Is There A Long List Of Auto Title Loan Requirements In Idaho?
Understanding the auto title loan requirements you must fulfill before applying with Idaho Title Loans, Inc. is one way to ensure your application goes as smoothly as possible. Doing so means you can prepare all the necessary items ahead of time and avoid any unnecessary delays.
The requirements you must meet to get an auto title loan are being at least 18 years old, providing valid identification, and having a lien-free car title. Besides that, you must also bring your car in during the application phase for a physical inspection. That way, a representative can determine how much your car is worth and, by extension, calculate how much you qualify to borrow.
It won’t take long for you to understand the few requirements for auto title loans in Idaho, especially when you read this guide. Here, you’ll learn more about each requirement, while learning the answers to some of the most frequently asked questions about these loans!
Is There A Long List Of Auto Title Loan Requirements In Idaho?
You’ll be glad to know that the list of Idaho auto title loan requirements is incredibly short. Better yet, you probably have most (if not all) of the required items within arm’s reach. That means you likely won’t need much time or effort to get your application ready!
Here are the requirements for an auto title loan:
1. Minimum Age
Before anything else, the first requirement you must meet is to be at least 18 years old. That minimum age requirement is a hard and fast rule, so it doesn’t matter if your 18th birthday is only a short while away.
As long as you are legally 18+, you’ve met the first title loan requirement.
2. Valid Identification
Next, you’re also required to provide valid identification as part of the application process. Your driver’s license is good enough, though you can also use another state-issued photo ID in its place.
Your identification is crucial so the loan representative can verify your age and identity when they examine your documents.
3. Car Title
Since you’re applying for an auto title loan, that means you’ll also need to provide a car title. More specifically, you must have a car title that’s lien-free, sometimes referred to as being a ‘clear’ car title.
To put it simply, those terms mean that you own the car outright and have no outstanding loans or judgments against the vehicle.
Your car title will act as collateral to secure the loan you’re applying for.
4. Car, Ready For Inspection
Even though you’re using the car title to secure your loan, you must also have access to your car, at least during the application process.
That’s because you must bring your car when you meet the loan representative so they can physically inspect it. That inspection is an important part of the title loan process to determine how much you qualify to borrow based on your car’s value.
You’ll get to keep your car once you complete the application process, regardless if you’re approved or not. That’s one of the great benefits of getting an auto title loan! You can keep and drive your car as usual while you make payments.
Do I Need Good Credit To Get An Auto Title Loan?
No, having perfect credit is not one of the auto title loan requirements. Whether you’ve got good or bad credit, you can still apply for a title loan.
Your application will be evaluated in the same way as anyone else’s as long as you fulfill all the requirements mentioned earlier.
Can I Use Someone Else’s Car Title To Apply For A Title Loan?
No, you cannot use someone else’s car title to apply for a title loan. Instead, the title must be lien-free or ‘clear’ and registered in your name.
If that’s not the case, you can stop by the DMV office to have it transferred into your name before you begin your loan request. As soon as the title is in your name, you can use it to apply for a loan.
Will I Be Disqualified If I Don’t Have A Checking Account?
No, having a checking account is not necessary for you to qualify for an auto title loan.
What Do I Do If I Don’t Have A Driver’s License?
Earlier, you saw that having a driver’s license is one of the few auto title loan requirements you must fulfill. However, there is some flexibility in that requirement.
If you don’t have a valid driver’s license, you can use another valid state-issued photo ID instead. That ID will serve the same purpose of enabling the representative to verify your identity and age as they examine your loan request documents.
Get Your Auto Title Loan Now!
With so few yet straightforward auto title loan requirements, you can start applying with Idaho Title Loans, Inc. in no time! As soon as you’re ready, take the first step by submitting the short online request form with your basic information.
That form will send your information to a helpful loan representative at a nearby location. They’ll call your phone to discuss your title loan request and walk you through the rest of the process all the way to the end!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.