Does My Car Need to be Paid Off to Qualify for a Car Title Loan?

Our purpose at Car Title Loan Lenders is to help you get your financial situation – whatever it may be – squared away once and for all.  This is the reason that we recommend online title loans instead of payday loans. When people contact us looking for information on title loans online we can’t help but notice that most of them are very embarrassed at their financial situation.  They blame themselves for not making a better decision that is the primary cause of their shortage of money.  Ever since the 2008 recession, people who had never known financial distress discovered they were facing all kinds of problems that only money could resolve. Some managed to stay afloat until recently and are now finding that their personal recovery has been much slower than they expected.

We understand that anyone can run into hard financial times every now and then. Now, the consequences have caught up with them – sort of like the dog that caught its tail. Like that dog, they wonder what they can do next. Having sold everything worth selling and their credit scores are very low. All they have left is their vehicle and no bank or finance companies will work with them.  That is where the prospect of car title loans become a viable choice compared to the alternative methods of getting cash.

Does My Car Have to be free of a lien….

The first question that many people ask when they first call is, “does my car have to be paid off in order for me to qualify for a car title loan?” Generally, the answer is yes. But, that shouldn’t make you give up all hope because there are some exceptions and if you contact us, we may be able to help you anyway. The reason that we generally need a borrower to have a lien free car title is two-fold.

First, we are in the business of helping people who need help right now. If the car loan has a zero balance and no one has a lien on your car title, we can help you find legitimate car title loan companies. These lenders will get you the money you need within hours of approval of your application. That means that you are going to be able to get going in the right direction before you feel like you’re drowning in a swamp of money woes.  Second, when your car is unattached to a bank note, you have more equity available in your vehicle. That means that you could get enough money with an online title loan to catch up with whatever payments you need.

There Are Exceptions to the typical car title loan process…

Sometimes, we can help people who owe money on their car or on their title, as the case may be.  Here are some circumstances where exceptions might exist:

  • If you have a 2014 vehicle and only owe three or four more payments, you probably have enough equity in the vehicle. This may encourage title loan companies to make a lending exception for you.
  • If you took out a car title loan with another company and still owe a few payments before it’s paid in full, you may still be able to get a loan with us.
  • If you have a title loan with us and need funds added to your current loan, we may make an exception for you, especially if you have been paying on time.

Another situation that may slow things down could be that the title is in your name and the name of a family member. What if this person is no longer available to sign the contract or sign the pink slip over? pay off my car title loan This can happen with the spouses of military personnel who are serving overseas or in a war zone. It can also occur if the other party has recently passed away. Other similar situations with online title loans are rare but they do occur.  For instance, if you got divorced and your former spouse has yet to sign off the car title and turn it over. The fact is that most companies that fund online title loans will discuss the entire situation with you before there’s a final decision. If they try to rush you or don’t want to explain the process then you should run the other way.  There are plenty of good firms out there that provide online title loans.  A reputable company should go out of our way to find a solution that will work for you. The only way to know if they can help you is to contact them through their online app and they should call you back as soon as we can.