How does the car Title Loan process work?
We follow a straightforward title loan process that allows you to borrow money using your vehicle title as collateral.
Prior to getting a title loan, we suggest you prepare by doing the following:
- First determine how much you need to borrow. Use our car Title Loan Calculator to help find a payment amount that fits your budget.
- Get an idea of your vehicle's value. 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, visit NADA or Kelley Blue Book.
- Makes sure you have the required documents (see below).
What documents do I need to complete the Title Loan process?
To insure you have everything required to get the best title loan with us, make sure you bring the following:
- The Vehicle
- Lien free Title
- Valid Driver's License,
- Proof of Insurance (full coverage),
- Proof of income (two most recent pay statements or equivalent).
Apply and visit us:
When you know what you want to borrow and have the required documents, fill out the quick online application. We prefer to make loans by appointment, and are flexible as to the day and time. If it is an emergency feel free to visit us.
Bring your vehicle and required documents to our office. We will perform a quick vehicle appraisal 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. It is important to keep in mind that our title loan process results in a short term solution for a financial need. There is no loan origination fee and we do not charge a lien fee. As soon as the paperwork is complete you will receive your loan proceeds. The next step is making your payments.
The whole process takes about 30 minutes.
How do I make my car title loan payments?
We accept multiple forms of payment to make it easy. If you have a checking account with bill pay, that is a very easy way for you to schedule and make your payments. Additionally, we accept:
- Check or Money Order,
- Debit Card,
- PayPal, and
There is no need to visit us for every payment.
Get Your Title Back:
After you make your final payment we release the lien and return your title to you. We do this the same day that we receive the final payment. You can pick your title up, or, if you prefer, we can mail it to you. For titles that are mailed, they are sent on the day of the final payment.
What are the advantages of a title loan?
The big advantage of a title loan, versus selling your vehicle, is you keep and continue to drive your vehicle while making payments. Another advantage is you can get the money you need quickly, usually the same day. Additionally, if you have bad credit, you can still get a title loan. We do not check credit, and we do not report the loan to credit agencies.
Fill out the brief online inquiry to start the Title Loan process.