Everything You Need to Know About Car Title Loan Requirements

If you are hit with an emergency, you might look to car title loans to cover those expenses. This is partly because we here at Nevada Title and Payday Loans, Inc. have a quick and simple process and minimal car title loan requirements.

It is important you know the basics when determining how to qualify for a car title loan. Not only that, you should also know what exactly will and will not stand in your way. In this article, we will discuss the steps to get a car title loan and how the car title loan application process works in Nevada.

Car Title Loan Basics: What You Need For A Car Title Loan In Nevada

A Lien-Free Vehicle Title

Out of everything, the lien-free vehicle title is the most important of the fast cash car title loans requirements. The title is required as collateral for this loan, so you must have it with you. A lien-free title means that you have no outstanding loans or judgments against the title of your vehicle.

This means you must finish paying off your vehicle completely before you come in for the loan. If you are unsure as to whether you have a lien-free title, then check the title documents. Alternatively, you can reach out to the DMV, and they will be able to help you out.

Your Name Has To Appear On The Title

Along with a lien-free title, your name also has to be on the title. If the vehicle's title is not in your name, then you will need to head to the DMV. Keep in mind that if another name appears along with yours, you can still use the title as collateral – you just might or might not need the other person to sign off. It is just important that your name appears on the title.

A Quick Inspection Of Your Vehicle

While we require your vehicle’s title as collateral, your vehicle helps us in other ways. In order for Nevada Title and Payday Loans, Inc. to work out how much you can borrow, we will have to physically inspect your vehicle. If you are not able to get your vehicle to one of our locations, you won't be able to get a title loan.

The Type Of Vehicle Used As Collateral

When it comes to the kind of vehicle needed for a title loan, you cannot use just any kind of vehicle – even if the title is lien-free and in your name. Nevada Title and Payday Loans, Inc. can only lend against the following types of vehicles:

• Car;
• Truck (like a pick-up truck);
• Van (like an SUV or minivan).

A Government-Issued Photo ID Or Driver’s License

Before you can get a loan, we need to know who you are. We have to make sure you are 18 or older before moving through the process. This means bringing along a government-issued photo ID or driver’s license. This is another important aspect of our car title loan requirements.

If There Are Income Requirements For Car Title Loan Qualification

It is equally important for you to know about the car title loan requirements that you won't have to worry about. Nevada Title and Payday Loans, Inc. does not have any requirements when it comes to your income or employment status.

It doesn't matter whether you are employed, unemployed, on disability, or doing ad-hoc jobs to bring in an income. We aren't going to ask you where your money is coming from. We do suggest that you think a little bit about how you will be able to pay the loan back, just for your personal benefit.

The Credit Requirements For Eligibility For Car Title Loans

When it comes to your credit history, we can consider people in all credit situations. Having a few missed payments won't automatically disqualify you from getting a car title loan. We are going to be looking at your personal situation at the time that you take out the loan, as well as the value of your vehicle, to make our lending decisions.

How Do Title Loans Work At Nevada Title And Payday Loans, Inc.?

Now you know a little bit about the car title loan requirements, here is exactly how the process works. On our website, you will find a short form that you can fill in. The purpose of this form is to let a loan representative from the nearest location contact you.

Shortly after you fill in this form, an agent from your local auto title loans location will get in touch with you. They will let you know about the documents needed for car title loans in a bit more depth and remind you of the documents that you need to bring along when you meet us.

Once that phone call is over, you can head straight to your local store. We will carry out a vehicle inspection and inspect your documents. If we believe we can lend you cash, then you will be told how much you can borrow.

We will then go over the loan terms and paperwork. If you want to go ahead, then sign those loan documents. The money should be in your account by the next bank business day. In some cases, you may even receive it the same day!

Need To Borrow Cash For An Emergency? Inquire About The Car Title Loan Application Process Today

If you hold a lien-free title to a vehicle and have a government-issued photo ID, then you will already have met most of the car title loan requirements. This means eligibility for car title loans could be an option if you need to borrow cash to help cover a financial emergency. 

Begin the steps to get a car title loan today with our secure online form. Once that has been received, a loan representative will call you to explain more about the car title loan criteria and car title loan qualification.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.