To improve your chances for fast car title loan approval and to get cash fast from your title, try these tips. In some cases, another type of loan option may be more appropriate for your circumstances.
Check your state
Not every state permits fast title loans. Advance America offers instant title loans in Alabama, Delaware, Idaho, Illinois, Louisiana, Mississippi, Nevada, Tennessee, Texas, and Wisconsin.
States that do not permit quick title loans include Colorado, Connecticut, Hawaii, Oregon, Rhode Island, South Dakota, and Wyoming. Other states may have special restrictions on title loans or may have certain requirements, such as mandatory-in-person requirements. Again, calling a location in advance or to an in-store visit can help you understand any requirements or restrictions for your state and make sure you have all your documentation ready.
Know your car’s estimated value
Knowing your car’s estimated value will give you a sense of what your fast title loan may look like. It can also help you assess whether a title loan is the most appropriate loan for your circumstances. To get a sense of your car’s estimated value, use our title loan estimator to get a range. This is based on the make and model of your car, as well as the state you’re applying from. Remember, the actual title loan you’re offered depends on the condition of your car, as well as other information on your application, such as your income.
Understand your ability to repay
As with any loan, your ability to repay a fast title loan is a prime indicator of your eligibility. Knowing how much you can afford to repay over the scheduled repayment term can help you build a loan that fits within your budget. Your available budget will likely be understood by your lender as they look at measures of your income and current debt, so they will likely create a similar maximum on the loan they offer.
Loan repayments are usually paid monthly and there may be a fee for the origination, or beginning, of a loan. Advance America does not have an early payment penalty. This means if you get a pay raise or windfall, you can pay off your loan in full without an early payment penalty fee.