Can I get a loan without my car title?

Auto title loans are a form of fast cash, a personal loan that doesn’t always require a credit check or proof of income. That means you will not be able to get a title loan without a car title to use as collateral.

How can I get a loan on my car title?

To get a car title loan, you need to own your car or have equity in it. A car title loan is a small secured loan that uses your car as collateral. Car title loans tend to range from $100 to $5,500 — an amount typically equal to 25% to 50% of the car’s value. The loan term is short — usually just 15 or 30 days.

What happens if I have a title loan on my car?

Your insurance company is not obligated to pay off any loans on your car – they only cover the actual cash value of the car in the moment before the collision. If you have full or collision coverage, the insurance will reimburse that amount, first to any lien holders, then, if there’s more left over, to you.

Is it easy to get a title loan?

A title loan is a fast and easy way to get cash using your car title instead of your credit score. When it comes to getting good information for car title loans, online resources are important.

How to get a title for your car?

The first step in obtaining a car title loan is to go to a lender that deals in this type of loan transaction and present the lender with the information the lender will use to process your loan. This information includes: A completed loan application. Your car itself.

What happens if you default on a title loan?

Another option is to simply stop paying, but that’s probably not your best option. Defaulting on a loan will damage your credit, and your lender will eventually repossess the car. As a result, you’re left with bad credit and no car, and you’ll probably still owe money.

Can a car title be used for a car loan?

While you have a car title loan, there is a lien placed on your car title. What this means is that the car’s title technically belongs to the lender you have the car title loan with. You use your car title as collateral for the loan, which means you are paying off a hold they have over your loan.

Can you get a title loan without a title?

CAN YOU GET A TITLE LOAN WITHOUT A TITLE? Although you can’t get a title loan-secured or pawn without a title or with existing liens, TitleMax® does offer a convenient application process for personal loans and lines of credit, which require no title at all.

Can a lien be placed on a car title?

While you have a car title loan, there is a lien placed on your car title. What this means is that the car’s title technically belongs to the lender you have the car title loan with.

What happens if you miss your title loan payments?

If you start to miss your monthly payments and continue to miss them without any communication to your lender, the delinquency can result in car title loan default. A car title loan default is the failure to repay a loan according to the terms agreed upon in your contract.