Are you wondering if you can get a title loan when the car is not paid off? Here at TFC Title Loans, we can help you, we always do our best to answer all of your questions.
We have the largest referral network of title loan companies in the nation, all of our partners are in compliance with the CFPB, so you will be getting the best lender.
Do you need some emergency money? Getting a title loan from us is easy. But what if your car is not paid off? Do you think you can not qualify for a title loan because you are still making payments on your car? You still may be able to qualify with us!
How To Get A Title Loan When The Car Is Not Paid Off
Can you still get a title loan when you are still making car payments?
Yes, we can help you to qualify for a car title loan when the car is not paid off. Your vehicle can still be used for a title loan even if it is not entirely paid off.
Car title loans are based on the equity that you have in your vehicle and not the balance you have remaining to the finance company.
There may be enough equity in your vehicle even if it is not completely paid off, so you will still be able to use it as collateral for your title loan contract.
To see if you have enough equity in your vehicle, you will need to know the balance that you have left with your current finance company, and then you can look up the wholesale value on the Kelly Blue Book.
FAQs About How To Get A Title Loan When The Car Is Not Paid Off
Can I Get a Title Loan If My Car Is Not Paid Off?
Yes, some lenders offer title loans even if your car is not fully paid off. They will consider the equity you have in the vehicle, which is the difference between the car’s value and the amount you owe.
What Is the Process for Getting a Title Loan on a Car That Is Not Paid Off?
The process typically involves providing details about your car, the amount you owe, and its current market value. The lender may pay off your existing loan and issue a new loan based on the equity in your car.
Are There Additional Requirements for a Title Loan on a Car That Is Not Paid Off?
Yes, you may need to provide more documentation, such as proof of your current loan balance, and the lender may require higher interest rates or fees due to the increased risk.
Expert Quote
“Getting a title loan on a car that isn’t paid off can be complex, but it’s possible with the right lender. Ensure you understand the terms and conditions to avoid further financial complications.” – Daniel Joelson, Consumer Finance Expert
What Vehicles Are Accepted For Title Loans While Still Making Payments?
If you are still financing your vehicle it is still possible to get a title loan on it, we will have to contact your lender, to get the actual payoff from them, as long as there is enough equity in it, we can help you.
Remember as long as you have enough equity value in your vehicle, we can help you, so it does not depend on a certain year, or type of vehicle, some older vehicles still have equity value, and some high mileage trucks, also hold their value.
All types of vehicles can qualify for our car title loan program. We can even refinance a title loan that you have with another company.
How Do I Get A Car Title Loan If My Car Is Not Paid Off?
If you would like to get a car title loan even if your car is not paid off yet, you will need to contact us, to see f we can qualify you by using your unpaid vehicle for a title loan.
As long as your vehicle has enough equity in it, we can help you with a vehicle equity loan, even if your vehicle is not paid off, we will be able to pay off your existing loan and replace it with our car title loan.
If there is enough equity in your vehicle you will need to submit a few basic documents, you will need to provide us with your license plate number, your VIN number, your proof of income, your proof of residence, and 5 personal references.
When you a submitted all of the documents, all you will need to do is to supply photos of your vehicle, so you do not have to go to a physical location to do it.
You will need to sign your title loan contract, and then decide how you would like to get the money. We can wire the money to your bank, you can come into a local title loan office in your neighborhood to pick up a check, or you can go to any MoneyGram to get your money.
TFC Title Loans has been helping people since 1994, we are here to help you get a title loan if your car is not paid off yet, we make it easy for you to get the money that you need, with your vehicle’s equity. Call now we are here for you!
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