Do I Need To Own My Vehicle To Get Car Title Loans In Missouri?

Missouri has few requirements for car title loans from Missouri Title Loans, Inc. when you need quick cash. However, you must understand the finer details about those few requirements to ensure your application process goes as smoothly as possible.

One key point concerns your ownership of the vehicle you use to get the loan. You must own your vehicle to get a car title loan in Missouri. That means two things. Firstly, it means that your car title must be lien-free. That means you don’t have any judgments against it and don’t owe anyone money for the vehicle.

Secondly, the car title must also be registered in your name and no one else’s. Keep reading this guide to understand how your car ownership determines whether you can qualify for a title loan. You’ll also learn about the other requirements to apply for one of these loans.

Do I Need To Own My Vehicle To Get A Car Title Loan?

You must own your car outright if you want to use it to apply for car title loans in Missouri. The car title you use to borrow money this way must be clear or ‘lien-free.’ That means it must belong only to you, without any outstanding loans or judgments against it.

Can I Qualify For A Car Title If The Title Is In Someone Else’s Name?

You can’t use someone else’s title to get car title loans in Missouri. Aside from being lien-free, your car title must also be registered to your name. Suppose that title is registered to someone else. In that case, you must visit your local DMV office to have it transferred to you. Once that process is complete, you can use the title to apply for a title loan.

man questioning vehicle title loan requirements

Must I Bring My Car When Applying For A Title Loan?

Yes, even though it’s called a ‘title loan’ and you’re using your car title to apply for it, your car is still an essential part of the process. Remember, a car title loan could get you up to $15,000, but that depends on your vehicle’s fair market value. A loan representative will take a few moments to physically inspect your vehicle and determine its fair value as part of your application process.

How Is The Value Of My Car Determined?

A representative will physically inspect your car to determine its fair value as part of the application process. They’ll calculate that value based on two factors: the condition of your car and referring to a nationally recognized pricing guide. You can get as much as $15,000 with car title loans in Missouri. However, the amount you qualify to borrow will depend on your car’s worth.

What Else Do I Need To Get A Missouri Title Loan?

Aside from your lien-free car title and the vehicle ready for inspection, you must also provide valid identification when applying for a Missouri title loan. That way, the loan representative can verify your identity, your age and confirm that you’re the rightful owner of the car and its title. You can provide your driver’s license to fulfill this requirement but don’t worry if you don’t have one. Another state-issued ID will also do just fine in this case.

Do I Need To Have A Checking Account To Get A Missouri Title Loan?

You don’t need a checking account to qualify for a title loan. Plus, getting started with the process is simple. Suppose you own your car and have all the required items to apply for a title loan. In that case, you only need to take the first step by filling out the online inquiry form.

Soon after you submit that form, a loan representative will call you to get the application process moving. That includes setting a time and place to meet so they can assess your car and determine its worth.

truck and cash for vehicle title loans

A few moments after that, you’ll learn whether or not you qualify for the title loan and how much you can borrow with it. Then, you could get the cash you need on the same day or by the next business day. Remember, you get to keep your car even if your loan is approved. Simply put, you’ll drive away in the vehicle you brought to the meeting with the loan representative!

Got What You Need? Start Now!

The best time to get car title loans in Missouri is right now! No matter the time of day, you can get started with Missouri Title Loans, Inc. by filling out the online form with your required information. 

Remember to keep your phone nearby to catch that call from the loan representative. Follow their instructions, and before you know it, you’ll finalize your loan application quickly!


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

Louis Tully

Louis Tully is a full-time finance writer offering financial expertise to everyday consumers. He understands the core values of finance and used his writing talents to share his own experiences with money to his readers. His articles teach how financial failures can easily become successes by making new habits and creating realistic goals.