Can I Get a Title Loan Without a Clear Title?
Car title loans are secured loans that can allow you to access a percentage of your car’s value by using your car, truck, or motorcycle title as collateral for the loan.1 Generally, if you are interested in applying for a title loan, you will need a lien-free car title in your name to apply for funding. So can you get a title loan without a clear title?
The answer is yes, you may be able to qualify for a title loan even without a clear title. It all depends on the lender you decide to work with and the reason for the lien. Some lenders will automatically deny you if you do not have a clear title in your hand at the time of application. Others will still be willing to work with you.
Here at Max Cash Title Loans, we can help connect you to some quality lenders in the business if you qualify.2 Those lenders could potentially help you obtain a new or clear title if you are in need at the time of your inquiry. Call 855-561-5626 or fill out a short online form to get started!5
What is a Clear Car Title?
A car title is a type of legal document that proves you own a vehicle. This document becomes useful in the event that you have to prove yourself as the owner of the vehicle.
The title will include a lot of information about your vehicle, including its VIN (Vehicle Identification Number), make, model, style, miles, etc. This essential document can save you a lot of stress and hassle, especially when the government and law enforcement are in the mix.
Why is My Car’s Title Not Clear?
A clear title is a car title that does not have any current outstanding financial obligations. That means that you do not currently have a financial lien from a lender on the title that could prevent it from being sold. Essentially, a clear title is a car title with no lien or claims. In other words, having a clear title means that you fully own the vehicle and there are no outstanding loans against it. Your title could have a lien from a title lender or a lender that financed your car loan.
Why Do I Need a Car Title to Get a Title Loan?
Many people go through difficult times when they are not doing well financially. A few unpaid bills or expenses could knock you off your feet. When that happens, a title loan could be a solution to consider. But, why do you need a car title to apply? And is it possible to get a title loan without a clear title?
As mentioned above, the answer depends on the reason why you have a lien on your car’s title, as well as a few other factors. Typically, you will need a lien-free title to a qualifying vehicle in your name to qualify for a title loan online. This is because title loans are secured loans. The title is the star of your application! Without a lien-free car title in your name, you don’t have a way to prove that the vehicle is yours to guarantee the money. Let Max Cash® Title Loans walk you through the ins and outs of applying for an online title loan without a clear title!
How Can You Apply for Auto Equity Loans Without a Clear Title?
If there is a lien on your car’s title, then the title is not yours to use as collateral for another loan. A lien could be placed because:
- You are Financing Your Car
- You Currently Have a Title Loan
For those who do not have a clear title, it means they have a car title loan or car loan and haven’t paid it off completely. So how can you get a title loan without a clear title?
Getting auto equity loans without a clear title can be more complicated. This is because you do not fully own the car as long as the lender is yet to release or officially erase the vehicle’s lien. A title lienholder is someone who has a legal stake in your vehicle. It can be a bank, a lender, or a car title loan company.
To get a car title loan without a clear title, you may have to inform the current lienholder or company in charge of the loan. This is because you must present your car title at the time of your loan request.
Even if your current car loan or car title loan is nearly paid off, your lender still has some control over the car title. To get a new loan, you need to pay off the old one. But with which money? You may be able to get a title loan on a financed car or refinance your existing title loan if you work with the right lender.5
Call a Max Cash Title Loan agent to learn more! Just dial 855-561-5626 today. Agents are available seven days a week to take your call!
Find Out if You Can Refinance a Title Loan Without A Clear Title
If you do not have a clear title because you have a current title loan, one of your options could be to refinance your existing loan! Max Cash Title Loans can potentially help you get connected to a title loan online or near you. 5 We are proud of the engagement we give our customers. It could be time to refinance with Max Cash Title Loans if you haven’t been treated well by your existing lienholder. Or, if you are new to title loans, consider applying through the website today!
If you are looking to refinance your existing title loan, you will go through a similar title loan application process, even if you do not have a clear title. Refinancing can be beneficial if your current interest rates are prohibitive. Suppose your credit history has significantly improved since you took out your title loan. In that case, you can potentially refinance at more favorable terms.4 5 Send in your application, and we’ll see to it that we investigate what your potential options are.5
Can I Apply for a Title Loan Even if I am Financing a Car and Do Not Have a Clear Title?
Yes! If you are currently paying off an auto loan and that is why you do not have a clear title, the first thing you will need is a payoff letter from your current lender. Or, just sign a permission form with your lender that authorizes them to obtain the payoff amount for you. Once you have that, you can figure out how much equity your vehicle has and then consider your potential loan amount.1 Whatever you still owe on your auto loan will be added to your principal title loan amount. You will be responsible for paying the total amount back. After you’ve done the step above, apply for a car title loan and see what you can qualify for!1 5
Benefits of Using Max Cash Title Loans to Get a Title Loan Without a Clear Title
Max Cash Title Loans is one of the top nationwide title loan referral services. If you are qualified, you can potentially receive a deal on a car title loan in your area through our extended network of non-traditional lenders.
- The Convenience of Online Servicing: Max Cash Title Loans can do the heaving lifting for you. You can apply with Max Cash Title Loans online! Which means you can potentially obtain the funding you have been seeking from the comfort of your home.5
- Excellent Service: Our loan agents are also accessible seven days a week with extended hours, so you can get the help you need without jumping through hoops.
- Fast Response: You can expect fast and efficient service with Max Cash Title Loans! When facing a financial emergency, you can’t afford to waste time. Max Cash Title Loans is open 7 days a week for your convenience!2 5
What Documents Will I Need to Get a Title Loan Without a Clear Title?
The amount you can obtain through a car title loan is largely determined by the brand, model, year, mileage, and overall value of your vehicle.1Just fill out the Max Cash Title Loan online form to get started on your loan inquiry today. Before you can get approval for a car title loan, however, you will need to submit a few documents and meet a few requirements. These documents verify your income, vehicle, and identity.5
Documents required for a title loan are:
- A car title.
- Valid government or state-issued photo identification (e.g driver’s license)
- Proof of income.
- Proof of address.
- Pictures of your car (all sides and the odometer).
- Three references (with their phone numbers and other details).
- Insurance (not all lenders require this).
- Your Social Security number.
In addition to having these documents on hand, you must be of age to submit a loan application. Additionally, you will need to have a car title in your name and proof of your ability to repay the loan, along with a car with enough value! Complete the online form or call 855-561-5626 to see if your car has enough value to prequalify for a title loan.5
Apply Immediately for a Title Loan with Max Cash Title Loans
Gather your documents together to speed the application process along! Find out if you can get a title loan without a clear title in no time. When you have all of your paperwork ready, you can call us at 855-561-5626 to get started. Go ahead and fill out the online form. Our title loan agents are standing by to help!