One of the most common questions we hear is how much money can I get with a title loan. Or what is the expected monthly payment and interest rate? All these questions can be answered with a title loan estimate. A car title loan estimate allows you to understand what title loans are all about. That is why we broke down the different steps for you and made it quite simple to get a title loan quote with Car Title Loan Lenders USA.
How Do I Get A Title Loan Estimate
It’s simple, take the title loan amount you need, and put it into our title loan calculator below to get your answer! The title loan amount can be estimated at up to $50,000. There is no minimum title loan amount required to get a real-time quote, but please keep in mind that title loans MUST be based upon the equity (market value minus any encumbrances) of the borrower’s vehicle. Our auto title pawn estimator assumes a value of at least 25% over the high retail value of the car when used as collateral for a car title pawn or online title loan.
Most applicants will use an online calculator to get a standard title loan quote but there are other ways to determine how much you can get with a title loan. For instance, you use our directory of title loan companies to find a lender that offers funding in your state. You would then contact them directly by phone or email to get an estimate on loan amounts and expected APR.
How Can I Estimate The Loan Amount & Payments For A Car Title Loan
Although title loans are given on the basis of equity, it is possible to obtain an online title loan quote or estimate without putting your vehicle title (or lienholder information) in. Once you have obtained a car title loan estimate over the phone with one company, it’s best to call several others for comparison quotes before you apply for an online title loan. Remember that vehicle equity loans are secured against your vehicle and if you default on the payments then the lender has a legal claim to repossess your car (and sell it for cash to repay the balance of the high interest title loan amount).
Of course, the expected loan amount and the monthly payment will be different in each funding scenario. These estimates are based on title loans where you are putting up your title as collateral, but there is one other possibility. Sometimes title lenders will advance title loan funds to car title loan prospects by buying their car title outright and then giving them cash or check. The lender then repossesses the car title in return for the amount of money advanced. It’s important to realize that when a title lender deals with you in this way they are not actually lending you any money – they are simply purchasing your title!
The downside of this approach to obtaining an online title loan estimate is that it can be somewhat more costly since the lienholder doesn’t have firm numbers that you would typically expect when the loan offer is being underwritten.
What Are The Benefits Of Getting A Quick Title Loan Estimate Online?
One of the biggest benefits to getting a title loan estimate online is convenience and speed in getting you real numbers for a low interest title loan. First, online companies tend to be much more flexible with their lending parameters than traditional lenders. They’re going to give you the best title loan estimate possible because they don’t have a branch or a lot full of employees – before long your title will be in their hands and that’s where it stays until you pay back the outstanding balance on your car title loan. The payoff quote only helps you to determine the amount of cash that can be saved with a lump sum payoff or even a balloon payment if your state allows it.
The team at Car Title Loan Lenders is ready to give you a real-time estimate of what you can expect from a title loan online. This includes the estimated monthly payment amount and what you would be paying in the interest on the life of the loan. Don’t spend time wondering how much money you can borrow with a title loan. Contact us today to get a title loan estimate so you know exactly what to expect!