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How do you do a car title loan?

What’s the best way to do a car title loan application? I want to get one to help with some unexpected repairs, but I don’t really know much about them.

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Liz Jenson · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
All you need to do to apply for a car title loan is have either your own car or equity in one. If you have either one, then you can likely qualify for a loan of up to 25-50% of your car’s value.
From there, you need to find a lender. Title loans often have high APRs and short repayment periods, so it’s important to shop around before you sign an agreement. Remember, title loans hold your car as collateral, so it’s worth taking some time to find a good offer.
Once you’ve chosen a lender, gather the following documents:
  • The original vehicle title
  • Your driver’s license
  • Proof of residency
  • The names, phone numbers. and addresses two references
  • A functional copy of the vehicle’s keys
  • Proof of income or ability to repay the loan
If the lender approves your application, you just need to sign the agreement and start making payments!
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