woman thinking how Delaware car title loans work

Can You Explain How Exactly Delaware Car Title Loans Work?

Delaware car title loans allow you to borrow as little as $300 or as much as $15,000 to fund any emergency, including medical bills, veterinary fees, home repairs, and higher-than-expected utility bills. However, most people want to know precisely how they work before signing the forms — a smart move when dealing with the money of any amount. 

This is what this guide will help you understand so you can make the right decision for your financial situation. If you’re facing a financial emergency, keep reading to discover how Delaware car title loans can help you tackle unexpected expenses with confidence and peace of mind.

Learn How Delaware Car Title Loans Work

Unlike other types of loans, car title loans in Delaware are simple to understand. The best part about them is that you do not need a perfect (or even a good or fair) credit score when you come to Delaware Title Loans, Inc. for this loan.

Instead of requiring a flawless financial history, we utilize your vehicle to establish how much you can borrow (within our $300 to $15,000 lending limits, of course). The more your car is worth, the more you can borrow.

To qualify for an auto title loan, you must have a car, truck, or van, a government-issued photo ID, and a lien-free title in your name. The latter proves you own your vehicle outright without outstanding loans or judgments.

How Do We Establish How Much Your Vehicle Is Worth?

Now that you understand how Delaware car title loan work, you may ask, “How do we calculate the value of your vehicle?” Again, like the loans themselves, it's pretty straightforward to understand. Our skilled representatives can assess your vehicle's value in as little as five minutes. And they do this by looking at the following few factors:

man wondering about how Delaware car title loans work

  • Your car's make/model — Some make and models boast super-pricey worth due to their high-quality manufacturers and features. Examples of high-value brands include Tesla, Range Rover, Lexus, Cadillac, and BMW. If you own a luxury vehicle, you stand a better chance of qualifying for the more significant loan amounts.
  • Your car's age — As you can probably imagine, the older your vehicle, the less it is worth. Although, there is a significant exception — if your vehicle is a classic vehicle, it could be worth far more than its newer cousin. After all, vehicles can lose up to 60 percent of their value during the initial five years of their life.
  • Your car's mileage — Typically, the more miles on your odometer reading, the less your vehicle will be worth. However, this isn't a one-size-fits-all statement. Why? Because we evaluate whether your car has low, average, or high mileage based on age. For your information, the average mileage is between 10,000 and 12,000 per year.
  • Your car's service history — A complete service history will always increase your car's value. Compared to vehicles without complete logbooks, they're worth much more because the chances of requiring major repairs are slim.
  • Your car's cosmetic condition — Bumps, scratches, stained interiors, dog-chewed headrests, and dents decrease the vehicle's worth. So, be mindful of that when considering a title loan in Delaware.
  • Your car's mechanical condition — Taking care of your vehicle, its handling, and its mechanical condition will serve you well. Cars with excellent mechanical shape are worth more than those that are not.

How The Delaware Car Title Loans Process Works At Delaware Title Loans, Inc.

Now you know precisely how Delaware car title loans work, allow us to show you the steps you'll need to take to get this type of loan from us at Delaware Title Loans, Inc.:

  1. Kindly submit the online inquiry form.
  2. Once we have received your details, we will call you to discuss the next steps and ensure you have the items you need to qualify.
  3. Meet us at a location of your choice (e.g., your house, your workplace, or our store). Remember to bring your ID, lien-free title, and the vehicle itself. You can also choose the online title loan option, in which our representative will meet at a convenient location like your home or office. This way, you can complete the Delaware car title loan process without ever visiting a store.
  4. We'll assess the value of your vehicle and verify your identity to determine if you qualify.
  5. If you are eligible, you must sign a few documents to confirm your agreeance with the loan terms.
  6. Finally, you will receive your emergency funds on the same day or the following business day.

woman with Delaware car title loan money

Start The Delaware Car Title Loans Process Today!

Now you know precisely how Delaware car title loans work; you can get one from Delaware Title Loans, Inc. today, allowing you to cover your emergency and move on with your life as quickly as possible.

The money you need is close! Whether you need to pay medical bills, fund out-of-hours veterinary care for your furry friend, or handle an urgent home repair, a title loan might be your best option.

So, if a Delaware car title loan sounds right for you, complete our inquiry form on this website, and we will be in touch to guide you through the process.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Daniel Dewitt

Daniel Dewitt is a lifetime blogger with a finely-honed ability to break down, analyze, and interpret economic trends for the layman. He's fiercely invested in spreading financial literacy and helping everyday people gain the tools they need for their own economic success.