With Max Cash Title Loans assisting, residents of the New Berlin area could be able to secure funds quickly and easily.2 If you require some fast funds, a car title loan may be just the thing to help you out.
Start the inquiry process now by filling out a short online application or by giving us a call at (855) 561-5626. To learn more about how Max Cash Title Loans operates in the greater New Berlin area, continue reading below!
What Exactly is an Auto Title Loan?
An auto title loan is a secured loan that is acquired when a lien is placed on your vehicle’s title. To receive this type of loan, a lender will consider a few things.
A lender will determine your auto title loan amount upon the overall value of your vehicle, as well as your ability to repay the loan. Whether you have a poor credit history or no credit history, you may still be eligible for an auto title loan! Credit isn’t everything, as auto title loan approval is mainly determined on the monetary value of your vehicle, unlike personal loans.
Auto title loans are short-term loans but differ from a quick payday loan or a cash advance. The payment terms are usually longer, and a lien is added onto the title of your vehicle, which gives the lender temporary possession of the title of your vehicle.
Your vehicle is still yours to use daily, so don’t worry about not being able to use it! The vehicle’s title becomes yours again once you have completed your last loan payment.
What Documents and Materials Do I Need for an Auto Title Loan in New Berlin, Wisconsin?
With auto title loans, the documents you will need to apply are minimal. To be fully approved for a title loan in New Berlin, Wisconsin, you will generally be asked to provide the following (although the specific paperwork needed will depend on your unique situation):
- Proof of Income
- Car Title (with your name on it)
- Several Pictures of the Vehicle (all 4 sides including VIN and odometer)
- Government Issued Form of Photo ID
- Proof of Residence
- Current Insurance Forms for Vehicle (sometimes)
- A Few References (personal and/or professional)
To apply and submit the required information you simply need to take pictures of the documents and upload them online. An online title loan process is the easiest way to discover if you’re eligible for an auto title loan!
How Do Payments Work for an Auto Title Loan?
Loan repayment with the lenders who work with Max Cash Title Loans can range from a few months to a few years.
Some title loan lenders we work with may even allow for a lower payment every month with every on-time payment.4 This option can make your last payment 50% lower than where it started!4
What is the Process to Get an Auto Title Loan in New Berlin, Wisconsin?
The application process when working with Max Cash Title Loans is super simple!
Start the approval process now by filling out a brief inquiry form to find out almost instantly if your vehicle receives approval for an auto title loan!2 Once pre-approved, you will need to provide the documentation listed above.
Once you receive approval, you will need to sign a loan agreement with them. Your lender will also verify the condition of your vehicle overall, as well as your odometer. After the underwriter contacts you, you will receive a quote with the maximum amount they can give you.
You do not have to accept the full amount, as it is best to only take the amount you need and an amount you are confident you can payback. Your monthly payment amount is determined by the principal, the duration you request, and the total amount of your auto title loan.4
Once everything looks good sign the contract and get the funds from a title loan! 1 2
How is the Value of My Vehicle Determined for an Auto Title Loan?
The lender will consider the following car details when determining your auto title loan amount:
- Trim package and extras that may have been added after the purchase of your vehicle
Your vehicle’s VIN is also important to get the most accurate value of your vehicle. You can find your vehicle’s VIN in the following places:
- On the driver’s side window
- Inside the driver’s door
- Your Vehicle Insurance Card
- Your Vehicle Title
How is My Vehicle Information Used to Obtain an Auto Title Loan?
Different lenders use different programs to assess the value of your vehicle, most commonly the Kelly Blue Book, Black, or their software. Your lender’s goal is to determine what the vehicle’s current auction value is.
Some things your lender will not take into consideration include your sentimental attachment to the vehicle, any aftermarket products that may harm the value, and any vehicles labeled a “classic” without proper assessment.
Get Started with Max Cash Title Loans in New Berlin, Wisconsin Today!
Max Cash Title Loans wants to help you with a loan that has great interest rates and low monthly payments! 2 4 Apply for an online car title loan through our website or call us at (855) 561-5626 and you could get cash fast.1 2
Disclaimer: Max Cash Title Loans services this area but this map does not represent an actual location