Best Online Auto Title Loan Companies of 2018

We’ve scoured the web to find the 20 best title loan companies online that will help you get the fast cash you need when you’re in a bind.

To identify the top online title loan companies, we spent several hours:

    • Researching hundreds of online and brick and mortar title loan lenders, along with online referral networks to ensure you have a wealth of options to choose from
    • Analyzing customer and industry reviews to gauge overall reputability of the various lenders and referral networks
    • Narrowing down options based on reputation, qualification criteria, loan costs, and the average time to funding
    • Identifying the best alternatives for consumers who reside in states that don’t allow title loans

Who Are The Best Title Loan Lenders of 2018?

Below is a list of the top 20 auto title loan lenders that you can find online. We’ve included both in case you prefer to streamline the process of shopping around by submitting your information in one place and being matched with the best option for you.

Feel free to take a look at what users are saying. Also, use the links below to do your own research and explore what each car title loan lender or referral network has to offer.

When exploring the options on our list, keep in mind that title loan laws vary by state, and some states do not allow them at all. For this reason, we’ve also included a few alternative loan options that do not require that your car is used as collateral.


#1. TMG Loan Processing

  • Top rated: 9.8/10
  • Loan terms: 1 to 36 Months
  • Loan Amounts: Up to $50,000
  • Website:
  • Phone #:  1-833-600-0635

Rated as the top title loan processor by Consumer Affairs for two consecutive years, Tradition Media Group (TMG) is a title loan marketplace that connects consumers with direct lenders free of charge. Even if you have less than perfect credit, you may still qualify for a loan since the amount of equity you have in your vehicle will determine how you much you may qualify for.

Auto title loan amounts are as high as $50,000, and you have the option to apply online or via phone at 1-833-600-0635. If you choose to apply by phone, representatives are standing by 24/7 to assist with the processing of your application.

Once your application is submitted, you will be presented with the best loan offer from TMG’s network of lenders. There’s no obligation to accept the offer. And you won’t be assessed any fees for the search if you decide to move forward.

Upon acceptance and final approval of the loan application by the lender, you will receive the loan proceeds within one business day. However, you may qualify for same-day funding if you’re a well-qualified borrower. If you decide to pay off the loan before the repayment period ends, you will not be assessed early repayment fees and penalties.


#2. MaxCash Title Loans

Accredited by Consumer Affairs, MaxCash is ranked as the top title loans referral service in the U.S.. To date, they’ve served over 350,000 consumers with past credit issues, including bankruptcy. While your vehicle doesn’t have to be paid off to qualify, a bulk of the loan should be paid as some lenders can only roll a small portion of remaining payments into the new loan.

By filling out a brief form on their website, you can retrieve a quote from a lender in the network that will best suit your needs. You’ll need to provide basic contact information, along with a few key details about your car as it plays an integral role in the amount you may qualify for. There is also no credit check required. If you prefer to speak with a representative, they are also open seven days a week from 6 am until 9 pm to assist you with your loan application.

Should you choose to accept the offer, you’ll work directly with the lender to transmit any required documentation and complete the loan paperwork. Be prepared to provide a copy of your id, a lien-free title to your vehicle, pictures of your car, an insurance card and proof of your Social Security number.

Same day and one-business day funding options are available, and there are no prepayment penalties.


#3. Finova Financial

Finova Financial is revolutionizing the FinTech industry with their Consumer Loan on Car (C LOC) offering. It allows borrowers to save up to 50 percent of the national average in costs. Loan amounts vary by your vehicle, and the APR caps out at 30 percent. Even better, it’s okay if you have bad credit, you’ll still be able to qualify, but the vehicle must have a lien-free title.

You can get pre approved by completing the fast online form or calling 1 (844) 576-0862. If you’re a good fit, you will be prompted to login and complete your application. The amount you qualify for will be based on how much your vehicle’s worth and your monthly income. The latter is an indicator of how much you can afford to pay each month.

Once you submit the requested documentation and your application is processed, you can receive funding in as little as one business day. In some instances, you may qualify for same day funding, and you don’t have to visit a physical location to retrieve your funds.

The standard repayment period on C LOCs are 12 months, but it varies by market and you could qualify for an extended term. And should you decide to repay the loan early, there are no prepayment penalties.

They currently serve customers in Arizona, California, Florida, New Mexico, South Carolina and Tennessee.


#4. Car Title Loans 123

Specializing in connecting consumers with direct lenders, CarTitleLoans123 makes it simple to get fast access to cash when you’re in a financial crunch. If your car is paid off and you have a verifiable, steady source of income, you may be able to take out a loan between $1,000 and $50,000. The loan amount will depend on your state of residence and ability to repay.

And if you have less than perfect credit, chances are you’ll still qualify as long as your income checks out and your car has a lien-free title. However, having an open bankruptcy could prevent you from accessing a loan.

To get started, complete the online form. You’ll need to enter your name, city, state, zip code, monthly income and answer a few key details about your vehicle. CarTitleLoans123 will analyze your information and provide you with a free quote from one of the direct lenders in their network. You should also know that they have geolocation technology that allows them to match you with a lender that’s near your area of residence.

If your application is approved, you’ll work with the lender to submit any requested documentation. The entire process should not exceed 30 minutes and can be completed online fast. And when the loan application is completely processed, you’ll have access to funds within 24 hours. Loan terms vary by lender, and there are no early repayment penalties.

#5. is a lender referral network that caters to consumers with bad credit. They connect consumers with lenders that provide unsecured short-term loans, so it is not necessary to use your vehicle as collateral.

