Car Title Loans in Virginia
According to Virginia law, the residents who own private vehicles are eligible for car title loans. These are a type of personal loan that are easier to get because they require loan security. When you offer something you own of value to secure a title loan, qualified borrowers are able to get fast cash that they can use for any emergency or financial crisis they are going through. By providing acceptable property, you can get access to a fast cash loan.
In the instance of auto title loans in Virginia, the item that you use for security is your car. If you have a motorcycle or a truck with a valid vehicle title, those could also be considered collateral for a fast title loan.
To get the details of how title loans in Virginia work and how you can apply, read below or contact one of our customer service representatives at 5 Star Car Title Loans in Virginia. We will be happy to help anytime!
How Can I Get a Title Loan in Virginia?
Title loans are online loans that you can easily apply for by using your computer, tablet or smartphone. You do not have to leave your home and arrive at any office, you don’t have to worry if the office is open or not when you begin the application process and you don’t have to schedule an appointment to get online title loans.
With online title loans, there are no time restrictions as to when you can send us your request form! Any time you need some emergency cash for any reason, check out your cash options with us at 5 Star Car Title Loans!
We are here to help with any need you have for fast cash. If you own your own vehicle, have a valid vehicle title, can prove your ability to pay and you meet our simple credit criteria, you could be on your way to cash today!
The entire approval process goes quickly, so that you will know right away if your online title loan request is approved. If you are pre approved and you continue with the title loan process, you could get money for your urgent needs in only one business day!
Prepare your basic documents and get started now, no matter what time it is! We will get right on your request so we can give you a fast lending decision.
How Do Virginia Title Loans Work?
Car title loans are a type of title loan that uses the value of a vehicle you own as collateral for a fast cash loan. That makes it much easier and quicker to get emergency cash for any urgent needs that you have. Whatever your needs for money are today, you can send us your online request for a title loan and get quick access to cash.
The way you begin with the title loan approval process is by sending in your online inquiry form. You can do this anytime, because the submission form is always available, 24/7, on our 5 Star Car Title Loans website.
We will be glad to hear from you and prepare a lending decision at any time. If you own a qualifying vehicle that has a high amount of unused equity, send us your request and we will begin our quick evaluation process.
If you are pre approved for a car title loan in Virginia, we will be glad to provide you with a loan agreement to sign. If you want to go ahead with the title loan according to the loan agreement, just add your signature and send it back to us. That will give us the go ahead to continue with the final approval process and finish preparing your emergency cash. In some cases, the money can be ready within one business day!
While we are completing your loan proceeds, you will be expected to send your vehicle’s title to us for safekeeping while you are making the monthly payments. This is how we can use your car’s value without taking your car! With the vehicle’s title in our office, it will serve as loan security.
When you finish making all the monthly payments on the loan balance according to the contract that you sign, we’ll gladly return your vehicle’s title to you, clear and free! Contact us now for more details regarding your need for a fast title loan.
When Can I Apply for a Title Loan in Virginia?
Many people ask when they can send in their request for title loan services in Virginia. The easy answer is, any time! If you are in a hard financial spot now, you don’t need to wait for any thing or any one to get started on your title loan application. When you get title loan approval, you can get money and use it to cover your urgent expenses.
Here’s how to get started on the title loan approval process:
- Whenever you can spare a few minutes, go to the 5 Star Car Title Loans website to locate the easy inquiry form. Complete the form by filling in the blanks with the appropriate answers, to the best of your ability. When you’re finished, hit the submit button and we’ll take it from there!
- Our customer service team will immediately begin processing your application and performing the approval process. Our hassle free approval process goes very quickly. We will begin by checking the value of the auto that you own, according to the information you provided us with. If your specific car is a qualifying vehicle, has enough value to be used as loan security and you have proven ownership with a valid vehicle title, we will confirm that your income is adequate. Using the proof of income that you wrote in your request form, we’ll verify that you have the ability to make the monthly payments that are required with title loans.
The last stage of the approval process is determining that you meet our basic credit criteria. At the end of this step, we will be able to provide you with our lending decision.
- The final step in getting your cash is to sign a loan agreement. If you receive notification of loan approval, you will also get a loan agreement. This loan document will have your loan amount clearly written. There are no hidden charges to worry about. If you are satisfied with the loan amount and agree to the terms of the agreement sign it and return it to our office.
Prepare your car title so you can send it to us and collateral and we’ll let you know when and where to get your loan proceeds. That is the end of the title loan process!
Remember that it doesn’t matter where you are or what time of the night or day it is. If you need cash now, reach out to us with your online request form – we’ll be glad to help!
How Much Cash Can I Get with a Title Loan?
This is a common question asked by many residents of Virginia. It makes sense that if you are going to spend 10 minutes filling in a request form that you will want to know how much money you will be able to get!
It’s not possible to give you an answer to your loan amount until we go over the type of car you own, your ability to pay and meeting our credit criteria. When you send in your online inquiry form, we will have the necessary details of your request to give you an answer.
If you are approved for a title loan, we’ll send you an initial loan agreement so that you can see the terms of the title loan, the interest rate and the loan amount. Sign it, return it to us and your cash will be on its way to you!
