Truck Title Loans

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Truck Title Loans, also know as truck title pawns, are a way to get cash quickly using your truck title.  They are very similar to car title loans, the main difference being you are using your truck as collateral instead of your car.

Not all lenders provide truck title loans. It depends on the size of the truck and the name on the title. 

Some commercial truck owners have the vehicle titled in their business name. This can cause complications with getting a title loan. To find out if you can get a title loan on your truck contact your lender for more information. 

Truck Title Loan Requirements

Truck title loan requirements are essentially the same as the title loan requirements.  These include:

Lien Free Title – A vehicle title with no existing liens.  This means you have a free and clear title to the truck.  It is possible to get a loan on a vehicle while still making payments if there is enough equity. 

Valid Drivers License – A valid (current) Drivers License.  Make sure your drivers license is current and if you are driving a commercial truck that you have the proper license type.  For in person loans, you will usually need to bring the truck for an appraisal. This is not necessary for online truck title loans with no inspection or store visit. 

Proof of Insurance – Full coverage insurance is required for truck title loans.  If you have a truck with a decent amount of equity in it, you probably already carry full coverage insurance to protect your investment.  If not, the good news is it can be added the same day of the loan simply by making a phone call to your insurance carrier. In many cases, you can also update your coverage online in a few minutes. 

Proof of Income – Proof of income is usually required for title loans.  This includes truck title loans and title pawns. Some lenders do not require proof of income, if you have no income we suggest looking into title loan alternatives.

How much can I borrow?

The amount you can borrow with a truck title loan is the same as all title loans: usually 50% of the truck’s fair market value. For pickup trucks, flatbed trucks, and most trucks, you can get an idea of the fair market value from Kelley Blue Book.  

For larger, commercial trucks, finding the fair market value may be a bit more difficult. You may need to find a guide that is specific to valuing similar trucks. 

How much do Truck Title Loans cost?

We specialize in the lowest rate car title loans. The same applies for truck title loans. To get a real time truck title loan estimate use our title loan calculator. Simply enter a loan amount and choose a term in months and the calculator provides both a truck title loan estimate and an estimated payment schedule. 

This allows you to plan ahead and make sure a title loan is a feasible option for solving your short term financial issue. 

It is important to note that title loans are not the right choice for everyone. They are secured loans that require pledging your vehicle as collateral. This means if you default on the loan the lender may be able to repossess your vehicle. 

How do Truck Title Loans work?

Truck title loans work the same way car title loans work. If you are new to title loans, read our complete guide on how to get a title loan. This covers how to determine if you are a title loan candidate, repayment terms, and other useful information you should familiarize yourself with before moving forward with a title loan.

Online Truck Title Loans

Getting a truck title loan online is similar to getting a car title loan online. There are some additional requirements including pictures of the truck. The ability to get a no inspection online title loan with a truck can be more of a challenge depending on the year, make, model, mileage, and of course, state.