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Understanding A Title Loan On My Car

When you want to know what is a title loan on a car, look no further than Southwest Title Loans for the answer. We work hard so that you understand what these car title loans are, how they work, and how you can qualify for one as soon as possible.

With us, you will see that the overall process of how to get approved for a title loan is quick and easy, and you can get your money fast if you are approved! Of course, the first step is finding out what this loan is! Keep reading to find out more!

What Does It Mean To Get A Title Loan On My Car?

When you find yourself asking what is a title loan on a car, here’s what you need to know. A title loan on your car is a way to borrow money quickly based on the vehicle’s value.

You’ll use your car title as collateral to secure the loan, and you can borrow up to $15,000, depending on how much your car is worth. This means a representative will inspect your car to determine how much money you qualify to borrow with the loan.

At most, you could qualify to borrow $15,000 quickly this way. Still, that’s not the only reason these loans are popular among borrowers.

Aside from the potentially high amount you could borrow, the overall process is also quick and easy, and you’ll have plenty of support and guidance along the way. When you consider all of those benefits, it should be no surprise that many people find these loans beneficial in their time of need.

The image shows a man in a pondering stance, contemplating car title loans.

What Do I Need To Qualify For A Title Loan?

Now that you know what a title loan on a car is, you’ll also want to know what it takes to qualify for one of those fast cash title loans. Another reason these loans are popular is that there are only a few required items you must fulfill to qualify.

As you will see, the requirements you must fulfill aren’t too challenging. So, there’s a good chance you can gather the items and get started with the process immediately. Here are those requirements:

  • First, there is an age requirement. You must be at least 18 years old to apply for one of these loans, and not a moment younger. A minor is not allowed to legally take out a loan with us at all.
  • Second, you must be able to provide valid photo identification, like your Arizona driver’s license or another photo ID currently issued by the state. That’s necessary to verify your identity and to make sure you are a legal adult.
  • Third, you must have your lien-free car title to use as collateral. That title must be registered in your name and ‘clear’, meaning it’s free from any outstanding loans or judgments. This means the vehicle must also be fully paid off.
  • Lastly, you must be able to bring that vehicle in for an in-person inspection. That’s only necessary during your application, you’ll be able to keep the car after you’ve completed that process.

Steps To Apply For A Title Loan

When you are ready to get started on your title loan application, simply use the online form to submit your title loan request and contact information and one of our customer service loan representatives will call to get you started. To understand the step-by-step car title loan process, take a look at how it works:

  • Begin by filling in the easy online form with your basic information so one of our loan agents can call you to schedule an in-person meeting.
  • When you head to the meeting be sure to have your required documents (photo ID and vehicle title), and your vehicle.
  • When you arrive, the agent will verify your documents and quickly inspect your vehicle to determine its value and the funds you are approved to borrow. 
  • If you are approved, and agree to the terms, interest rates, and the loan amount, simply sign the loan agreement to get funded the emergency cash you need as soon as the same day or by the next business day.

To avoid visiting a store location, you can request an online title loan and one of our loan agents will visit you at a place of your choosing, such as your home or office, to complete the application process. You can also call or visit one of our stores if you prefer a more personal face-to-face process. 

What Do I Do If The Title Is Not In My Name?

If you are still wondering what is a title loan on my car, one thing to know is that your car title is one of the most important requirements for these emergency cash loans. This means that your name must be on the title in order for you to use it as collateral.

If that car title is not in your name, the first thing you’ll want to do is visit your local DMV office and have them transfer it to your name. It’s only when the car title loan process is completely done that you can use it to apply for a title loan with us at Southwest Title Loans.

Do You Need A Perfect Credit Score To Apply?

The good thing about getting a car title loan from us at Southwest Title Loans is you don’t need to have perfect credit to qualify for these fast cash title loans. Unlike traditional banking loans, all credit is welcome to apply. Whether your credit account is good or bad, your application will be considered the same way anyone else’s would.

While that doesn’t mean we won’t ever have to check your credit, it means it isn’t the most important factor. What determines how much you qualify to borrow is the value of your car, your car title which secures the loan, and how much you can afford to repay.

The image shows a man stares at his laptop, searching for the definition of title loans

Get Fast Cash Title Loans Today!

When it comes to understanding what is a title loan on my car, you can see it's not that difficult when dealing with a lender like us at Southwest Title Loans. Now all you have to do is begin the car title loan process to find out how to get approved for a title loan today!

Apply for title loans now just by filling out the online form on our website. Before you know it, you’ll go through the process at the nearest store location or a location of your choosing. Don’t hesitate or waste any more time, use your computer or mobile to pull up the online form now to get started right away!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Mason Roberts

Mason Roberts is a seasoned economics writer and blogger with a knack for breaking down and simply communicating the ever-changing world of finance. He is philosophically committed to the premise that financial knowledge equals financial freedom.

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