People take out personal loans for a number of reasons. Some people borrow money to consolidate their existing debt, whereas others need money to cover unexpected expenses related to home repairs, car accidents, medical emergencies, or other major events.
If you need to borrow money, regardless of the reason, it’s important to explore all of your options. Traditional personal loans aren’t right for everyone, especially those who need money as quickly as possible. If you’re in this situation, you may want to consider applying for cheap title loans instead.
Unlike traditional personal loans, cheap title loans are secured by collateral. If you apply for a cheap title loan, you must use the title to your vehicle as collateral. You won’t lose access to your vehicle, but your lender will either hold onto the title or put a lien on it until your loan has been paid off.
If this is your first time taking out a cheap title loan, you may have a lot of questions about how they work. Here’s everything you need to know about cheap title loans:
Who is Eligible for Cheap Title Loans?
The first thing you may want to know is whether you are even eligible for a title loan. You may be eligible for a title loan if you meet the following conditions:
- You are at least 18 years old.
- You own or partially own a vehicle.
- You are willing to consent to a credit check.
- You have a reliable source of income.
- You have equity in your vehicle.
Eligibility requirements may vary depending on the title loan company. If you’re thinking about applying for a title loan, contact your lender to find out if you meet their specific requirements.

What Will You Need to Apply for Cheap Title Loans?
If you meet the eligibility requirements, you might be wondering what you will need to have on hand in order to apply for a title loan. Again, these requirements can vary depending on the title loan company. In general, though, be prepared to submit these documents during the application process:
- Driver’s license or another form of government-issued ID
- The title to your vehicle
- Proof of income (examples include recent pay stubs, bank statements, or tax returns)
- Proof of residence (examples include recent utility bills, a lease agreement, or your driver’s license)
- Proof of auto insurance
Be sure to check with your lender to find out what they accept as proof of income, proof of residence, and proof of auto insurance. If you can’t find the title to your vehicle, let your loan officer know. They can help you obtain a new copy from the Department of Motor Vehicles so you can complete your application.
How Can You Get A Title Loan Without A Job?
Being unemployed can make it difficult to qualify for many types of loans. If you’re unemployed, you may wonder whether this will impact your eligibility for a title loan.
You must have a reliable source of income to qualify for a title loan, but this does not mean that you need to have a job. Your income can come from various other sources, including disability benefits, rental properties, alimony, or veterans’ benefits. You must be able to show proof of this income to the title loan company when you apply for a title loan.
As long as you can provide proof of another reliable source of income, you may still qualify for a title loan even if you are unemployed.
Can You Use Your Car As Collateral If It’s Not Paid Off?
The next question you may want to ask is whether you can still qualify for a title loan if your vehicle isn’t paid off yet. The answer to this question varies on a case-by-case basis.
You must have equity in your vehicle to qualify for a title loan. This means if you owe more on your vehicle than it is worth, you cannot use it as collateral to secure a title loan.
If you have equity in your vehicle, you may qualify for a title loan even if you are still making payments on it. Your eligibility will depend on several factors, including how much you still owe on the vehicle. Title loan companies typically will allow you to borrow money if you only have a few payments left on your vehicle.

How Much Can You Borrow Through Cheap Title Loans?
Title loan amounts can range from $2,510 to $50,000. The title loan company will consider a number of factors when determining how much you can borrow, including:
- Your income: Your lender will evaluate your income to determine how much you can afford to repay. This will impact how much you are approved to borrow.
- Your vehicle’s value: Because your vehicle is used as collateral, you cannot borrow more than it is worth. Your lender will calculate your vehicle’s value based on its make, model, year, condition, trim level, and mileage. To calculate your vehicle’s value, your lender may need to inspect your vehicle in person. Some lenders may allow you to submit photos of your vehicle instead of bringing it in for an inspection.
- Your equity: Your equity is equal to your vehicle’s resale value minus the amount you still owe on it. Title loan companies typically allow you to borrow up to a certain percentage of the value of your equity.
- Local laws: Some states have passed laws that establish minimum and maximum title loan values. Title loan companies must comply with these laws. If you live in a state that has this type of law, this could impact how much you are able to borrow through a title loan.
It only takes a few minutes to find out how much you might be able to borrow if you apply for a title loan. Just contact your title loan company and ask for a free quote to get the answer you need.

How to Apply for Cheap Title Loans
Now you should have a basic understanding of how cheap title loans work and whether they’re right for you. If you’re ready to get the cash you need, follow these steps to apply for a cheap title loan from LoanCenter:
- Get in touch with our loan officers. You can either call 1-866-553-3840 to speak to a loan officer directly or submit your information using the form on our website. If you submit your information, a loan officer will reach out to you to start the process as soon as possible.
- Get a free quote. Your loan officer will need some information about your vehicle to prepare your free quote. Be prepared to provide your vehicle’s make, model, year, mileage, and condition. Once your quote is ready, review it with your loan officer to find out how much you can borrow and at what interest rate.
- Complete your loan application. If you’re satisfied with your quote, complete your application by signing and submitting the required documentation. Your loan officer will be available to ensure you know what needs to be done to complete this step.
- Get your cash. Your money will be available shortly after your application is processed and approved. Then, you can pick it up in person or have it sent to you via check or wire transfer.
Contact us today to start your title loan application.