5 Things To Know About Your Lien-Free Vehicle Title

You may be familiar with the basics of how title loans work, but there are 5 things to know about your lien-free car title that we want to share with you today. A lien-free vehicle title can sometimes afford you a loan that is greater than other title loans due to the nature of owning your vehicle outright. 

By submitting an inquiry for a loan using your car title as your form of collateral, this type of title loan could be an option worth looking into. 

In this complete guide, we’ll be highlighting the top 5 things you should know about a vehicle title that has no lien and how it affects a potential loan. Continue reading to learn all of this and find out how our loan company can help you with a quick and easy inquiry process that could potentially help you afford an emergency expense.

Lien-Free Vehicle Title - 5 Things You Should Know

1. You must have fully repaid your vehicle loan already
2. A lien-free title has no judgments against it
3. Lien-free titles are eligible for title loan inquiries
4. You can start applying for a lien-free title loan online in Missouri
5. A lien-free vehicle title still requires you to conduct a car inspection 

1. You Have To Have A Fully Paid Off Vehicle 

This should come as no surprise, but a lien-free vehicle title must be attached to a vehicle that is completely paid off. This means that you can’t have any outstanding balances or interest on the loan for the vehicle you own. Otherwise, the title is not eligible for this type of loan application process. 

Once you have a lien release on your vehicle, and all conditions of your car loan are met, the title is officially yours. At that point, you can see if you end up qualifying for this type of loan, such as those provided by Missouri Title Loans, Inc. 

2. Lien-Free Title Has No Judgments Against It

Furthermore, a vehicle title that has no lien on it is also one that does not have any judgments against it. For example, you may have a court order saying you are required to pay money for your vehicle. Or perhaps you have outstanding debt on the vehicle. 

These situations make you vulnerable to having your vehicle taken from you by a creditor, but they also make your vehicle title ineligible for a title loan.

3. You May Apply For A Loan If You Have A Lien-Free Title

Once you have confirmed that your vehicle has a lien-free title attached to it in your name, you can begin the process of submitting a title loan inquiry. Of course, there are other conditions you must meet to submit an application, such as providing your identification, vehicle title, and vehicle for inspection. 

But overall, a lien-free vehicle title is a great asset to have, as it may qualify you for a loan using a car title as collateral. 

4. You Can Apply Online For This Title Loan In Missouri

Did you know that you can easily apply online for a lien-free vehicle title loan in Missouri if you don’t want to apply in-store? 

The entire application experience is surprisingly simple with Missouri Title Loans, Inc. The first portion of the inquiry process is conducted online with a form, after which point one of our loan representatives will give you a call to verify your personal information and schedule a vehicle inspection. 

5. Lien-Free Vehicle Title Still Requires An Inspection 

You should also be aware of the fact that an application for a lien-free vehicle title loan still involves a vehicle inspection. Even with a lien-free title and proof of your full ownership of a vehicle, you need to allow an inspection. 

This inspection will partially determine whether or not you qualify for a lien-free vehicle title loan and may influence the amount that you end up qualifying for. Note that Missouri Title Loans, Inc. has representatives who can meet with you in person to conduct this inspection. 

Get Started And Submit Your Application For A Missouri Title Loan Today!

Now that you’re aware of the 5 things to know about a lien-free vehicle title, it should be obvious why you might want to consider inquiring about a title loan using a car title as collateral. 

Missouri Title Loans, Inc. allows for quick and simple online/over-the-phone applications, as well as in-store applications, that could take as little as just 30 minutes. Further, if you end up qualifying for this type of loan, you could be getting your funds in as little as one day.

Make sure to have your state I.D. or driver’s license ready, along with the title to your car (lien-free) and your vehicle ready to go for the inspection. What’s more, is that you don’t even need to have great credit to apply for the loan.

If you are a minimum of 18 years old and want to cover an emergency expense with your lien-free title, consider getting started today with your application to see if you qualify!

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