Online Car Title Loans & Auto Title Pawns Up to $5000!

Online Car Title Loans & Auto Title Pawns Up to $5000!
  • SOFT CREDIT CHECK
  • NO APPLICATION FEES
  • EASY LOAN APPROVAL
  • BAD CREDIT OKAY
https://homeloansplus.org/Title Loans
Last Updated 22.09.2021
907919
Loans Processed
49459
Max Loan Amount
94
Approval Rate, %
694
APR, %

Requesting Title Loans or Car Title Loans

It’s a rainy day, and you need a quick loan to cover an emergency or something that just came up. Payday is a few weeks ahead, and you need that cash as soon as yesterday. Don’t worry! Our title loan services offer you sufficient funding on the same day regardless of your credit score. Want to hear more? Read on to find out how you can secure a title loan with us.

What Is a Title Loan

Simply put, a title loan is the best option you have for quick cash. It comes in different naming from state to state. Some call it Title Pawn other lenders call it Consumer Finance Loan while still others stick to Consumer Installment Loan.

To put it into perspective, auto title loans, which is also another name for car title loans is a quick loan that is usually offered on the same day with your car title as the collateral. The amount of the loan depends typically on the value of your car. Nevertheless, as long as you possess equity of the car title, you are likely to get the loan without much interference from your credit score.

296642
Loans Processed
18543
Max Loan Amount
96
Approval Rate, %
528
APR, %

How Do Title Loans Work?

You want a considerably massive chunk of money on the same day, and you own a car? It’s as simple as that. Did you know it is possible to pawn your car and still retain the vehicle? This is the basic concept of title financing. You only need to give valid proof of the car ownership, and then we will evaluate the money borrowed and the interest charge versus the value of the car.

How Do I Get an Auto Title Loan?

Unlike most lenders, we do not require you to fill a ton of paperwork. The process of title financing is reasonably simple to grasp. You can either fill out an online form or visit one of our car title loan offices near you. We process your loan quickly as we understand your needs for the cash for the title may be urgent. This opens the door for taking a loan out against your car without the lender having to see your car. However, we have to confirm you are prequalified before giving you the loan. This means you have to have full or partial ownership of the vehicle before we hand out the money on the same day.

On a standard case, we offer the car title loans for an average of 30 days as we consider them short-term loans. You can get instant cash loans on a variety of vehicles including RV’s, trucks, and even motorcycles. This increases your portfolio for a title loan on a financed car while allowing you to put your machine into full use as you source out ways of repaying the loan.

Requirements for a Title Loan

First and foremost, you need to check your state rules and regulations, especially if you are applying online for a title loan for a financed car. Different states have varying rules and regulations on the issuance of car title loans. Only 16 states in the USA fully allow auto loans without restrictive barriers. On the other hand, 25 states have banned the issuance of US title loans because of the steep APR charges on borrowers. The rest have set up additional requirements for title loans hence making it harder for civilians to access the instant cash.

Once you have affirmed the legal requirements for a title loan as per your state, you can then proceed to fill in the online form or visit the nearest title financing office near you. The requirements asked for here will be:

  • Driver’s license or alternatively a state-issued ID
  • Proof of residence
  • Car title that will be used
  • Proof of car insurance
  • Bank statements or proof of income streams

The income statements are only used to prove you are capable of paying back the loans at the appointed time.

During your application, we will inform you whether we need to conduct a car inspection to ascertain the condition of your equity. Your credit score may be of some use as we evaluate your debt history as well as your debt-to-income ratio. However, this will not prevent you from getting a title one loan as we are not a credit-score-based firm. We aim to offer you the maximum loan possible depending on the value of your financed car title. This requires honestly on your part as you fill out the details of the title loan application.

Our agents will discuss with you the APR (annual percentage rate) otherwise called the interest fee rate of a title loan on a financed car. These are the essential car title loan requirements you will need for title financing with us. Nonetheless, depending on individual cases, we might require additional requirements for a title loan.

Read on if you are interested in finding out how to get a title loan with a lien.

How Are Title Loans Used?

Most people take title loans on the most demanding cases. We usually advise clients to also source out these loans as a means of last resort as title loans are considered expensive as compared to other types of loans. Therefore, our qualified agents may suggest alternatives to auto loans in a bid to avoid defaulting or rolling over the payment for an extended period.

The majority of clients, therefore turn to title loans to make medical payments or other emergency bills. Similarly, others may take a small title loan to satisfy utility bills following a late paycheck.

While some of these reasons may be legit, title loans are also dedicated towards other household needs such as cultivating the backyard, decorating the house, or when doing some refurbishments. Others who are in a position to pay back will opt for financed car title loans to sort out vacations or even buy another car for business use.

Whatever your reasons are for taking an auto title loan, we got you covered.

Choose a Loan Amount You Need
Choose a Loan Amount You Need
Choose a Loan Amount You Need

Comparing Title Loans to Payday Loans

It goes without saying; both payday loans and title loans are expensive. However, they have differences that may make one more appealing over another depending on the borrower.

Payday loans are banked against your paycheck. This simply means the lender has access to your bank account and is legally authorized to withdraw the money the next time your payslip comes in. This may be for less than 30 days. However, auto title loans are given for a period of 30 days, and your car is the item that finances the loan.

The maximum amount borrowed on payday loans for most states ranges from $100-$1000. Car title loans may offer you a better deal starting from 25% to 50% of the value of your car. Some generous lenders may maximize this value and advance you up to 85% of your car’s value. This requires research and due diligence on your part when sourcing out a loan to find out which lender has the best deal.

The interest rates may differ from lender to lender. Payday loans average from 400% APR and up. To put this clearly, you may be required to pay an interest value of $15-$30 for every $100 principal amount and up. Most titles on loans will cost you a minimum of 25% monthly interest translating to an APR of 300%.

