Title loans can often offer a sum of money that is suitable for emergencies. But what is the max title loan amount that you can qualify for in Delaware? Whether you find yourself in an urgent need of money or you’re simply curious about the answer, learning how the maximum amount is decided can help you make the right money moves.
In this article, we will dive into this question, answer it fully, and answer other important questions related to Delaware title loans.
What Is The Max Title Loan That Delaware Offers?
While state regulations are different from one state to another regarding the exact max title loan amount. In Delaware, you can work with a lender such as Delaware Title Loans, Inc. which offers the state’s maximum amount at $15,000, with the minimum amount being $300.
However, these limits don’t exactly reflect the loan sum that you may qualify for. This sum will actually depend on the value of your vehicle.
How Is The Max Title Loan Amount Determined?
As we explained, setting the max loan amount at $15,000 does not mean you will necessarily qualify for the full loan amount. Instead, your own title loan amount will be determined by the value of your vehicle.
If your vehicle is a newer model with fewer miles, you may qualify for the max loan amount we offer. However, you may qualify for less if your vehicle is an older model or has certain issues or high mileage.
What Is Required To Qualify For Max Title Loan?
The exact requirements of qualifying for a title loan in Delaware are quite simple. There are three items that you need at Delaware Title Loans, Inc.: your driver’s license or state-issued ID, a lien-free title to your vehicle, and your vehicle for inspection.
As we mentioned, to qualify for the max loan amount, your vehicle needs to be a newer model with fewer miles, and you will also need the title for it. The title must also be in your legal name and be lien-free. If the title is in another person’s name or has debts against it, the title will not qualify you for a title loan.
However, you can qualify with cars that are in different conditions, even if they are an older model or have high mileage.
What If The Title Is Not In My Name?
If the title is not in your name, it does not currently qualify you for a title loan. Luckily, this is an easy fix. Visit your local DMV to have the title transferred over to your name, and it can then qualify you for a title loan.
What If The Title Is Not Lien-Free?
Titles that are not lien-free do not have an easy fix. Instead, you simply have to pay off all the debts so that the title is lien-free before it can be used for a title loan.
How Long Does The Title Loan Process Take?
Unlike bank loans, title loans can get processed rather quickly. The exact time it will take you will depend on whether you have your documents ready and when you start the process.
Here at Delaware Title Loans, Inc., our in-person process can take as little as 30 minutes to complete, allowing you to receive the money either the same day or the next business day.
Can I Apply Even If I Have Bad Credit?
As long as you have the three items mentioned above, you are welcome to apply for a title loan from Delaware Title Loans, Inc. We welcome all credit types, including good, bad, and no credit. This fact makes title loans an option for all individuals who can prove full ownership of a vehicle.
Will I Get To Keep My Vehicle If Approved?
Even if you are approved for a title loan, you will still get to keep your vehicle. During the loan period, the vehicle will be in your possession.
How Do I Apply For A Title Loan?
To apply for a title loan from Delaware Title Loans, Inc., you simply need to follow the steps below:
- Fill out our online title loan form.
- Wait for a loan representative to call you in a few minutes.
- Set up an appointment at a location of your choice to have your items and vehicle evaluated.
- Make sure to have the required items with you during the appointment.
- Allow the loan representative to review your items and inspect your vehicle.
- If you are approved, you can get the money from your title loan on the same day or the next business day.
Find Out If You Qualify For The Max Title Loan Today!
While the exact max title loan amount depends on the value of your vehicle, at Delaware Title Loans, Inc., we offer title loans up to $15,000. To find out how much you qualify for, simply fill out our inquiry form now to get started and we will guide you through the rest of 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.