You can retrieve quotes from their network of lenders by completing the online form or calling 1-800-380-2274. To qualify for a loan, you’ll need an after-tax monthly income of $1,000 or more, a valid checking account, home and work phone number and an email address.

You should also know that will not run your credit, but the lender you select may pull a copy of your report and score when processing your application. This is done to verify the information provided in your application and may not necessarily disqualify you from getting a loan. However, being a part of active bankruptcy proceedings could prevent you from taking out a loan with one of their lenders.

If you’re pre approved for a loan, one of the lenders in the network will reach out to you by phone or email. At that point, you have the option to approve or deny the loan offer at no cost to you.

Once your loan application has been processed, most lenders will deposit the funds into your bank account within one business day.

#6. 745 Cash

745-Cash makes it easy to get the cash you need by using your car as collateral and is completely online. If you do not have a vehicle, a motorcycle, ATV, boat, RV, mobile home or camper will suffice. You may be able to borrow anywhere from $100 to $25,000 if you have ownership of a vehicle or motorcycle with a lien-free title.

Loan proceeds can only be retrieved from a physical location, but you can completely apply online for a car title loan or by calling 901-745-2274. If you wish to apply online, select the store nearest to you from their website. You’ll then be prompted to their landing page to submit a loan request. No faxing is necessary.

To process your application online, 745 cash will need a copy of your driver’s license, proof of SSN, a bank statement, a document to verify your address, and your title. You will also need to provide a copy of your last pay stub to show proof of income.

Repayment terms vary by lender, but the loan will be payable every 30 days. You’ll only be responsible for paying the interest in the first two months, then the amount will increase by 5 percent to cover the principal. If you wish to make higher payments to pay the loan off early, you will not be charged a prepayment penalty.

745-Cash currently serves customers in Memphis, Tennessee.

#7. Loan Center Title Loans

Loan Center is a direct lender that offers car title loans ranging from $2,000 to $50,000. Interest rates are between 35.50 and 199.99 percent. The rate you receive will depend on the loan term and vehicle, along with your credit rating and state of residence. The lower the amount owed on the vehicle, the better since the equity plays a major role in how much you may qualify for.

You can apply in just a few minutes by completing the form on the website. When the lender is in receipt of your application, a loan officer will reach out to discuss your eligibility. You also have the option to apply via phone by calling (866) 553-3840.

If approved, all you have to do is submit the requested documentation, complete loan paperwork, and the funds will be deposited into your account within one business day. There are no prepayment penalties, and the car remains in your possession until the loan is paid off.

It’s also important to note that instant title loans are only available in Arizona, California, Georgia, Idaho, Missouri, New Mexico, South Carolina, and Utah.

#8. American Auto Title Loan

American Auto Title Loan is a small, private direct lender that serves customers in North Carolina and South Carolina. If you have a lien-free title and steady source of income, you may qualify for a loan ranging from $601 to $10,000. Since your vehicle will be used as collateral, no credit check is required.

It only takes a few seconds to request a free quote online, and you’ll receive a response in one minute or less. Or you can call 1-844-834-5626 or visit a branch to get started.

But before applying, be prepared to provide a clear title, a copy of your photo id, insurance, registration, proof of income and a recent utility bill. You’ll need to submit this documentation to finalize the loan offer. Plus, it helps the lender gauge a realistic loan amount with payments you can actually afford.

If you decide to move forward with the loan offer, you’ll need to take your vehicle to a location to get appraised. Also, be sure to bring the documentation listed above to complete your loan application requirements. Upon approval, you’ll receive your cash in as little as one hour.

Loan repayment terms vary by customer, and the loan officer will work with you to come up with a payment plan that works for your financial situation and budget. There are no prepayment penalties should you decide to pay your loan off early.

#9. California Title Loans

Catering to California residents, California Title Loans is an online lender matching service that makes it easy to find a title loan online that fits your needs. Loan amounts vary by lender and are typically determined by the condition of the applicant’s vehicle, amount of equity available and employment history. Those that have vehicles with lien-free titles are encouraged to apply, even if their credit is bad. But keep in mind that past bankruptcy could prevent you from qualifying.

You can apply for a title loan by calling 213-867-4911 or submitting the online application. It takes around 15 minutes to complete the application, and you will be asked to submit a copy of your driver’s license, pink slip to finalize your loan, and proof of income.

Upon approval, loan proceeds are usually available within one business day. However, you’ll need to visit the lender’s physical location to have the car inspected before the loan can be approved and cash disbursed. The loan term and interest rate will also vary by lender and your financial situation, but there are no early payoff penalties.


If your vehicle is paid off or close to being paid off, you may qualify for a loan from 1-800-Car-Title. They’ve been in business since 2001 and can help you get the fast cash you need, even if your car loan hasn’t been paid in full.

1(800)Car-Title currently serves customers in Arizona, California, Georgia, Missouri, New Mexico, South Carolina, Georgia, Missouri, New Mexico, South Carolina, Utah, and Idaho. Loan amounts vary by state but range from $2,000 to $3,010.

To qualify, you’ll need to have a steady source of income and a vehicle that meets the minimum value requirements. Call 1-800-227-8485 or submit the online title loan application to get your free quote. If you’re approved, you’ll need to visit a physical location to submit your documents or you can mail them in. Once your loan is approved, you’ll receive your cash right away.

Even better, they report payment activity to the credit bureaus, so managing your loan responsibly and making timely payments could improve your credit score. Repayment periods are flexible and there are no prepayment penalties should you decide to pay off the loan early. Plus, paying in full before the payment term ends will save you a bundle in interest.

