About Car Title Loans...

If you are in need of some emergency cash or are looking for some extra funds to finance a purchase, taking out a car title loan is an option you may want to consider. Title Loans have the ability to offer fast convenient funding.

These loans can be a great way to get the money you need very quickly. The main benefit of car title loans is that they are fast, easy and can often be applied for online without a credit check. It is recommended that you have a plan as to how to repay your loan, as your vehicle will be used as security. We prefer to lend to applicants with two vehicles - so if there was the event of losing a vehicle you still are able to transport yourself to work.

Over 2 million title loans are financed each year in the US, so chances are if you have not taken out a car title loan online out someone you know has. Title Loan lenders fill an essential gap in servicing customers who fall outside the traditional banking system that would have no options to borrow money when needed.

However just because something is popular does not mean that it's right for you. At True Financial we take the approach that any financial commitment should only be entered when properly thought out and considered and entered into with full, clear information. A title loan is a high cost loan, and only recommended for short term borrowing. When used sensibly they help solve a financial situation. We are in the business of helping people and we require you to demonstrate how you will repay your loan before we will fund you.

The FAQ's

Will I still be able to use my car?

This is one of the best aspects of a car title loan and what makes it an attractive option to millions of Americans.

You can use your car as long as you are making your payments to pay back your loan. You can continue using your car with no restrictions while you are repaying your loan. That will only change if you fail to pay back your loan, in which case your lender will have the option of repossessing your car to sell and make up what you owe.

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Typically how much will this loan cost me?

Interest rates are crucial to pay attention to and one of the most important things to look for when comparing title loan companies. Interest will have a huge impact on the overall price of your loan greatly because they reflect the percentage of your loan that you have to pay on top of the cost of the loan itself while you pay off your entire loan. The percentage can vary widely depending on what title loan company you are working with. Title loan regulations vary by state to state for instance a car title loan in California will have different rules to a car title loan in Ohio as each is administered by the respective states.

The average interest rate attached to a car title loan across the industry is around 25%, and varies depending on the year and quality of the vehicle as well as your credit history.

Knowing what your interest rate is in a loan will give you the insight you need into whether or not you will be able to pay back the loan within the payment term. It will also let you estimate how long it will take you to pay back your loan, and how much interest you will accrue over that time.

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Though many completely online car title loan companies charge some kinds of fees upfront, many lenders also charge additional hidden fees that can really add up during the life of your loan.

When comparing companies, make sure to a get a quote from each car title lender before you eventually decide which car title loan company is the best for you. If you come across a title loan company that is wholly unwilling to give you a quote or reluctant to divulge what hidden fees you might encounter, you would be wise to avoid.

What is the difference between online versus physical title loan lenders

Usually, people who are considering taking out a car title loan are doing so because they are facing a financial emergency and – due to a number of circumstances – have decided that taking out a car title loan is the best option for them.

Online title loans typically can be conducted more conveniently and are useful for people living away from major cities.

In Store title loans may be quicker once you are in store as you can complete all the paperwork there and then and collect the cash at the same time.

What types of autos can you get a title loan on?

Title loans are available on a range of vehicles including cars and trucks and SUVs. Older and high milage vehicles also qualify for a title loans, see more here Title loans for high mileage vehicles. We also are able to help even where there are issues with the title. For a salvaged title vehicle, yes you can get a title loan on a salvage title right here easily and quickly online.

How long does it take to get a title loan online?

If you’re in need of money quick, a car title loan can be a great option to consider. Especially if you are not lucky enough to have the kind of credit score necessary to qualify for a personal unsecured loan. Car title loans are all about fast cash, and many companies can get you approved, and get your loan to you within hours.

Usually, people taking out a car title loan can expect to have their money with 24 hour title loans available here at True Financial. The timeline certainly does depend on the borrower, as lenders can only approve the documents you submit as quickly as you submit them, but once you do that, companies are typically motivated to get deals done, and get your cash in hand, as soon as possible.

How much money will I receive if I get a title loan online?

The amount of money you can expect to get out of your loan is entirely dependent on the value of your car. The more it’s worth, the more you can borrow.

