If you’re facing urgent car repairs and need help covering the cost, a Nevada car title loan may be an option. Title loans use your lien-free vehicle title as collateral, and you keep your car while repaying.
In this guide from Nevada Title and Payday Loans, Inc., we will review how to get a car title loan for auto repairs. We will explain common auto repairs that a title loan in Nevada can help you pay. We will also review the requirements, key advantages, and how to start online or by phone for an auto title loan.
Key Takeaways
- Car title loans can help pay for emergency auto repairs in Nevada, using a lien-free vehicle title as collateral while allowing borrowers to keep and drive their vehicle during repayment.
- Auto repairs, on average, can cost about $838, based on Kelley Blue Book’s data. A title loan for auto repairs allows you to borrow money based on the value of your vehicle to fund a mechanic’s visit.
- Nevada title loans may provide up to $15,000 for car repairs, with the available loan amount based largely on the vehicle’s value, including its make, model, age, mileage, condition, and other factors.
- A vehicle that needs repairs may still qualify for a car title loan as long as it remains operable, although its condition can reduce the vehicle’s value and potential loan amount.
- The title loan process can provide fast cash for car repairs, with qualified borrowers potentially completing the process the same day and receiving funds that day or by the next business day.
Common Auto Repairs A Title Loan Can Help With
Before going over your emergency financing options, it’s essential to understand what costs you could incur from common repairs. According to Kelley Blue Book, drivers spend an average of $838 for auto repairs each time their vehicle has an issue.
That cost can vary by your vehicle's make and model. For example, a Tesla Model 3 costs around $2,510 in average repairs, while a minivan like a Kia Carnival costs about $680. No matter what vehicle you drive, paying hundreds or thousands unexpectedly for auto repairs can be inconvenient, so it’s important to understand the potential cost to prepare accordingly.
Here is the average cost of common auto repairs (numbers provided by Kelley Blue Book):
- Alternator replacement: $168.66-$197.64
- Fuel injector replacement: $1,127.30-$1,250.84
- Fuel pump replacement: $1,125.46-1,246.75
- Getting a new spark plug: $368.60-$431.25
- Alignment: $168.66-$197.64
- Brake pad and rotor replacement: $548.65-$629.04
What Is A Title Loan?
A title loan is a financing option that lets you borrow money against the value of your car. You’ll need a lien-free title as collateral to secure the loan. It’s worth up to $15,000 based on your vehicle’s value.
Our knowledgeable representatives will inspect your car and refer to a nationally recognized price guide to determine its value based on its make, model, age, mileage, condition, maintenance history, and modifications. Then, they’ll let you know how much you qualify to borrow.
You can use a car title loan to pay for auto repairs when you have to fix issues with your vehicle unexpectedly.
What Are The Advantages Of Nevada Title Loans For Auto Repairs?
Getting fast cash for car repairs in Nevada with a title loan allows you to fund your repairs within one business day. Our quick process makes it easy to qualify, as long as you meet our simple requirements. Fast approval is just one of the many advantages of car title loans in Nevada.
Below, we will go over five benefits of title loans to fix your car:
Advantage #1: Simple Required Items
Unlike with traditional banking institutions, you won’t need a long list of required documents for Nevada title loan approval. You will just need three items, all of which you should be able to find at home.
Here are the title loan requirements in Nevada:
- A state-issued photo ID that displays your full name and date of birth
- A lien-free vehicle title in your name
- Your car, truck, or van for a quick inspection
Along with these requirements, you must also verify you have income to afford repayment. You don’t necessarily need a salaried job, but you need to have money coming in to use for repayment. Potential alternative income sources include SSI/SSDI benefits, unemployment, side hustle income, alimony, retirement benefits, etc.
Advantage #2: Approval For A Title Loan With A Car That Needs Repairs
Even though your vehicle needs repairs, you can still get approved for an auto title loan in Nevada. These repairs can lower your vehicle's value and, in turn, how much you could potentially borrow.
That said, you can still get approved, just for a lower loan amount/. As long as your vehicle is still operable, you can use its lien-free title as collateral for a car title loan for auto repairs.
Advantage #3: All Credit Types Are Accepted
Since you secure this loan using collateral, you can get a bad credit title loan for repairs. While we may conduct a soft credit inquiry to see what your score is, you won’t receive an automatic rejection because of a poor or nonexistent credit score.
The lender has your lien-free vehicle title as security for the loan. If you fail to repay the loan, they have your lien-free vehicle title to recoup the value they lost. This security means you don’t have to prove your creditworthiness to get approval. Your credit score may affect loan value, depending on the lender’s terms and conditions.
Advantage #4: Keep Your Vehicle During Loan Repayment
You get to keep your car after our representative inspects it, even if your loan is approved. That means you won’t have to worry about finding alternative transportation and disrupting your daily commute to get a title loan.
Instead, you can drive your car straight to your preferred workshop to begin repairs immediately. Once those repairs are complete, you can continue commuting to work or driving the family in your car. The car stays with you as you continue repaying the loan as required!
Remember: only the car’s lien-free title is needed as collateral. The vehicle stays with you during the loan period. Keep making your payments, and you won’t have to worry about losing your vehicle.
Advantage #5: The Process Can Take Less Than 30 Minutes
At Nevada Title and Payday Loans, Inc., we allow borrowers to get same-day title loans for auto repairs. As long as you meet our requirements and follow our process, you should be able to complete everything the same day you apply. You can even finish the process at one of our Nevada stores in as little as 30 minutes.
Learn how to get approved for auto title loans in Nevada below:
- Complete our online inquiry form with your basic information (your full name, ZIP code, email address, phone number, and your vehicle’s year, make, and model)
- Answer our phone call to discuss how title loans work
- Visit our closest Nevada store with your required items for verification
- Our representative will inspect your vehicle to determine its value
- If approved, sign the final documents to complete the process
- Receive your emergency cash for auto repairs later that day or by the next business day
Get Nevada Title Loans For Car Repairs – Borrow Up To $15,000 Today!
Nevada Title Loans, Inc. can help with an emergency auto repair loan in Nevada to help fix major issues with your car, truck, or van. You can borrow up to $15,000 in emergency cash today. All credit types are accepted, and borrowers get to continue driving their vehicle.
Ready to get title loans for car repairs near me? Fill out our online title loan form today, and we'll call to explain the next steps.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