11. Champion Title Loans

Champion Title Loans is a lead generation website that helps connects borrowers to lenders in their network to get the cash they need when in a financial bind. They also offer loans that are brokered by TMG Loan Processor as they are not a direct lender.

It only takes a minute or less to receive a quote completely online. Even better, good credit is not required to be approved as the equity in your vehicle and the ability to make timely loan payments are the primary factors considered when processing your application.

You can apply by sending a request online or calling 855-251-4006. If your application is approved and you decide to move forward with the loan, you should expect to receive your funds within one business day. Repayment periods span between 12 and 36 months and there is no early prepayment penalty. No store visit is required.

12. North Eastern Title Loan

Operating in 20 states, North Eastern Title Loans offers instant title loans same day. Simply bring your lien-free vehicle title and a copy of your photo id to one of their locations and you can walk away with the cash you need within 20 minutes. You can also get started by calling 1-877-511-2274 or requesting a quote online. But you’ll need to visit one of their offices to finalize the loan and retrieve your cash.

Loan amounts of up to $10,000 are available, but the amount you qualify for will depend on your ability to repay the loan and the equity in your vehicle. (Quick note: the loan limit in some states is lower than $10,000).

13. Turbo Title Loan

This online car title loan lender offers same day title loans to consumers, regardless of credit history. However, will perform a credit check to confirm that you are not currently involved in bankruptcy proceedings.

Loan amounts vary by state, and rates range from 18 to 35.99 percent. To qualify, but your vehicle must have a wholesale value of at least $2,500 and not be older than 15 years of age.

You can inquire about a loan by completing the form online or calling 1-800-513-7960. If you are approved, you could receive the proceeds in as little as a few hours. You’ll be given between 12 and 48 months to repay the loan, and there are no early repayment penalties.

14. Today’s Financial Services

Today’s Financial Services is a direct lender specializing in auto title loan solutions in Florida. The loan amount will be determined by the value of your vehicle, and you could receive your cash in as little as 25 minutes via direct deposit or check.

To qualify for a loan, you must have a verifiable source of income and a vehicle that’s no more than 10 years old with under 170,000 miles. You can apply by submitting the online form or calling 1-888-573-0132.

Loans can be paid over a 12-month period, and you will not be charged a prepayment penalty if you pay your loan in full before the term ends. Interest will also be prorated should you exercise this option.

15. Ace Cash Express Loans

Ace Cash Express offers title loans ranging from $100 to $5,000, depending on your state of residence. To qualify, you must have a steady source of income, a vehicle title that’s clear and free of any liens, and not currently be involved in bankruptcy proceedings.

You can apply by visiting an Ace Cash Express store. Upon approval, you will receive your cash on the spot. Repayment periods vary by loan amounts and location, and there are no early payoff penalties. Another perk is the 72-hour satisfaction guarantee that’s available should you decide an auto title loan from Ace Cash Express isn’t right for you.

They currently serve customers in Arizona, Louisiana, New Mexico, Ohio, Oregon, Tennessee, and Texas.

16. QuickCashFunding

Serving customers in the state of California, QuickCashFunding is a direct lender specializing in auto title loans. Depending on the value of your vehicle, you may qualify for a loan between $2,600 and $50,000. However, your vehicle must have a wholesale value of $5,000 or more to be considered for a loan.

Most loan approvals take no more than 30 minutes, and you don’t need perfect credit to qualify. And unlike most title loan lenders, Quick Cash Funding does not mandate that your car is paid in full. Simply complete the application online, download a PDF version and fax it to one of their offices, or call 1-866-843-CASH or stop by to get the process started.

Once you receive the loan proceeds, your first loan payment will be due in 30 days. Repayment periods vary by the borrower, but there are no early repayment fees.

17. BSL Financial

Established in 1999, BSL Financial prides itself on connecting consumers residing in California to licensed brokers to meet their title loan needs. BSL Financial offers loans from $2,525 to $25,000, and the amount you qualify for will depend on the income at your disposal to repay, along with the value of the car and the outstanding balance (if applicable).

To qualify, your vehicle must have at least $1,500 in equity, be registered in California, and not have a salvage title. Your monthly income must also be over $1,000, and you cannot be involved in any open bankruptcy proceedings. A credit check is also required, but it won’t necessarily prevent you from taking out a title loan.

You can apply by submitting the online form, visiting a location, or calling 1-888-711-0272. Upon completing your application, you may have access to funds in as little as one hour. All you have to do is visit one of their locations to provide the requested documentation or they will send a representative to you.

18. Loan4Title

Loan4Title Car makes it easy to get short-term cash. All you have to do is complete the online application or call 800-935-2718 to determine if you qualify. As long as you have a steady source of income, a lien-free title, and aren’t currently involved in bankruptcy proceedings, you should be all set.

You’ll need a California Pink Slip (or car title), photo id, proof of address, and proof of income to apply. Loan amounts range from $2,500 to $20,000, and you can get pre-approved by filling out the online form or calling 1-800-935-2718.

If you pass the initial screening, you’ll receive a pre-approval on the spot. The next step is to meet with a loan officer, either in the office or at the location, of your choice to finalize the loan documents. This should only take about 15 minutes of your time.

Once that’s done, you’ll get a Bank of America to check in hand. Repayment terms will vary by loan and you’ll need to remit monthly payments by check.


Although they do not offer title loans, LendToYou is a loan connecting service that gives you the option to secure a small installment loan for under $5,000 without using your vehicle as collateral. To qualify, you’ll need to provide proof of income of at least $1,000 per month and have a checking or savings account with direct deposit.

