Can I get a title loan if I already have one?
No, you can’t get a title loan if you already have one out. You can get the one you have purchased by a new lender but it’s one loan one one car at a time.
Can I get a title loan if I still owe money on the car
Depends on the lender and how much you owe still. Typically if you have 10 payments or less and the car still has value, then a lender will do it but again, not all lenders will.
Can I get a title loan if I have a payday loan out
If you have a payday loan out, it’s just another loan and it does not effect your chances to get the loan any greater than any other type of money you owe. With ANY loan, the ability to repay it (meaning you make enough to pay this additional loan on top of the debts and normal cost of living) will always apply.
Can I get a title loan if I don’t own the car
If you are saying “can I get a loan on a friends car”… well that’s simple. No.
How Easy Is It to Get A Title Loan?
Acquiring a title loan allows people to quickly acquire the emergency money they need, no matter what type of financial crisis they may be facing.
Car title loans are a popular type of loan due to the type of collateral, and the high approval rate. Unlike traditional bank loans, car title loans are popular because lots of the borrowers own vehicles.
But finding the right type of lender to work with can be frustrating and time consuming. That’s why Max Cash Title Loans offers to find reputable lenders for our clients1. We offer people the ability to receive the money they need quickly and easily.
Easy title loans
If you are wondering how easy title loans are to acquire, just take a look. We are a vehicle title loan referral service. We are here to bring you the best service in the business. A car title loan is a high risk quick reward option to obtain the funds you need. You are basically pawning you car title for the money you need.
There are risks to this option just as there are risks to anything you do even getting out of bed. You will need to have a car and a good form of income. We will walk you through the process and make sure you are not getting in over your head. Our customer’s satisfaction is very important to us. We thrive on getting you the money you need and keeping you smiling. We offer fast pre-approval, same day service, funding as fast as one business day and no pre-payment penalties.
There are many reasons that may arise for your needing a car title loan. Lets us be there for you in this time of need. We value your privacy and never sell your information to anyone. We only share the info you give us with the lender you will be working with. Max Cash Title Loans is partnered with TMG Loan Processing who is Consumer Affairs accredited. We also have a Federal Tax I.D. which shows you we pay our taxes just like you.
We can be reached 24/7 via Text/SMS. You will be able to speak to one of our qualified loan processors directly from our office. We can also be reached by live chat online during our normal business hours as well as by phone. Give us a chance to show you the difference we can make in your search for a vehicle title loan.
Fill out our online application located on every page of our website. Then speak with us to get further along in the process. We will tell you if you qualify. If you do qualify you can pick up your money directly from your lender store, Money Gram, direct deposit, or overnight check through FedEx or the like. No matter where you are located we can reach you. Check out reviews located on our FaceBook page.
What to Expect With a Title Loan
A car title loan is a loan where a car is put down as collateral. Before taking out a car title loan there are a few things one can expect out of the title loan process. If an individual is looking into obtaining a car title loan then it may a good idea to understand the basic steps of the process, as well as what the title loan lender will expect from the borrower.
What to Expect When Researching Car Title Loans
When researching car title loans, many names will come up. Title loans are called by many names, including auto loans, car title loans, pink slip loans, auto pawn loans, or some variation of these terms. These terms mean the same thing and they all have the same process. When looking into obtaining a title loan, one may find that title loans are accessible to a wide range of groups including people with poor credit, those who have no bank account, and those without a social security number.
What Items/Information Should I Have for A Title Loan
In order to obtain a title loan, a person will be expected to have the following documents on hand:
- A state I.D. or driver’s license
- Proof of income
- Title to a qualifying vehicle in their name
- Vehicle inspection (in-person or via pictures)
What Can I Expect for The Value of the Loan?
The value of the car title loan is largely determined from the value of the vehicle. To determine the value of a car, the make, model, year, and mileage will all be considered when coming up with approximation. In addition to this, lenders will also look at income and the ability to repay. Once they consider all these factors, they will offer a value for the loan.
Length of the Process and Funding
The car title loan process can be extremely fast, especially when compared to traditional types of loans. Funding for title loans may be available the same day or in the next twenty four hours. In addition to fast funding, title loans are convenient. Most of the time signing up for a title loan can be done entirely without leaving home.
Where Can I Get A Title Loan?
Many states in the U.S allow for title loans but there are some states that don’t. If title loans are allowed in the state, a resident can begin to look at lenders. There may be several title loan lenders available in a single area. In addition, there are title loan connection services, who do the loan searching for people. Every lender is different so it is important to look around before signing up.
What Kinds of Interest Should I Be Expecting?
There are two kinds of interest rates when it comes to car title loans. The MPR (monthly principle rate) and the APR (annual percentage rate). Expect the interest rates to be extremely high because of the risk that title loans carry. Interest rates on title loans could range from around 200% to 300% of the loan. Most of the time, interest will only be shown in terms of the MPR. This is because lenders are not obligated to present the APR interest. The APR is just the MPR added up, and it should be looked at and considered before signing a title loan agreement.
What Kinds of Additional Fees Should I be Expecting?
Title loan lenders must be transparent about the entire cost of a loan before a contract is signed. The only additional fees that may come up are late fees (which should be stated), or rollover fees. In the loan industry, a rollover fee is a charge for when a monthly payment is deferred. The amount of the rollover fee depends on the lender.
Process of a title loan
If you need a title loan you may get a little confused on the steps so this guide will assist you with the proper steps.
There are three basic “business models” for title loans:
- Totally virtual – (no brick n mortar locations for you to drive up to)
- Brick n Mortar – (they have a store)
- Hybrid companies – (they do everything out of a main control center but then you either go to a store or go to a broker location to sign and get the money).
All three business models for title loan lenders have the approximate same amount of things you will need to produce:
How Fast is the Process to Get a Loan?
When a financial emergency hits, funds may be needed quickly. The traditional loan process could take several days or even weeks to give approval for funding. Additionally, the process of determining eligibility comes with several steps. For this reason, many people look into getting a car title loan because funds may be available extremely fast and the process takes much less time when compared to traditional loans.
A car title loan is a type of secured loan where the borrower’s car title is used as collateral. The process of getting a title loan could only take a few minutes, depending on the lender. If a person is looking to get a car title loan, they may curious as to how they could go about the process and just how quickly they could receive funds.