get your first title loan in delaware

How To Get Your First Title Loan In Delaware

Getting your first title loan can take a bit of effort to figure out. Especially if you don't know anybody who has gone down this road before. So, let us help take the pressure off and explain the exact details of how to get your first title loan in Delaware.

How A Title Loan In Delaware Works

Before we discuss how you can get your first title loan, let's take a quick look at how they work. To put it in simple terms, Delaware title loans are short-term loans that allow you to borrow between $300 and $15,000 based on the value of your vehicle.

The short-term aspect makes it easy to budget for and pay it off quickly. That’s why our customers typically use them to pay off medical bills, fund urgent and necessary travel, and pay for home repairs.

How To Get Your First Title Loan

Now you know exactly how title loans work, we can move on to the requirements you will need to acquire your first title loan and the process you need to follow.

Everything You Need To Get Your First Title Loan In Delaware

You don't need many documents to qualify for Delaware title loans, especially when compared to traditional bank loans. However, you still need the following items:

  • Driver's license or another type of state-issued photo identification.
  • Your vehicle (car, van, or truck).
  • The lien-free title to your vehicle.
  • To be at least 18 years old.

car mileage

It's important to note that we don't accept vehicles such as boats, RVs, or motorcycles. In addition, there are multiple factors that decide the total value of your vehicle and the sum of your loan, including:

  • Current mileage — The higher the mileage, the less valuable your vehicle will be. Once your car hits 120,000 miles, it's worth significantly less than its stock price. 
  • Make and model — Popular makes and models are always worth more than less popular vehicles as high demand equals higher prices. Although, some cars will always be worth more than others, such as BMW, Audi, and Lexus.
  • Condition — The cosmetic and mechanical condition affects the value of your vehicle. That’s why it’s smart to clean any stained seats and fix scratched bodywork before bringing your car in for an inspection to determine its value.
  • Alterations — Modifications like decals and spoilers negatively impact the value of your vehicle. It's unlikely that somebody else has the same automobile aesthetic expectations and preferences as you, so the more you customize it, the less it'll appeal to others. Conversely, fitting your vehicle with a brand-new engine could raise the value!

our title loan process

Our Title Loan Acquisition Process

  1. Simply get started by completing the easy title loans Delaware form.
  2. Sit back and wait fora loan associate from your closest Delaware Title Loans, Inc. location to get in touch via phone. They will discuss the requirements and the process. Additionally, they will answer your questions to ensure everything is clear before you move toward getting your first title loan. Lastly, they will schedule an appointment with you at a location of your choice.
  3. After the phone call, meet the loan associate at the location you chose, which can be any of our stores, your own home, or some other location. Make sure to have all the items we mentioned in the previous section.
  4. Next, the loan associate will review your documents. They will also examine your vehicle to figure out whether you qualify for approval.
  5. If you do qualify, you can complete the paperwork with the loan associate's assistance.
  6. Finally, you will receive the money you are eligible for on the same day or the following business day!

The Benefits Of Title Loans

There are several benefits of getting your first title loan. Here are the most prominent:

  • You keep your car while repaying the loan — You are able to keep your car while you're repaying the loan. We don't own it, so you can use it just as you did before! Its title is simply used as collateral.
  • All credit situations and financial histories welcome — Most traditional loans request that you have a good-to-perfect credit score. But this doesn’t come easily to the majority of us. Title loans, however, allow you to access financing when you need it most by just owning a vehicle (car, van, or truck). You don't need a blemish-free credit history.
  • The process is easy to follow — and you can start the process from the comfort of your own home!
  • A reliable way to get cash in an emergency — Our process is wonderfully streamlined, allowing you to finish the in-person procedure in less than an hour and get your cash on the same day or the following business day. When you're dealing with a lot of stress, the last thing you want to do is drown yourself in paperwork.

Submit Your First Title Loan Inquiry Now

That's how you can get your first title loan in Delaware in just a few steps! Once you know it's the right step for you, fill in our form to get started right away! 

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.