What To Know About Title Loans In Farmington, NM
If you are hit with emergency expenses, you could look into getting title loans in Farmington, NM. When getting title loans from New Mexico Title Loans, Inc., there are a few things you should know before applying. It is important to know what you need and how the process works, as well as when to get a title loan.
When To Apply For Title Loans In Farmington, NM
Before you apply for title loans in Farmington, NM, you need to know when you should use these quick auto title loans. Applying for a title loan should be left for instances in which you are dealing with an emergency and cannot handle it on your own.
This is because title loans are short-term loans meant to provide help for whatever financial emergency you find yourself in. Needless to say, they aren’t meant to be obtained just so you can splurge on frivolous items. Instances in which you might consider getting a title loan are unexpected expenses such as:
- Home and auto repairs.
- Medical bills.
- Emergency travel.
- Late rent or utility bills.
What You Need To Get Through The Process
When it comes to getting a title loan from New Mexico Title Loans, Inc., we require that you present certain items to get through our process. The first item you will need to provide is a state-issued photo ID or driver’s license to prove you are 18 years old or older.
Just like with any loan, you need to prove with photo I.D. that you are the person applying and of age to do so. In order to apply for title loans in Farmington, NM with us, you must be at least 18 years old. The name on the ID must also match that of the car title that you plan to use for the title loan, which brings us to the next document you would need to present.
To apply for a title loan at New Mexico Title Loans, Inc., it should be no surprise that you have to provide your car title to use as collateral. In order to use the title for a title loan, the title needs to be a clear and lien-free title. This means that there are no outstanding loans or judgments against the vehicle and that the ownership of the vehicle is yours.
As mentioned, if the name on your ID and the car title differ, you will not be able to apply for a title loan. You will need to contact the DMV and have the title transferred over to your name before starting the application process. If another name appears with yours, you can still apply. You just might need the other person’s approval as well.
Besides having your title and your driver’s license or state-issued ID, you must also provide access to the vehicle for inspection. Although your car title is what will be handed over as collateral for the duration of your loan agreement, we will also inspect your vehicle during your meeting.
The inspection of your vehicle is important for determining how much of a loan you qualify for. Once your vehicle is inspected, the loan representative will also assess your information to determine if you qualify for approval for the title loans in Farmington, NM.
How Do Title Loans In Farmington, NM Work?
If you have the items, you can begin the process for a title loan at any time. Just go to our website and fill out our online form. The entire process of engaging with the store representative can be done quickly. That’s what makes this loan a viable option for those looking for quick cash. Here is a fast run-down of what our loan representative will do:
- Go over and confirm you have the above-mentioned items.
- Direct you to their nearest New Mexico car title loan location with the items.
- Examine your information, along with your ID and car title to determine if you qualify.
- Perform a vehicle inspection to determine how much you could qualify for.
- Finalize the application paperwork if you do qualify for approval.
- Discuss the loan terms and how they handle loan repayment.
Make Getting A Title Loan Even More Convenient
If you are in Farmington, New Mexico, and are in need of a title loan, we here at New Mexico Title Loans, Inc. go an extra step to make our process even easier. As simple as the process above is, we make it so that a store visit is not required. When you are on the phone with us, you can give us a location and one of our loan representatives will meet you.
Once you meet, the entire process can be completed in 30 minutes. They will still inspect your vehicle and assess your information to determine how much you could get and if you qualify for approval. If you do, you can qualify for anything between $300 to $10,000 in title loans. Plus, you can get the cash either the same day or the next bank business day!
Submit Your Inquiry Today
Now that you are better informed of what to know about title loans in Farmington, NM, you can comfortably and conveniently get started on getting the money you need. Submit an online inquiry form with New Mexico Title Loans, Inc. today to get started on the simple process!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.