WANT TO BUY OR SELL A PROPERTY?
555-555-5555
mymail@mailservice.com
Can I Get A Title Loan Online?
By Marcela De Vivo • Feb 27, 2022
A title loan is a type of secured loan, which means it is supported by collateral. If you need fast cash, you can use the title to your vehicle as collateral to borrow money through a title loan. Because title loans are typically processed quickly, they’re ideal for people who don’t have time to go through the process of applying for a traditional loan.
If you’re considering applying for a title loan, you might be wondering where you need to go to submit an application. You might be thinking, “Will I need to visit my lender’s office or can I get a title loan online?” Fortunately, you can complete the entire title loan application process without ever leaving home. Here’s
what you need to know about online title loans:
Am I Eligible for a Title Loan?
You must meet certain conditions to qualify for a title loan. The eligibility requirements can vary depending on the lender, but in general, you may qualify for a title loan if:
- You are at least 18 years old.
- You own or partially own a vehicle, which means your name is on the title.
- You have equity in your vehicle.
- You consent to a credit check.
- You have a reliable source of income.
Many people worry that they won’t qualify for a title loan if they don’t have a perfect credit score, but that’s not the case. You will need to consent to a credit check to apply for a title loan, but your credit is only one factor that the lender will consider when determining your eligibility. Title loan companies typically accept most credit types, so you shouldn’t let your fear of a credit check stop you from getting the cash you need.
What Do I Need to Apply for Title Loans Online?
Every lender will ask you to submit certain documentation when applying for a title loan. You should be prepared to submit:
- Your driver’s license or another form of government-issued ID;
- The title to your vehicle;
- Proof of residence, which may include your driver’s license, lease agreement, mortgage, utility bills, or other relevant documents;
- Proof of income, which may include recent tax returns, bank statements, pay stubs, or other relevant documents; and
- Proof of auto insurance.
Some lenders may require additional documentation. Make sure you work closely with your loan officer to ensure you submit everything your lender needs to process your application. The sooner you submit this documentation, the sooner you can get the cash you need.
Let your loan officer know if you can’t find the title to your vehicle. Your loan officer can help you obtain another copy so you can complete your submission as soon as possible.
How Much Can I Get With an Online Title Loan?
Title loan amounts can range from $2,000 to $30,000. The amount you are approved to borrow will depend on several factors, including:
- Your income: No title loan company wants to lend a borrower more than they can afford to repay. For this reason, your lender will analyze your income to determine how much you can afford to repay. This analysis will impact how much you are approved to borrow.
- Your vehicle’s resale value: Your vehicle is used as collateral, so your lender needs to know how much it is worth before determining how much you can borrow. Your lender will calculate your car’s resale value based on its make, model, year, condition, mileage, and trim level.
- Your equity: You cannot borrow more than the value of your equity in your vehicle. To calculate your equity, subtract the amount you owe on your vehicle from your vehicle’s resale value.
- Local laws: Some states have laws that establish minimum and/or maximum title loan amounts. If you live in one of these states, these laws will impact how much you are able to borrow through a title loan.
If you want to know how much you will be able to borrow, contact your title loan company and ask for a free quote.
Will I Need to Bring In My Car If I Apply for a Title Loan Online?
The title loan company will need to calculate your car’s resale value during the application process. Some title loan companies ask borrowers to bring their vehicle in for an inspection after submitting an application. Others, however, will arrange to have your vehicle inspected at your home, workplace, or another convenient location.
Your title loan company may also choose to calculate the value of your vehicle based on photographs you submit during the application process. If your title loan company offers this option, you won’t need to bring your vehicle anywhere for an inspection.
Talk to your title loan company to learn more about the valuation process. If you don’t want to bring your vehicle in for an inspection, ask your lender if they will accept photographs of your vehicle instead.
How Quickly Can I Get Cash If I Apply for an Online Title Loan?
If you need fast cash, you may be eager to find out how long it will take to get money when you apply for a title loan online.
Title loans are usually processed more quickly than traditional personal loans, which is why so many people rely on them to get cash fast. The amount of time it takes to get cash after applying for a title loan will vary on a case-by-case basis.
If you want to get your cash quickly, it’s important to submit everything your lender needs right away. Your application cannot be processed until the required documentation has been submitted, so sending everything to your lender as soon as possible will help you avoid unnecessary delays.
New Paragraph
Marcela De Vivo • Feb 27, 2022
HOW MUCH IS MY CAR WORTH?
Beginner’s Guide to Car Modification addressing performance, aesthetics, sustainability, and budget-friendly tips.
Is now the time to buy, sell, or trade-in my car?
Explore the best cars worth waiting for from 2024 to 2028. Find the best in luxury, electric, and performance vehicles.
This is a comprehensive guide on the reasons why buying an electric car instead of a gas vehicle can benefit you as a consumer and how it can change your life.
Use these 10 ways to start saving money to build a nest egg and accrue money for emergency expenses.
FOLLOW US
USA Patriot Act Disclosure: Important information about procedures for opening a new account
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you apply for a loan, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
Loans may be made by one of several lenders, including: First Electronic Bank, a Utah-chartered industrial bank located in Salt Lake City, Utah, Member FDIC; Wilshire Commercial Capital L.L.C. dba 1 (800) Car-Title and Wilshire Consumer Credit, a licensed lender in certain states. Loans not available in all states. In California, loans are made pursuant to a Department of Business Oversight California Finance Lenders License. See State Disclosures for additional information.
Accessibility Statement. We are committed to ensuring digital accessibility for people with disabilities. We are continually improving the user experience for everyone and applying the relevant accessibility standards in compliance with Web Content Accessibility Guidelines. For feedback on our website accessibility or if you have any problems with the access of our website please call our toll-free number 800-589-0290 or email us at WilshireCustomerCare@WilshireConsumer.com and we will assist you.
Wilshire Commercial Capital, LLC dba 1 (800) Car-Title and Wilshire Consumer Credit is located at 4727 Wilshire Blvd, Suite 100, Los Angeles, CA 90010.
TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY WRITE OR CALL Tracy Bergiman, Director of Compliance, 4751 Wilshire Blvd. Suite 100, Los Angeles, CA 90010, 323-837-5775, tbergiman@westlakefinancial.com.
New Mexico Only: This lender is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the division by telephone at
(505) 476-4885 or visit the website: https://www.rld.nm.gov/financial-institutions/.