When you think about title loans, you might wonder if you can only borrow against the value of normal cars, like sedans and SUVs. However, that’s not always the case! Title loans cover multiple kinds of vehicles–if you own a truck, motorcycle, RV, or even a salvage vehicle, there’s several different types of title loans you could qualify for.5
Title loans are designed to help people from wide financial backgrounds, so it makes sense that there’s also a wide variety of title loans available. Max Cash Title Loans has compiled the different types of title loans here so you can decide which one may be best suited for you.
What are the Different Types of Title Loans?
If you’re trying to decide if a title loan is the best option for you, knowing all the facts first can go a long way. In fact, you could use a qualifying vehicle that you no longer drive as collateral for a title loan today!1 5 Below are five different types of title loans you could get:
- Car Title Loans: A traditional title loan that uses a standard qualifying vehicle as collateral. This kind of title loan would be on something like the everyday car that you use for driving to work, etc.
- Truck Title Loan: If you own a truck, you may be able to use it as collateral for a title loan. You will need to speak with your title loan lender specifically to verify that your truck qualifies as proper collateral for a title loan.
- RV Title Loan: Many Americans own RV’s, taking around three trips a year–but now it’s possible to use them to secure certain title loan funding, and keep traveling the highways! As long as you can find a lender willing to work with you, then you can get a title loan on an RV.
- Salvage Title Loan: If you have an extremely old or salvaged car, you can possibly use it for a title loan. Keep in mind that funding for a salvage title loan would be extremely low, so a salvage title loan may only be a viable option if you have absolutely no other means of getting the funds you need.
- Motorcycle and Boat Title Loans: You can now potentially borrow against the equity in your motorcycle or boat to secure a title loan when you need cash fast. With both motorcycles and boats, the more they are worth, the more you could be funded, depending on your lender, state of residence, and other factors.
As you can see, there’s many kinds of vehicles that could be eligible for a title loan. If you’re wondering how much your personal vehicle could get you, try our Title Loan Vehicle Values directory of over 450 vehicle makes and models to see how much you could receive fast!
What are the Benefits of Different Types of Title Loans?
While there are many types of title loans, they all have similar benefits. Title loans have been a convenient option for fast emergency funding for people throughout the U.S., so there is a chance they may be right for you, even if you have a lower credit score.
Check out just a few of the benefits that keep people coming to title loans for short-term essential funding:
- Fast Approval: When you’re experiencing a financial crisis, waiting is something you don’t have time for–but title loans have a quick, streamlined process. Upon approval, it is possible to receive funding as soon as the same day, or the very next business day.
- Convenient Terms: Title loans are also known for their convenient payback terms. While title loans are meant to be a form of short-term emergency funding, it may be possible to extend payback terms up to best accommodate your financial situation.
- Competitive Rates: The title loan industry is notoriously competitive. Max Cash Title Loans uses this environment to our advantage so you can get the best deal on a title loan. Some loans even have flexible rates, but this varies by lender and state regulations.
- Flexible Process: Since title loans are meant to help people out during times of financial stress, it is only natural that the process be as easy as possible. From the very start, there is no obligation, and if you’d like to re-visit terms or rates during the life of the loan, there’s always the option to discuss that with your lender at your convenience.
To learn even more about the different types of title loans and how they could benefit you, Max Cash Title Loans has informational pages that may be helpful!
The Different Types of Title Loans for Emergencies
Sudden medical bills, car repairs, or late rent payments can pile on the stress, with 59% of Americans unable to handle a $1,000 emergency. If you need a loan, traditional banks may turn you down if your credit is poor, or seen as “high risk.” This is where different types of title loans enter the picture, and bad credit isn’t as important because your vehicle is the collateral.
With the different types of title loans available, you also don’t have to sell any of your assets to get quick cash, and it may come with flexible repayment terms set specifically to your financial needs. If you’re facing an emergency, Max Cash Title Loans assists in connecting you to the lender that’s right for you. Call (855) 561-5626 to learn more!1 5
What Type of Title Loans Are Approved the Fastest?
Title loans are everything other loan options aren’t, including a potentially super-fast approval when time isn’t on your side, even if you have no job or you’re self-employed. No matter which different type of title loan you choose, all you’ll need to provide is the vehicle’s title in your name, proof of your address and valid I.D., and you can get started online.
If you’re looking to be approved fast for a title loan, the sooner you submit the necessary documents or other requirements your lender may have, the sooner you could be instantly pre-approved for a loan. Max Cash Title Loans is available 24/7, and a loan agent is ready and waiting to answer your questions!2 5
Get the Type of Title Loan That is Right for You
No matter what kind of vehicle you have, a title loan could be a convenient option for you when you need cash to cover emergency expenses as fast as possible. Max Cash Title Loans is here to get you the best deal on a title loan, whether your car is a “normal” everyday vehicle, or an RV, motorcycle, or even a boat.4 5
To kickstart the Max Cash Title Loan process, you can:
- Call or text us at 855-561-5626
- Fill out the short inquiry form on the Max Cash Title Loan website
- Email us at info@maxcashtitleloans.com
Why wait? Start today and get your money as soon as the same or by the next business day, if approved!2 5