LoanCenter Car Title Loans

How Do Car Title Loans Work?

Most loans work in the same way. A lender looks at your credit score, financial history, outstanding debts, and employment record to determine if you would be a good credit risk as a borrower. If you pass the approval process, the lender will loan you the money for a specific purpose.

Car title loans, also known as auto title loans, work a little bit differently. If approved, a car title loan gives you the cash to be spent at your discretion.1 Your vehicle value is one of the main factors that determines how much money you can borrow, rather than solely reviewing and relying on your financial history as a prospective borrower.

Inforgraphic about How Car Title Loans Work

At LoanCenter, we use your car as a form of collateral to secure the loan. Even though your car is used as collateral, this doesn’t mean you will have to hand us the keys in order to obtain a loan. As long as you make your payments every month, you get to keep using your car. Plus, making on-time payments can also help you improve your credit bureau score.2

Because credit isn’t the only requirement in determining eligibility, this is a great option for borrowers with low credit scores. As long as you own a vehicle, have proof of income, and can prove you have the ability to repay, you may qualify for a car title loan.3

At LoanCenter, we pride ourselves on always considering the “big picture” of a borrower and attempt to offer loans to people with great credit and poor credit.

How Do I Get a Car Title Loan Online with LoanCenter?

If your car is paid off, 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. The loan application process is simple:

  • Fill out the online form at the top right of this website
  • Talk to a LoanCenter Loan Officer
  • Finalize your loan paperwork
  • Receive your cash!3

Make sure the loan documents you provide about your vehicle are as accurate as possible. This will help us determine the maximum amount you can borrow. Once we receive your information, one of our friendly loan officers will contact you. If you would rather find out how much you qualify for over the phone, you can call us toll-free at (866) 553-3840. Either way, we are here to help you! If you are satisfied with the loan amount you can borrow and want to move forward with the car title loan application, your loan officer will help you complete the rest of the required paperwork.

If you want to get approved quickly, make sure you submit all of the required documentation with your application. It’s best to talk to a representative at LoanCenter to find out what documents you will need to submit. 

In general, you should expect to provide proof of identification, title to your vehicle, and proof of ability to pay. Start to gather these documents now so you are ready to submit your application. This will ensure that our team can review and make a credit decision your application for a car title loan as quickly as possible.4

Fill out the online application at the top of this page and find out if you pre-qualify for a quick cash loan today. Or find a LoanCenter location near you and you can get started.

Benefits of an Online Car Title Loan through LoanCenter:

There are many benefits to obtaining a car title loan through LoanCenter rather than obtaining a traditional auto loan . Our application process is fast and simple, and you could receive your money quickly, given you provide all documentation necessary2.

When you do receive your funds, we won’t ask how you plan on spending your money. Instead, all we ask is that the money be spent on legal purchases only.

While some lenders may charge additional fees for paying off your loan early, LoanCenter does not have penalties for paying your loan off early. In fact, paying your loan off early can actually reduce the amount of interest you owe and save you money.

1Funds received must be used for legal purposes only.

2We 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.

3Loan approval is subject to meeting the lender’s credit criteria, which include demonstration of ability to repay the loan. Not all applications will be approved.

4Funding time is based on the time from final approval following receipt and review of all required documents and signing, prior to 3PM PST on a business day.