car title loan

What to Know When Considering a Car Title Loan

Car Loan Loan

Last Updated on 26/11/2021 by Deepak Singla

At some point in your life, you’re going to have a need for emergency funds that you weren’t planning on. Many people still live paycheck-to-paycheck, so when a situation happens like an unexpected car repair or need for immediate medical services, this can put you in a tough spot.

It’s always great to have a savings account for when these things happen, but in the event that you don’t, then it’s always a good idea to know what your game plan is before you need cash. This is why Kansas City title loans have become such a trusted and valuable resource. In the following post we’ll cover all the common questions regarding car title loans so that you know exactly what to expect the next time you need cash.

What is a Car Title Loan?

Quite simply, it is an extremely easy and quick way to get cash. As you could probably tell by the name, a car title loan is a loan that’s determined by your car instead of your income. There is no credit check. However, you do need a free and clear car title and valid driver’s license/ID in order to qualify. The amount of the loan that you can get is purely determined by the value of the car, which usually tops out around $5,000.   

Read More: Facts to Know about Car Title Loan

What is a Car Title Loan Used For?

One of the major benefits of a car title loan is that you can use it for literally anything. For the most part, car title loans are used for emergency purposes and unexpected expenses like car/home repair and medical expenses. Some other things you can use car title loan cash for are those big-ticket items that you know are coming up, but don’t have the savings to take care of. Tax bills, car tag renewal, and tuition expenses are just a few examples of that. Also, you can find title loans that don’t require the car online!

At the end of the day though, cash is cash. You can use it for whatever you want. If you need to take a loan out to afford groceries, school supplies, or other common expense, a car title loan can certainly be used for that. The beauty of this type of loan is that there are no restrictions. 

What is the Process of Getting a Car Title Loan?

One of the things that people like so much about car title loans is that the process of getting them is quick and easy. Unlike a bank, there is no credit check and the amount of paperwork that you have to fill out is minimal. In fact, people are able to get their car title loan approved and cash in hand in as little as 20 minutes. The process breaks down into three simple steps. 

1.)   Bring your car with a clean and clear car title to the lending institution. Make sure to have a valid form of identification with you.

2.)   Fill out some basic car title loan application paperwork. A representative will evaluate your vehicle so that they can determine the amount that they can loan you.

3.)   Once your loan is approved, you walk out same-day with your cash. Even though you’re using your car as collateral, you leave in the vehicle you came in.

One additional tip: you can further speed up the process if you fill out your application online. All your information will be stored securely for when you arrive in person with your car and care title. 

Get Your Car Title Loan Today!

Kansas City title loans are easy to get and can be done in as little as 20 minutes. No matter what part of the Kansas City metro area you live in, there should be a car title loan location near you that can assist you in getting the cash that you need.

 Don’t let an unexpected expense catch you by surprise. Car title loans are the perfect solution for your short-term loan needs. Reach out to your local car title loan lending institution today to get started and get the cash you need.