We are currently not providing car title loan services in this state. The information brought here is meant to explain in general terms what auto title loans are. You can still submit a loan request for installment loans with us.
Title Loans in New Jersey
When you are out of cash, and unexpected expenses arrive while your next paycheck is far, it can be challenging to manage your financial condition. In that case, you may need to borrow money.
Typically, one turns to the credit union, traditional bank loan, or borrows from friends and family. However, when you need funding immediately, you may not have time to go through a lengthy loan process.
Moreover, if you have bad credit scores, it may become difficult to borrow from financial institutions such as banks or credit unions. And, if your friends and family cannot help either, it might be your only option to borrow from third-party lenders.
5 Star Car Title Loans provides quick and easy bad credit loans1 that can help support you when you encounter a cash crunch. We specialize in offering short-term financing solutions for applicants with any type of credit history.1
What is a Car Title Loan?
Also known as pink slip loans, auto title loans, auto equity loans, or vehicle title loans, these are short-term loans, usually granted by independent third-party lenders.
These are given based on your car’s value regardless of your credit score1. Thus, these are considered bad credit loans. It means the lenders will have a lien on the car title temporarily as security, but you can keep your car and drive it as you need.
Car title loans come in handy when you have run out of borrowing options. They are known for their streamlined and fast loan processing and approval. In addition, you can receive the funds within 24 hours of getting the final approval.2
How Does the Title Lending Process Work?
The title lending process at 5 Star Car Title Loans is pretty simple and straightforward. You don’t have to visit our branch to apply. You can easily apply online and get a quick loan when you need urgent funds.2 Simply follow the below steps:
1. Submit an Online Application
You can submit your online loan application via our website and start the loan process in just a few minutes.2
2. Submit All the Necessary Documents
Our team will evaluate your documents, let you know your loan eligibility, and provide an accurate estimate of how much cash you can get.1
3. Get Fast Cash
After the document verification, you will be given a final loan approval1. You will need to express written consent by signing the loan agreement. We will ensure that the funds are paid quickly within 24 hours2 so you can easily manage your finances.
What Documents are Required for Applying?
You don’t need to submit hefty paperwork for loan approval from 5 Star Car Title Loans. You only need to submit a few key documents, including:
- A Clear/Lien-free Vehicle Title
- Car insurance and registration
- A Government-issued ID
- Proof Of Income
- Residence Proof
- Valid references
How Much Cash Can I Get with a Car Title Loan in New Jersey?
As per the car title loans legal laws in different states, the requirements for application, loan amount, and title loan interest rates may vary. Most lenders typically offer a loan amount of up to 25% to 75% of the value of your vehicle.
However, you can get a loan amount of up to 75% of your car’s market value at 5 Star Car Title Loans. So, when you have unavoidable expenses that require a significant sum of cash within a short span1, you can rely on our team for hassle-free immediate financial assistance.
Factors to evaluate your car’s worth
Our team evaluates your vehicle’s worth based on the following factors:
- Car make, model, and vehicle year
- Car’s functionality and overall condition
- Any recent repairs and car maintenance
- Vehicle’s VIN (Vehicle Identification Number)
- Odometer Reading (Mileage)
- Photos of the vehicle (for the online inspection)
- Car Modifications & Unique Features (if any)
A well-maintained and functional car with a model that is highly in demand can help you get your desired loan at a competitive interest rate. However, an old car may not be worth much, leading to a low price and a lower loan amount.
If you are interested in knowing how much cash you can borrow, apply online for a quick assessment and get an estimate today! Call us at (888) 309 0994 to schedule a consultation.
Can You Get a Title Loan on a Financed Car?
If your car already has an auto loan or any other loan then you need to check your state laws regarding title loans since many states don’t allow individuals to get two loans on a car at once. In that case, you can apply for the second loan once the first one has been paid off.
However, you may be able to refinance your car loan from another lender. Or get a title loan if only a few payments are left on your old car. So, if you want to know your loan eligibility, schedule a consultation with our experts today!
What If I Have Bad Credit? Can I Still Get Title Loans in New Jersey?
Yes, even if your credit score is not perfect and your credit history is bad, you can still qualify for the bad credit loans1 from 5 Star Car Title Loans for your personal use.
At 5 Star Car Title Loans, we consider your ability to pay and several other factors to provide loan approval.4 Thus, if you have a qualifying vehicle, car title in your name, and a stable income source, apply for a hassle-free personal loan today!2
Where Can I Use the Money from New Jersey Car Title Loans?
You can use the money from an auto title loan to cover a wide range of unexpected small and big expenses, such as the following:
- Medical bills
- Rent or other household expenses
- Emergency home repairs
- Funding for a spontaneous vacation
- For special events such as weddings, engagement parties, etc.
- Small commercial business expenses
- Any other personal use
Except for gambling or any other illegal expenses, you can use the money from the title loan for any type of personal household purpose.1
The loan approval process at 5 Star Car Title Loans is very quick, and you can avail the funds at a short notice2. Thus, when you have exhausted your borrowing options, schedule a consultation with our loan officers for expert assistance!
What other Income Proof Can I Submit If I Don’t have a Job?
Submitting income proof is crucial for getting your online title loan approval1. However, if you are in between jobs, you can submit income from any alternative sources, such as the following:
- Unemployment insurance benefits
- Workers compensation
- Social Security Disability benefits
- Regular payments as an annuity or retirement fund
- Gross median monthly rent from any rental property you own
- Income from a business owned under your name
- Income from alternative sources.
As long as you have any type of stable income proof and fulfill the minimum requirements, you can get loan approval easily.2 Thus, when you want to get a bad credit loan, don’t hesitate to schedule a free consultation with our team.
Benefits Of Choosing 5-Star Car Title Loans
Whether you have a poor credit history or need funding in 1-2 business days, 5 Star Car Title Loans has got you covered. Our bad credit loans are designed to help you out with a short-term loan that can fulfill your monetary requirements without much delay
Here are the top advantages customers can enjoy when choosing 5-Star Car Title Loans:
- Quick and Streamlined Application Process2
- Competitive Interest Rates
- Loan approval with bad or poor credit1
- Flexible Repayment Plans4
- No Pre-Payment Penalties4
Do You Need Extra Cash to Handle Your Emergency Bills?
Handling financial emergencies on your limited earnings can be challenging at times. Thus, when you feel stressed out and need an alternative for fast cash, bad credit loans from 5 Star Car Title Loans can help.1
We provide various title loan services to carry you through a wide range of financial emergencies. Currently, we don’t provide title loan services in New Jersey, but you can consult with our team for other short-term personal loans with poor credit.1
So, if you need emergency funding at competitive rates, contact our team at (888) 309 0994 for expert assistance today!