Frequently Asked Questions
A title loan (often referred to as a title pawn) is a convenient way to get cash for people who own their car. As long as you own your car and have a lien-free title, you can use it as collateral to get cash. Car title loans can be simple to qualify for because you are using the money you have already put in your vehicle to secure a loan today.
Documents needed will vary by lender; however, most require that you are at least 18 years old and have:
- An Auto Title (free and clear of any liens)
- A Driver's License or State ID
- Proof of residence (such as a utility bill)
There is no cost from Title Loan 24/7 and you are not obligated to accept any loan offers. After submitting your online form, you can decide that this may not be the ideal option for you.
Yes! Most lenders do not care about your credit score. Title Loan 24/7 can help you obtain a title loan regardless if you have good credit, bad credit, or no credit.
A lien-free title means that you own your car outright and do not owe any money on it.
The amount a lender will provide varies based on the value of your vehicle and your ability to repay the loan. Some lenders will lend up to $15,000 depending on your state.
Once your vehicle has been appraised and if your loan is approved, the lender will fund your loan right away. Funding times may vary depending on your bank or method of receiving the loan payment.
The fees associated with auto title loans will vary from lender to lender. We advise you speak with your loan representative to find out the cost prior to taking out the loan.
Your monthly installments will be determined by the lender and will vary based on certain factors that are taken into consideration such as interest rate and the length of time that it will take to repay the loan.
It is your responsibility to make loan payments by the due date. Most lenders make it simple for you to repay on time. If you are unable to make your payment by the date due, we suggest you contact the lender immediately to make appropriate arrangements.
Payment options will vary by lender. Please speak with your loan specialist to find out what payment options they offer.
Once you submit your online form, if connected with a lender, a loan specialist will contact you shortly to explain the process and determine your qualification. Approvals are based on verification of your provided information by the lender and the appraisal of your vehicle. Some lenders may be able to approve you the same day.
Yes, a title loan will only affect your title and registration but not the physical location of your vehicle. You have full access to your car when obtaining a title loan.
Some lenders will pull your credit when you make a request for a title loan but not all. Additionally, some lenders will report your title loan payments to the credit bureaus to help you reestablish or repair your credit. Please speak with your loan specialist to find out their policy.
Typically payday loans range between $100 and $500 with shorter repayment terms. A title loan offers you the ability to borrow more money (based upon your state and the value of your car) and repayment terms can extend up to 36 months.
While most lenders would like a free and clear title there are some who are willing to loan on your car if it is close to being paid off and you are in an equity position. Please speak with your loan specialist to determine their policy.
These terms simply mean that you own your car outright and have the title to it with no loan balances or liens against it.
The process of getting a new or duplicate title or flipping your title into the proper state will vary by state. While some lenders can help you with these efforts, you can also visit your local DMV for title work help.
Absolutely. All of your information is confidential and we take all precautions including the latest encryption technology to ensure that all of your personal information remains confidential. If you cannot find the answer to your question, then feel free to contact us.