Car Title Loans Explained: How To Use Your Vehicle For Quick Cash

If you're wondering how to get a car title loan for quick cash, Mississippi Title Loans, Inc. can help. Our title loans allow you to borrow between $300 and $2,500, depending on the value of your vehicle. They're short-term loans designed for emergencies like home repairs, secondary vehicle repairs, medical bills, veterinary fees, and similar expenses.

In the following sections, we will walk you through all the details about using your vehicle for quick cash with us at Mississippi Title Loans, Inc. We will explain how to get car title loans near me and the requirements you need to meet to get approved.

What Is A Title Loan?

Car title loans are secured loans that let you borrow money based on the value of your vehicle. You can get approved for Mississippi title loans if you have fully paid off your car and have a lien-free car title. Before applying, you must pay off any liens, debts, or judgments, so we can place a lien on your car title.

Borrowers can receive up to $2,500 for car title loans. How much you can borrow depends on your car’s value, which we determine by its age, make, model, condition, and mileage.

The Three Eligibility Requirements For Car Title Loans

Unlike traditional loan types, you don't to meet lots of requirements to gain access to car title loans. However, there are still a few requirements you must meet to get approved for emergency cash. Thankfully, you will only need three items to gain title loan approval today.

The following are the three required items for title loans in Mississippi: 

1. State-Issued Identification

You must prove your identity and age to get approved for a vehicle title loan. Mississippi law dictates that you can only borrow a personal loan when you are over the age of 18. Getting a title loan with us requires a photo ID that verifies your identity and age.

We accept all primary forms of identification, including passports, driver's licenses, military service member ID cards, and student ID cards. Whatever you decide to use, you must ensure it clearly displays your full legal name, date of birth, and portrait photograph. 

2. Lien-Free Vehicle Title

Your vehicle title must be lien-free, as this proves you own the car outright without any outstanding liens or judgments. If you don't have a lien-free title to your car, you will need to repay any outstanding liens before attempting to get a quick car loan for cash. We place a lien on your title to secure the loan, but we can't do that when you already have one in place.

Keep in mind that your name must match across both documents. If they don't, we won't be able to process your request.

Thankfully, it's relatively easy to change the owner of your vehicle. You just need to go to the Department of Motor Vehicles to get a title transfer. You will just need to sign a few forms, present a few documents, and pay a small fee.

3. Vehicle For Inspection

While we don't require a good credit score, we still use something to establish how much you can borrow, and that's your vehicle. Its value will determine how much you can borrow. The more it's worth, the more you can borrow.

We use a variety of factors to assess your car's value, but these are the most important variables to be aware of:

• Make and model — Some makes and models are worth more than others. If you own a high-end car, like a Porsche, BMW, or Land Rover, you will likely qualify for a higher loan amount, as your vehicle will be worth more than run-of-the-mill makes and models.
• Age — Since vehicles lose up to 60% of their value in their first five years of life, the older your car, the less it's worth. However, this does not apply to vintage or antique cars.
• Mileage — Average mileage is considered 10,000 to 12,000 miles per year. If your car fits into this category, you won't have to worry about the mileage affecting your vehicle's value. High mileage is considered anything above 12,000 miles per year, which will negatively impact your vehicle's worth.
• Condition — Wear and tear, alongside mechanical or cosmetic issues, can significantly lower the value. If you want to get the most bang for your buck, your best bet is to fix any issues before trying to get a title loan from us. Although, you don't want to make any repairs you can't afford.
• Modifications — Naturally, you love the modifications you've applied to your vehicle (e.g., custom paint jobs, decals, exhausts). However, others may fail to see their value. Therefore, any customizations can reduce your car's value.
• Market demand — Ultimately, your vehicle is only worth how much someone is willing to pay for it. If there isn't a decent market value, your car won't sell for as much. Thus, you won't be able to borrow as much with a car title loan.

How To Get A Car Title Loan For Quick Cash

As long as you have the items mentioned above, you will have a great chance of getting approved for Mississippi title loans. We do not have income or credit score requirements, so you can get approved with your lien-free title.

Our title loan approval process only takes a few easy steps. You can start today online and get approved in person in less than 30 minutes.

The following is how to get a car title loan for quick cash:

1. Complete the form — Complete the form found on this website with your name, contact information, zip code, and vehicle details. Make sure you select the right loan option, as we also offer payday loans and signature installment loans. This way, we can process your information as quickly as possible, helping you fund emergencies effortlessly.
2. Talk to us over the phone — Once we receive your information, we will give you a call to discuss the process, ensure you can meet the requirements, answer your questions, and clear up any concerns.
3. Meet in person — After the phone call, we will meet to conduct the face-to-face part of the process. We ask first-time borrowers to bring their required items to the nearest Mississippi location. Get car title loans near me at one of our stores in Columbus, Gulfport, Jackson, etc.
4. Consider the loan amount — We will analyze your documents and inspect your vehicle to establish if you can qualify for a title loan. If you do qualify, we will let you know how much you qualify for. As previously mentioned, the specific amount depends on the value of your car but will always land within the $300 to $2,500 range. If you're happy with our offer, you'll move on to the final stages of the simple process.
5. Sign the paperwork — We will show you how to complete the paperwork. This involves signing it to confirm you agree with the terms and conditions written in the contract.
6. Receive your money — Last but certainly not least, you'll receive the money you need on the same or the following business day.

Despite popular belief, you won't waste hours following these steps. We've streamlined our process over the years to ensure you can complete it as quickly and seamlessly as possible. Get approved for car title loans in Mississippi the same day you apply.

Get Car Title Loans From Mississippi Title Loans, Inc. – Borrow Up To $2,500 Today!

Are you looking for car title loans near me? Mississippi Title Loans, Inc. can help with our simple approval process. With our streamlined, efficient process, you can get approved in just a few easy steps. You can get same-day approval for title loans and receive your funds in less than one business day. Contact us for assistance by filling out our online loan form or calling us to discuss the process.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.