Title Loans: How To Make Money From Your Car Without Selling
December 7, 2020 | Mason Roberts
Did you know that you can actually receive money for the car you are driving right now, and you don’t even have to sell your car? Title loans online make that possible, and they can be a huge help when it comes to paying off short-term expenses that might otherwise hold you back financially, like medical emergencies or home repairs.
Traditional loans will often come with an in-depth application and approval process. Car title loans make it easier to get a loan because the loan is secured with your vehicle's title. Furthermore, they’re easy to obtain thanks to our easy application process. With this article, we’ll cover everything you need to know about how to use the title to your vehicle to secure emergency money. Let’s get started!
What Exactly Is A Title Loan?
Title loans online are similar to payday loans in the sense that it is a short-term loan that you can receive with little or no credit. They come with a variety of different advantages, which includes:
- You can receive the cash fast even with little or no credit.
- They won’t affect your credit score.
- You get to keep and operate your vehicle as normal.
- You only need to supply a few basic pieces of information to secure your loan today.
The main difference between a title loan and a payday loan is that title loans are secured loans. In other words, you will have to put something up as collateral for the loan, and with a title loan, that would be the title to your vehicle. Depending on the value of your vehicle, title loans can typically offer anywhere from $100 up to $15,000 or more in cash for you to cover your short-term expenses.
The loan provider will simply hold onto your vehicle’s title until you have paid off the loan. This means that there will be minimal disruption to your life and, the good news is, that it makes it easier for you to get a loan since you are putting up collateral.
How Do You Secure A Title Loan?
You Must Own Your Vehicle
First and foremost, you need to actually own your car or at the very least have equity in it in order to receive a title loan. If you do not have the title to your car, then you obviously cannot put the title up as collateral for the loan.
You Must Have The Right Documentation
The information that you’ll be required to provide during your application is pretty basic especially compared to traditional lenders where you’ll likely be asked to provide quite a bit of information. Here’s a list of everything you’ll be asked to supply during your application:
- The original title to your vehicle that’s in your name. It must also be lien-free, which means it can’t be attached to any other financial commitment.
- Your valid government-issued ID that matches up with the title.
- Your vehicle for inspection which determines the value of your loan.
Once you have all of that in place and ready to go, you’re ready to meet with a representative! You can start your application by filling out a short online form found on our homepage, after which a representative will contact you to schedule a time to have your car inspected. You’ll find out during the inspection how much you’ll receive and it’s that simple!
What Should Title Loans Be Used For?
Car title loans are best for anybody that needs to get money immediately to pay off any emergency expenses. This is because the approval process for a title loan is quick and straightforward, so you do not have to spend a lot of time or energy just to get the money. Here are just a few expenses that you might use a title loan to cover:
- Sudden home repairs
- Unexpected, but important travel
- Medical expenses
Usually, these sorts of sudden expenses can start to snowball and create a huge financial burden for individuals as time moves on. The sooner you can pay them off in full, the better off you can be.
Need A Title Loan Soon?
We can provide you with fast cash today, with no store visit required! Even though you’ll have to meet a representative to have your car inspected, we come to you, at the location and time of your choosing.
You will get same day or next day funds for your title loan, and you do not have to give up your vehicle. Getting a loan like this should be simple, convenient, and should not be wasting any more of your time or effort than what the loan is actually worth. That’s why we make this process easy for you. So, start your title loan, Wisconsin application today.