Car Title Lending For Beginners
March 18, 2022 | Daniel Dewitt
Did you know that car title lending can help you get cash for emergency expenses? These short-term loans from us at New Mexico Title Loans, Inc. use your vehicle’s lien-free title as collateral and are simple to qualify for. If you are looking for a valid way to help you pay off your emergency expenses, look into our car title loans through this simple guide.
What Is Car Title Lending?
Car title lending allows you to use your vehicle’s lien-free title as collateral for a lump sum of cash. This means if you are finished paying off your vehicle and your title is in your name, you may qualify to use it as collateral for money that can really help you handle any emergency expenses that were thrown your way.
When you apply for a fast car title loan with New Mexico Title Loans, Inc., you are eligible to receive up to $10,000 in emergency cash. This cash can then be used to help with things like medical bills, emergency travel, or to fix damage to your home due to a storm or natural disaster. The amount you could get depends on the value of your vehicle plus its condition.
This means when you meet with one of our representatives, we will inspect your vehicle to determine how much you could get. Since the amount of your car title loan is not based on your credit, you do not need to worry about a low credit score disqualifying you. We here at New Mexico Title Loans, Inc. welcome people with good, bad, or sometimes no credit.
Required Items For A Car Title Loan
When it comes to our required items, we here at New Mexico Title Loans, Inc. make sure that the list is short so you can easily remember what you need to get through our process. In fact, there are just a handful of things that you need for car title lending that includes the following:
- You need your driver’s license or a valid state-issued photo ID. You need to be able to prove your identity and need to prove that you are at least 18 years old or older in order to apply.
- You need the lien-free title to your vehicle that is in your name. If the title is not in your name, you have to go to the DMV and get it switched to your name.
- You need the vehicle that you are using to take out a loan. A loan representative from New Mexico Title Loans, Inc. will have to inspect the vehicle to determine the value of the loan.
How Getting A Title Loan Works
To get started with our car title lending process, you can call your nearest New Mexico Title Loans, Inc. location or you can fill out the easy online inquiry form found on our website. This will collect your basic information and send it to your nearest New Mexico Title Loans, Inc. location so we can get in contact with you.
Once you submit this form, you will soon get a phone call from a title loan representative from the nearest New Mexico title loan location. They will confirm all of the information that you sent them and make sure you have all the items that you need to apply. The representative will also help you schedule your appointment to finish your loan application in person.
The appointment can either be at the nearest New Mexico Title Loans, Inc. store, or you can have our representative come meet you at a different location. Either way, when you arrive for your appointment, the loan representative will perform a quick inspection of your vehicle to determine the condition that it is in and establish how much you may qualify for.
They will also assess your information and vehicle title to decide if you qualify for approval. If you do, they will go over our loan terms and help you through the paperwork. Once the loan representative has answered your remaining questions and you have submitted your paperwork, you can get the money either on the same day or the next bank business day.
One thing to note about car title lending with us at New Mexico Title Loans, Inc. is that you do not need to worry about your car. We will not keep your car while you are repaying the loan since you are using the vehicle’s title as collateral and not the vehicle itself. You get to keep your vehicle while you are paying off your loan.
Get Your Emergencies Handled With Car Title Loans
When you are facing emergency expenses you cannot handle alone, you can get a car title loan to help you out. And with this handy guide at your disposal, it is easy to see that our car title lending process is simple! Just give us a call or get on our website and fill out the online form now to get started.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.