Title Loans in Indianapolis, Indiana
Apply for a Title Loan with 5 Star Car Title Loans
Need fast and convenient funding to deal with your emergency bills, rent, or pay off a debt in Indiana? If yes, then apply for a title loan with 5 Star Car Title Loans.
Even if you have a bad credit score you may still get approved for a title loan in Indiana. Just apply for a title loan over the phone or online and receive cash within 24 hours after approval.2
What Are Title Loans by 5 Star Car Title Loans?
Title loans by 5 Star Car Title Loans are short-term secured loans that allow you to borrow by using your vehicle as collateral. This type of loan also goes by the name auto title loan, auto equity loan, vehicle title loan, pink slip loan, cash equity loan, or auto advance loan.
While the name might be different but they all are one and allow you to borrow up to 50 percent equity in your vehicle.1 Whether you need urgent cash to deal with medical emergencies or you are having trouble meeting month-end needs — a title loan in Indiana can be the solution.
If you have a vehicle title with your name on it, you can use it as collateral to get quick cash in Indianapolis.1 Modern vehicles are of great value so you can get a good amount of money to cover an unexpected expense.
The best part? You are only giving away the title of your car but you still get to keep your vehicle and drive it anytime you want while repaying the money. 5 Star Car Title Loans is the ‘Lien holder’ and keeps the title of the car. Once you repay the money, the title of the car will be given back to you. It is as simple as that!
How Do I Get Title Loan With 5 Star Loans?
Getting Title Loans in Indianapolis with 5 Star Loans is pretty much simple and fast.1 The application process can be done over the phone or online and can be completed in less than 5 minutes.1 We have designed the process to apply for a title loan to be convenient and easy.
The three steps to apply online for auto equity loans are:2
1. Apply for a Loan
To get a title loan, you need to begin with an inquiry form. This is easy and simple, you just need to fill out the application, and won’t take more than 5 minutes.2 You can do it online or over the phone.
2. Find Out if you are Eligible
After you have finished filling out the form, you may need to submit a few required documents. Within a few minutes, you will find out if you are eligible for a loan. A loan processor may shortly get in touch with you to discuss the loan terms and interest rate you could get.1
3. Get Your Cash
Once everything looks good, you may receive a loan contract from 5 Star Loans. You need to sign the contract and select how you want to receive the funds. After signing the contract, you may obtain the funds in as little as 24 hours.2
Car Title Loan Requirements for Indiana Residents
The first requirement for Indiana residents to be qualified for a vehicle title loan is that they need to have a car in their name with positive equity.1 In short, even if you have an older car with a few visible dents or scratches, you can still qualify for a title loan in Indiana.
In addition to that, you may also need to give proof to show your ability to repay the loan. For this, you can submit your income-proof documents such as income tax returns, bank statements, or paystubs.
Online Title Loan Process in Indiana
An online title loan is a quick and convenient way to borrow equity in your vehicle. The online title loans process allows borrowers to get their money in one business day.2 The whole process is completed online, you don’t need to step out from the comfort of your home.
Step 1- Start an Online Inquiry
You need to begin by starting an inquiry to apply for an online title loan. Fill out an online loan form to see if you are eligible for the loan.1
Step 2- Submit Your Documents
After you fill out the online inquiry form, you may need to upload a few documents. For online title loans, you don’t need to walk in to deposit your documents in person, you can submit the documents online.
Step 3- Get Your Approved Funding
After receiving approval, you may receive the cash in less than 24 hours.2 You can choose how you want to obtain the money. You can receive funds through following ways:
- Direct deposit to a bank account
- Mailed Check
- At MoneyGram
With online title loans, you can skip the in-person inspection of the car. Simply provide photos of the car and some additional information and you’re good to go. Online title loans are perfect for those who need emergency funding.
Required Documents For Online Title Loans in Indiana
To obtain an online title loan in Indiana, you need to submit a few documents to show your eligibility for the loan. The good news about online title loans is that you can simply take the photos of the documents and upload them online conveniently.
The documents required to get a car equity loan are-
Car Title- Submit a document stating you owe the vehicle as proof that you are the legal owner of the car.
