Utilize Your Vehicle to Access Required Funds

Your car can be your ticket to securing the additional funding you require! In New Mexico, LoanCenter utilizes your car as collateral to provide a secured loan. It’s important to note that even though you’re using your vehicle as collateral, it doesn’t mean you have to surrender your keys to get a loan. You can keep driving your car, provided you’re making regular monthly payments. Consistent and prompt payments can also contribute to enhancing your credit score.

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Understanding the Working of Title Loans

In our picturesque state of New Mexico, known for its stunning sunsets, diverse culture, and historic sites like the Bandelier National Monument, Carlsbad Caverns National Park, and the Gila Cliff Dwellings, maintaining good credit can be challenging for many residents. That’s where title loans come in handy.

These loans are a viable option for those with low credit scores, granted you own a vehicle, have a steady income, and can prove your repayment capacity.

The value of your vehicle will determine the loan amount you can borrow.

It’s used as collateral to secure the loan, giving you the freedom to continue using your vehicle while potentially improving your credit score!

What Is a Car Title Loan?

What is a Car Title Loan?

Most conventional loans follow a similar process. The lender examines your credit score, financial background, existing debts, and employment history to assess your creditworthiness. If deemed trustworthy, the lender loans you the desired sum. Car title loans, or auto title loans as they’re often called, operate slightly differently. If approved, a car title loan provides you cash to be used as you see fit1. The loan amount is mainly determined by the value of your vehicle, rather than relying entirely on your financial history.

Benefits of a LoanCenter Title Loan

Advantages of a LoanCenter Title Loan in New Mexico

At LoanCenter, we take a comprehensive approach, considering the overall financial status of our borrowers in New Mexico – a state teeming with scenic landscapes, such as the White Sands National Park, and vibrant festivals, like the Albuquerque International Balloon Fiesta. Whether your credit is robust or not, our title loans are relatively easy to qualify for since your vehicle secures the loan. Our application process is swift and straightforward, and you could quickly access your loan. We provide competitive rates for car title loans, often lower than what our competitors offer.

When times are tough or if you need some additional funds, LoanCenter, your reliable financing source in New Mexico, is here to help. Contact us today and find out how we can assist you. We aim to offer better rates than our competitors and provide you the cash you need. Let’s put your car to work for you.

Our Auto Loan Process

You may be eligible to borrow money against the equity in your car. With a car title loan, you can borrow cash by applying for a title loan. If you accept your loan offer, you will be approved for a title loan. Finding out how much you qualify for is fast, easy, and free! Find out how much you can borrow by submitting your loan application.


Get Pre-Qualified

Fill out the form or call us at (866) 553-3840


See Your Offers

Let one of our LoanCenter Loan Officers show you how much you qualify for.


Submit Docs

Submit all your documents and finalize your loan paperwork


Get Your Cash!

Receive your cash—it’s
really that easy!

Strategies for Swift Cash Approval

To expedite your approval process, ensure the loan documents related to your vehicle are accurate and all necessary documentation is submitted along with your application. Typically, you’ll be required to provide proof of identification, vehicle title, and proof of income. This information aids us in determining the maximum loan amount. Once we receive your details, one of our amiable loan officers will get in touch with you.

If you prefer to find out your eligible loan amount over a call, you can reach us toll-free at (866) 553-3840. If you are comfortable with the loan amount you are eligible for and wish to proceed with the car title loan application, our loan officer will guide you through the remaining paperwork.

Talk to a representative at LoanCenter now to find out the documents you’ll need to provide. Begin collecting these documents, so you’re prepared to submit your application. This will ensure that our team can assess your application for a car title loan promptly.

If you want to find the LoanCenter closest to you, try using our Licensed Partner Locations tool today.


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What to know more?

Here are some of the articles we’ve written to make things a little easier to understand.

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New Mexico Loan FAQs

What is a title loan in New Mexico?

A title loan in New Mexico is a short-term loan where the borrower’s vehicle title is used as collateral. The borrower must be the lien holder or own the car outright.

How do I get a title loan in New Mexico?

To get a title loan in New Mexico, you need to own a vehicle outright, have a lien-free title, government-issued ID, and proof of income. Contact a title loan lender, fill out an application form, and if approved, you exchange your car title for cash.

What are the best title loan companies in New Mexico?

Choice will vary based on individual needs and circumstances, but some reputed companies may include LoanMax, TitleMax, and New Mexico Title Loans, Inc.

Are title loans legal in New Mexico?

Yes, title loans are legal in New Mexico. However, lenders are regulated and must adhere to certain laws and regulations.

What is the maximum amount I can borrow from a title loan in New Mexico?

The maximum amount you can borrow with a title loan in New Mexico varies based on the value of your vehicle and your ability to repay. There is no legal cap on the loan amount.

What are the interest rates for title loans in New Mexico?

The state of New Mexico doesn’t cap the interest rates on title loans, so they can be quite high. Always ask the lender to disclose the interest rate before agreeing to the loan.

How quickly can I get a title loan in New Mexico?

The process usually takes 30 minutes to an hour. If you have all of your documentation ready, you may be able to receive funds the same day.

Can I get a title loan in New Mexico if I have bad credit?

Yes, title loans are often accessible to people with bad credit because they are secured by the vehicle. Lenders are more interested in the value of your car and your ability to repay the loan.

Can I keep driving my car while I have a title loan in New Mexico?

Yes, you can typically keep driving your car while repaying a title loan. The lender holds onto the title, not the vehicle itself.

What happens if I can’t repay my title loan in New Mexico?

If you can’t repay your title loan, the lender has the right to repossess and sell your vehicle.

How many title loans can I have at once in New Mexico?

You can typically only have one title loan at a time per vehicle in New Mexico.

Can I renew or roll over a title loan in New Mexico?

This will depend on the lender’s terms and conditions. Be sure to ask this question before signing the loan agreement.

Can I get a title loan online in New Mexico?

Yes, many companies offer online title loans in New Mexico.

Do I need full insurance on my car for a title loan in New Mexico?

Some lenders in New Mexico require borrowers to have full insurance on their vehicle until the loan is fully paid.

Can I pay off my title loan early in New Mexico?

Most lenders in New Mexico allow early repayment of title loans without any prepayment penalties.

Can I get a title loan in New Mexico without a clear title?

No, most lenders require a clear or lien-free title to consider your title loan application in New Mexico.

What happens to my title loan if my car gets totaled in an accident in New Mexico?

In general, you are still responsible for repaying your loan. The specifics will depend on the terms of your loan and your insurance policy.

What do I do if I lost my title and need a loan in New Mexico?

You will need to get a duplicate title from your local DMV before you can get a title loan.

Are there any alternatives to title loans in New Mexico?

Yes, alternatives to title loans include personal loans, credit card cash advances, payday loans, or borrowing from family and friends.

What are the risks of taking out a title loan in New Mexico?

The major risks of taking out a title loan include high interest rates and the potential for losing your vehicle if you can’t repay the loan. Always evaluate your ability to repay the loan on time before applying.


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.

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

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.

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.

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.

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.

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 .

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.

For more questions and answers, head to our Frequently Asked Questions page.

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