5 Things To Consider When Choosing A Title Loan Company

Are you planning to apply for a car title loan anytime soon? With the abundance of online title loan companies on the internet these days it’s getting really difficult to choose the right one. So, do your research first before signing any agreements and follow the tips below to make the right choice.

What to Look for Before Signing an Agreement with a Title Loan Company

1. Customer Reviews

The first step of choosing a title loan company is checking in with past borrowers and learning their experiences.

It’s even better if you’re able to find someone around you with personal experience, as many companies may fake the reviews you’ll find online.

Which is why this is only the first step. Don’t rush in. Spending a little more effort on research and digging deeper so that you’re not stuck with an untrustworthy title loan company is worth the extra time.

2. Information Privacy Policy

A good indicator of a trustworthy title loan company is the willingness to protect clients’ information.

Most companies are actually pretty solid when it comes to information privacy policies – they keep the borrowers' information solely to themselves, and don’t typically report to any credit agencies.

However, it’s still worth checking the individual policy of a title loan company you settle on before you apply for the loan.

(Missouri Title Loans, Inc. is among companies that keep the information fully private).

3. Willingness to Accommodate Your Credit and Income Situations

Any title loan company worth its salt is oriented toward making its products available to as many potential clients as possible. This means accommodating borrowers of any credit and income type.

Typically, you aren’t going to have trouble finding a title loan company that accepts borrowers of all credit types (you’ll be able to get approved even if your credit is bad or nonexistent).

However, the income situation may be more complicated, as some lenders WILL ask for proof of stable income along with collateral.

title loan representative

Missouri Title Loans, Inc. however isn’t among them. You can get approved with an unstable income or if you’re unemployed as long as you provide the lender with the required items.

4. The Easiness and Swiftness of Application Process

One of the biggest benefits of car title loans is that you aren’t supposed to jump through multiple bureaucratic hoops unlike with traditional financial institutions.

The qualifying requirements of any good title loan company are few and flexible, designed to accommodate the borrower to the best of the lender’s ability.

Just a few items should be enough and the process itself shouldn’t take more than an hour.

Here’s what you’ll need at Missouri Title Loans, Inc.:

  • A state-issued ID/driver’s license (to prove you’re over 18);
  • Your vehicle (to determine the loan amount you qualify for);
  • The vehicle’s lien-free title in your name (to prove car ownership and act as collateral).

The more items the title loan company is asking for, the more complicated its application process will likely be.

5. Willingness to Explain the Process in-Depth

The loan representative trying to speed you through the process without explaining what you’re signing up for is the biggest red flag!

Typically, if the title loan company isn’t willing to disclose its terms in full detail, it means there are certain hidden charges they’re skipping on explaining.

The thing is every licensed title loan company is required to display ALL its fees and charges in the agreement. If they skip out on anything, they risk losing the license.

So, a dishonest lender’s one hope to have you pay more than you initially thought is to get you to sign an agreement without letting you read the fine print.

If the representative of a title loan company is trying to avoid answering your questions (especially at the end of the procedure) or is giving you roundabout answers without fully disclosing the agreement details – it’s time to stand up, walk out, and find a new title loan company.

Opt for Missouri Title Loans, Inc.!

woman with missouri title loan cash

If you decide to settle on Missouri Title Loans, Inc., make sure to get the required items (your ID/driver’s license, your vehicle, and its lien-free title in your name) in order before you start the application process.

After getting the items together, you can start the process by choosing the nearest title loans store to you on the website and sending in your information by submitting the online application form.

When the form gets processed, you’ll get a call from the loan representative within minutes. They will explain the process and schedule a meeting with you.

Take the required items to the meeting and let the loan representative inspect the car and documents to determine 1) how much cash you qualify for; 2) what the terms of your loan payoff should be.

If you get approved, you’ll go through the final paperwork with the help of the representative then and there – and get the cash you qualified for!

Apply Today!

Are we the title loan company you want to work with? Then get started by filling out the application form for an auto title loan on our website. You could get $15,000 TODAY if you apply RIGHT NOW!

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.