girl is happy with her car title equity loan

Get A Car Title Equity Loan With Just A Few Simple Requirements

One of the biggest stressors of having something unexpected happen is figuring out how to pay for it, but a car title equity loan can be an option for many people. This type of loan requests few requirements and even those with bad or no credit can apply. 

A car title equity loan is approved and managed by private lenders rather than traditional financial institutions like banks or finance companies. That allows lenders to make their policies and requirements for approval, as long as they follow state law. 

Many of these private lenders have made it easier for people to apply and also provide options for those who would otherwise be turned down by a bank. That can help a lot when you're facing an emergency expense and have no savings. 

Simple Requirements For Car Title Equity Loans 

The requirements for getting a car title equity loan can be different from lender to lender so it's always good to check to see what specific requirements are when you look at a lender. The three basic requirements are that you must be at least 18 years old, have a clean title, and have a vehicle listed in your name. 

Having a clean title that's in your name is the most important factor. A clean title means you own the vehicle outright, have paid it off, and there is no one else who can lay claim to it. That means your name is the only name on the title and there are no liens or judgments against it from other lenders, mechanics, or civil suit claimants. 

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A Factor To Consider

Typically, those who are seeking a car title equity loan have a larger expense to pay immediately that they can't wait to save for. The amount of money you can borrow on this type of alternative lending depends on the value of your car. That's why a vehicle inspection is part of the process. 

A loan representative will do a quick inspection of the vehicle to determine its current value and use a formula to figure out how much you can borrow. Some of the formulas consider your ability to repay. However, those offering a car title equity loan don't do employment checks, require pay stubs, or do credit checks. They will ask some questions during the application process. 

The fact the private lender doesn't check credit history is one reason many people with imperfect credit find this alternative financing helpful. Their application and loan aren't reported to the credit bureaus so their credit score or debt-to-ratio isn't affected. 

Getting A Title Loan In Delaware

One of the reputable private lenders that offer car title equity loans in the state is Delaware Title Loans, Inc. This private lender offers between $300 and $15,000 on its title loans. Its requirements are some of the simplest found too. 

All you need to apply is a driver's license or state-issued identification, your lien-free title, and your vehicle. You must be at least 18 years old. 

The application process is simple too with the in-person process taking as little as 30 minutes. Money can be given to you either the same day or the next business day. You keep your vehicle while repaying the loan as they only hold onto your title during repayment. 

man with cash from title equity loan

Get Started From Home

One of the benefits of technology today is that this private lender allows you to start the process of getting a car title equity loan from your home. All you need to do is fill out an online inquiry form to see if this is a good option for you. 

A loan representative will call you to talk about your eligibility and how to formally apply. That saves time and gas from going to the store to get information. Those who want to apply can make an appointment through the loan representative to either meet at a nearby store or somewhere else you choose for more convenience and privacy. 

Bring your required documents and your vehicle to the meeting. The loan representative meeting you will validate your items, look at your vehicle, and determine how much you can borrow. They will also guide you through the rest of the application. It can all be done in as little as 30 minutes with the loan representative telling you when you can get your money. 

What About Bad Credit?

This private lender works with those with bad credit or no credit to help them apply. Approvals are not guaranteed but this lender often can offer a car title equity loan to those that traditional lenders decline. 

Ask For Information

The online inquiry form is the way to get started getting the information you need to see if a car title equity loan is the right choice for you. It's not an application and no credit checks are done. The inquiry form doesn't obligate you to a title loan. 

Delaware Title Loans, Inc. has options for those who need short-term emergency funding. It's good to know what all your options are. Submit the inquiry form today!

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.