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.
Title Loans in West Virginia
Even though many American residents really work hard on their jobs most of them don’t have emergency funds for sudden troubles and they are compelled to look for an option to borrow money.
And usually applying for a traditional bank loan is their first idea, most people don’t have the required credit score to be deemed eligible by their routine credit checks. Hence all they get is wasted time and energy with disappointment.
However, there are some easy cash advance loans where people of West Virginia can apply online and receive fast money to deal with their sudden financial needs.
5 Star Car Title Loans in West Virginia offer an easier, faster, and more convenient way to apply for extra funding and get the money without going through harsh credit checks.
Let’s learn how these online car title loans work and how you take their help in times of need.
Car Title Loans: What Are They?
Used by many American residents, these secured loans allow the borrowers to get capital by offering their car title as collateral.1
When a customer asks for a title loan, the loan agent assesses their income and vehicle and if their car qualifies, a lien is placed on the title, and in exchange, funds are sent into their bank account within 24 hours.2
The advantage of getting these cash loans is that the consumers can obtain the money they require and keep driving their car while repaying the monthly installments of the loan.
And once the personal loan is fully repaid, the lender removes himself from the lien and the borrower gets a clear title back to their name.1
Here are some other popular names lenders and borrowers refer to their car title loans in West Virginia State:
- Auto Equity Loans
- Pink Slip Loans
- Auto Collateral Loans
- Vehicle Title Loans
What Do I Need To Be Approved For Auto Title Loans, West Virginia?
To be eligible and qualify for a car title loan, online applicants need to check off some pre-requisites and fall in a category that satisfies the below conditions:
Particulars To Qualify For A West Virginia Title Loan
- Prospects must keep a clean and lien-free title of the vehicle they are using to get the loan.
- To apply they need to present a West-Virginia or government-issued ID(such as a driver’s license or passport) to their respective lender.
- Applicants need to demonstrate that they can afford the loan and for that show proof of a dependable earning source.
- Applicants must be 18 years old or above to be eligible for a car title loan.
What Documents Are Needed To Qualify For West Virginia Title Loans?
Typically when you approach the lenders to apply for a pink slip loan, they check your eligibility and then ask for certain documents to verify your credentials and attach with your loan application.1
Here is the list of documents that can help you to get your application processed with most lenders in West Virginia:
One of the main things about car title loans is of course the title you are using. Make sure it’s clean and lien-free and registered in your name.
Proof Of Income
Use your pay stubs, bank statements, income tax statements, etc. to show that you can repay the loan on time and you’ll face no hiccups when getting a title pawn.
Proof of West Virginia Residency
While applying for a title loan in the cities of West Virginia, locals need to have documents confirming their address in the state. Now, it can be a lease agreement, property tax receipt, or even a credit card bill.
As a US citizen, you should also be able to provide cemented proof of your identification. It can be done by presenting your driver’s license or passport to the title loan lenders.
Photos of the Car
To get money from these cash loans, online applicants need to send in the latest photographs of their vehicle (including VIN and odometer reading) which will be used to determine the market value and the minimum loan amount they can get.
Can I Get a Vehicle Title Loan With Bad Credit?
Yes, you can apply and even get approved for a car title loan without having perfect credit!1
Even though credit history is like the big key without which you cannot get any funds in many loans. Title loans are a bit different.
These personal loans focus more on the person’s car and his ability to repay the loan on time. Likewise, even if a person has just faced an economic crisis and has below-average credit, they can still get qualified by satisfying certain other conditions.1
Even though applicants might have to go through a routine credit check. Those who can present a qualifying vehicle and demonstrate a strong ability for timely installments won’t have to worry about their credit history.
Can I Get a Title Loan If My Vehicle Does Not Have a Lien-Free Title?
Title loans require applicants to have a lien-free title for smooth loan approval.1 It means you can’t use it as collateral for another loan. However, if there is an existing lien of a third party, you cannot qualify for the title loan in West Virginia.
In that case, you may want to opt for the following options:
- You can pay off the remaining loan amount early to make the title lien-free and then apply for a title loan.
- You can look for refinancing your existing car title loan by other title loan lenders.
- If you still owe money on your car and only 1-2 installments are left, some lenders may allow applicants to take a title loan.
Thus, if you want to explore your title loan borrowing option, give us a call at (888) 309 0994 for a consultation.
What Are Auto Title Loans Based On?
Pink slip loans are well-known for having relaxed eligibility criteria where people can get online instant cash without any complications. However, there are certain factors that when kept in mind can help you to get more money and get your loan faster. Check the 3 major ones:
- Ability To Repay
- Car’ Market Value
- Equity in the Car
While your income guarantees that you’ll repay on time and your car’s market value decide how much you can get for the loan. Things such as interest rates and minimum loan amounts are affected by certain other factors such as the make and model of the car, brand of the car, car’s current condition and car equity, etc.
So if you want to get access to more money for your personal loans, make sure you present proof of dependable income and a well-maintained car while applying.1
Will My Car Be Taken From Me?
No, when you get a title loan, you can keep driving wherever you want!1
A title loan is a kind of collateral loan which is secured against your car title and decided by your income source. When you approach lenders for a title pawn, you won’t be asked to submit your vehicle to get the money you want.
For applicants who connect with 5 Star Car Title Loans, the only scenario when your car might be taken from them is when they are defaulting on the loan payments straight for a long time and without any explanation.
But, as long as you are paying the timely installments, you won’t have to worry about your car being taken from you.4
Can I Get Online Title Loans in West Virginia Without a Job?
5 Star Car Title Loans understands that many of us face crises now and then, not every time there’s a job to cover for us.
Like if a person who has recently suffered from an injury and is temporarily unemployed or he is a retired person who got any kind of big expense that his pension can’t pay off on its own.
These people can apply for a title loan by presenting their award letters, SSI, or compensation letters and get approved even without a 9-5 job.1
Others who make their income from alternate sources can show their bank statements or tax returns and get approved for an auto title loan in West Virginia.1
Benefits Of Choosing 5-Star Car Title Loans In West Virginia
West Virginia Residents who are going through some bad times and peeking for a way out to support their pockets and get by the month can contact the team of 5 Star Car Title Loans and take benefit of these customer-friendly services:
- Loans For Below Average Credit1
- Flexible Repayment Plans
- Transparent Loan Application Process
- Competitive Interest Rates1
- No Vehicle Requisition
Reach Out Today and Get Extra Money To Pay Your Bills!
Expenses in America never stay the same, some months can be fun and others can be hard. While it’s great to enjoy the good ones, drowning in can be avoided by following some simple steps.
So the next time you are planning something big and your pocket seem thin, you can contact our team and take our help to get some emergency cash.