It is also important to note that many car title lenders will only work with you if you have full ownership of – or equity in - your car. Your title must be lien-free and you will have a harder time getting a car title loan online if you still owe money on your initial car loan.

If car title loans are available in your state, they can be a great source of fast funding

The average value of a title loan is anywhere between $100 and approximately $5,000. Some companies have a minimum amount(usually between $1,500 and $2,500), and other companies have a maximum. That maximum typically tops out at $50,000 across the entire industry. Though, be aware that it is very rare for a car title loan to be worth anywhere near that.

While your loan amount is based off the value of your car, do not expect to get a loan worth the total amount of your car. You will typically be able to borrow between 25 percent and 50 percent of your car’s total value. You’ll know how much you are eligible to borrow before you finalize your application.

Can I get a title loan with no inspection?

Yes we are able to provide a title loans online no inspection however we will need to see images of the vehicle when conducting the loan completely online. These can be provided vias your smartphone or sent via email. Call us today to find out more about how the process works.

Does my car have to have a minimum value?

To put it simply, yes it does. Vehicles typically have to be at least $2,000 to qualify as collateral in order to qualify and in turn get a car title loan online. On top of that, some companies require your car to be beneath a year or mileage threshold as well.

What documents do I need to apply?

This depends on what company you are borrowing with. Sometimes you don’t even need a bank account to be approved for a loan, but overall these are the documents you can be expected to present.

  • A Government Issued ID
  • A Proof of Income
  • A Proof of Insurance
  • Proof of Residency
  • Vehicle Registration and title even if its not clear

If you are looking to get a title loan online, you will also be asked to provide pictures of your car so that your online title lending company can evaluate its worth.

What if I don’t have proof of income?

This depends on the company that you are lending to. Some companies require for you to make a minimum amount per month to apply, while others accept applications with no proof of income. Sometimes when financing more marginal applications, such as where the is an older vehicle through our program where we finance car title loans for older cars we look more closely at your income and ability to repay the loan, to help ensure you are being put in a loan that is comfortable for you.

If you are not working but have a different form of income, most online title loan companies will accept other documents in its place. Documents such as disability, pensions, a retirement account, social security, or unemployment benefits can also be used.

How does my credit impact my ability to get a car title loan online?

Whether or not you are subject to a credit score check before you are approved for a loan depends on the company you are attempting to borrow from. Some lenders require no check. Other’s make a credit card check a necessary aspect of granting a loan. But certainly you can apply online from the comfort of your home. Find out more here.

Primarily, however, it is important to remember that the value and your ability to take out a car title loan is primarily based on the value of your vehicle.

What a credit score check is typically for is so that lenders can try to predict whether or not you will be able to pay back your loan. Bad credit is not necessarily a deal breaker, but good credit could give you the opportunity to enjoy better loans and better repayment options.

Will a car title loan affect my credit score?

This depends if your lender reports your credit or pulls your credit. We do neither. This means that through the ordinary course of apply for a loan and paying off your loan, our loan will not help your credit or detract from your credit.

We do not pull credit for new loans or for refinances

Refinances through a company that buys out title loans such as us, True Financial are done with no credit check - so there is zero impact on your credit score. Find out more by phoning us or visiting True Financial in person.

How long has True Financial been in Business?

True Financial has been in business for nearly 5 years, with many satisfied customers. This is one of the first things you’re going to want to check when applying for a car title loan. As a customer who may have no experience or knowledge when it comes to taking out this type of loan, it’s important to work with professionals who understand the business.

One of the best ways to make sure that they know the ins and outs of the business, is to find out how long they’ve been in business for. Loans, interest rates, and payments can often be somewhat difficult to manage and it is important to find car title lenders who have years of experience working with you on the other end. Professional finance companies work with you and understand you may fall behind from time to time. They respect you and dont resort to aggressive bullying tactics to get you to pay.

I hear there are other lenders out there, how can I learn about them?

As much as we would love your business, we understand you may want to explore options elsewhere before deciding if True Financial is right for you. We have a list here find the best title lending companies, where we have a list of other lenders that we recommend and are worth checking out.

Is a car title loan different to a title pawn

Yes its a different product entirely however some lenders provide both. See more here.

Can I keep driving my car?

Yes you can keep your car, keep enjoying it and keep driving it!

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