When you go to apply for a car title loan, there are many things to find out about. You want to make sure that you have all the information that you need before you move forward, as you do not want to have things backfire for you. One of the most important things for you to find out about is what kind of cars will qualify for a car title loan, as you do not want to get your hopes up only to find out that your vehicle will not get you the funding that you need.
The Kinds of Cars That Qualify for a Title Loan
A kind of car that is likely able to qualify for a car title loan is one that is entirely paid off1. There are exceptions here and there, but it will all depends on how generous the lender feels and what your current circumstances are.
There are numerous auto makers whose cars could qualify for a car title loan with most lenders1. Below is a list of said companies, which includes many of the most common auto makers like Ford, Chevrolet, Nissan, and many more. The list of cars we accept is:
- Alfa Romeo
- Land Rover
That said, even if you do not see your car’s maker on the list provided above, that does not mean that your car will not be accepted for a car title loan. We may still accept it and give you the funding you need.
Other Things You Will Need
In addition to a car title in your name, you will need a variety of other documents to prove your identity, ability to repay the loan, as well as some other things to make sure all the bases are covered. Such documents include:
- You need to be able to produce government recognized identification such as a driver’s license or a legal photo ID issued by your state
- You will need to be able to prove income, but this does not necessarily mean that you will have to have a job. Income comes in several different fashions, but you need to show that you can prove some form of income.
- You will need to have car insurance, though some companies will offer you temporary insurance during the loan.
- You will need to send in pictures of your vehicle whose title you will be borrowing on. Sometimes the lender might not actually see the car in person but will use pictures of it as proof instead.
- Proof of residence. Easy one on this because proof could be just mail you get or it might be listed on your credit report.
Things you will NOT need
When going in to apply to get a car title loan with the help of Max Cash Title Loans, there are several things you do need, there are also quite a few that you will not – some of which will make things a great deal easier on you and could make all the difference in you getting the financial assistance you need2. Some of these things include:
- A good credit score or a positive FICO score. Since car title loans are based on your ability to repay the loan provided to you and the value of your car, credit usually is not that great of a factor.
- A car that is absolutely perfect. Lenders in the past have gone from 50% to 130% LTV (Loan to Value)4. Keep in mind that lenders are not making a deal to buy your car, but rather to become a new lien-holder on it for the time being.
Get in Touch With Us
If you have any questions about a future or present car title loan or you need to get a hold of us for any other reason, you can reach Max Cash Title Loans by:
- Calling or texting us directly at 1-855-561-5626
- Emailing us at email@example.com