Can I Get A Title Loan Without A Clear Title?
Can you get a title loan without a clear title is often asked of us. If you do not have a clear title because you already have a lienholder on it, then you will not be able to get an affordable car title loan.
You must have a clear title, with no other lienholders on it for you to qualify, if you have paid off your previous loan, and the bank or finance company has sent you the title back with their stamp on it and signed off on the title, then you are fine.
A singened-off title with the company stamp even though you have not gone to the DMV to remove their name from the title is fine, that is considered a clear title.
Title Loans With Title Not In Your Name
If your title is not in your name yet because you have not gone to the DMV, you will still be able to get a title loan with it, but you will need to transfer the title into your name, even if you have a salvage title.
To qualify for auto title loans, you must have a clear title, and it needs to be in your name, as you are going to use the equity that you have in your vehicle, to get the cash that you need.
Using your vehicle equity the car title loan company will add their name to the title as they will hold the title as the collateral, so a clear title is needed for them to be added as lienholder.
Transfer The Title To Your Name
When the title is not in your name, but you have the bill of sale and the title signed over to you, it is not legally yours until you fully transfer the car into your name.
The process is easy for you to transfer the title into your name, you will need to take the documentation to the DMV, and submit your paperwork, you will need to pay the transfer fees, and the taxes.
Getting the new title, will depend on what state you live in, but it will usually take up to 30 days for you to receive the new title in the mail.
With the new title in your name, you will be able to apply and get your auto title loan, so the clean title, the car title loan company can complete the funding by adding their name to your title.
Lost Title And Title Loans
If you have lost your title to your car, and you want to get an auto title loan, you cannot get one without a title, so you will have to go to the DMV, and apply for a duplicate title.
Replacing a lost title is easy with the duplicate application, you will need to provide your driver’s license at the DMV, to prove ownership of your car.
With the registration in your name, filling out the replacement title application is easy, and you will have to pay the fees that the DMV will charge you.
How Can I Get A Equity Title Loan?
Getting an equity title loan is easy, and you can do the whole application online. to see if your car will qualify you will need to provide the year, the make, and the model of your car and most title loan companies will use the Kelly Blue Book to see the wholesale value of your vehicle, and they will give you a percentage of the wholesale.
If there is enough equity in your vehicle then you will be preapproved for your auto equity title loan, and your title must be in your name to get the money.
Items Needed For A Title Loan
The most important items for an auto title loan are that you have enough equity in your vehicle, you must show that you have enough income to support the title loan, and you have to have the title of your car in your name.
You can get a title loan without a vehicle inspection, all you have to do is to send over detailed photos of your car, with a photo of the VIN number, and the odometer reading
If the title is not in your name, then you will need to go to the DMV to do the transfer, to get it into your name.
The title must also be clear, so there cannot be any outstanding liens on the title from any other financial institution.
Getting A Car Tite loan With No Title
For getting a car title loan, you must have the title to your vehicle in your name, for you to use the equity that you have.
If the title is not in your name, the transfer process is easy with the replacement application form at the DMV, or the duplicate application.
Once you have the title of your vehicle in your name we will be able to help you with a title loan, no matter where you are living.