Thinking About Getting A Title Loan? Here’s How They Work

July 15, 2020 | Emma Frost

 title loan Reno, NV research

When it comes to getting a title loan, you should know all you can about title loans and how they work. The first thing you need to know is, understanding title loans is easy! We make things simple for everyone to understand how title loans are supposed to work. The second thing is you shouldn’t use this kind of loan to pay off your debts; that isn’t what this loan is for. It isn’t designed to be a permanent fix to your finances. What a vehicle title loan is designed for is to help ease unexpected situations and emergencies so that they are more manageable for you. Like I said, understanding title loans in Reno, NV – or anywhere else in Nevada – is not as difficult as you may think it is.

What Is A Title Loan?

Before you can understand how it works, you have to understand what it is! A title loan is a loan you get when you use your vehicle’s title as collateral. With this loan you could qualify for up to $15,000. Even though this is a good amount of money, like I said, this loan isn’t supposed to be used to pay off your debts or seen as a permanent fix to your finances. If you are using this loan as a means to permanently fix your finances, you will be disappointed. This loan is designed to help in the short term with issues that you simply cannot handle on your own. Medical emergencies, late payments on bills, or sudden needs for repairs on your home are all unexpected situations that you may need help with. There are many benefits when it comes to getting a vehicle title loan that you must know about. From welcoming all credit to being able to use any vehicle, there are many plus sides to a vehicle title loan.

Benefits Of A Title Loan

All Credit Is Welcome

If you’ve ever tried to get a traditional loan at the bank, you may find that bad credit may make things difficult. Lenders are hesitant to lend you money when your credit is poor. They may still approve you, but you could run into a lot of issues and headaches along the way. But at Nevada Title & Payday Loans, you don’t have to worry about that. We welcome you no matter what your credit may look like. So whether you have great credit or your credit is poor, you are still able to apply and see if you are approved.

You Can Use Any Vehicle

Even though you’ve heard this being called a “car title loan,” that doesn’t mean you can only get it with a car title. If you don’t have a car, or your car gets into a wreck, you can still get a title loan using whatever vehicle you do have. Cars, trucks, SUV’s, and even motorcycles qualify as vehicles for a vehicle title loan. There are only two requirements that your title must meet in order to qualify. One of those requirements is the title has to be in your name. Your title also has to be lien-free. “lien-free” means the title is free of any prior loans or judgements on it. As long as your title meets these two requirements, you can qualify for a title loan in Reno, NV or anywhere else in Nevada.

The Process Is Quick And Easy

Our process of getting a title loan is simple and quick. The way to get started is to fill out the online form. Once you fill out the form and submit it, you will receive a phone call from one of our loan representatives in the nearest title loans location. During this phone call you can ask all your questions and your loan rep will explain how the rest of the steps work. After the call, you can make your way to the nearest location with the three necessary items. When you show up, you will have some paperwork to go over and you can go over everything in the loan agreement. Your loan representative will also do a vehicle inspection to see how much money you qualify for.

You Don’t Have To Bring A Ton Of Necessary Items

Here in Nevada, we don’t make you lug around a ton of documents that are hard to organize. We do have some necessary items for you to continue the process, but you only have to worry about bringing in three things. And chances are you already carrying those items around with you, now you just have to carry them inside the building. Those items are:

  • Your driver’s license or a state issued ID that states you are 18 or over.
  • Your vehicle title that is free of prior loans or judgements and in your name.
  • Your vehicle that matches the title for a quick inspection to determine how much you qualify for.

 title loan Reno, NV loan

Now, Get Started On A Title Loan, Today

So, as you can see, understanding title loans is not all that difficult. There is no reason to search “title loans near me” when in Nevada. We have locations all over Nevada that are full of knowledgeable loan representatives that are willing to sit down with you and answer every last one of your questions. Just come to one of our locations and discover for yourself how great our reps are and how easy it is to get a title loan. In just 30 minutes or less, if everything goes alright, you could walk out of here with the cash you need to help ease your stress. We want you to be able to lower your stress when it comes to finances and emergencies. Emergencies are bad enough on their own; why go and add extra stress because you don’t have the money to cover them? Car title loans are there to lend a hand so you don’t lose your mind!