What Type Of Vehicle Can I Use To Get A Vehicle Title Loan?

A vehicle title loan is often known as one option to borrow cash if you have an emergency expense and bad credit. A vehicle title loan allows you to take out the loan when you use the title as collateral. You are only going to be handing over the title to your vehicle.

Because you will be borrowing money against the value of your vehicle, there will be some restrictions on the type of vehicle that you can apply for the loan with. Some people may be a little bit confused about what vehicles can be used for title loans, though. Here is what you need to know about vehicle title loans.

Which Vehicles Qualify For A Vehicle Title Loan?

Many title loan lenders will have their own restrictions about which vehicles they are going to be able to lend cash against. However, in Missouri Title Loans, Inc., we will clearly let you know what kind of vehicle you can use.

You don’t even have to make sure it is a brand new vehicle. Just keep in mind that the value and condition of the vehicle allow us to determine how much you could get.

You Can Use Three Types Of Vehicles

This is going to be your biggest concern. When you want to take out a vehicle title loan, we only allow you to do so on three types of vehicles. Those vehicles are:

  • Cars
  • Vans
  • Trucks

Thankfully, most people are going to own one of these vehicles, so it probably shouldn't be too much of a problem. Keep in mind that whatever type of these vehicles you use, the title must be in your name and lien-free. Lien-free means the title is free of outstanding liens or judgments. If any of these things is an issue, you must deal with it before coming to see us.

The Vehicle Must Be Fully Paid Off

Any vehicle title that you are looking to seek a loan against should be for a vehicle that is fully paid off. This means that it cannot be a hire-purchase vehicle. It cannot be a vehicle that you are paying monthly installments for. You must own 100% of the vehicle.

You must also remember that the vehicle title must be in your name. You cannot obtain a loan against a title that does not belong to you. So, if you have access to a vehicle but it belongs to somebody else, then it must be the actual vehicle's owner that goes out there and obtains the loan. You do not have the right to do so.


man paid off his car and getting a vehicle title loan


Keep in mind that if your name appears on the title with another name, you can still qualify. If the word “and” is between the names, both you and the other person have to sign off on the loan. If the word “or” appears between the names, either you or the other person only has to sign off.

Don't worry if you are a little bit unsure about any liens on your vehicle title loan. We can check it for you and let you know how to proceed.

The Vehicle Must Be Inspected

When you apply for a vehicle title loan, we will inspect your vehicle to determine how much you could qualify for. We can only loan cash against vehicles that are in good working order.

If you plan on using this loan for vehicle repairs, you can still possibly use that vehicle title as collateral. Just keep in mind that you might get a lower amount based on the condition of the vehicle. If your vehicle is roadworthy, then you shouldn't need to worry about this too much.

Find A Vehicle Title Loan In Missouri

If you have a vehicle that qualifies for a vehicle title loan, then you may be wondering the best place in Missouri to obtain one. We here at Missouri Title Loans, Inc. have a quick and convenient process. The great thing is you don’t even have to come to the store if you’d rather not. The loan representative can come to you to get the vehicle inspection complete. Follow the guide below to get started on our process:

  1. Visit our website and fill out the online application.
  2. You will be contacted by a representative of Missouri Title Loans, Inc. where they will let you know if you’ve been approved.
  3. After you are off the phone, either head down to a title loans in my area or wait for the loan representative to arrive.
  4. They will inspect your vehicle and verify your documents.
  5. Once complete, the money will be deposited into your account the next bank business day.

Get Your Vehicle Title Loan Today

When you need help with an emergency expense that cannot wait, turn to a vehicle title loan today in Missouri. We have loan representatives ready to help you out whenever you need it. Fill out the online form to get started.

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

June Mckaig

June Mckaig writes articles on finance and budgeting, hoping to provide insight amidst the overwhelming crowds of information on the internet. She feels that with all this accessibility comes a lot of false data, and she would like to contribute astute, helpful input that she knows can help others. If you would like to learn more about June's research, read more here.