Are you interested in cash title loans? You’ve got a vehicle, but you need some cash, and you need it now. Fortunately, a loan option like a title loan can allow you to access your car’s equity by simply using your vehicle’s title as collateral.
Depending on how much your car, truck, or motorcycle is worth, you can apply for a cash title loan amount of as much as $50,000.1 Once you receive your loan, you keep your vehicle and make payments on the loan. Once you finish paying off the loan, your vehicle title is returned to you. You may wonder what exactly is needed to qualify for one. Cash title loans are a perfect option for individuals who require money in a hurry. It would be advisable to get all your documents together to be funded as soon as possible.
You might also be concerned about what documents are needed to get a cash title loan. You require a state-issued ID, along with other forms of state-issued identification such as a valid passport, birth certificate, state-issued identification card, social security card, or military identification card.
What Other Documents Would I Need To Get A Cash Title Loan?
The equity in a vehicle or truck is what is used to secure the loan. For a title loan, the collateral will be the title to that vehicle, which makes the approval process more flexible and convenient.5 The requirements for a car title loan can be easy and simple, allowing more people who require financial support to potentially qualify.5 You must supply the lender with essential information about your vehicles like their make, model, mileage, year, and condition. You must also provide important documents like the title of ownership, registration card, insurance, proof of income, and proof of residency.
The car title is the most important aspect of your title loan inquiry. Since the title is the collateral for the loan, a lien is placed on it during the repayment process, which lowers the lending risk. If the car title is not in your name at the time of the initial inquiry, you will not be eligible for the loan. You can, however, request a title transfer.
While your vehicle has a title loan, you must preserve full coverage insurance on the car until the loan is completely paid off. A wrecked car will have no value as collateral. So, the lender would require you to have insurance to cover any damage that might occur to the vehicle before the loan is repaid.
You are required by state law to register your vehicle in your name. If you have questions about how this process goes, just ask the agents at your local office of motor vehicles. Or, give a title loan agent a call at 855-561-5626 to learn more.
Proof of Income for Cash Title Loans
One of the most important factors for eligibility during the application process is your ability to repay the loan. That is why you are required to show proof of income. Some documents accepted as proof of income include pay stubs, social security statements, pension or retirement account statements, or a few tax returns.
Proof of Residence
Unfortunately, car title loans are not available in every state. In order for you to prove you are residing in the state you are applying from, you will be required to provide proof of your address. This can be done through recent mail like utility bills or even credit card statements.
A Few References May be Required to Get a Cash Title Loan
You may be asked to provide personal or professional references.
Where Can I Get A Car Title Loan?
Max Cash® Title Loans is always here to help. You can call any day of the week! Max Cash Title Loans offers their customers many benefits such as:
- Numerous lenders: The possibilities are incredible when you use a connected broker like Max Cash Title Loans! There are many different lenders to work with.
- Swift Emergency Cash: If you are qualified, you could get your cash in no time!
- Get Connected: Here at Max Cash Title Loans, we do the hard work for you. That’s why we can try to connect you to a loan that fits your needs! 5 We are the #1 Nationwide Title Loan Marketplace.
Do you want to see if you can qualify for a car title loan with the help of Max Cash Title Loans? To get started on your inquiry, all you need to do is fill out this simple online inquiry form!