This interest charge excludes the fees, which may vary from one lender to another. Some may have further aggressive costs calling for more care when taking these loans. Always source a lender who values your needs and sympathizes with you.

But how will both these loans affect your credit score? Both payday and US title loans rarely affect the borrower’s credit score. This is because the lenders do not necessarily report issues arising, including defaulting on loans even though some do. Payday lenders will simply bank on the next paycheck while defaults on car title loans will have the lender repossessing the borrower’s vehicle.

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Comparing Between Title Loans and Installment Loans

It’s relatively easy to get entangled between the two since they are similar in a lot of respects. Both title loans and installment loans have short turnaround periods marked by steep APR charges. Most borrowers are unable to pay by the due date; hence the industry thrives on consumer’s inability to pay and increased rollover costs. However, they also have slight differences.

Installment loans need to be paid in incremental monthly payments over a few months. Borrowers here are allowed to borrow as much as $1000-$10,000. The lender can extend the payment period up to 3 years following the terms of the agreement. The fees may vary from lender to lender, but the APR cost ranges from between 25%-100% from state to state.

As you already know, car title loan requirements are a bit different. The payment period usually extends up to 30 days, and the fees may vary from lender to lender. The amount borrowed typically ranges from 25%-30% of the value of the car while the interest rate amounts to 300% APR. In the long run, taking a loan out against your car may cost you less than installment loans because of the extended period of paying the installments.

Benefits of Financed Car Title Loans

  1. First off, it is easy to obtain this kind of loan. The borrower is not tied down to their credit score when taking a car title loan. However, one should always expect the unexpected, especially in the world of finance. However, we aim to meet and even exceed your expectations.
  2. Accessible to anyone. The accessibility feature of title financing has made it a popular getaway for most Americans. A recent car title loan statistic showed up to two million Americans will secure an auto loan on an annual basis.
  3. Less paperwork and fewer credit checks. Since car title loan firms do not base their lending on customer’s credit scores, less paperwork is needed to get this loan. Bad credit may be accepted, which is not common with most lending institutions. That said, every lender needs to check your creditworthiness, and you shouldn’t trust lenders who entice you with a loan on the car without a title or with no credit checks.
  4. In the short run, it may be much cheaper than a cash advance as your car is used as collateral.
  5. Title loans will come in handy during a rainy day due to the speed and convenience of getting the cash. What’s more, if documents are readily presented on an online base, you can get instant title loans without the lender seeing your car.

Risks Involved with Title Loans on Financed Cars

  1. Hefty fees and interest charges. Failure to pay up will have the payments accrue and may even exceed the value of your car. You may end up paying more than what you initially bought your car at.
  2. Tough restrictions in a majority of the states. Due to the ease of borrowing coupled with the steep charges involved, most state governments have set up strict restrictions to deter their civilians from accessing these loans.
  3. Huge possibility of rollover rates. Only a minority can pay up the loan with an extra 25 to 50% before the due date. The rollover charges are a deterrent factor to most who may desire to apply for the loans.
  4. Possibility of car repossession. Once the lender asserts your inability to pay, you stand a high risk of losing your vehicle altogether.

Why Trust Us for the Best Car Title Loans?

For starters, we ensure our clientele get the best deal possible from whatever car/machine model. Moreover, we have different options that we accept, including motor homes, motorboats, trucks, and other machines. Contact the nearest agent near you by filling in your zip code, and we’ll be in touch with you to discuss the terms of the agreement.

We are also spread out in a majority of the states ensuring you do not need to travel far to get access to our quality US title loan. HomeLoansPlus long-standing presence in the market has enabled us to build a strong rapport with industry players and customers.

We have a spotless track record in cash for title business, and we have thus had an exponential growth rate since we began operations. We are currently able to process loans in a matter of 24 hours (at times less) while the online application process only requires 3 minutes.

We have strived to ensure we reduce the requirements for a title loan for anyone seeking a quick loan service as we know how crucial our aid is at times. This isn’t free access to anyone to apply for a long as one must have met the minimum requirements for title loans as per our policy guidelines.

In a bid to build customer confidence, we introduced a package where customers can assess how to get a title loan with a lien. In other words, this means using a car title that is claimed by another firm. Repurchasing these auto title loans enables us to offer our clientele less intrusive terms. This opens the door for burdened customers to get out of title loan.

How to Get Out of a Car Title Loan

Suppose you are in a fix and you find yourself searching for instant cash loans near me. After a diligent search, you find our car title loan services and are drawn in by our terms of service.

However, you are not sure whether you will get the instant auto title loan with us because you purchased your car on a loan that you haven’t cleared. In other words, you are in lien with the bank.

Alternatively, suppose you are unable to pay the current debt you have with another car title loans firm, and the debt has become unmanageable. How can we be of help?

A client can get out of title loans with us. We have a payment plan where part of the title financing will be directed towards clearing the debt. That being the case, it is impossible to get a loan on a car without a title. The client must have full or partial ownership.

That is the easiest way of how to get out of a car title loan.

Carolyn Warren
Carolyn Warren
Author’s Page

Carolyn Warren was inspired to join the mortgage industry after observing what was going on for many years. She wrote a book, “Mortgage Rip-Offs and Money Savers”, which became Book Club pick of the month on The Washington Post in August 2008. The book earned great reviews from different newspapers, including the San Diego Union-Tribune and The Boston Globe. Carolyn Warren also wrote “Repair Your Credit Like the Pros”, a do-it-yourself guide that helps people achieve credit improvement. She boasts over two decades of experience after working for leading retail and wholesale lenders. Carolyn contributes to our website by writing articles that provide insight to our readers.

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