Your income serves as your security for repaying the loan, and the payment schedule will depend on the loan term and amount. A credit check may be required by the lender to confirm the information in your application.

Loans are typically funded in as little as one business day.

20. LoanAutoTitle allows you to borrow between $2,500 and $50,000, depending on the equity in your vehicle. They also evaluate your income during the application process to assess your ability to repay the loan.

Even if you don’t have perfect credit, you can still be approved for an auto title loan since it will be secured by the value of your ride. When you submit the pre-qualification form online or call 877-373-1022, you’ll generally receive a response fast within 15 minutes.

In most instances, you’ll receive the funds in your bank account the next day as they are transferred electronically. And to receive the funds even sooner, you have the option to register the lender as a lien holder.

For more lender comparisons visit Top Loan Companies.

Pros and Cons of Auto Title Loans

Try as you might to save for the future, you might often feel like you’re always one step behind all those unexpected expenses that keep cropping up.

Without the cash on hand to take care of life’s unexpected surprises, you might need to turn elsewhere for the money. So, should you get an auto title loan?

These loans help people to use a car they already own as collateral to get the necessary funds and to get their life back on track. Here are some of the pros and cons of title loans that you should consider before taking one out.


#1: Anyone Can Qualify

All it takes to qualify for an auto title loan is to own your car. Most auto title loan companies don’t even run a credit check. This allows you to get the cash that you need in a tricky situation by using your car as collateral, even if your other borrowing options are dismal.

#2: It Gives You Cash Quickly

No need to waste time waiting several days or even weeks to be approved – with a car title loan, you can get the cash that you need very quickly. In most cases, the money will be deposited in your bank account in around 24 hours. This is all because the application and approval process for auto title loans is very simple and fast, leaving nothing to delay you getting that cash in hand.

#3: You Keep Your Car

Even though you’re using a car title as collateral, you can still drive away in it after you’ve gotten your cash. That’s right – even though you have handed over your title while you are paying back the amount that you have borrowed on your loan, you will get to keep driving your car.


#1: Limited Loan Amount

The amount of money that you can apply for through an auto title loan is based on the value of your vehicle. While you might be eligible for an auto title loan, if you drive an older or run-down model, then you might not be able to get as much cash as you were hoping for. While this varies from lender to lender, it’s common to cap the loan amount at 50% of your car’s value.

#2: You Might Need to Up Your Insurance Game

While you get to keep driving your car even though the title is in your lender’s hands, you might still be asked to buy extra insurance on the vehicle if the current policy you hold doesn’t comply with the lender’s standards. As you don’t technically own the car anymore until your loan is paid off, it is natural for your lender to want to make sure the car is adequately covered.

However, depending on how much more money this will cost you out of pocket every month, you might be better off using that money elsewhere instead of getting the loan in the first place.

#3: Extremely High Fees and Interest Rates

These types of loans tend to come with high fees and interest rates as the trade-off for being a quick, short-term loan. Depending on where you are living and the lender that you choose, you might end up paying as much in interest and fees as you would by taking out a payday loan! However, if you do your research and shop around a little bit, you’ll be able to find the best interest rate in your area.

Before you sign away your auto title, make sure that you’ve done your research on the lender and that you understand all the loan terms. Keep in mind that there are several federal laws in place that mandate that these companies must fully disclose any and all rates, fees, and issues, so you don’t run into any unpleasant surprises down the road.

#4: You Might Lose Your Car

If you don’t get the money you need to pay back the loan and end up defaulting on it, the lender has the right to repossess your vehicle. Because your auto title loan won’t be worth the full value of your car, the lender will be able to get much more value from selling your vehicle than they would have you paid the loan back in full. In short, you will be losing a lot more money than you borrowed if this happens.

It’s easy to brush this risk aside, thinking that you’ll stay current on your loan. However, unexpected things come up in life – which is likely how you ended up considering an auto title loan in the first place. It’s important to keep this possibility in mind and don’t ignore the consequences that could come with an auto title loan if you don’t pay it back in the allotted repayment period.

#5: Repossession Might Only Be the Beginning

You might be thinking that the worst you could lose here is your vehicle. However, if you default on your loan and the lender doesn’t manage to get enough from your car sale to pay off the balance, you’ll still be liable for the difference. This doesn’t happen very often because the loan value tends to be lower than the value of the car, but it can happen if an estimate wasn’t done correctly.

The Verdict

As you can see, there are a lot of things to consider when it comes to deciding whether or not an auto title loan is right for you. Are title loans bad? Absolutely not! Title loans are a great way to get money on the short term when you really need it, and the benefits of title loans are excellent! However, it’s important to make sure that you have a plan to pay them back during the allotted time period to avoid some pretty steep consequences!

Avoiding those consequences, however, isn’t only about making sure you can pay the loan back (although that is a big part of it). It also has to do with choosing a good lender. To find the best title loan lenders around, see our top list of companies!

10 Tips To Find the Best Online Title Loans

Are you looking for the best online title loans? If yes, then, you never have to worry because several online lending companies offer title loans nowadays. Title loans are short-term secured loans where assets are required as collaterals. At some point, you may be spending long hours searching for an online title loan provider. To avoid wasting too much time, here are ten tips you may use to find the best online title loans quickly.

Make Sure That The Online Lender You Choose Is Licensed

License, for instance, is important for any online title loan lenders to operate. If they do not have such license, they could not extend title loan offers to anybody. That’s simple. However, what’s relevant here is that you won’t be able to apply for a title loan if your lender does not have the authority to do so in your State.

