You don’t need to search for title loan places near me anymore. At Delaware Title Loans, Inc., getting a loan is simple, even if you have bad credit. That’s why it’s important to know your options when getting a title loan with bad credit before applying.
This guide explains five key things to understand before you start the title loan process. These insights will help you borrow smarter and feel more confident.
5 Key Things To Know Before Getting a Title Loan
The process you’ll go through to get a title loan is straightforward. Better yet, you’ll have the guidance of a friendly representative who will address any questions or concerns you have. Still, you’ll want to be aware of a few options and considerations before you begin. Understanding them will help you make the most out of your experience. Here are five crucial considerations to know when getting a title loan:
1. What You Need To Apply
You only need to provide a few items to get a title loan, which are the following:
- Identification: First, you must provide your driver’s license for identification purposes. Here, you also have the option of using a state-issued ID instead, perhaps if you don’t have a valid license at the time.
- Title: Next, you must provide a car title, which will serve as collateral for the loan. That title must be registered in your name. It must also be ‘clear’ or lien-free, meaning it’s free from any outstanding loans or judgments against it.
- Vehicle: Lastly, you must have your vehicle with you for a quick inspection. That’s necessary to assess its value and determine how much you qualify to borrow.
An important thing to remember is that the vehicle is only necessary for the physical inspection. You can drive it home even if approved, as only the car title is used as collateral.
2. Car Ownership
Another crucial thing to consider is that you must be the full owner of the vehicle to get a title loan. Your ownership will be reflected as the person named in the car title. Suppose that title isn’t in your name for whatever reason.
In that case, you must visit your local DMV office first. Once there, you can transfer the title to your name as the vehicle’s full owner. Doing so will authorize you to use the title as collateral to get a title loan.
Learn more about how title loans work.
3. How To Start
Title loans offer a convenient way to borrow money urgently. Part of that convenience comes from the options you have for starting the process of getting a loan. Here are the two ways you can begin getting a title loan:
- Option 1 - Your first option is to visit a nearby store location. You can find the closest one to you by visiting the Locations page on this website. There, you’ll also find the opening hours and contact information for your chosen store.
- Option 2 - Your second option is to get the nearest store to find you! Do that by submitting your information through the online form. A representative at the nearest store will receive that information and call you soon after that.
Choose the option that suits your needs the best. Some people prefer the convenience offered by option 1, while others prefer the face-to-face interactions when visiting a store location.
4. Where To Meet
You can meet with a loan representative face-to-face for your vehicle inspection.
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Apply online and schedule a meeting at a more Delaware Title Loans, Inc. location near you
This makes it easier to get started even if you can’t get to a store.
5. How Much You Need To Borrow
Lastly, it’s important to consider how much you need to borrow. A title loan can help you get as much as $15,000, depending on how much your car is worth. That’s true regardless of whether your credit is good or bad.
However, the responsible thing to do is to calculate precisely how much you need to cover your urgent costs. Take some time to understand your financial needs. Then, you’ll make better financial decisions when getting a loan to cover your urgent financial needs.
Start Your Title Loan Today
You no longer have to search for title loan places open now because Delaware Title Loans, Inc. is ready to help you. Understand the crucial considerations and options above to ensure you have the best experience possible when getting a loan.
Remember that you can start anytime by filling out the online form on this website. Doing that will pass your information to a nearby representative who will contact you soon to walk you through the remainder 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.
