How to Qualify for an Online Title Loan


Each year, nearly 2 million U.S. residents take out a vehicle title loan, according to Pew Charitable Trust. It’s no wonder since such loans are typically quickly approved and don’t usually require credit checks. You’re interested in getting one but are unsure whether you’re eligible. So, here’s how to qualify for an online title loan – and more.


What’s a Title Loan?

These loans are short term and secured, meaning they’re tied to collateral. In this case, each loan is secured by your vehicle, which you could lose if you don’t make payments. Just be sure you can pay off the loan when mulling how much cash to seek.

While you can use loan funds however you like, they’re usually taken out to cover an unforeseen event or other short-term expenses. 


How Do They Work?

In exchange for the loan, the lender will hang onto your title until the loan is fully paid. In many cases you can get the loan within 24 hours, and sometimes the same day.

To apply, you’ll need to supply your full legal name, address, and phone number, and proof that you can repay the loan (pay stubs, etc.). You’ll also have to give the lender the vehicle’s make, model, year, and mileage.

Usually, you’ll also be asked for quality interior and exterior photos of the car, from multiple angles.


How Much Can I Get?

If approved, the amount you can get is usually dependent upon the car’s age and condition and your equity in it. It also may depend on your earnings. However, it ultimately all depends on the lending agency and the laws in your state.

The range you can borrow is generally between $100 and $10,000; Pew Trust says the average online title loan is for $1,000. You can usually borrow between 25 percent and 50 percent of your vehicle’s value.

You’ll likely have a month for repayment, although, depending on the state, you could have a year or more. 


How to Qualify for an Online Title Loan

Again, it’s up to the lender and state, but you typically do not need good credit. You basically need a vehicle that’s registered in your name and with an unencumbered title. 

In a nutshell, you’ll typically, you’ll need to:

  • Locate your vehicle’s title. Many people just toss the title in a drawer somewhere. This is an important document so you should always be able to readily put your hands on it, especially when there’s an emergency.
  • Finish the online application. You’ll usually need a government-issued photo identification and proof of income and residency. You’ll have to upload all documents.
  • Hang tight while your application is reviewed, and your vehicle is appraised. After your application is submitted, the lender might contact you for more information about the vehicle you wish to use for your loan. If an in-person appraisal is required, a company representative may arrange to visit you, or you’ll be asked to drive to a brick-and-mortar office.
  • Pen the agreement. If your online loan application is approved, the contract can be electronically signed, and you’ll hand over the vehicle’s title.
  • Get the money. While some lenders will deposit the money directly into your account, others will allow you to come by and pick up the cash – if they have a physical location. 


Ultimately, qualifying for an online title loan is easy, especially since no credit check is usually required. In fact, you’re likely to get cash within a day of loan approval. Just make sure you choose a reputable lender – we recommend ChoiceCash, which is serviced by LoanMart – and that you can repay what you borrow, plus interest and fees, in a timely manner.



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