person in debt needs a title loan

How To Get A Title Loan Even If You Already Have Debt

When you’re already in debt, getting a loan can be difficult, if not impossible. Here, Idaho Title Loans, Inc. will explain how to get a title loan, even if you already have other debt. We’ll also explain what makes title loans different from traditional bank loans so you know what to expect if it’s your first time applying.

Can I Get A Title Loan With Existing Debt?

If you’ve ever wondered how to get a title loan, you probably have some other questions, too, like…

  • How much can I get from a title loan?
  • When will I receive my money?
  • Can I apply if I have bad credit or existing debt?

In this section, we’ll answer these questions and others, so you’ll fully understand how title loans work, regardless of your current situation, and you’ll know how to get a title loan if the need ever arises. You can get a title loan if you have other debt unless that debt is an auto debt.

get title loan if already have debt

Here’s what we mean:

When you apply, your car title serves as collateral, securing loans up to $15,000 to be repaid in installments over a relatively short period of time.

Therefore, you need to have equity in your vehicle in order to use it for a title loan. You will turn the title over to us for the duration of the loan, and we return it to you when the loan is paid in full. That’s why we require a lien-free title in your name alone.

When you apply, a representative from a nearby location will estimate the value of your vehicle and set your maximum loan amount based on that figure.

How Title Loans Differ From Bank Loans

Going to the bank for a personal loan can be a complex process, and you aren’t guaranteed to get your money anytime soon. That’s just one way our loans are different from bank loans. Here are a few more:

  • You could get approved in minutes. With our speedy process, most customers usually get approved in just 30 minutes.
  • We offer shorter repayment periods, so you aren’t burdened with long-term debt. You will still have fixed payments, but far fewer than a traditional bank loan.
  • We have lenient credit requirements. There is no minimum credit score to apply, so everyone is welcome.

There is a time and place for each type of loan. Title loans are generally easier to obtain and are offered in smaller increments than bank loans, such as mortgages or new car financing. Now, let’s look at how to get a title loan.

How To Get A Title Loan

Idaho Title Loans, Inc. has made the process of how to get a title loan as simple as possible. Here’s a quick breakdown of what you will need and how to apply in person or online.

debt payoff paper clipped to title loan cash

What you’ll need:

  • A vehicle - You must present your vehicle to a loan officer so they can inspect the vehicle and determine its value. This doesn’t have to happen at one of our offices. We can actually meet you anywhere to do this brief inspection.
  • The title to the vehicle - We ask that the title is in your name only. If you have a co-signer or an additional name on the title, you will need to have that transferred over before applying. You can do this at the DMV. 
  • Personal identification - Any I.D. is fine, as long as it is state or government-issued.

How to apply:

Our online and in-store options make it easy for anyone to start a title loan request whenever they’re ready.

Enter some basic information into the form at the top of our website (your name, address, phone number, and zip code) and some details about the vehicle you’ll be using for your title loan (the make, model, and year) and submit. 

Soon after submitting the form, you’ll get a call from a local Idaho Title Loans, Inc. representative who will confirm your information and collect a little more, answer your questions about the title loan process, and provide specific details about your loan terms.

You can also skip the online step and go directly to your nearest location if that’s more convenient.

The next part of your request will require you to meet with a loan rep to have your car inspected. There they will confirm details about the vehicle, including the VIN and condition, then tell you the maximum amount you’ll be able to apply for.

Get A Title Loan Today!

Title loans are different from other types of loans because we don’t look at a debt-to-income ratio or credit history the way other lenders do. So even if you have debt, you could still be approved for an Idaho title loan.

To get started, use the online form, call us directly, or visit a store location in your area. Our experienced and helpful loan reps are waiting to assist you with your fast cash needs.

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

Emma Frost

Emma Frost is a lifestyle and finance blogger with a talent for communication and a passion for financial literacy. She uses her writing talents to explore topics that help her readers gain financial stability and growth.