man thinking about flex loans

Why Do I Need A Lien-Free Title To Get A Flex Loan?

If you’re considering getting a flex loan, Tennessee Title Loans, Inc. may be able to help you out. Flex loans are ideal for individuals who need funds fast and have a lien-free vehicle title to use as collateral.

Getting one is quick and easy, and you don’t have to complete much paperwork. You do need to meet a few conditions, though; one of them is that your vehicle title must be lien-free. Let’s learn a bit more about this!

Do I Need A Lien-Free Title To Get A Flex Loan?

You Are Borrowing Against Your Vehicle

To get a flex loan (also known as a line of credit), you need to have a vehicle title registered in your name, and we need to know that this is the only company that has lent you money for the vehicle. A lien indicates you owe money on the car to another entity, whether that’s another lender or the dealership from which you bought the car.

When you take out a flex loan, you are borrowing money against the value of your vehicle. We need to know that you own your car outright to lend you the money because your lien-free title is collateral for the loan.

To get a flex loan, you must therefore be able to show a lien-free title when you bring your car in to be inspected. Our loan representative will check whether there are any existing loans on it, so you must clear these before you apply for a flex loan with us.

woman wondering about flex loans

Can You Have Any Existing Loans On Your Vehicle?

The exception to this rule is if you already have a title loan with Tennessee Title Loans, Inc. If we are already lending you money on the car as a title loan, we may still be able to offer you a flex loan in some circumstances.

Note that this is not guaranteed, and being able to get a title loan doesn’t mean you are automatically eligible for a flex loan. Still, it’s worth knowing that having a title loan on a vehicle won’t necessarily exempt you from taking out a flex loan on it in some circumstances. You can contact us to find out about your eligibility.

If you have an existing loan, let the loan representative helping you know, and they will discuss your options for lines of credit. You may be able to borrow up to $4000 with a flex loan, so it’s essential to bear this option in mind if you need funds quickly.

How Do You Get A Flex Loan?

If you’ve decided a flex loan is for you, you’ll be pleased to know that the process for getting one is ultra-simple. All you must do is follow the guide below:

  1. Fill in the online form on our website, which asks for basic details about you and your vehicle, including its make and model.
  2. Wait for a quick callback from our friendly loan representative. They can answer any questions you have, talk through the details of the loan, and discuss any areas of concern you might have.
  3. Arrange to meet with one of our agents at the nearest store. They will inspect your car quickly and determine how much you can borrow. This varies depending on vehicle make, model, and condition.
  4. While checking your vehicle over, the agent will also review your paperwork, so make sure you bring some proof of income, your state-issued ID, and the vehicle’s title to this meeting. If you aren’t sure what to get, ask the telephone representative, and they’ll gladly help!
  5. Wait for the agent to tell you how much you can borrow, and then sign the documents and leave.

You’ll then be able to draw funds against the vehicle’s value whenever you want to, for a certain period. You don’t need to borrow money immediately if you don’t want to. You’ll have the option available when you need it. Depending on your eligibility, you can have access up to $4000 in emergency funding.

woman with flex loan cash

Get Your Flex Loan Process Started Now!

Tennessee Title Loans, Inc. is a great place to start if you need a flex loan and have a vehicle available. We offer loans to individuals in all kinds of financial situations, including those with poor credit or no credit history.

Getting a flex loan through us doesn't take much as long as your vehicle title has no existing loans. If you need more help, fill out the online form on our website. One of our agents will be glad to assist you!


Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Louis Tully

Louis Tully is a full-time finance writer offering financial expertise to everyday consumers. He understands the core values of finance and used his writing talents to share his own experiences with money to his readers. His articles teach how financial failures can easily become successes by making new habits and creating realistic goals.