What Documents Do You Require To Apply For An Auto Title Loan?
When you need to borrow money quickly and are wondering how to apply for an auto title loan in Nevada, Nevada Title And Payday Loans, Inc. can help. The process is quick, allowing you to get the cash you need if approved. However, you must understand the auto title loan requirements first.
The two documents you need for the process are a driver's license or a state-issued ID and a lien-free title to the vehicle, in your name.
This quick guide will walk you through the necessary documents needed for this process. As you read to the end, you'll understand why these documents matter and how you can ensure the auto title loan process goes smoothly.
For more information on how payday loans work, check out our Payday Loans Guide below.
Required Documents For Car Title Loans In Nevada
Applying for an auto loan is relatively easy, but there are a couple of documents that you must have to begin the process. Always prepare them beforehand and ensure everything is in order so your application for title loans isn't delayed unnecessarily. Here are the two documents you need to begin the process:
1. Identification
One of the first and most crucial requirements for an auto title loan is valid identification. That way, it's easy to verify that you are indeed who you say you are. In this case, you'll need either a driver's license or an identification issued by the state. Both are good enough to confirm your identity, so the process can proceed.
2. Lien-Free Vehicle Title
The second document you need as part of the auto title loan requirements is the title to your vehicle. This is another crucial document for the application, as it will serve as collateral for the loan you're taking out.
There are two things you must know regarding that vehicle title:
- It must be in your name: The vehicle title must be in your name and no one else's. If someone else's name is on it, you must go to the DMV and transfer it to your name before applying for the loan.
- It must be lien-free: The car title must also be lien-free (or 'clear'). That means the car must be yours outright without any judgments against it or outstanding loans.
If your car title meets those two requirements, you can use it to proceed with the application process. Remember, you only use the title as collateral to apply for the loan. That means you still get to keep and use the car even if your application is approved.
Documents Needed for Auto Title Loan Application:
- Valid identification (driver's license or state-issued ID)
- Lien-free vehicle title loan
- Vehicle for inspection
Once you've gathered the necessary documents, the next step is to bring your car in for an inspection.
Do I Need Anything Else To Apply For An Auto Title Loan?
Auto title loan requirements are minimal compared to other, more traditional banking loans. However, the two documents you read about earlier are just some of the items you need for the application.
Once you have the documents ready, the next step is bringing your car in for inspection. This will help the auto title lenders assess how much you qualify to borrow. The amount you can borrow will depend on the vehicle's make, model, and overall condition, as well as its current market value.
I Have The Necessary Documents And Car—What’s Next?
If you have the required documents and your car is ready to go, you can begin the car title loans process of getting an auto title loan. Here’s how it works.
- Fill out the online inquiry form to get the process started.
- Shortly after you submit that form, a loan representative from the nearest store will call you. They'll confirm that you have the necessary documents and car ready so they can make an appointment to meet you.
- Remember: the loan representative is there to help you, too. They'll walk you through every step of the way and answer any questions you might have. If you have a concern or don't understand anything, they'll be happy to help you!
- Next, bring the documents and the car to the Nevada Title and Payday Loans, Inc. location nearest to you. The representative will verify the documents and inspect your vehicle to determine how much you qualify to borrow.
- After the application is complete! If you gain approval, and agree to the fee, terms, and rates, you'll sign the loan agreement to receive your cash on the same or the next business day.
Auto title loans can be a quick solution, but they come with risks. These loans often have high-interest rates, and if you’re unable to repay the loan on time, and you default on the loan, you can lose your vehicle. Auto title loans are usually repaid in full on your next payday, but the terms may vary depending on the lender. Make sure to review the repayment schedule carefully before signing the title loan agreement.
Get Started Your Loan Inquiry Started Now!
Now that you know how to apply for an auto title loan in Nevada, you can get started with us at Nevada Title and Payday Loans, Inc., immediately after you understand the auto title loan requirements and the documents involved. You'll want to answer the loan representative's call when it comes in!
Ready to get started now? Fill out our online form now to begin your auto title loan application and get the cash you need quickly. Remember to provide your information as accurately as possible to help you avoid any unnecessary delays and help you complete the application quickly.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.