Looking For Kansas City Title Loans? Here’s What You Need To Know
Kansas City title loans are available to those in the metro area of Missouri, but they aren’t ideal for everyone. If you need to cover urgent costs like unexpected home repairs, medical bills, or emergency travel, you may be able to get the cash you need from a title loan.
In this guide, we’re talking about the six things you need to know before considering a title loan. Some topics include how to get the process started, what happens to your car during the loan, how loan amounts are determined, and more.
Let’s dive in!
Six Things To Know When Looking For Kansas City Title Loans
1. You’ll Need Three Items To Qualify
First things first – are Kansas City title loans right for you? If you face a financial emergency, don’t have any savings, and can’t find another resource for cash, you may be in the right place.
After identifying your financial need, you can qualify for Kansas City title loans by holding a Missouri I.D. and owning your vehicle outright. The car, truck, or van must also not have any legal liens on it.
You can see if your car has any liens by checking out its title. There should be a designated section that either lists the lienholders or says there are none. The latter is called a lien-free title, and you’ll need this document to qualify for the loan.
If you own a lien-free car but don’t have it on hand, be sure it’s in your possession at the time you apply. If we can’t check out your car, you can’t qualify for a title loan.
So, the three items you’ll need are:
- A lien-free title to your vehicle
- A state-issued ID
- Your vehicle itself for inspection
2. You Keep Your Car During The Loan
Title loans use your paid-off, lien-free vehicle title collateral, which many people may not fully understand. Unlike other lenders who may hold collateral, Missouri Title Loans, Inc. does not collect your car from you when you’re approved for a loan. Instead, you’ll keep your car as usual, and it will only come to us if you decide to stop making the payments on your loan.
3. Loan Amounts Are For Up To $15,000
Title loans are best used for larger emergency expenses. If you’re short $100 for the month, you may want to check out our smaller installment loans instead.
That being said, if you have a big bill in your midst, you could qualify for up to $15,000 through one of our Kansas City title loans; however, not everyone will qualify for this amount.
Your loan decision first depends on the value of your vehicle. Your collateral – in this case, your car – needs to cover the value of your loan. That means that a car worth $10,000 will only qualify you for a maximum title loan of $10,000.
4. The Title Loan Process Begins Online
You can find out if you’re approved for Kansas City title loans in just a few minutes. Fill out our online form with your basic details and some information about your car to instantly find out if you're eligible.
After this, you’ll get a call from us to confirm your loan details, arrange a meeting, and decide the loan amount. During this call, you can ask any questions and learn more about the process.
5. You’ll Need To Have A Vehicle Inspection
The call will be from a local loan representative. They’ll arrange a time to meet with you in person to complete the application paperwork and inspect your vehicle. The car inspection is an integral part of your application and in determining how much money you qualify for.
You can choose to have the rep come to you or to meet at our office. In Kansas City, we are located at 5058 NE Antioch Road, Kansas City, MO 64119. We also have offices in over 15 locations across the state.
The in-person meeting is short and sweet and usually completed in half an hour.
6. You Can Get Your Money That Same Day
Once you’re approved and the application is completed – something that could be done in an hour or two – your cash will be on its way. Most borrowers receive their funds that same day or, at the latest, the next business day.
Ready To Pay Your Bills? Fill Out Our Online Form Now!
Ignoring the pile of bills on the kitchen table won’t make them disappear. If you’re facing urgent and expensive costs and need a financial hand, consider Kansas City title loans. At Missouri Title Loans, Inc., we make qualifying easy. All you’ll need is your car, its lien-free title, an I.D., and an hour or two of your time.
Fill out the online document to get the process started and breathe a sigh of relief. After your documents and car are inspected and approved, you’ll have your title loan in hand. What are you waiting for? In a few hours, you could have your car, your money, and your peace of mind!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.