• Skip to content
  • Skip to primary sidebar
  • Skip to footer

Just Cooking

Master Kitchen GINA

  • Home
  • Nutrition & Healthy Food
  • Kitchen Gadgets
  • Taste The World
  • Lifestyle
  • Pets | Cats | Dogs
  • Write For Us
  • About Us
  • Privacy Policy & Disclaimer
You are here: Home / Lifestyle / Car Title Loans Requirements: Do I Need to Have My Title on Hand?

February 14, 2020 Lifestyle

Car Title Loans Requirements: Do I Need to Have My Title on Hand?

If you’re strapped for cash and have an emergency, a title loan may be one of your best options at the time. Title loans have gotten a black eye in the world of finance, but they can truly help you out. After all, more than 2 million people in the United States use them.

To learn more about title loan requirements, keep reading.

How to Get a Title Loan

A title loan is a loan where you use the title of a paid-for vehicle as collateral. Title loan companies are a great option if you have bad credit from poor financial decisions in the past. Most title companies do not run credit checks and will accept clients with bad credit.

This means that to get a title loan, you usually need to just fill out paperwork and produce the title of your car.

Title Loan Requirements

Because of their leniency, most title loan companies have few requirements. They often require you to be a U.S. citizen or at least a permanent resident. You also typically need to be 18 or older and have a regular source of income.

All of these things make you a good risk. The company is hopeful they will receive the money that they lend you.

Because your title acts as the collateral for the loan, rarely can you find title loans that don’t require the car. Essentially, you will not need to show the company the car, but you will need to produce the title of the car to obtain the loan.

Once you have secured a loan and handed over your title, the title loan company owns your car since they possess the title. As soon as you pay off your loan, the company gives you the title back, and you walk away with your car.

Can You Get a Title Loan on a Refinanced Car?

To obtain a title loan, you must have a clear title, meaning that you must own your car. You cannot get a title loan on a refinanced car. If you have paid off your car loan and own your car, you can use it as collateral for this loan.

If you purchased the car from a neighbor with a handshake deal but still do not have the title, then you may not use the car as collateral. You need to have a free, clear title with no strings attached.

Getting Out of the Loan

You may be wondering how to get out of a title loan without losing your car. If you default on your title loan, the title loan company will repossess your car. You do have options that can prevent this, though.

First and foremost, make a plan on how to pay back the debt, and then stick to the plan. This is your best bet for not losing your car.

If something else happens that prevents you from paying back the title loan company, you can always seek out a second loan from a different company to pay them off. You can also take some time to visit the lender and attempt to negotiate.

Many title loan companies pride themselves on their flexibility, so negotiating may just work.

Know the Requirements

Understanding title loan requirements will help you make wise financial decisions and keep money in your pocket.

Keep visiting our blog for more interesting financial articles.

Read more:

  • Gotham Steel Pan Reviews
  • Best Toaster Ovens Under $100
  • Best Lump Charcoal Guide
  • Best Fillet Knife For Fish
  • 5 Tips For Investing In Cannabis Stocks
Spread the love

Categories: Lifestyle

Previous Post: « 5 Tips For Investing In Cannabis Stocks
Next Post: How to Choose a Catering Company »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

About Us

Hey All!! Welcome To “ginafordinfo.com“. I’m Gina A. Herrera – a blogger and a chef. Besides taking care of my kids, I usually spends time writing about the countries that I has been to, the cultures that I has experienced, and the foods that I has tasted.

Recent Posts

  • 5 Must-Have Kitchen Appliances to Buy This Year

    5 Must-Have Kitchen Appliances to Buy This Year

    August 4, 2022
  • Top Travis Scott Shoes For Men; Guide And Benefits

    Top Travis Scott Shoes For Men; Guide And Benefits

    August 3, 2022
  • 4 PERKS OF USING AN ONLINE WEED DELIVERY SERVICE

    4 PERKS OF USING AN ONLINE WEED DELIVERY SERVICE

    August 3, 2022
  • Installing Solar Panels: Are They Really Worth It?

    Installing Solar Panels: Are They Really Worth It?

    July 30, 2022
  • 10 Tips On How To Deal With Morning Sickness In Pregnancy

    10 Tips On How To Deal With Morning Sickness In Pregnancy

    July 29, 2022
  • Seafood Safety: What Consumers Need to Know

    Seafood Safety: What Consumers Need to Know

    July 29, 2022
  • Valuable Tips To Cope During A Stressful Divorce

    Valuable Tips To Cope During A Stressful Divorce

    July 26, 2022
  • 4 Awesome Reasons to Take a Trip to Texas

    4 Awesome Reasons to Take a Trip to Texas

    July 21, 2022
  • How to Decorate Your Home: Stylish Tips and Tricks

    How to Decorate Your Home: Stylish Tips and Tricks

    July 20, 2022
  • Is Moving Abroad the Right Decision for You?

    Is Moving Abroad the Right Decision for You?

    July 20, 2022

Recent Posts

  • 5 Must-Have Kitchen Appliances to Buy This Year
  • Top Travis Scott Shoes For Men; Guide And Benefits
  • 4 PERKS OF USING AN ONLINE WEED DELIVERY SERVICE
  • Installing Solar Panels: Are They Really Worth It?
  • 10 Tips On How To Deal With Morning Sickness In Pregnancy

Time For Shopping

Footer

https://ginafordinfo.com/ is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.

Disclaimer: This site does not provide medical or legal advice. This website is intended for informational purposes only and not intended to be a substitute for professional medical advice, diagnosis, or treatment. Statements made on this site have not been evaluated by the Food and Drug Administration and any information or products discussed are not intended to diagnose, cure, treat or prevent any disease or illness. We make no warranties or representations as to the accuracy, validity, timeliness or suitability of the information contained on this web site for any purpose.

Our Reviews

  • Gotham Steel Pan Reviews
  • Best Toaster Ovens Under $100
  • Best Lump Charcoal Guide
  • Best Fillet Knife For Fish

Copyright© 2022 · by Shay Bocks