The Basics of Getting A Secured Loan With Car Title

January 7, 2021 | Louis Tully

basics of getting a secured loan with car title

A secured loan with car title is often seen as an option for those that need to cover emergency expenses. However, there are still many people that aren’t sure how to use this type of loan, partly because they don't know just how simple and fast the process is.

Getting through the in-person inquiry process for a title loan could take as little as thirty minutes. In most cases, you could receive the cash that you are borrowing the same day or the following business day.

So let’s cover everything that you really need to know about getting a secured online title loan

Every Step To Get A Secured Loan With Car Title

1. Understand What A Secured Loan With Car Title Is

A title loan is a loan that is secured against the title of your vehicle. By securing the loan against the title of your vehicle, you’re getting an amount of cash which will be determined, in part, by the value of your vehicle.

However, don't worry. You will be able to continue to drive your vehicle for the duration of your loan. You won't lose access to the vehicle.

2. Determine Whether Your Vehicle's Title Will Qualify For A Title Loan

In order to get your hands on a title loan, your vehicle's title must meet three requirements:

  • The title must be lien-free
  • The title must be in your name
  • The title must be for a car, truck, or van.

The latter two requirements are pretty self-explanatory. However, some people aren't quite sure whether they have a lien-free title.

Generally speaking, if you have outstanding financing on your car's title, you do not have a lien-free title. If there are any charges on your title, you don't have a lien-free title.

You will be able to check your title documents to see whether there are any liens. 

3. Gather The Required Documents

You don't actually need that many documents to get a secured loan with car title. However, it is worth gathering them before you get in touch with Tennessee Title Loans, Inc., just to speed up the process a little.

Make sure that you have the following to hand:

  • The lien-free title to your vehicle
  • A government-issued ID
  • Your vehicle itself.

couple filling out title loan online

4. Fill In A Short Form Online

Got your documents? Fantastic! The next step will be to fill out the Tennessee title loan form.

You won't have to input much information, and we doubt it will take you more than a couple of minutes. When you fill in the form, you are basically saying " I want a title loan. Please get in touch with me with further information."

5. Speak With Us On The Phone

When you have filled in that form, one of our team members will get in touch with you.

They will make sure that you have the required documents for your secured loan with car title. They will also answer any questions that you may have.

They will then schedule an appointment with you at a location of your choice. It is vital that you have the vehicle that you are looking to borrow cash against its title.

6. Meet Us For A Vehicle Inspection

Once we meet you at a location of your choice, one of our friendly inspectors will look at your vehicle.

Using an industry-recognized system, we will be able to determine how much money your vehicle is worth.

Tennessee Title Loans, Inc. is able to lend between $300 and $2,500. We will also inspect the documents at the same time.

7. Sign Your Loan Agreement

If you are found to be qualified, we will hand you the loan agreement. We will walk you through it just to make sure that you understand everything. You wrap up the process by signing your loan agreement.

8. Receive Your Money

At this point, the process is done. We will have collected all the information that we need from you.

The cash that you are borrowing should be received on the same day or the next business day.

Other Things You Should Know About A Secured Loan With Car Title

It’s important to note that we welcome people of all credit types. Unlike other loans, you won't necessarily be turned away just because your credit history isn't the greatest. We take into account a variety of different factors, including the value of your vehicle, when we make the decision to lend to you.

We will also not ask about your income. There are no employment requirements for our title loans. In fact, a lot of the people that come to us for a secured title loan are currently unemployed or are receiving disability benefits.

Finally, there are no checking account requirements. If you don't have a checking account, we have alternative ways to get you your money.

applying is easy for a title loans online

Start The Inquiry Process Today

As you can see, getting a secured loan with car title isn't difficult to understand at all. It is a simple process, and our team will be there to guide you through every single step.

If you want to cover emergency expenses, you could qualify for a car title loan in Tennessee. Start by filling in the inquiry form today.