Car Title Loans: Why It's Not As Difficult As You Think To Get One!

If you’re in a pinch and need cash ASAP, then you might’ve already looked into applying for car title loans.

Car title loans are a popular choice for those who’ve found themselves facing unexpected expenses and for a good reason – they’re accessible, simple, and fast!

Yet, due to this popularity, there are also a lot of misconceptions surrounding car title loans making potential borrowers think they’re a lot harder to get than they are.

Read on to find out what makes car title loans some of the most accessible and easiest loans to acquire.

Why Car Title Loans Can Be Easy To Get

1. There Aren’t That Many Requirements To Satisfy

With car title loans there are only a few requirements you need to satisfy to be eligible:

  • You must be a legal adult with a valid ID to prove it – no lender will be able to approve a minor for the loan, you must be at least 18 to be eligible
  • Own a car – your car will be acting as collateral, as well as determine the amount of cash you qualify for
  • Have that car’s title in your name and lien-free – you won’t be able to use the title if it has another person’s name on it (even if they agree to let you use the car).

2. Some Of Them Are Flexible! (Yes, You Can Still Get Car Title Loans, Even If You’re Unemployed)

Unlike loans from financial institutions (say, banks) qualifying requirements for car title loans are flexible. Private lenders are interested in putting money into your hands, so they’ll do their best to accommodate you.

One of the most important flexible qualifiers is your income – namely the fact that you don’t need to be employed and have a monthly paycheck to be approved.

When it comes to car title loans, you can use your car title as collateral, which simplifies this process.

You can use your unemployment or welfare checks, alimony, inheritance – or even savings (if you don’t want to deplete them all at once due to expenses) as a loan payoff.

3. Your Credit Score Won’t Influence Your Chances (Nor Will They Be Influenced By Car Title Loans)

Almost anyone can get approved for car title loans if they provide the lender with the title loan required items – even if their credit is bad or outright nonexistent!

And the loan won’t be reported to any credit bureaus, meaning it won’t influence the score either – be it positively, or negatively.

4. Mobility Won’t Be A Problem – The Car Stays With You!

There’s a widespread misconception that unless you’re ready to give up your car, you shouldn’t apply for car title loans – since the lender takes it away until the loan is fully paid off.

In reality, it’s the car title that stays with the lender as a guarantee. The car stays with you – and you’re free to drive it around, same as before, while you’re paying off the loan.

5. You Can Get Started Online – It’s Easy And Fast!

These days, car title loans are more accessible than ever before – not only due to their flexible qualifying requirements but due to the easiness of the process. Missouri Title loans has locations all over the state and you can choose the most convenient one while applying online.

You will only have to visit the store once – for the appointment with the loan representative to appraise your car and determine how much cash you qualify for. Don’t have a lot of free time and need the cash the same day? Online application makes it possible and then you can choose the location you want to meet at instead.

get a car title loan today

Get Car Title Loans Online Right Now!

Start the application process from the comfort of your own home without having to leave your couch! Just get your phone or laptop and go to the Missouri Title Loans website! Select the store closest to you from the location webpage and submit a filled-out online form. It will get processed in a matter of minutes, and soon enough you’ll be contacted by a loan representative who’ll provide further instructions and set an appointment for you.

Take the required items – your state-issued ID, your car, and the car’s lien-free title in your name – to the scheduled appointment at either the store or the place that you choose. The loan representative will inspect the car and assess the documents to determine if you qualify for the loan.

If you’re approved – you’ll complete the easy paperwork on the spot and receive the cash, you qualified for the very same day! This entire process takes on average no more than 30-45 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.

Mason Roberts

Mason Roberts is a seasoned economics writer and blogger with a knack for breaking down and simply communicating the ever-changing world of finance. He is philosophically committed to the premise that financial knowledge equals financial freedom.