  • Yes, That’s true. Although you can see a lot of lenders online, the problem is not all of them are licensed and registered to extend their title loans in your location. Besides, this is for your own good at all.
  • To prevent any inconvenience from your end, check first if you are eligible enough to submit a title loan application to your chosen lender.

Familiarize How Your Lender Works and Processes An Application Before You Apply

Time is of essence especially when you’re up into something. When you are in a hurry to get a title loan for yourself, you have to consider this step. Consider how they process the application.

  • “Do they prefer an online application or not?” and “Is there a need for a phone verification and visual inspection of the vehicle?” are just two of the common questions you can ask your lender.
  • Most companies process applications faster than usual. Some may only take 20 minutes to verify information. On top of these, you’d know what to expect from your lender when your application has already been filed.

Ask How Long It Takes Before You Can Get Your Money

If you urgently need cash, you better ask your lender about it. Don’t presume anything. In cases like these, online title loans only take a few minutes or more before getting approved. This is not true for all lending companies especially when they do not have a physical branch in your location. Quite difficult, right? However, you have nothing to do about it. All you can do is make sure to know how long it will take you to get your money.

Know What Types Of Vehicles They Accept Before Applying

Does your chosen lender accept the vehicle that you possess? Well, it depends. Before going over with your applications, it’s just practical if you ask your lender what types of vehicles they accept for a title loan.

  • As you know, not all lending companies have the same requirements for accepting vehicles as collaterals. Some only take cars that are newer than 2000. Others also allow older models that are from 1995 or sooner.
  • Your car’s mileage can also be an issue. So, you better take the first move to inquire from your lender anything about their mileage restrictions. If everything about your car is set including its clean title and other documents, then, you’ll be going to be on the right track.

Ask If You Can Keep Driving Your Car

Normally, vehicles placed as collateral for a title loan remain in possession of the borrower. This is not always the case here. There are car equity lenders who require the confiscation of your car throughout your loan period. Doesn’t sound good, right?

  • Well, there’s nothing you can do about that if that’s part of their terms and conditions. On the other side, some would not impound your car, but the least that they’ll do is to put a tracking device. In this case, you can still keep your car with you while paying off your monthly repayments.

Know How Much You Can Get From Your Title Loan

When you are in need of cash, you’ll surely want to make the most out of it. It’s the same with online title loans. Car equity lenders do not have the same calculation procedures.

  • However, what’s common here is that the current value of your car is the basis of your title loan. So if you have an older model of vehicle, then, most probably you’ll take a lesser amount of title loan.

Determine What Payment Terms They Cater

In every application you do, you’ll always ask for the payment terms. Besides, this is part of how you manage your finances, right? The reason why you’re asking about the availability of payment tenure is to know how long it will take before you can have the full payment of your loan.

If you have that kind of mindset, you’d to overcome the burden of paying it every month. What’s advantageous about longer payment schedules is the lesser amount you’re going to pay monthly. But, here’s the downside. You’re also going to pay more interests each month on top of your loan.

Inquire How Much You’re Going To Pay Monthly

It’s good when you ask about your possible monthly amortizations. It’s one way for you to test the waters. Some title loan lenders impose higher rates and fees. For that reason alone, it’s still best if you look for a lending company with affordable interest rates. After all, it’s you who’ll pay it monthly.

Be Sure If The Lender Charge A Pre-Payment Penalty

Since your interests start running once you get your loan, it’s always better to pay credit before it falls due. But you can only do this without pre-payment penalties.

Pre-payment penalties add up to your financial burden. If your selected lender does not charge you with pre-payment penalty, then, that’s good for you. However, you still need to check and verify if your lender accommodates pre-payment charges.

Ask What Will Happen When There’s Default

Usually, when you default on your title loans, repossession of your car as collateral will follow. But, not all lending companies share the same procedures in repossessing your vehicle.

Some would give a reasonable length of time before you hand over your asset. Some would also provide you with notices about your default payments. Whatever the conditions are, don’t get to that point that you’ll probably lose your car. Choose a considerate car equity lender who knows what would be best for you.


When you’re in search of the best title loans, don’t hesitate to use the above key tips. Since title loans are regarded as risky loans, the prerogative is still yours on how you find a title loan that perfectly suits your financial circumstances.

Do Title Loans Affect Credit Ratings?

Are you looking for affordable title loans these days? Well, there are many title loans providers you can rely on both locally and online. Yes, you get it right! Title loans are easy to apply nowadays. You just have to search for a credible title loans company, ready your car’s title and comply all their loan requirements. From there, you will surely have a good start when applying for a title loan. But, like other forms of investments, do title loans affect credit ratings? Then, let’s check these out!

Do title loans effect credit scores


What Is A Title Loan?

A title loan is considered a short-term loan payable for a shorter period of time. If you are interested in applying, all you need to do is put your car up as collateral to secure the loan and get approved.

  • These title loans work in such a way that lenders would place a lien against the title of your vehicle until payment is made in full.
  • The loan amount you’ll get after your approval is based on the current value of your vehicle at the moment you apply for it.

So, the process is just simple. You offer your car title as a guarantee, and you’ll have your money once approved. Sounds good, right?

What Are The Requirements Needed To Apply For A Title Loan?

When you are submitting a loan application, you can notice that there are many loan requirements to fulfill. These things may appear burdensome especially when you don’t have these ready ahead of time. But, with title loans, such requirements are considered immaterial.

