What do you need when applying for a car title loan?

My husband and I need some extra cash to finish remodeling our bathroom, but the bank rejected our personal loan application. Due to the loan denial, I want to apply for a car title loan. I’ve never applied for one before, so what do I need for a car title loan?

Answer
Remodeling your home’s bathroom is timely and expensive, so taking out a loan to help cover the cost is an option. Just make sure you can repay the loan amount on time to avoid heavy interest costs.
Requirements for a car title loan vary by lender. In general, you need the following:
  • Completed loan application
  • Vehicle title
  • Driver’s license.
  • Vehicle registration.
  • Proof of insurance
While reviewing your application, the lender examines the vehicle and may request additional information such as references or proof of income.
Before accepting a loan offer, determine precisely how much you have to pay back and compare offers from multiple lenders.
Title loans often have expensive monthly fees and high annual percentage rates (APR), so you may want to consider other forms of financing, including:
  • Low-interest credit cards
  • Loan from family or friends
  • Personal loan
These types of debt have lower interest rates and don’t require you to use your car as collateral.
To cover the cost of your remodeling project, you should look to save on other expenses, such as your car insurance.
If you want to save money on car insurance, the Jerry app is an excellent place to start. As a licensed broker, Jerry does the hard work of finding cheap quotes from the top name-brand insurance companies and helping you buy new car insurance. Jerry will even help you cancel the old policy on your behalf!
Jack Walsh
Answered on Nov 05, 2021
thumb-up

Did this answer help you?

Ask us a question by email and we will respond within a few days.
thumb-up

Have a different question?

You can meet us at our office and discuss the details of your question.
Let Jerry’s experts help you find savings on your car insurance!
No long forms or spam · Get quotes from 40+ carriers
Find insurance savings (100% Free)
rating primary
4.7/5 Rating on App Store

Easiest way to compare and buy car insurance

√
No long forms
√
No spam or unwanted phone calls
√
Quotes from top insurance companies
Find insurance savings — it's 100% free