What Do I Need to Do to be Pre Approved for a Title Loan?
When we review your title loan request, there are 3 basic items that we need to check off. If you meet each of those 3 requirements, you could be instantly pre approved for a car title loan.
These are the basic requirements for approval of a car title loan in Virginia:
- The unused equity in your vehicle needs to be adequate and you must provide a legal car title in your name.
- According to the list of income that you provide, we need to be able to verify it and it must be high enough so you will be able to make the monthly payments.
- The final step in the approval process is using our simple and flexible credit criteria to evaluate your present situation.
When those 3 steps are complete, you will receive a decision regarding your loan approval and your final loan amount.
Are There Any Required Documents for Title Loans?
When you’re ready to contact 5 Star Car Title Loans with your title loan request, there are a few basic documents to prepare. If you can look around your house, in your wallet, in your car or in your PC ahead of time to have the required documents ready, your inquiry process will go quickly and smoothly.
Here are the main title loan requirements and documents to prepare a title loans lending decision:
A government ID with your photo: For this requirement, you can send us a copy of your Virginia driver’s license, your Virginia issued state ID or a valid passport.
Your vehicle’s title: Check your title closely to be sure that it has your legal name correctly listed as the vehicle’s owner, that it is registered in the state of Virginia and that everything is spelled correctly. If your name is not on the title, it cannot be used as loan security. To transfer the title to your name or to ask for a replacement title if yours has been lost or stolen, you can go to the Department of Motor Vehicles for assistance.
Complete list of all your monthly income: This is where you write your salary, any government assistance you get or income such as insurance payouts, social security deposits or child support payments. Send us supporting documents for your income so that we can verify it all. Consider sending us your pay stubs, your bank statements or other government documents that confirm your monthly income.
Your Virginia address and email account: You can prove your address by sending us a credit card statement, a utility bill, your rental contract or some piece of mail that your name and correct Virginia address is listed.
An active bank account: Include the bank’s name and your name and account number.
When we receive all of these details, we can quickly verify your personal information and get back to you with your loan eligibility. You can send us these documents anytime you are ready to request your title loan in Virginia.
Where Do I Send My Title Loan Payment?
When you have your cash and 30 days have passed since your final loan approval, you will be required to send in the first of your monthly payments. We make it easy for you by giving you several simple options.
Payment methods for title loans:
- Send a check to a participating money transfer location
- Make a direct deposit from your bank account to ours
- Go to a participating MoneyGram location to send the cash
- If paying by telephone is your preferred option, call us and a customer service representative will gladly help you make your payment, using your credit card
If these options are not convenient or readily available in your location, speak to your loan agent about alternative methods of payment.
Can Bad Credit Applicants be Qualified Borrowers?
Many Virginia residents need fast cash for urgent expenses, but not everyone has a perfect credit history! The good news is that at 5 Star Car Title Loans, we accept title loan requests from all credit types. No matter what your credit history is like, you are invited to send us your car title loan request today!
Short term loans is one of the traditional loan options, but if going through a bank or loan office, you would have a very hard time requesting help if you have a less than perfect credit history. The more traditional loan options are not usually available for bad credit users. In fact, if they do accept an application for your request for a short term loan, it would be very complicated with a lot of red tape and documentation.
When you need emergency cash with a poor credit history, don’t think twice about sending us your inquiry form. With title loans that are secured by your vehicle’s title, you will have an easier time being approved. Besides that, it is also a simple process due to our flexible approval process. We use simple credit criteria and we might be able to give you final approval today!
Don’t worry about your credit score – send us your request for our title loan services today!
Do I Need My Own Bank Account for Title Loans?
We suggest that if you don’t have a personal bank account that you open one. If you cannot open a bank account for some reason, you can speak to your loan agent about other options.
In general, the title loan process is easier and smoother when you have a bank account for the following reasons:
- We can put your loan amount into your account, giving you the fastest access possible to your cash.
- You can make electronic monthly payments automatically through your bank account, eliminating the possibility of forgetting to send in your payment on the due date or the time it takes to mail a check.
- You will have bank statements we can use to verify your monthly income.
Your online lender might have other options for making payments.
Can I Keep My Car When I Get a Car Title Loan?
To secure your car title loan, we will use your vehicle’s equity. To do this, we won’t keep your car while you’re managing the repayment process, but we will request your vehicle’s title. For us to keep your title as security, it must be a valid Virginia title with your name on it. In other words, you must be the vehicle’s owner. This will be your loan collateral.
While you are making your loan payment each month, we will retain possession of the vehicle’s title. When the monthly payments have all been made and your loan balance is zero, you can get your vehicle’s title returned to you, free and clear.
Your vehicle, whether it’s a motorcycle, truck or car, will stay with you during the repayment process. You can feel free to drive it anywhere you want to go, just as you do now. There is no requirement to give up your car so long as you are making your monthly payment as required.
If you have more questions about your vehicle’s equity or your ownership, reach out to your title loan lender today!
Let’s Begin Your Title Loan in Virginia Today!
If you need emergency funding for any unexpected expense, let us hear from you today! Send us your online request so you can get the auto title loan you need for instant cash relief!
Call us now or send us your online request!