Photos of the car- Skip the in-person inspection with online title loans and submit the photos of your car.
Proof of Identity- Submit a government-issued identity card. For this, you can submit documents like your password or a driver’s license.
Proof of Residence- Show the proof of your residence through utility bills, credit card documents, or mortgage statements.
Proof of Income- Submit a document stating your consistent source of income. You can show the proof of income through bank statements, tax returns, or pay stubs.
Car Title Loans In Indianapolis for Bad Credit Borrowers
Unlike other traditional loans, you don’t need to have a perfect credit score to apply for car title loans.1 Poor credit history doesn’t make you ineligible for a title loan in Indiana. However, you will undergo a credit check, but poor credit may not impact your eligibility for the loan.
The car is used as collateral which means there are minimal lending risks. As long as you prove the ability to pay back the loan, you can qualify for car title loans in Indiana.2
How Much Cash Can I Get with Indiana Title Loan?
With car equity loans by 5 Star Car Title Loans, you can borrow up to 50 percent of the value of your vehicle.1 The accurate amount of loan depends upon your needs, your car’s value, and your ability to pay back the loan.
What are the Interest Rates with Title Loans in Indiana?
When you get a car title loan by 5 Star Car Title Loans, you can enjoy competitive interest rates. The interest rate on your title loan depends upon how much you borrow, your car’s value, and the loan term.1
Do I Get to Keep Driving My Car When I Get an Online Title Loan?
Yes, you can keep driving your car when you borrow a car title loan. Just make sure you keep up with the monthly payments to avoid any problems. This is necessary because, in an auto title loan, your car is used as collateral which means a lien is put on your vehicle. However, when you pay back the loan, the lien on your car will be removed.
What are the Benefits of Car Title Loans?
There are a number of benefits that borrowers can enjoy when they get car title loans in Indiana.
- Borrowers are given the ability to repay the loan early with no pre-payment penalties.4
- There are no hidden fees, no huge payments at the end; only transparency. 4
- You can keep your car and drive it.
- You can enjoy competitive interest rates.1
Things To Know Before Applying for Car Title Loans
Title loans are perfect for those who need immediate funding to deal with some unexpected expenses. Though there are no rules to what you can use the money for, there are still a few things you must know before applying for a car title loan in Indianapolis.
- To apply for a car title loan in Indiana, you need to have equity in your vehicle.2
- A borrower needs to be at least 18 years of age to apply for a title loan.
- You must have the ability to repay the loan.
- The creditor will hold the title of your car while you pay back the loan. After the loan is completely paid off, you get the title back.
- If you fail to repay the loan, you could lose possession of your vehicle.
Frequently Asked Questions
Can I Get a Co-Borrower on my Auto Title Loan?
Yes, you can get a co-borrower on a car title loan in Indiana. However, just keep in mind that you will still need to submit documents such as proof of income, proof of residence, income proof, and other references.
How Many Car Title Loans in Indiana Can I Have?
If you own more than one vehicle, it may be possible for you to be eligible for more than one title loan in Indiana. However, a separate loan must be taken out for your second vehicle.
How Much Does it Cost to Apply For a Car Title Loan?
5 Star Car Title Loans will not charge you any fees when you apply for a title loan. There are no hidden fees as we believe in complete transparency. Our experts will explain to you everything you need to know about car title loans so that there are no surprises afterward.
I Have an Old Car. Can I Still Apply for Title Loan?
If you need immediate cash but have an older car, you may still be eligible to get a car title loan in Indiana. As long as you have sufficient equity in your car, the minor dents on it or the make and vehicle year won’t matter.
What Happens if you Fail To Make Payment on Time?
If you are unable to make payments on time, you can get in touch with us before your due date so that we can make an arrangement that is suitable for you. We may be able to extend payment to the end of the loan if you are facing some temporary financial difficulties. You can call us at (888) 309 0994 to update us about your upcoming payment.
Get Your Money in as Little as 24 Hours1
If you are an Indiana resident and need cash urgently then quickly apply for a title loan. Just fill out an inquiry form online or over the phone and get ready to receive funds in less than 24 hours after approval.2
Wait no more and apply for a car title loan today!