  • This is so interesting as you just have to prepare the necessary requirements such as identification cards, proof of source of income, your residence address, contact information and of course, your car title.
  • If these documents are already well-prepared, then, you are good to go to receive your title loan as fast as you can least expect. Well, you can even choose the kind of vehicles you want to use to get a title loan as quickly as possible.


What Are The Effects Of Getting A Title Loan To Your Credit Ratings?

This is the most crucial part when dealing with loan applications. If you apply for a loan, the first thing that comes to mind is your credit ratings. Questions like, “How would my loan affect my credit score?” or “If I am unable to pay my loan, do title loans have a negative impact on my credit score?” Well, these are just two of so many questions you’ll most likely ask when you apply for a loan. But, here’s the catch now: Title loans are regarded as secured loans.

  • For that reason alone, you’ll be assured that you can pay your loan no matter what. When worst cases happen as you will be in default in paying your monthly amortizations, then, bear the consequence of having your car forfeited in favor of the lender in exchange for your title loan.

From there, you will be left with no choice but to say goodbye to your car. This would be the worst nightmare for you.

  1. The Effect of High-Interest Rates For Title Loans: For title loans to apply, it is compulsory for you to own a car as it will be used to guarantee your payment once default may happen. This process sounds easy, right? But, you may be missing the point here. After taking out your title loan, you’ll have an instant money, and everything about it feels good.
  • You are most likely unaware that the problem may start three to six months after making your monthly repayments. As they are short-term loans, they also carry high-interest rates when availed.
  • Because of that and those unforeseen circumstances, you’ll be possibly unable to pay your loan as expected from you monthly. If this case happens to you, then, you’ll start thinking about your credit standing.
  1. The Impact of Car Title Loans to Credit Ratings: Well, a credit standing is essential to a better and healthy financial life. In fact, thirty-five percent of your credit score is about your payment history. Such thirty-five percent is your so-called credit utilization. You’ll be wondering how the payment history impacts your credit score.

The answer is also easy. The higher your credit utilization is, the smaller your credit score is. Not only that, getting a loan may have a significant effect on your credit score percentage. This is mainly making sense as secured loans like car title loans may also have the potential of positively or negatively affecting your credit score. Nevertheless, an effect to your credit score is not always true with title loans. Yes, you get it right!

  • Unlike other types of loans, title loans work differently in some financial aspects. When you avail yourself of a title loan, you are not also leaving your credit ratings a lasting effect. Do you want to know how? Then, let’s take a look at these.
  • The process of applying a title loan is not the same with other personal loans. While some personal loans require thorough credit checks, title loans do not need these credit inquiries at all. It is because your credit ratings do not really matter since you borrow money and hand over your car’s title as collateral.
  • Here, you are using your car as your line of credit. As a result, your loan amount is not put as debt in your credit score because whether you fail in your payments or not; the lender has nothing to lose at all.

Usually, when you have a good payment history, your credit score raises to a reasonable value. A car title loan when paid has nothing much to contribute to your credit standing. There may be a little but not that much.

  1. The Possibility of Losing Your Asset: If you have plans to get a title loan, then, you have nothing to worry about your credit score. However, here comes now the potential risk.
  • Although such loans do not have substantial detrimental effects on your ratings, the possibility of losing your car in default is also apparent. That is why you are still required to take necessary precautions when applying for car title loans. Do not wait for the time when you’ll be out of control with your finances.
  • Take time to plan well your financial goals and ensure on-time payment as much as possible. By doing so, you’ll get rid of the likelihood of having your car sacrificed due to your negligence.


If you are sure of availing yourself of a title loan, consider the credibility of your loan provider. After all, it is your financial health that would benefit or suffer from your decisions. Hence, make financial choices wisely.

How to Get a Title Loan With No Job or Income

Were you recently laid off by your employer and haven’t yet found a new position? Or have you been searching for months and the unemployment benefits have stopped? Either way, you may find yourself in a financial bind and in need of fast cash.

If you’ve tried to seek funding from brick and mortar banks and credit unions, they probably denied your application.

Fortunately, you may be able to qualify for an auto title loan online without a job or source of income.

Finding a Title Loan Lender With No Job or Income

No job or income? No problem. You can still get approved for a title loan through some lenders. To get started with the application process, you’ll need:

  • The original title to your vehicle. It must be free of any liens or you will not qualify for a loan. The title will serve as collateral for the loan. And if you are unable to pay it off, the lender will be able to cut their losses.
  • Government-issued photo identification. Regardless of the lender, you will need to provide a valid form of photo id to establish your identity.

The next step is completing the application and submitting it to the lender for review.

But before they can issue a loan decision, the lender will need to appraise your vehicle to determine how much it’s worth. This is also the figure the lender will use to decide how much they’re willing to lend you. (Remember: the lender won’t have concrete proof of your cash on hand, so this is an integral step in the loan review process).

Upon approval, you’ll be on your way with the cash you need to cover those unexpected expenses or financial emergencies.

How No Job or Income Title Loans Differ From Personal Loans

There are several key differences between personal loans and no job or income title loans you should keep in mind when researching your options:

  • No credit check: Because no job or income title loans are secured by your vehicle, the lender is not concerned with creditworthiness. If you’re a credit risk, their losses will be limited by repossessing and selling your vehicle. But traditional lenders have no choice but to rely on your creditworthiness. This helps determine if you’re a good risk and the likelihood you’ll default on the loan.
  • No income verification: Most traditional lenders also analyze your income to determine if you can afford to repay the loan. But income is irrelevant to this type of title loan as the lender is only concerned with the collateral.
  • Cosigner not required: In most instances, traditional lenders will require you to have a cosigner to guarantee the loan before approving your application. “Having a co-signer on your loan gives your lender additional assurance that the loan will be repaid,” notes the Consumer Financial Protection Bureau (CFPB). But with a no job or income title loan, a cosigner isn’t required.
  • Higher interest rates: Unfortunately, no job or income title loans come with higher interest rates. According to, the rates can go well into three-digits. Reasoning: these loans cater to the subprime market and are more risky for lenders than unsecured loans offered by traditional lenders to those who are good credit risks.

