FAQ

Question: How do car title loans work?

Car title loans let you leverage the equity of your car loan to get access to additional money.

Question: What do I need to do in order to secure an auto title loan?

There are some basic requirements for getting a title loan through Auto Title Loan Lenders or any car title lender:

  • Proof of ownership of the car’s title
  • Current DMV registration
  • A valid driver’s license
  • Full insurance
  • Proof of income
  • A recent bank statement

Question: How much can I borrow on a car loan?

Current California law sets limits on auto title loans. These loans can be made for $2,500 to $50,000. The amount of the loan will depend on several factors. In most cases, to get approved for a minimum loan, your car needs to be worth at least $3,600.

Question: Are there any pre-payment penalties?

Never! In fact, we recommend to our customers that they pay more than the required monthly payments whenever possible in order to reduce their balance and pay off their loans quicker.

Question: What if I only need a smaller amount than $2,500?

By law, our loans must be at least in that amount. However, because there is no pre-payment penalty, you can always make a bigger payment on your loan.

Question: Can I use my car while I am paying off my auto title loan?

Absolutely. One of the great advantages of using your car as collateral for an auto title loan is that you can continue to use your car while you are repaying your loan.

Question: How does the loan process work?

After you complete the online application, you’ll have an appointment with us. If all your paperwork is in order, it usually takes 30 to 60 minutes to qualify for the loan. If you don’t qualify for the loan, then you don’t pay anything.

Question: How do I get the money?

We will cut you a check that you can cash or put into your bank account.

Question: Will I need to make an appointment with the DMV in order to complete the loan?

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Question: How often do you release themes?

Auto Title Loans takes care of all of the DMV paperwork so you can avoid standing in line in order to get your cash.

Question: What are the typical terms of the loan?

Our loans can run up to 48 months. In most cases, the car needs to be paid off, although we can make exceptions to this rule based on your particular case. The interest rate you pay will vary based on a range of factors including your credit history, value of your car and your financial situation.

Question: Do I need to have a job in order to receive a loan?

You need to have some current income source in order to prove that you are capable of repaying the loan. This can be a job, disability or retirement payments. If you do not have a current source of income, a cosigner might be required to have the loan considered and approved.

Question: What type of insurance do I need on my car to qualify for a loan?

All auto title loan lenders require full coverage insurance in order to qualify a customer for a loan. This protects the lender in case you are involved in an accident during the course of your loan.

Question: I’m currently in a car loan that I don’t like. Is it possible to refinance the loan so I can get money out or get a better rate?

It’s possible to do either one or both as long as your vehicle is in good condition and your title loan was done properly by your current loan company.

Question: Can I receive a title loan if I have a job but recently declared for bankruptcy?

We can only fund a loan for you if your bankruptcy file has been discharged.