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5 Reasons Why You Should Get Vehicle Title Loans

If you’ve ever needed emergency cash, one thing you should consider is getting title loans to help you get the quick money you need. And when you come to Southwest Title Loans, you’ll learn that there are plenty of benefits to getting a title loan. From bad credit not being an issue to the short list of required items, using your lien-free title to get this loan is a good idea. Plus, we can take you through an easy title loan process to see what the eligible vehicles for title loans are here. Keep reading to learn more.

Top 5 Reasons Why You Should Get Vehicle Title Loans

1. Your Credit Score Doesn't Matter

If you've ever tried to get a loan from a bank, you'll understand the importance of your credit score. After all, they're less inclined to lend money to anybody with a less-than-good rating. But that changes when you get vehicle title loans. We use factors besides your credit score to decide whether you can afford to take out the loan. So, you can gain approval with a poor rating, allowing almost anybody to find out if they can get access to emergency funding when they need it.

2. The Process Is Quick And Easy

Traditional loans from banks or credit unions tend to come with a complicated process. And even after you've completed it, you'll end up waiting weeks for the final lending decision. The title loan process here is completely different. The initial form takes five minutes to complete, and then the in-person part of the process can be as quick as a mere 30 minutes. Finally, if you are approved, you'll get the money you require in as little as 24 hours. It's a quick way to borrow up to $15,000 with your lien-free title!

3. Your Car's Value Dictates Your Loan Amount

As we mentioned earlier, we use other factors to consider how much we can lend to you if you are approved. While traditional banks use your income and credit score to determine how much you can borrow, we use the condition and value of eligible vehicles for title loans. This means that the more the car, truck, or van is worth, the more you can potentially borrow. To ensure you aren't disappointed by the amount we can offer, take a moment to consider the factors that affect your vehicle's value:

  • Make and model — Luxury cars are usually worth more than run-of-the-mill models because they usually indicate that they will work better than a lesser-in-value car. For example, a Fiat 500 will never be worth as much as a Lexus RX.
  • Mileage — Typically, cars with higher mileage aren't worth as much as those with lower odometer readings. Again, a higher mileage means there is more wear and tear on the vehicle – meaning it might not work as well as one with a lower mileage.
  • Age — Cars can be a tricky investment because they can lose around 15% to 20% of their value in only 12 months. While the depreciation curve flattens once the vehicle reaches five years of age, it's still a vital factor in determining how much we can offer you with a title loan.
  • Condition — Maintaining your car's cosmetic and mechanical condition is essential for getting the most value. If you fail to change the oil regularly or consistently scrape the paintwork, it can mean your vehicle’s value significantly decreases.

man listing benefits of title loans

4. They Help Cover Unexpected Expenses

You don't have the luxury of time during an emergency because your emergency expense can only get worse as time passes by. Spending lengthy periods trying to fill out traditional bank loan applications just isn't an option. Luckily, title loans allow you to complete the process in a matter of moments and fund your emergency by the following day if you are approved. Again, we work hard to make sure you get your decision as quickly as possible to see if you can get the money you need.

5. The Requirements Are Simple

Another good thing about getting title loans here is the short required items list. We don’t make you bring in a ton of paperwork to have us determine if you qualify for approval. In fact, the items we ask for are items you more than likely already have within reach. So all you have to do is make sure you can meet these requirements and we will do the rest to determine if you qualify for approval. Here are the items we need to see:

  • Driver's license or a state-issued photo ID.
  • Vehicle for a quick inspection.
  • Lien-free vehicle title in your name.

How To Get Vehicle Title Loans

Now that you know about the five benefits you receive when you get this loan, the last thing you need to know is the title loan process. As we’ve said throughout, the process is quick and easy so you can get through it to find out if you qualify. Plus, our loan representatives can help you out no matter where you are in the process. So, if you need to fund a crisis, follow our simple steps below to get money as soon as possible:

  1. First, complete our easy online loan request form. One of our friendly loan representatives will call you to ensure you have the required items and answer questions. You'll also decide whether you'd prefer to meet at your local Southwest Title Loans store or a more convenient location like your home.
  2. Wherever you decide to meet, make sure you bring the necessary items we discussed earlier with you. You will then sit down with the loan representative while they examine your ID and title, and conduct a fast vehicle inspection to determine how much money we can lend to you if you are approved.
  3. If you qualify for approval and agree with the loan amount, complete the final paperwork with the loan representative's help and they will tell you the loan terms as well. You just need to sign a few documents to finish everything. Finally, receive the money you need on the same or the following business day.

woman happy with loan

Fund Emergencies With Vehicle Title Loans Today!

As you can see, there are plenty of benefits you can receive when you come see us at Southwest Title Loans. We will help you get through the simple process so you can find out if you qualify for this loan with your lien-free title. We will also help you find out the eligible vehicles for title loans and the required items you need. So, if you are ready to begin the title loan process, start now by going to our website to complete our online inquiry form.


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

Louis Tully

Louis Tully is a full-time finance writer offering financial expertise to everyday consumers. He understands the core values of finance and used his writing talents to share his own experiences with money to his readers. His articles teach how financial failures can easily become successes by making new habits and creating realistic goals.

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