How Much Can I Get for a Title Loan?
One of the most common questions we get is, “how much can I get for a title loan?”
At 5 Star Car Title Loans, our minimum loan amount is $2,600. They range between 25% and 120% of your car’s value.
However, every lender has a minimum and maximum loan amount for how much you can get for a title loan. Some start with low, hundred-dollar loans and can run as high as fifty thousand.
Our loans depend on many factors including:
# The car’s equity
# Your credit profiles
# Your ability to repay the loan
While your lender credit criteria and state-set limits to how much you can borrow with a title loan, the value of your vehicle and your ability to repay the loan is really what determines your eligibility
Way to Know How Much You Can Get for a Title Loan
Title loans are a unique finance option that lets you borrow money based on the value of your vehicle and your ability to repay the loan. By using the title to your car as collateral, you can easily qualify for a loan and have cash in hand within 24 hours.
It’s always a good idea to get a clear value estimation of your vehicle before applying for a car title loan. You can find out the value of your car using an online tool like Kelley Blue Book.
Remember that every state is different and the amount you can take out will depend on your state laws and your title loan lender credit criteria.
The Factors for Title Loan Amount
There are several different factors to consider when it comes to a title loan amount. Here is what is going to be contemplated before you are able to get your loan:
The Value of Your Vehicle – Figure Out How Much Your Vehicle is Worth
The amount of the loan you qualify for depends greatly on the worth and value of your vehicle. You must have enough collateral to qualify for our lowest loan amount of $2,600.
You’ll typically have to do is agree to have your vehicle inspected to qualify for a title loan. You can determine the amount your vehicle is worth using this tool.
Your State of Residenc
Not all states allow for title loans. In some states, title loans are illegal, which means we, unfortunately, will not be able to process your application. Find out if your state allows title loans before applying.
Title loans are not available in all states. California is one of the few states fortunate enough to have certain loopholes that allow for title loans to be issued.
Ability to Repay
Companies will mostly be looking at the value of your vehicle and if you’re able to repay the loan. Part of the credit criteria is that the applicant is able to repay the loan.
Title Loans Lender Credit Criteria
Each title loans lender has his own title loans credit criteria. Make sure you understand them before signing your title loan agreement.
Figure Out How Much Your Car is Worth
So how much can I get for a title loan?
After you have found the value of your car and filled out an online application, you’ll be able to get a better idea of a concrete amount. When applying at reputable firms like 5 Star Car Title Loans, the minimum amount to borrow on a title loan is $2,600. As long as your vehicle is worth at least $2,600, you may qualify for a title loan!
Using an online service to get an estimate of your car’s value makes it easier for you to find a lender that can meet your needs
One thing to keep in mind is that you may have to take out insurance on the vehicle to receive financing. If you already have car insurance, don’t worry about it. If the car is not insured, 5 Star Car Title Loans can help you find a deal on insurance and get the ball rolling.
How Much Do You Get for a Car Title Loan with 5 Star Loans?
Apply and Find Out!
When it comes to how much can you get on a car title loan, 5 Star Car Title Loans has the answers. When you want to know how much do you get for a car title loan, fill out an application in-person or online and wait for our representatives to call you with a quote.
You can count on 5 Star Car Title Loans to qualify you for more money than you’d ever get from a bank or credit union.
How much can you get for a title loan? Start the process and find out for yourself by applying with 5 Star Car Title Loans today. Don’t be surprised if you qualify for more than you expected!