Should I Get A Secured Loan With My Car Title?

Those who experience a sudden financial emergency know how difficult it can be to find your way back to financial peace of mind. No matter your income or how much you have in savings, a financial emergency can hurt your bank account. One option to consider is secured loans with vehicle equity, also known as a title loan.

In this article, we'll discuss why this type of loan may be right for you — and how you can use it to get financial relief today.

What Are Car Title Secured Loans?

Car title loans are loans designed as short-term relief for temporary, but pressing financial emergencies. Such emergencies include last-minute travel, home or vehicle repairs, or emergency room visits — all of which come with steep price tags and typically come out of nowhere.

With this type of secured loan, you use your vehicle title as loan collateral in exchange for money. Don’t worry though, when you apply for a title loan through a lender like Mississippi Title Loans, Inc., you get to keep your car and drive it as usual for the duration of a loan. 

With just a few simple requirements you can qualify for a title loan between $300 and $2,500 in as little as 30 minutes – based on your vehicle’s value and condition. The value of your vehicle is determined with a quick inspection during the in-person portion of the loan process.

Getting A Secured Loan Using Car Title For Collateral

One big plus of getting a title loan through Mississippi Title Loans, Inc. is there are very few requirements to qualify. In addition to being at least 18 years old, all you need is the following to get through our simple process:

• A driver’s license or another form of state-issued ID proving your identity 
• Your vehicle for a quick inspection to determine your car’s worth and how much you may qualify to borrow
• The lien-free title to your vehicle to use as collateral to secure the loan and prove car ownership

If your car’s title is not in your name, you must visit a Mississippi DMV office to have it transferred into your name before applying for a title loan. You must also confirm that your title is free of any outstanding liens or judgments before you submit your loan request.

You Don’t Need A Checking Account Or Good Credit For A Vehicle Title Loan

Unlike other types of loans, you do not need a checking account to qualify for a secured loan with your car title — or submit proof of income, such as a pay stub. 

For many lenders, your credit score is the deciding factor for loan approval, but with a title loan, the vehicle title being used as collateral is used to secure the loan. 

At Mississippi Title Loans, Inc. we are committed to helping borrowers who need a title loan get one. That is why we welcome all types of credit, good, bad, or non-existent to apply.

Additionally, we do not report the loan to credit agencies. Your personal information is kept confidential according to our strict privacy policy. That means you don’t have to worry about this loan affecting your credit.

The Loan Process Is Easy To Follow

We want to make the title loan process as easy as we can for our customers. That’s why we offer both title loans and online title loans so you have the option to choose one that best fits your needs. They are similar in their processes, as you can begin both from home with our online inquiry form, but one is completed in-store and one at a location convenient to you, such as your home or office. 

To get started, you can fill out the quick title loan form on our website, give us a call, or even visit one of our locations near you. If you start online, you’ll send over some basic personal information, including your name, email address, phone number, and zip code, as well as some information about your vehicle.

Soon after you submit the form, one of our friendly loan representatives from the Mississippi Title Loans, Inc. store location closest to you will give you a call. They will chat with you about the required items needed to qualify and answer any questions you may have about the process.

If you opt for a traditional title loan, you just need to gather the required materials and drive to the Mississippi Title Loans, Inc. nearest you to continue the loan process. For an online title loan, one of our representatives will meet you at the location of your choice, including your home or workplace.

Either way, your required items will be reviewed, a quick vehicle inspection will be performed, and you will see how much of a title loan you qualify for. If you agree to the terms and conditions, you will receive your cash as soon as that same day or the following business day. It's that simple!

Get Started On Your Title Loan With Mississippi Title Loans, Inc.

The next time you experience a financial emergency, you do not need to handle it alone. Use Mississippi Title Loans, Inc. to get title loan help now.

If you’re thinking about getting a secured loan using car title for collateral, all you need to do to get started is go online, give us a call, or visit one of our locations. We look forward to helping you 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.