Who Is Eligible For A Brookhaven Title Loan?

When it comes to borrowing, knowing exactly how you can be the right candidate for a Brookhaven title loan is essential knowledge to have. Thankfully, we’ve got all the information you need to apply and succeed in getting title loans in Brookhaven, MS. 

Anyone with a valid government-issued ID, a lien-free vehicle title, and your car for inspection can find out if they are eligible for a Brookhaven title loan. Of course, approval is subject to a case-by-case examination, but if you stick to these three essential guidelines, you’ll be much more likely to get approved.

Now that you understand exactly who’s eligible for a title loan, let’s talk about each of these requirements, how they’re important, and how you can put your best foot forward when you apply.

What Do I Need To Be Eligible For A Brookhaven Title Loan?

In order to understand exactly what you need for title loans in Brookhaven, MS, let’s first review what a title loan is. A title loan is secured, meaning that you need to put up collateral (in this case, your car title) to protect the interests of the loan. Doing so is an important part of the loan, and with it come some additional requirements. 

First, as with any loan, you’ll need to provide a form of ID. You’ll also need to demonstrate that your car title is lien-free and present your car for a brief inspection at a location of your choosing.

Identification

The first marker of an eligible applicant is a suitable ID. In order for your ID to be acceptable for this type of loan, it will need to have your legal name and photo and be issued by a government body.

The majority of applicants use their driver’s license to apply for title loans in Brookhaven, MS, and it’s what we recommend if you have it. If not, there are still options such as a non-driver’s license, passport, military ID, or student ID. All of these are acceptable to fulfill this requirement.

Lien-Free Title

Another extremely important factor to determine if you are eligible is that you have no liens on your car title. Liens are issued by individuals, companies, or governments to prove legal ownership of an asset until the indebted person pays what they have agreed.

Title loan lenders like us rely on liens to ensure that there are legal ramifications to not paying the loan, incentivizing the borrower to pay what they have agreed to pay.

Of course, we here at Mississippi Title Loans, Inc. will lay all of these terms out upfront for you before asking you to sign anything. We believe that borrowers should always be informed before making important financial decisions, and that’s especially true with regard to getting a Brookhaven title loan.

When there’s a lien on your car's title, you can continue to drive it as you would normally; just make sure you keep to the loan repayment schedule as agreed in your contract.

Your Car Itself

Because your car is serving as collateral for the loan, it’s important for us to see it to determine its value and issue a loan amount accordingly. That’s done via a brief inspection by one of our licensed, trusted loan representatives.

When you book an appointment, bring your car, and they’ll go over it to see how much you qualify for. Your car’s age, make, model, condition, and mileage all factor into a nationally recognized pricing scale.

With Mississippi Title Loans, Inc., you can obtain as much as $2,500 on a loan for your emergencies, but the amount you qualify for will largely be dependent on the value of the car you’re putting up as collateral. 

How Can I Apply?

Now that you know exactly what makes you eligible for a title loan, let’s talk about what you need to do to apply. Simply follow these easy steps:

1. Go online to complete the basic request form. This lets us know that you’re interested in applying and gets us acquainted with you.
2. When you finish the form, one of our associates will call you sometime after to schedule a meeting. You can set this up at a store nearby or at a location you choose.
3. Bring along your important items (ID, lien-free title, and car) to the meeting, and the associate will inspect them.
4. If everything checks out, you may be eligible for a loan and get your money as early as that same day or the next business day.

Get Your Loan Today!

All lenders are on the lookout for applicants that meet their standard of eligibility. Thankfully, even if you have bad credit or no credit history at all, Mississippi Title Loans, Inc. may still be able to help you.

Life emergencies can come out of the blue, and if you know exactly what you need to qualify, you’ll have a better chance of getting approved. If a title loan sounds right to you, consider applying today!

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