If you are a resident of Delaware and are in a financial bind, you can check out the information below regarding car title loans. Auto title loans in Delaware are a quick way to get your hands on instant cash that you can use for anything you need. Without any hidden fees, strings attached or hidden terms, you can sign a car title loan agreement and get money quickly.
These loans use your car title as loan collateral, so even if you don’t have a perfect credit score, you might still be approved for a title loan. WIth the title as security, your credit score and credit history is less important.
There are a few things that go into a lending decision, and of course one of them is the value of your vehicle. Besides owning a car, you need to have a clear title in your own name. If it isn’t registered in Delaware, you can make a quick trip to the DMV and ask them to update your registration.
They can also help you with the name on the title, if it isn’t your name. You can’t use a title for security if your name isn’t written as the owner, but you can ask the DMV for help. Call us if you have any questions about this..
After you sign the loan agreement, you will submit your car’s title for safekeeping until you’ve paid back the loan. This is how title loans work, and why you can get them even with a poor credit score. So long as you make your payments according to the contract, you will get your title back clean and clear! So send in your request today, get a loan offer, receive your money and keep driving your car! It’s as easy as that!
What’s the Difference Between Title Loans and Personal Loans in Delaware?
Personal loans is a broad term that can be used for nearly any type of loan an individual wants to get. If you want a loan to pay for a car, to buy a product, to cover your financial needs or any other reason, you could call it a personal loan. These are usually unsecured loans in Delaware, where you would need a decent credit score to be approved. Title loans, on the other hand, are different because they are secured loans. Anytime you can secure a loan by using an asset that you own as collateral, it is easier to be approved.
Instead of taking a risk that a borrower won’t repay the money, the lender has the title to fall back on. That means that if you give up your car title to get a loan, but you don’t repay the loan, you’re at risk of losing ownership of your vehicle. No one wants that, so it’s an incentive to make the payments on time and according to the agreement.
With personal loans from a traditional lender, you might be asked why you need the money or what you will use it for. They might even restrict the way you spend the loan money when you get it. That is not the case with secured loans in Delaware. You can use the money for anything you want, without restrictions.
If a title loan sounds good to you and would help you manage your current financial situation, reach out to us today with your online inquiry form! We’re here to help you as quickly as possible.
Do I Have to Own My Car to Use it for a Title Loan?
In general the answer is yes, you must own your car. Your car must be listed on the car’s title as its legal owner. However, if you haven’t finished making your final payments yet, we might be able to help you. If you are very close to being finished with your car loan, but you need cash today, contact us for help.
If you own the car but the title was never transferred to your name, this must be done before considering how to use it for loan security. It can be a simple task that doesn’t take long when you go to the Department of Motor Vehicles. You will be required to show some documentation proving who you are and that you own the car. In addition, there may be a fee involved.
Look at your vehicle’s title now to be sure that it is listed correctly. If there is another name on it, such as that of your spouse, speak to our office about how to arrange it to be used as collateral. There can’t be the names of loan companies or liens against the auto.
Do you have questions about how to prepare your title to be used as security? In some cases, you can fill out the necessary forms online without going to the DMV at all! We’re happy to help you and lead you in the right direction. Contact us today!
How Do I Know if My Auto Can Be Used as Loan Security in Delaware?
Auto title loans are an easy and quick way to get the funds you need for any type of financial emergency. Whether it’s an urgent home repair, bills that are due or a sudden medical expense, it doesn’t matter. We are here to help you get a loan that uses your car’s title – not to tell you how to spend your money! If you have a car that is registered to you, you are welcome to send us your online inquiry form for a fast title loan today. Below is more information on using your title as loan security.
To make a short list of how your eligibility for a car title loan is evaluated, it goes like this:
Adequate equity or value in the car that you own.
A high enough income to enable you to make timely, monthly payments.
Meeting our online credit criteria.
