Are you looking for a way to borrow $3,000 or more? Title loans are an effective way to borrow money when no traditional lenders want to work with you because of your credit score. But what about if you don’t have the keys to your vehicle if it’s in the shop or if it is not readily available to get inspected? There may be ways to get a title loan without your vehicle, but you’ll have to meet a few specific requirements.
Most importantly, your loan amount will often be lower than if your lender inspected the vehicle in person, as they don’t have much to go on if you can’t provide access to the car or truck. Keep reading to find out if these loans are possible, what’s required and how the application process works with Car Title Loan Lenders USA.
Can Title Loans Be Taken Out Without Physically Bringing In The Car?
As the name says, car title loans require an actual vehicle as collateral. Your car is used as security for the amount you borrow, and there’s no chance you’ll ever be able to add a lender to a vehicle’s pink slip if you don’t have the car’s title. But what about if you own the vehicle but can’t bring it in for an inspection? Sometimes, a lender will approve your loan application without seeing the car if you can explain the situation and provide an alternative solution so they can verify the car’s resale value. This requires you to submit updated photos showing your vehicle, or you may need to make a video showing the inside and outside of your car to reflect the current condition and mileage.
Car Title Lenders USA can process your paperwork completely online and get you funded for a title loan without a car. The underwriting process may take longer as we’ll need to underwrite the loan differently than if you brought the car in for an inspection. We can approve your application 100% online, eliminating the hassle of bringing your vehicle to our office.
What Are The Benefits Of Title Loans Without The Vehicle Present
Simply put, it’s much easier for you, the borrower when you can be approved for instant online title loans without seeing the car. There’s no longer a need to drive hours on end to meet with a title loan provider near you. Once you get to the lending office, you still need to wait your turn in line and have the vehicle inspected by a certified agent or inspector. You can expect to have your car title loan funded in as little as 24 hours if you email us or send us the correct information along with relevant photos or videos that allow us to determine your vehicle’s actual condition and value.
If I Can’t Bring My Car, Will I Always Still Get A Title Loan?
If you have a vehicle that can be used as collateral, even if it cannot drive or is being worked on, you can typically be approved for an online title loan. This assumes you can show proof of the vehicle with photos or other evidence, and it likely won’t work together if you’re also looking for a title loan without proof of income.
In some situations, you may be denied a title loan without the car, and it always comes down to knowing what the title loan requirements are in your state.
Will I Get Less Money From A Title Loan Without Having The Car?
The money you get with a car title loan is based on the vehicle’s resale value. Pictures can often be used to obtain cash without showing the car, but there’s a chance you may get less money from many of the best car title loan companies if you don’t have a vehicle that’s present when you submit the paperwork for underwriting. You can still get approved, but some finance companies may view your loan as riskier. Considering speeding up your approval by allowing you to get a title loan without bringing in the car, the loan amount may be lower than if you committed to an in person inspection.
Loan amounts that don’t require a visual inspection of the vehicle are often far less than what you would expect with a traditional title loan. Expect a loan amount of $1,000 to $4,000 for title loans where you don’t bring in the vehicle for an inspection. Compare that to a typical title loan where you can borrow upwards of $20,000, and you’ll need to decide if you need the money asap or if it’s best to wait until you can bring in the vehicle for an inspection and get a more significant loan amount.
How Can I Get Instant Approval Title Loans Without Bringing My Car?
You can start today by applying online with Car Title Loan Lenders USA and look for an approval notification in less than an hour. The bottom line is that a title loan without the vehicle is possible if you show evidence that the vehicle exists and reflects the current resale value. We have streamlined the process to complete the application entirely online, and we want to make it easier for you by letting you get a car title loan without the vehicle present!