If you want to get a car title loan, you must either own your car or have equity in it. Assuming you meet either of those conditions, you should qualify for a loan of up to 25-50% of your car’s value or equity. Most car title loans won’t require a credit check, so this may be a good option for you.
Remember, car title loans are notorious for high APRs and short repayment periods—so they can be difficult to pay off on time. Shop around for a lender with more reasonable rates and terms before you settle.
When you’ve chosen a lender, you’ll be asked to provide:
The original vehicle title.
A functional copy of your car keys.
Once given the lender all the necessary documents, you’ll sign the loan agreement and get the money! From there, you’ll be responsible for making each payment in full and on time. Title loans put your car up for collateral, so failure to pay could result in your car’s repossession.
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