Those are the basics, but we can break it down a little more. The value of your car has many aspects to it, including something as basic as its general condition. If it has been involved in accidents, if the body work has rusted or is dented or if the interior upholstery is damaged or dirty, the value will be less. Even if you have a high-priced automobile, its appearance and how it has been maintained will influence its present street value.
When the actual value of your car is determined, these are the facts that we consider:
The style and model, including the manufacturer.
The production year.
How many miles it’s been driven.
Your car’s general condition.
You may be asked for photos of your car, both inside and out, or for an inspection as well. When your inquiry form is received, you might get further instructions so that we can adequately evaluate your car’s worth.
How Can I Get Started on My Title Loan Quickly?
There are only a few stages to go through until your loan contract is finalized and your money is prepared. Depending on when you request an online loan, you could even get the cash in as little as one business day. The steps go quickly, and if you have the appropriate documentation prepared, it will go even faster. Bear in mind that if you don’t have access to our online inquiry form or need help at any stage, you can give our 5 Star Car Title loans in Delaware office a call.
Taking the steps to quick title loans:
If you have a smartphone, tablet or laptop with internet access, go to the 5 Star Car Title Loans website to fill in the inquiry form. It will take less than 10 minutes, so you can really do it any time, day or night. If you don’t have internet or a digital device, you are welcome to call one of our agents, who can help you with the request form by phone.
Send along any supporting documents that will help with a lending decision. They will be evaluated and if your request is pre-approved, you will get a loan offer. Take all the time you need to review the offer and make a decision if you want to accept the cash.
After signing the title loan offer, you will be asked to submit the title to your vehicle before accepting the cash. Your agent will then be able to finish the details on your loan contract and preparation of your cash. If you’re not sure of the payment amount, the monthly due date or the length of the loan term, these questions can be discussed with your agent.
Get started on your quick, secured loan now and use the cash for anything you need!
My Title Loan Was Approved and the Cash is Ready but How Do I Get It?
It’s really great that your online request for a title loan was accepted! When you get the money, you can use it in any way that will relieve some of your financial pressure! You can discuss the options for picking up the money with your lender, but the following are the most typical options:
We can send you a check in the mail.
You can request a direct deposit to your account.
The cash can be retrieved at one of the MoneyGram locations in Delaware.
If you need to find a more suitable option for your situation, you can settle it with your loan agent.
What Are the Requirements When I Request Title Loans in Delaware?
When you send us your online request for a bad credit loan, there are a few general documents that will be expected. You don’t need to do anything complicated, because these are typical items that you will have easy access to. Along with this basic list, the lender might ask for something in addition, to make an accurate evaluation of your situation.
Simple title loan requirements:
You must own a car that has good value, or equity built up.
Your age must be more than 18 years old.
A photo ID issued by the government – like a driver’s license, Delaware state ID or a valid passport.
Information regarding your bank account, including the bank’s name and your account number.
For communication purposes, we’ll want your email address.
A current vehicle title with your legal name, registered in the state of Delaware.
Total listing of all your monthly income, with proof to back it up.
Your current address in Delaware.
After sending those items in with your inquiry form, you will be contacted for more information or with a lending decision. From the time you send in everything requested until you have the cash in your pocket, it could be within 24 hours!2
Contact us now or at any time through our online inquiry form.
I Need Money Urgently But Do I Have to Give up My Car?
One of the benefits our customers love about getting quick loans from 5 Star Car Title Loans in Delaware is that throughout the entire loan process, from beginning to end, they get to keep their cars. We require the car’s title to be in our possession, but not your car. You can keep it to use for school, work, errands, trips or whatever else you normally use it for, without limitation. Our requirement is that while you are paying back the title loan, the title will be left with us. Make all your payments according to the loan contract that you sign and then we will make sure the title is returned to you.
Title loans are the convenient and fast way to go when you own a vehicle and need quick cash. Let your car help you out when you’re in a difficult financial situation!
At 5 Star Car Title Loans, we are here to serve you. Reach out to us for any financial need you are having and let’s see how we can work together! Get your cash quickly when you contact us with your request for an online title loan!