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Frequently Asked Questions

Loan Requirements

Can I make extra payments?

Yes, extra payments will help reduce the amount of interest you pay. The faster you pay, the lower your interest charges.

What can I do with the money I borrow?

Anything you want. There are no restrictions on how you use your money. We always suggest that you use the money you borrow responsibly because you are obligated to pay it back.

What is a car title loan?

A car title loan is a personal loan that is secured by the borrower’s vehicle. The loan amount is based upon the vehicle’s value and the borrower’s ability to repay, making your credit score a less important factor. The borrower gets to keep driving the car while the loan is outstanding.

Do I need to be currently employed?

No, but we do need to know that you have the ability to make payments. This means you need some sort of income that you can prove. We do allow co-signers on the loan if necessary.

What do I need in order to get approved for a car title loan?

The amount you are approved for will depend on several factors, including:

  • Your Car’s Value
  • State Laws
  • Your Income
  • Type of Vehicle

Can you help if I already have a title loan with another company?

Yes. We offer some of the most competitive rates and flexible payment terms in the industry. We can often pay off your existing car title loan to lower your monthly payment and save you money.

Does my car need to be paid off?

No. Many people who have a few payments left on their car loan still qualify. Best of all, we offer some of the most competitive rates and flexible payment terms in the industry. We can often payoff your existing car title loan to lower your monthly payment and save you money.

What do I do after I submit my information for pre-qualification?

After you become pre-qualified, we suggest you browse through our vehicle listing pages to find the perfect vehicle that fits your financing needs. Each vehicle listed on the site will show whether you are pre-qualified and if so, will show your calculated interest rate and monthly payment. Once you find a vehicle, you can further customize your down payment and term length options to see the effect on your monthly payment.

Once you are satisfied with your financing, you can print out a voucher by pressing "Save this offer" or continue with the buying process.

How much does my car have to be worth?

In general, the car needs to be worth more than the amount of money you borrow. It takes only a few minutes to find out how much you can borrow, and there is no charge and no obligation to find out.

What do I do after I choose my vehicle?

After you find a vehicle that fits your financing needs, we suggest you do the following:

Print the voucher by pressing "Save this offer" and take it with you to the dealership. This will allow the dealer to find your deal and, as long as your information hasn't significantly changed from what you entered, then your approval can match your pre-qualification. From there, you can work on the remaining paperwork and bring your car home!

What do I do after I choose my vehicle?

After you find a vehicle that fits your financing needs, we suggest you do the following:

Print the voucher by pressing "Save this offer" and take it with you to the dealership. This will allow the dealer to find your deal and, as long as your information hasn't significantly changed from what you entered, then your approval can match your pre-qualification. From there, you can work on the remaining paperwork and bring your car home!

How can a car title loan help my credit? Do you report to the credit bureaus?

We report to the major credit reporting agencies. A good payment history with us may help raise your credit score and make it easier for you to borrow money in the future.

Can I get a car title loan if someone else’s name is on the title with mine?

Yes. We can offer a loan if more than one name is on the vehicle’s title.

Who backs Wilshire Consumer Credit?

Wilshire Consumer Credit is financially backed by Westlake Financial Services, a leader in indirect automotive finance. Westlake has over 25 years of experience and operates nationwide. To learn more about Westlake Financial, go to www.WestlakeFinancial.com.

Can I get a car title loan if I cannot find the title to my car?

Yes. We may offer a loan if you have lost or misplaced the vehicle’s title.

Are you a licensed lender?

Yes. We are fully licensed or registered and in good standing in every state in which we lend.

What happens to my car?

You get to keep possession of your vehicle during the term of your loan as long as you make timely payments, so there’s no problem going about your everyday activities.

Do I get to drive my car while the loan is outstanding?

Absolutely! One of the benefits of a car title loan is that you can keep driving your car while the loan is outstanding.

Can I get pre-qualified for an auto loan with bad credit?

Absolutely! Here are LoanCenter, we help pre-qualify people for financing across all credit situations.

What is the cost of my credit going to be?

The interest rates vary depending on the state of residency of the borrower, creditworthiness, collateral, and the terms agreed to. The annual interest rates vary between 34.99% and 157.99%. For a typical loan of $4,000 with an 80% annual percentage rate and a 24-month term, the monthly payment is $338.61, the total scheduled interest is $4,126.87, and the total of payments is $8,126.64. The interest on the loan may vary depending upon the timing of the payments made.

For Utah residents only please click here to see our Utah Fee Schedule.

For Missouri residents only please click here to see our Missouri Fee Schedule .

How long have you been in business?

We have been in business since 2001 and have helped tens of thousands ofcustomers get cash when they needed it most. We have offered some of the most competitive rates and flexible payment terms in the industry for nearly 20 years.

I’m not comfortable providing my social security number online. What should I do?

Since our application is secure (www.thawte.com), you should not be concerned about any information you enter on your application. However, we understand that some people may be uncomfortable providing sensitive information on the web. If you do not wish to provide this information online, simply call us at (800) 227-8485 to submit an application over the phone.

Is there a penalty to pay my loan early?

No. There is no penalty to pay your loan early. In fact, paying your loan in full early will reduce the interest charged on your loan.

Is it possible to have a co-signer on my car title loan?

Yes. You can have a co-signer on your car title loan. The co-signer will need to sign a credit application and provide identification, proof of residence, and proof of income. We keep all non-public personal data private and will not let the borrower see the co-signer’s data and vice versa.

Who backs Wilshire Consumer Credit?

Wilshire Consumer Credit is financially backed by Westlake Financial Services, a leader in indirect automotive finance. Westlake has over 25 years of experience and operates nationwide. To learn more about Westlake Financial, go to www.WestlakeFinancial.com.

What is the cost of my credit going to be?

The interest rates vary depending on the state of residency of the borrower, creditworthiness, collateral, and the terms agreed to. The annual interest rates vary between 34.99% and 157.99%. For a typical loan of $4,000 with an 80% annual percentage rate and a 24-month term, the monthly payment is $338.61, the total scheduled interest is $4,126.87, and the total of payments is $8,126.64. The interest on the loan may vary depending upon the timing of the payments made.

www.loancenter.com/utah-disclosures-and-fee-schedule/