How does the Title Loan process work?
We follow a straightforward Title Loan process that allows you to borrow money using your vehicle title as collateral. First, use our car Title Loan Calculator to determine what amount you can afford to borrow. In Virginia, the maximum loan amount is 50% of the fair market value of the vehicle. We use Black Book and a vehicle appraisal to determine the fair market value, but if you want to get an idea of what your vehicle is worth read our blog titled "What is my car really worth?".
Next, visit us and we will perform a quick appraisal of your vehicle and verify your ability to repay the loan. We will work with you to come up with a title loan amount and term that results in a monthly payment you can afford.
Next we complete the paperwork and provide you with your title loan proceeds, in your choice of cash or check. You drive away with your vehicle and continue to own and drive it during the term of the loan as you make your payments. Once you make your final payment, we return your vehicle title to you, usually on the same day.
Make sure you bring the following:
- The Vehicle
- Lien free Title
- Government issued ID (Driver's License),
- Proof of residence (utility bill, bank statement, etc.)
- Proof of Insurance,
- Proof of income (two most recent pay statements or equivalent).
The whole process takes about 30 minutes.
Then make your monthly payments by:
- Mail (check or Money Order),
- Phone (Debit Card),
- Online (PayPay or Bill Pay), or
- In person (Cash, Check, Debit Card, Money Order).
There is no need to visit us for every payment. After you make your final payment, we return your title to you.
The big advantage of a title loan, versus selling your vehicle, is you keep and continue to drive your vehicle while making payments.
Fill out the brief online inquiry for the lowest rate Title Loan.
Complete your title loan paperwork.
Get your Cash
Receive your loan proceeds in cash and keep your car.
Get your Title Back
After your final payment your title is returned to you.