How Long Does It Take to Apply?

Loan application review times vary by lender. But it shouldn’t take more than a few hours to get approved and have immediate access to the cash you need.

How Much Can Money Can You Get?

It varies by the lender as each has their own loan minimums and limits. “On average, these loans are for $100 to $5,500. But they can be for $10,000 or more from some lenders,” notes

How Long Does It Take to Pay Off a Loan?

The repayment period depends on the amount of the loan. In most instances, it will span between 15 and 30 days. But some lenders will give you six months or more to make payments if the loan is for a larger amount.

Are No Job or Income Title Loans Good or Bad?

There has been much debate regarding if no job or income title loans are a worthwhile option to retrieve cash. As with most no credit check loans, interest rates are exorbitant.

This makes payments much higher and could end up costing you a fortune over time. Even worse, your finances can take a tumble if you’re forced to keep rolling the loan over month after month. (Rollovers equate to more interest and fees).

So, be sure to read the fine print before applying so you’ll understand exactly what you’re getting yourself into.

Most importantly, doing your homework could help you dodge a bullet and search for better options elsewhere. Plus, you won’t have to worry about getting your car repossessed if you default on the loan.


What Happens when you Default on an Auto Title Loan?

When you have your finances on the low, auto title loans are usually the primary recourse of many. Why is that so? Well, this is primarily because auto title loans are regarded as short-term secured loans which approval would only take a couple of minutes. Yes, you get it right!

These loans have higher approval rates because all you have to do is put your car as collateral and in case you fail to pay, you’ll need to surrender your vehicle to your lender. These are the typical situations when you’re dealing with auto title loans applications. However, what is risky here is when you default on your auto title loan. So, what really happens when you fail to pay your credit? Let’s check these out:

damaging effect of defaulting on an auto title loan

Repossession of Your Car

Applying for a title loan may appear very easy and beneficial for emergency cases. However, you may be wrong all along. In dealing with auto title loans, high-interest rates are also coming your way.

  • Due to its simplified application process, lenders would approve your loan if you have a valid title in your hands. It is tempting, right? You get an instant cash as soon as you give your asset as security.
  • However, title loans do not always work like this. For some reasons, the interest rates on top of your principal loan make you gamble everything. Meaning, times may come that your monthly income could no longer compensate your debts

So, if you are too drained that you could not be able to pay your monthly payments for your auto title loan, chances are you’ll voluntarily hand over your car to your lender. When this happens, you just have to let go of your asset in exchange for your failure to remit monthly repayments.

  • Yes, it is a financial disaster that you would not suppose to encounter if you just take necessary precautions from the beginning. If the repossession of your vehicle comes, you just have to give in freely as you are bound to the terms and conditions outlined in your loan agreement.
  • What is required from you when you are already in default of your title loan is the compulsory surrender of your asset. From there, you don’t need to make payments anymore as your loan balances will now be closed.

Other Legal Actions

If you owe a lending company with title loans and you fail to make scheduled payments, then, you still have nothing serious to worry about. Once you yield your car to your lender as part of the agreement, everything will follow smoothly except the unfortunate fact that you would permanently lose one of your assets. Such loss may be so heartbreaking, right? You have nothing to do but accept it.

Due to default, you would not only be able to save your car, but you would as well get bad credits. In these distressing times, here are two of the most asked questions regarding a default on title loans:

Can You Be Imprisoned When You Default On An Auto Title Loan?

You may be asking about whether you’ll go to jail because of the non-payment of your title loans. Well, the answer is of course no.

  • For some, putting you in jail may be the worst case scenario that a lender may do especially when you show non-performance of the terms and conditions of your loan contract. It may be happening in other places but, as laid down by title loan laws, no lender can threaten you about it. Perhaps, are you even afraid of getting arrested for default? Then, you should not.
  • An arrest cannot be considered as a legal remedy for lending companies to enforce compliance with the auto title loan contracts. You could not also be subjected to harassment when facing this kind of financial dilemma. For instance, threatening you of going to prison is a violation of your rights under Fair Debt Collection Practices Act. So, know your legal rights, and you’ll surely be protected.

Will Your Cars Be Taken By Force Or Physical Threats?

Well, the answer for this is no. Cars which are also taken by force, intimidation, coercion and other violent means are also prohibited. What the lender can legally do is to take away your car within a reasonable period of time. From there, notices are also given to remind you of your financial liabilities including the timeline of the repossession of your car.

Are Repossession Of Your Asset and Other Legal Measures Worth The Risk?

Losing your car is so devastating. But, given the consequence of having your asset forfeited, the critical question is if it is still worth all your effort and time. In this case, it is not at all. You can use these auto title loans to your advantage when you are sure and confident that you can repay back your credit.

  • However, if you only earn a sufficient amount of income, then, you’ll find these loans disadvantageous at all. Not only that, your credit profile would likely suffer if you’ll go on with these without knowing the potential risks that title loans may cause your financial life.

What Are The Things To Do To Prevent Auto Title Loan Default?

When your auto title loans start to stress you up, give yourself some space to breathe and relax for a while. If you already have a title loan on your shoulder, you just need to be mindful of the steps you’ll be taking to avoid auto title loan default.

