What do You
Need for a
Car Title Loan?
Financial worries can take a toll on your well-being. According to WebMD, excessive worrying can lead to high anxiety and affect your sleep, job, and relationships. It can also take a toll on your health and make you physically ill. Rather than settling for this, and most likely increasing your stress levels in the long run, consider applying for a car title loan. Learn what you need for a title loan so you can enjoy the many benefits associated with it.
Car Title Loan Benefits
Auto title loans all differ depending on the company that you go through. If you go through our company, you will be in good hands. We’ve been providing people with loans since 1998 and pride ourselves on our quality customer service. We process more than 3,000 loans a day and have more than 1,000 locations in 16 states. To find out more about our company, visit the “about us” section on our website. We are known for our fast approvals; applying for a loan with TitleMax® can get you approved in as little as 30 minutes. No credit check is necessary to get you approved. We don’t base the loan on your credit; we hold your car title as collateral. If you don’t pay back the loan, you could forfeit your car. It’s almost like you pawn your car to get money, only we allow you to continue to drive your vehicle. We just hold onto the title of the car. In addition to being fast, we make it easy to repay the loan because our interest rates are very competitive.
What Do You Need to Get a Title Loan?
Many people ask us, “What do you need to get a title loan?” The answer is simple. You need to be at least 18 years of age or older and be able to prove this by showing a government-issued ID. You must also have a car with a lien-free car title in your name and some source of regular income. The latter can be anything from a pension or disability, to a regular salary or unemployment benefits. If you meet all of the requirements and have what you need for a title loan, you can apply either in person at a location near you or online. The benefit of applying at one of our branches is that they’ll immediately inspect your car. After determining the value of the vehicle, the loan professional will be able to make an offer. You can find more information about our car title loans on our website.
Repaying the Car Title Loan
Ask yourself if you qualify for an auto title loan. If you qualify and go forward, you will be presented with a repayment plan. You should know exactly when the loan payments are expected. You can make them either in cash at one of our branches, or you can use a debit card or Western Union. If you want to pay off a lump sum all at once, you’ll be happy to know that there is no repayment penalty. Also keep in mind that if another person in addition to you is mentioned on the car title, we might have to contact that person before approving the loan. If you have already obtained a car title loan with another company, don’t be afraid to inquire about refinancing. Often, we can offer a much more favorable interest rate.
Whether you have bills to pay or are dealing with an unexpected expense, a car title loan might be just what you’re looking for. The approval process is fast, and the extra cash that the loan provides could reduce your stress levels and give you peace of mind. TitleMax® has an unrivaled reputation. If you have any more questions about auto title loans, feel free to use the live-chat function on our site or call us at our toll-free number.
TitleMax services, products, and funded amounts vary and are not available in all stores or states.
1Title-Secured Loans, Secured LOCs and Title Pawns:Must present valid government issued ID and be at least 18 years of age (19 in Alabama). Account approval requires satisfaction of all eligibility requirements, including a credit inquiry, a military “covered borrower” check, a motor vehicle appraisal and a title review. Certain other eligibility requirements and terms & conditions apply. Line of Credit (“LOC”) customers are subject to a periodic collateral review to maintain credit limit. Ability to repay analysis is required in Missouri, Nevada, some Texas locations, and Utah (with income documentation in NV and TX). Certain TX product require proof of insurance. Funded amounts may vary by state, store, product or based on the results of an ability to repay analysis (where applicable). Maximum funded amount in Mississippi is $2,500. Maximum funded amount in Tennessee is $6,500, assuming customer qualifies for and accepts both the pledge max of $2,500 and Secured LOC max of $4,000. Motorcycle max (where applicable) up to $2,500 in AZ and for TN pledge; $3,000 in other markets. Refinancing is not available in Nevada, or for Mississippi or Tennessee Pledge products. Minimum funded amount in South Carolina is $601.
2Personal Unsecured Loans/LOCs:Unsecured loan amounts and products not available in all stores/states. First time maximum for new personal loan customers varies by state; first time max is $600 in MS; $800 in SC; $1000 in other markets. Higher amounts may be available for return borrowers.In-Store:In-person application not available in the state of Idaho at this time. Account approval requires satisfaction of all eligibility requirements, including a credit inquiry. Bring in active bank account details (dated within the last 60 days), and a valid government-issued ID to apply. If your bank account statement does not show recurring income deposits, you will need to also bring in proof of income, like a paystub, from within the last 60 days. In NV, proof of gross monthly income is required in addition to a bank statement. In AZ, a valid AZ motor vehicle registration in your name is also required. Min funded amount is $601 in SC. For new personal/unsecured loan customers without SSN or ITIN, max loan is $350 ($601 in SC).Online: If you do not have an SSN or ITIN, please visit us in store to apply. Additional items required for eligibility, including: a valid and active email address and telephone number, and a valid SSN. You must also reside in a state in which we do business (currently AZ, DE, ID, KS, MO, MS, SC, TX, UT or WI). Min funded amount is $610 in SC. Certain other terms and conditions may apply.
–Funds distributed via ACH to the borrower’s debit card, Dash® Prepaid Card or MoneyGram® (when/where available). The Prepaid Technologies Mastercard Prepaid Card is issued by Pathward, N.A., Member FDIC pursuant to a license by Mastercard International Incorporated. The card may be used everywhere Debit Mastercard is accepted.
– California, Illinois, New Mexico and Virginia Residents: TitleMax® no longer originates new loans in CA, IL, NM or VA, but continues to service existing loans.
– In Georgia, TitleMax offers Title Pawns.
– In Idaho, TitleMax only offers an online personal line of credit. In-person loans/applications are not available at this time.
– Missouri Consumers: please seeMissouri Schedule of Loan Fees and Charges.
– New Mexico Consumers: please see important New Mexico Consumer Information and Disclosures.
–South Carolina Residents: Please see South Carolina Consumer Information and Disclosures.
– In Nevada, title loans and high interest loans should be used for short-term financial needs only and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling before entering into any title loan or high interest loan transaction. Ability to repay analysis with income documentation required. Proof of gross monthly income required for a personal loan. A Nevada state-wide database check is required as a condition to getting a title loan or high interest loan in Nevada.
– In Tennessee, TitleMax offers title pledges and secured Lines of Credit (“LOC”). Only one LOC account allowed per customer, inclusive of other lenders. LOC customers are subject to a periodic income (and collateral, if applicable) review/validation.
– TitleMax of Texas, Inc. and TitleMax Online of Texas, Inc., d/b/a TitleMax act as Credit Services Organizations to assist customers in obtaining a loan through an unaffiliated third-party lender. Please see store associate for details. Please see Texas Schedule of All Fees. TitleMax does not offer pawn loans or pawn transactions in Texas.
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– TitleMax®, TitleBucks®, and InstaLoan®, are not considered competitors. Please see a store associate for details.
