Are The Auto Title Loan Requirements Easy To Put Together?
There are only a few auto title loan requirements for you to meet when borrowing money from Idaho Title Loans, Inc. And, those requirements are actually very easy to put together. In fact, you likely have most (if not all) of them already within reach!
The auto title loan requirements you have to meet are the minimum age of 18, a valid photo ID, and a lien-free car title. Besides that, you must also be able to bring your car in for a quick inspection to determine its value. That way, you can find out how much you qualify to borrow!
Read through this quick guide to understand the requirements you must fulfill to get an auto title loan and discover how easy it is to put them together! By the end, you’ll also learn the steps to take to get the cash you need.
Let’s get started!
What Are The Auto Title Loan Requirements?
There are only a few requirements that you have to fulfill to apply for an auto title loan, and they are as follows:
1. Minimum Age
The first auto title loan requirement is the minimum age requirement. You must be at least 18 years old to apply for one of these loans and not a day younger.
Once you’re old enough, you can proceed to the next requirement.
2. Valid Photo ID
The second requirement you need to prepare is a valid photo ID. You can use your driver’s license to meet this requirement, though another state-issued photo ID is also an option.
3. Lien-Free Title
Next comes one of the most important requirements you need to put together. Given that you’re applying for an auto title loan, it should come as no surprise that you’ll need to provide your car title as well.
More importantly, that title must be lien-free or ‘clear’. In other words, you must own the car outright without any judgments or outstanding loans against it.
4. Car For Inspection
Lastly, you’ll also need to bring your car in during your application. That’s only necessary, so a representative can perform a quick inspection of the vehicle to determine how much you can borrow.
The amount you qualify to borrow will depend on your car’s value. The representative will inspect its condition and then refer to a nationally recognized pricing guide to figure out how much it’s worth and, by extension, how much you qualify to borrow.
Frequently Asked Questions
What If My Car Title Is In Someone Else’s Name?
The car title that you use to apply for an auto title loan must be registered in your name. If that’s not the case, you must first visit your nearest DMV office to have it transferred to you.
Only once that process is complete can you use the title to apply for one of these loans.
Can I Qualify With Bad Credit?
Yes, you can certainly qualify for an auto title loan with bad credit. Having perfect credit is not one of the auto title loan requirements.
Instead, your application will be considered just like anyone else’s as long as you fulfill all the other easy requirements qualifying is still a possibility.
Do I Need A Checking Account To Apply?
No, you don’t necessarily need a checking account to apply. So, even if you don’t have one, you can continue applying once you have the other requirements put together.
What If I Don’t Have My Driver’s License?
If you don’t have a driver’s license, you can still apply as long as you provide another valid state-issued photo ID.
Your identification is necessary to verify your name, age, and other important details to complete your title loan application.
How Do I Get Started On My Application?
Once you’ve put together all the requirements, the only thing you have to do is submit the short online request form. Doing that will send your details to a representative at the nearest store location to begin the title loan application process.
Soon after that happens, the representative will call you on the phone to talk about your application. They’ll brief you on the requirements so you don’t miss anything, and then they’ll set an appointment to meet you in person.
It’s at that in-person meeting that they’ll verify your documents and inspect your car. Then, they’ll let you know if you qualify for a loan and, if so, how much you can borrow.
That meeting is so straightforward that you could be done in as little as 30 minutes!
Get Started Now!
You can get started on your title loan request with Idaho Title Loans, Inc. as soon as you get your auto title loan requirements put together! As you read above, all you need to do is submit the online request form to begin the title loan process.
Before you know it, you’ll be on the phone with a friendly loan representative who will guide you every step of the way. Be sure to ask them plenty of questions so you can borrow money with full confidence!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.