Many people often wonder if it is possible to get a Title Loan without showing the car. As a rule, most believe that this is impossible, but it is not.

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How can you get a Title Loan without showing the car?

When applying for a loan, many people bring their cars in, but this is no longer necessary! Lenders understand that it is inconvenient for a borrower to bring a car just to show it, because he can spend this time on more important things. Also, many people have faced the problem that locations for Car Title Loans are far from them, and they simply do not have time to go there, although they need a loan. Fortunately, a solution was found.

Car Title Loan requirements are very simple. All you need to do is send in some pictures of your car on the street. The car must be clearly visible, so it is better to take photos during the day. Just take some pictures with your phone and send them to us by text message. In some cases (such as a condition), you may be asked to shoot a video with the car turned on and running.

What are the benefits of Title Loans that don't require the car?

  • Convenient payment terms. Unlike Payday Loans, you don't have to pay one huge payment on payday. With this type of loan, you will receive convenient repayment terms for a period of 12 to 48 months, which will give you the ability to manage your monthly payments.
  • There are no penalties for early payments. Many lenders charge a fee if you want to pay off the loan before the contractual deadline, but the title lenders will not charge you for this. Thus, you can pay off the entire loan when you are comfortable.
  • Ability to use your car. Having received a loan, your car becomes just a collateral, which means that you can continue to use it as you did before the loan. Thus, all you have to do is make payments on time.
  • High chance of being approved. If you are worried that you will not be able to get a loan, call the lender and discuss the terms with him. You are also more likely to be approved if you are able to repay the loan.
  • Bad credit history is not a problem. Title Loans are issued to people with different credit ratings. This way, if your credit history is not a role model, you can still get a loan and be approved. YOu can also get a title loan with the registration if you have poor credit.
  • Ability to apply online. If you are busy and do not have time to show your car, you can do it online, as it is not only fast, but also convenient.

Since payday loan companies appeared on the market, borrowing money has become easier than ever before. Quick non-bank loans are invaluable help for people who have experienced temporary financial problems. They help you get to the first one and patch holes in your home budget. But what if you need $50,000 instead of $500? An alternative to an online loan can be a title loan.

There is no denying that owning a car makes everyday life easier. It accustoms to comfort, allows you to get anywhere without having to wait for latecomers of public transport.

According to statistics, every second adult American owns a motor vehicle. However, as it turns out, the car may also have other advantages that are not related to its intended use. Thanks to it, you can, for example ... get a title loan.

Title Loans Without a Title - How They Work

The mechanism of action here is very simple. You conclude a contract with a loan company that, in exchange for borrowing a certain amount of cash, takes your car’s title as collateral. If you don't pay back on time, the lender will have the right to keep the vehicle.

Importantly, most companies allow borrowers to use the car as standard during the term of the contract. Even if the car becomes a pledge, you will be able to use it normally.

The decision to borrow money against a car should be - as in the case of all other loans - carefully thought out. The consequences of non-payment can be extremely severe. Especially if you use your car for work or you commute to work every day.

Can I Get Title Loan Without a Title?

No, you must be the sole owner of the vehicle to qualify for a title loan. If you are not the owner and cannot give ownership to the lender, then you can only rely on an installment loan or a personal loan, but their amount is slightly lower than in the case of a title loan. When applying for a title loan, the lender usually requires you to provide the original or a copy of your title.

However, you can get a title loan if you are already using that car as collateral for another loan or if you can't find the title document itself.

How To Get A Title Loan Without A Clear Title

Generally, you cannot take out a title loan without showing proof of ownership, and you cannot get a loan if your car is already collateral for another loan.

In this case, you can use an auto equity loan. This type of loan allows you to get a loan for the amount that you own from the value of your car. If you, for example, paid off 60% of the previous loan, then you can borrow 60% of the value of the car.

How Can I Apply For A Car Title Loan Without A Title Document

If you do not have the original vehicle title document, you will need to obtain a copy from your service center. Each service center operates differently and you may either need to visit the center in person or fill out an online form.

Usually, when applying, you need to provide the following information:

  • When applying online, you need to complete and sign an application form.
  • ID card. You can provide either a passport or a driving license.
  • Title replacement payment. You can pay for this procedure by card, check or cash.

Who Can Benefit?

Before you reach for a title loan, carefully analyze your own financial possibilities. Borrowing money will only be a good idea if you can pay it back on time. Losing your beloved car can be a huge blow. Especially if you use the vehicle for work or for daily commuting.

Conditions For Obtaining A Title Loan That Doesn't Require A Car Or A Title

Although such a loan can be obtained by a person with a negative credit history and the one whose data has been entered in the register of debtors, the car must meet the lender's specific requirements in this case.

First of all, it must be of the right age. Most often, the upper limit is 8-10 years. The car must have a valid technical inspection and liability insurance. Importantly, the car should only have one owner.

Is It Worth Borrowing Money Against A Car?

There is no clear answer to the question of whether it is worth taking a car loan. Whether it will be a good decision depends primarily on your financial situation and the possibility of a timely refund.

If you can take out a loan from another loan company, be sure to compare the conditions of each of them. It may turn out that you will be able to successfully reach for cheaper and "less risky" financing.