First things first you will need to contact a lender to start your application. Choosing the best lender can be difficult because there are many options out there.
Your vehicle will need to have equity for the lender to be able to give you your title loan. The items that you will need will be your proof of income to show that you can support your title loan financially. Your monthly income its probably the most important underwriting factor, it is more important than your credit score because of the ability to repay your title loan results in very few repossessions.
You will also need a valid drivers license as a proof of identification. Most companies will require you to have four personal references and you will need; name, addresses, and phone numbers of all the references.
Your proof of insurance will be required by some lenders and be depending on the dollar amount some lenders will require you to have full coverage insurance.
When you have your appointment with the lender you will need to provide them the title or the pink slip to your vehicle, the lender will be added as the new lien holder and you will remain as the registered owner.
How to get the fastest car title loan, you need to make sure that you disclose any damage to your vehicle before you presented for inspection if there is damage to the vehicle this will only delay your funding.
Many title lenders will also accept salvage vehicles but generally speaking you will get 50% less on the equity of the vehicle which is salvage.
How fast can you really get a car title loan? That all depends on how fast you are able to gather all of the relevant documentation that the lender requires. If you can provide them with your proof of income, your proof of residence and your proof of insurance a copy of your driver license and a copy of your title and registration, your personal references, photographs of the inside and outside of the car and a photograph of the odometer showing the actual mileage than funding the auto title loan can be done within minutes.
Some lenders will also require to send a video of your vehicle to show the true condition of it.
Delays in funding only occur when the client fails to provide the lender or all of the required documentation.
Many lenders are able to wire the money directly into the client's bank account or if the client wishes they can also pick up their money at any money gram or western union.
To get the fastest title loan sometimes it is important to go to a lender that has local offices close to you so that you can drive to the office after being approved with your car and your title ready for inspection and ready to sign your title loan contract. It important not to forget either the car or the title to the lender because for them to fund you they have to see both.