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4 Factors That Will Affect Your Title Loan In Coeur d’Alene, ID

Getting a title loan in Coeur d’Alene, ID, is a valuable option for many people, but it’s always good to know what to expect from your title loan. Here are 4 factors that will affect your title loan in Coeur d’Alene.

Considering A Title Loan In Coeur d'Alene? Here's What Can Affect Approval

The four most significant factors that lenders will look at when you apply for a title loan are your documentation, the condition of your vehicle, your credit history, and any judgments against your car.

These factors can all lead to less favorable loan terms, so it’s important to plan when you’re considering a title loan to make sure everything is in order. The rest of this article will walk you through these four key factors of getting approved for a title loan.

1. Title Loan Requirements In Coeur d'Alene

One of the most important things lenders will look at before they’ll consider you for approval is your documentation. First and foremost, you must be 18 years of age or older to qualify. You’ll also need to make sure the following information is correct and up to date.

Items Needed To Qualify 

  • Your driver’s license or other state-issued ID
  • Your contact information
  • The title of your vehicle

A representative from the loan office will ensure that your ID is valid and that you’re able to be reached via a phone number or email. This is to establish a bond of trust between the lender and borrower and to confirm your identity.

The most important piece of documentation you’ll need for a title loan is, of course, your title. A damaged title or a title with incorrect information on it is considered void and can’t be used to get a title loan.

Similarly, if any information on the title has been noticeably modified, then the title is invalid and not applicable for a title loan. Always make sure your title is up to date and has the correct information on it before you apply for a title loan. If you don’t own the vehicle outright or if the vehicle title is not in your name, then you cannot use that vehicle to get a title loan.

If you can transfer the title into your name, you can do so to qualify for a title loan.

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2. The Condition of Your Vehicle

The state of your vehicle is important for a title loan in Coeur d’Alene. The better shape your vehicle is in, the more favorable your loan terms are likely to be. Always keep up on vehicle maintenance to ensure it’s in the best shape possible.

3. Credit History

If you’ve maintained a good history of paying off other debts and have a good credit score, then you’re likely to get higher loan amounts and more favorable terms for the loan, since you’ve established yourself as a trustworthy borrower.

If your credit is poor or non-existent, then don’t worry too much! While the terms of your loan may differ, lenders are often still willing to work with people who have bad credit because the loan is secured.

4. Judgments Against Your Car

If you currently have a lien against your car, are still making payments on it, or have any other kind of judgment against it, then you are not eligible for a title loan in Coeur d’Alene.

Very few lenders are willing to work with a vehicle that has more debt than value, so if you’re still making payments on your car, finish up those payments before inquiring about a title loan.

Cars with a lien are an immediate nonstarter for lenders, so if you desperately need a loan, it’s worth looking into an installment loan instead.

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How Idaho Title Loans, Inc. Can Help You

Idaho Title Loans, Inc. is a reputable lender that offers title loans up to $15,000. To apply, all you need to do is fill out an online request form, which will put you in contact with a local Idaho Title Loans, Inc. store. Once your information is submitted, you’ll get a call to go over the required items you’ll need and schedule a meeting.

At the meeting, the representative will take a few minutes to inspect your vehicle. When you arrive make sure you have your ID, vehicle, and title with you.

If you qualify, you can get the money you need the same day or on the following business day. You don’t need a checking account to qualify for a title loan in Coeur d’Alene with Idaho Title Loans, Inc., and all credit is welcome to apply.

Get Started with Title Loans In Idaho Today

Many factors can influence your car title loan, and finding a reputable lender can be difficult. For anyone in need of a title loan in Coeur d’Alene, Idaho Title Loans, Inc. is a trusted lender who is capable of working with you. Using your vehicle title for collateral is a great option if you need emergency cash for travel expenses, major repairs, or medical bills, so take a moment to submit your inquiry today!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Daniel Dewitt

Daniel Dewitt is a lifetime blogger with a finely-honed ability to break down, analyze, and interpret economic trends for the layman. He's fiercely invested in spreading financial literacy and helping everyday people gain the tools they need for their own economic success.