For those who are in need of cash, especially for a time-sensitive matter, a title loan can be a saving grace. Accessible, quick, and simple, it’s a type of loan almost anyone can qualify for, which makes it an attractive option for people in financial hardship.

So, if you’re looking for New Mexico title loan options, we definitely won’t fault you. Before running and applying for one though, you might want to learn more about how to get a car title loan. So, let’s take a deeper look at the guide.

How to Get a Car Title Loan

1. You Should Be 18 Years of Age or Older

Honestly, if you’re under 18, you probably shouldn’t even be googling how to get a car title loan. And if you are – sorry to disappoint you, but you can’t get a title loan unless you’re a legal adult. If you are, though, all you need to provide is a valid document, like a State-Issued I.D. or Driver’s License that can prove it.

2. You Should Own a Car

Here’s the most important thing to know when figuring out how to get a car title loan – you need to be a car-owner that fully owns their car.

This means that:

1. The car title in question should be in your name – you can’t use a vehicle that has your friend’s or parent’s or other person’s name on the title, even if you’ve been the de-facto owner for years now;
2. The car title should be completely lien-free – as in there can’t be any outstanding financial obligations (like loans or judgments) against it.

3. You Should Have Some Sort of Income to Pay off the Loan

One of the greatest things you’ll find out when learning how to get a car title loan is that unlike traditional bank loans, your income source doesn’t disqualify you from getting your loan. And if you live in New Mexico, then New Mexico Title Loans, Inc. can become your best friend and mentor in dealing with your financial problem.

New Mexico Title Loans, Inc. works with all kinds of incomes. As long as you have some sort of income, you’re eligible for approval. The loan representative you’ll be working with will provide more details during your meeting.

4. Don’t Worry about Your Credit Scores

Another distinctive loan feature you’ll find when learning how to get a car title loan is that unlike bank loans, your credit history won’t influence your chances with a New Mexico title loan at all! You can easily apply and get approved even if your credit score is bad or even if you don’t have a credit score at all!

5. Set Aside a Day for the Process

What truly makes a title loan a great option in case of an emergency is the swiftness of the application and approval process – which can make or break you when facing an exigent problem (say urgent medical need).

The entire process typically takes less than an hour (often as little as 30 minutes), and if approved, you’ll get the money the same day. In fact, the most time-consuming part of the deal will likely be the commute to the meeting point!

When a Title Loan Is a Good Idea

Before you ask yourself how to get a car title loan, analyze the urgency of your problem. If it runs a risk of getting worse with time, or maybe costing more to be dealt with in the future if postponed – then getting a title loan to deal with it is an absolutely justified idea.

Medical and vet bills, car problems, dental issues, urgent house repairs are all good examples of problems you should apply for a title loan for.

How Do I Apply for a New Mexico Title Loan?

So, how do title loans work in New Mexico? Applying for a New Mexico title loan doesn’t take much. You can even easily start the process online, from the comfort of your own couch.

Go to the Main Page of out website and fill out the online form. When the online form reaches one of our store locations, you’ll get contacted by a loan representative who’ll confirm your information, provide you with further details about the procedure, and set up an appointment with a verification agent.

You’ll need to take the required items (your car, the lien-free car title in your name, your State-Issued ID) to the meeting so that the loan representative can assess everything and determine if you qualify for the title loan as well as how much you qualify for. If things are in order, and you’re satisfied with the amount as well as your New Mexico title loans payment plan, you’ll sign a few more papers and get your cash the very same day.

Apply for Your New Mexico Title Loan Today!

Don’t wait till your urgent issue turns into a bigger problem causing more serious issues in the future. Apply for your title loan today with New Mexico Title Loans, Inc. to get your cash in a matter of minutes!

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