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Will I Qualify for a Car Title Loan?

Will I Qualify for a Car Title Loan?

Have you had some financial struggles recently, and you’re looking for a bit of relief?

No matter what the situation is, financial struggles happen to almost everyone, and there is nothing wrong with looking for a little relief by getting a loan. There are so many options when it comes to getting extra finances. Loans come in many shapes and sizes, and there are pros and cons to each.

While you may be looking at other options like a traditional bank loan or line of credit, a car title loan is a great short-term option for anyone who needs a little extra financial help that doesn’t want to pay off a loan for years to come. It also means you pay less interest, since you aren’t racking up interest for the months and months that you have your loan open.

Now that you know some of the many benefits of getting a title loan, you’re probably wondering if you qualify. Here’s what you need, in order to qualify for a car title loan.

How to Qualify for a Car Title Loan at Memphis’ Mid-South Title Loans

Fill out an online application.

Our online application is the first step you need to get the ball rolling on your car title loan. We ask basic information about you, your car, your job, your housing situation, and beyond, and we ask that you provide references. This will help us figure out your repayment ability, loan needs, and current financial situation.

Have a lien-free title.

A lien-free title is one that is free of debt, meaning your car is completely paid off. If you have any debt owed on your car still, you will not have a lien-free title, and you won’t qualify for a title loan.

Your lien-free title needs to be in your name and issued within 80 miles of the Mid-South Title Loans location nearest you to qualify for a car title loan at any of our Memphis Mid-South Title Loans locations.

Gather your insurance information and photo ID or driver’s license.

Besides your lien-free title, the only other documents we need for verification are your car insurance information and a photo ID or driver’s license. Both your insurance and ID need to be valid and up-to-date. Your valid photo ID or driver’s license will need to show that you are 18 years of age or older, in order to qualify for a car title loan at Mid-South Title Loans.

Your car needs to be driveable and brought over to one of our Mid-South Title Loans locations for an inspection.

The car that your lien-free title is for needs to be in driving condition. It can be wrecked, but as long as it’s driveable, you’ll qualify for a loan at Mid-South Title Loans.

After you’ve filled out your online application and gathered your insurance information, photo ID, and lien-free title, the next step is to drive your car over to Mid-South Title Loans for an inspection. When we inspect your vehicle, we’ll determine how much money we can loan you, based on what your car is currently valued at. Then, we’ll give you an offer for your loan, and you’ll be on your way with the money you need in hand.

What You Don’t Need to Qualify for a Car Title Loan

Perfect credit or any credit at all

One of the most attractive parts about getting a car title loan at Mid-South Title Loans, in comparison to other lenders, is that we don’t require any credit checks, which means that you can have less than perfect credit or no credit at all. It makes our process simple and quick, since credit and background checks take time to complete.

Extensive supporting documents

Unlike loans at banks and credit unions, we don’t ask for any supporting documents, such as pay stubs, bank statements, or housing verification. All we ask is that you fill out this online application, bring in your insurance information and your photo ID, and let us inspect your vehicle to get you a car title loan.

How to Get Started with a Car Title Loan

We’d love to help you get a car title loan as soon as possible. At any time, you can bring your car to any of our three Memphis locations to get inspected for free, so you can get an estimate how much money you qualify for in a car title loan.

When you’re ready to start the formal process to get the money you need as soon as you need it, you’ll simply need to fill out the online application, bring in your supporting documents, and let us inspect your car. We’ll then write up a title loan with the amount you qualify for.

Once we’ve offered you the amount that you qualify for, we’ll discuss the loan’s terms and conditions, which include a 30-day renewable contract that gives you the options of extending your loan’s terms, if you need more time to pay it off. Once you accept the offer and the terms and conditions, we will write you a check, in exchange for your lien-free title.

We’ll temporarily keep your car’s title, which your loan is still in repayment. As soon as it’s paid off, we’ll give you back your title promptly, along with a thanks.

Get Your Car Title Loan Today at Memphis’ Mid-South Title Loans

Getting a car title loan to get the money you need now is simple at Mid-South Title Loans’ three locations in Memphis, TN. Come by any of our Memphis Mid-South Title Loans locations for a free inspection anytime, or get started by filling out an online application now! Getting back on your feet financially can be as little as 20 minutes away, and you can be free of the financial stress you’re feeling.

Have a question or want more information? Call the location nearest you, contact us through our website, or come by a Mid-South Title Loans store today!

Proudly Serving the Memphis, Tennessee Metro Area

Mid-South Title Loans proudly provides car title loans to Tennessee’s Memphis and Shelby counties, including the cities of Germantown, West Memphis, Midtown, Cooper-Young, East Memphis, South Memphis, Parkway Village, Whitehaven, Berclair, Raleigh Bartlett, Southaven, and the surrounding areas.

 

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OUR LOCATIONS

1680 Winchester Rd
Memphis, TN 38116
Phone: (901) 346-1040

4965 Summer Ave.
Memphis, TN 38122
Phone: (901) 821-9211

2798 S. Perkins Rd.
Memphis, TN 38118
Phone: (901) 794-5460