man working on title loan checklist

Title Loan Checklist: What You Need To Remember About Your Title Loan

When an emergency hits, it's essential to consider all your options, even alternative borrowing options. Delaware Title Loans, Inc. offers convenient short-term loans that may help you out of a pinch. Still, it's good to go into the borrowing process informed, and with that in mind, here's what you should remember about a loan through Delaware Title Loans, Inc. when you need quick money.

Remember that a title loan is a short-term borrowing option intended for emergencies. Using it frivolously is unwise from a financial standpoint. It's also good to remember that your title loan is an investment that you will need to make regular payments on, and as such, you should only take one out if you can repay it.

These and other considerations can help you use this resource when it's right for you. Keep reading to discover the essential checklist items before, during, and after getting a loan.

The Ultimate Title Loan Checklist

Before Your Loan

Before you take out a loan, it's essential to consider the following questions:

  • Do I need a title loan right now? – Not everyone needs a title loan; when misused, they can be more harmful than helpful. If you're not in an emergency, it's not a good time for one of our loans.
  • Are there other options? – Even when considering a title loan, it's worth carefully considering all your options. Remember, title loans are a short-term resource, not a long-term solution. If you can borrow from friends or family or rely on your savings, you should at least consider alternatives.
  • How much do I need? – The amount you qualify for will depend on your car's value, but it's important to only apply for exactly what you think you need. Any extra borrowed money will be fed back into the loan payments anyway.

Our borrowers use title loans for unplanned expenses like rent increases, utility bills, medical bills, car or home repairs, or business travel expenses. In these situations, a title loan can be beneficial to give you that quick influx of cash for short-term sustainability.

checklist for title loans

During The Process

While you apply, it's essential to ensure you're still asking questions and staying informed. With that in mind, here are some essential questions you should ask yourself as you consider applying:

  • Am I prepared to repay the loan? – Title loans are a serious commitment, and you should consult with one of our loan representatives to determine your monthly payment to determine feasibility.
  • Am I working with a reputable company? – Some loan companies can be fraudulent or predatory, so consider your options carefully. We pride ourselves on transparency and openness; you can always contact our agents if you have any questions about your loan payments or the loan process.
  • Do I have everything I need? – Lastly, confirming you've got what you need to be approved for the loan is essential. Here, we require your state-issued ID (anything with your photo issued by the government), your lien-free car title, and your car itself. You're all set to apply if you've got these three items.

After Getting Your Loan

It's important to remember a few key details after you've secured your loan since your obligations continue.

First, you'll want to ensure you're familiar with your payment schedule, precisely how much you pay per month, and when your monthly payment is due. This information will help you avoid charges and stay on track with your title loan payments.

Getting Started: Our Quick Application Process

There's a lot to remember when considering borrowing money during an emergency, but thankfully, our quick process is as simple as it gets. Just follow these steps:

  1. Complete the online request form provided online to get in touch with a trusted loan representative. They will go through the application process and ensure you've got everything you need to start.
  2. Set up a meeting with the representative at the store or your chosen location.
  3. Attend the meeting with your required items (ID, lien-free title, car), and the associate will review them to see if you qualify for approval.
  4. If approved, leave with your car and cash that same day or the following business day.

cars and money from title loan

Get Started Today!

Delaware Title Loans, Inc. makes it easy to get your title loan and stay on top of your financial obligations. Hopefully, this helpful checklist has given you a good starting point to see if title loans are suitable for you and will help you make an informed financial decision moving forward.

If you're ready to see what you can get on your car title, submit the online inquiry form, or call us 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.

Mason Roberts

Mason Roberts is a seasoned economics writer and blogger with a knack for breaking down and simply communicating the ever-changing world of finance. He is philosophically committed to the premise that financial knowledge equals financial freedom.