    • First, plan your monthly finances well and make sure to allocate payment of your title loan every month. Every postponement you make affects your credit line.
    • Second, do not miss any scheduled payments even only once so that you’ll not incur a hard time recuperating from the loss.
    • Third, look for other helpful options to pay off title loans as fast as you can. It may be through debt consolidation or refinancing. Besides, what should be presented here is the accumulation of penalties on top of your interests when you delay your payments. Having these things done may guarantee your car’s safety from being repossessed by the lender.

So, if you are planning to take advantage of auto title loan as a financial way out, you better rethink your plan. Being so fascinated with how title loan applications work conveniently for you does not mean that you have to do so even though you lack financial resources. What you can do is exhaust all other means first and resort to it only when there’s no other way.

How To Save Money With An Online Title Loan

When getting an online title loan, people usually have these negative comments. Yes, that’s true. Undesirable views about falling back with an online title loan are typically around the Internet. Several car equity lenders are in fact all over the news because of these negative opinions of people regarding title loans. Issues like paying high-interest rates to repossession of assets are known to be the common reasons why borrowers are unsuccessful with their monthly repayments. But, why do people resort to getting a title loan in the first place? Well, here’s why.

Online Title Loans: An overview

For some other reasons, online title loans can also be best when emergency cases arise. Yes, you heard it right. Borrowers can usually save money when they avail themselves of such loans than just do nothing.

  • In cases like these, you’ll not think of the possible consequences if you fail to pay monthly when you have an emergency financial situation to address. You’ll try all available solutions you can get just to get rid of your financial difficulty as quickly as possible.
  • This is making a lot of sense especially when others options are no longer available for you. It can happen when you get disapproved for a bank loan due to a bad credit rating or your family and friends refuse to lend you money.

These options do not just work out that easily. How can you avail of these financial solutions when you have a low credit score?

That is why you can see the difference between not having cash at all and the alternative of asking help from car equity lenders. In this situation, you can have the preference of taking out a loan and paying it back on a monthly basis. Despite title loan’s fallbacks, here’s how to save money with it in the long run:

  1. Work In A Company That Funds Online Title Loans 

One way of saving money, in the long run, is by working in a company that funds title loans. Yes, you get it right. When you are not qualified for other financing solutions because of your low credit report, you are left with no choice but to take advantage of title loans.

  • An example of this is when you’re having repair problems in your house. Each day that passes by is also costing you a lot of money. Even though you’ll pay high financial charges and face the probability of losing your vehicle, you’ll still deal with it to get quick cash. This is how it works when you are really empty-handed. But, what’s important here is you still need to pay the lender back afterward.
  • On the bright side, you can manage your loan and save eventually when you get to work in a company that supports online title loans. Here, institutions like these do not ask for pre-payment charges. When you already receive the cash, your interest begins running, making it difficult for you to make on-time payments each month. It’s like getting more expensive as days go by.
  1. Early Payment Scheme By Car Title Loans

Although interests rates and payment schedules set by online title loans companies change over time, the fact remains that you have to pay your loan back to avoid repossession of your asset.

While several types of loans require various payment terms, short-term secured loans like online title loans will have a higher average percentage rate compared to other financial options. When you apply for it, it’s like you’re just getting cash advances.

  • What you need to understand here is you pay it off in the shortest amount of time. By doing so, you’ll avoid the continuous growth of huge finance charges over time. Unlike those traditional lending options, an online title loan does not need years before final payment can be settled.
  • This is the reason why you can’t see title loans as similar to those other personal loans. Not just that, circumstances like having a poor credit rating make it hard for you to apply for bank loans. From there, you’re going to consider online title loans as your last financial recourse.

Advantages of Online Title Loans

Nowadays, title loans are viewed by many in the negative light. However, there are still borrowers who believe that online title loans save them from a distressing financial hardship. For that reason alone, it’s safe to say that these short-term secured loans may still have something good to do with your monetary burdens.

If you’re applying for a car title loan online,  here are some of its advantages that may help you along the way:

  1. The Application Can Be Done Online 

    Now, it’s easy to get away with financial mishaps using title loans. That’s true. Applications for such loans can be conveniently made online. You just need a mobile phone or computer to get it done. There’s no need to visit a physical branch to complete the application process. You can select one of our recommended lenders here.

  1. Easy Qualification Requirements

    You never have to worry about any loan requirements. With title loans, no credit inquiries are required. You just have to submit your car’s clean title, and you’re good to go. Just make sure you’ll not have default payments so that repossession of your car can never be compulsory.

  1. The Same-Day Approval

    There’s no more waiting for this type of loan. If you need money urgently, you’ll surely be accommodated with this online title loan. Just prepare your vehicle’s documents. On top of this, loans are processed as fast as possible. Just wait for few minutes or less, and get your cash loan right away.

  1. Higher or Shorter Loan Amounts 

    With title loans, you can borrow any amount that you require. Your car’s current value determines the amount of cash you can get. The higher value your car has, the larger amount of money you can take out.

  1. Loan Cash Can Be Deposited In Your Bank Account

    There are some car equity lenders who’ll make things easier for you. The hassle-free release of cash loan can be done through direct deposits. This process ensures that you can meet any emergency financial need.


When you’re dealing with any stressful financial situation, exhaust all options first. If you have cleared your mind about using online title loans, it’s essential that you are familiar with how these loans can positively or negatively affect you. Spend time to understand the advantages and consequences of these title loans. But, if you know how to manage your loan, at the end of the day, you’ll surely have a successful credit experience.