Make Your Car Work for You
Your vehicle can help you get the cash you need!
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 score2.
How Do Title Loans Work?
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 loan3.
We use your vehicle value to determine how much money you can borrow
We use your vehicle as a form of collateral to secure the loan
You get to keep using your car and could be improving your credit score!
What Is a Car Title Loan?
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 discretion1. 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.
Benefits of a LoanCenter Title Loan
At LoanCenter, we pride ourselves on always considering the “big picture” of a borrower and attempting to offer loans to people with great credit and poor credit.
- Title loans are easier to qualify for because your vehicle is used as collateral for the loan!
- Our application process is fast and simple, and you could receive your money rapidly3
- We provide competitive rates for car title loans, usually even lower than what our competition can offer.
When life has got you down or even if you just need some extra money to spend, Loan Center is your trusted source for the financing you need! Call us today and find out how we can help. We strive to beat our competitor’s rates and get you the cash you need. Let us put your vehicle 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.
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 all your documents and finalize your loan paperwork
Get Your Cash!
Receive your cash—it’s
really that easy!
Tips for Getting Your Cash Faster
If you want to get approved quickly:
- Make sure the loan documents you provide about your vehicle are as accurate as possible.
- Make sure you submit all of the required documentation with your application
- In general, you should expect to provide proof of identification, title to your vehicle, and proof of ability to pay.
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.
It’s best to talk to a representative at LoanCenter to find out what documents you will need to submit. 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 possible4.
If you want to find the LoanCenter closest to you, try using our Licensed Partner Locations tool today.
Find an authorized partner near you
What to know more?
Here are some of the articles we’ve written to make things a little easier to understand.
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.
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 may be able to pay off your existing car title loan to lower your monthly payment and save you money.
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.
How much can I borrow?
The amount you can borrow will depend on several factors. Most important for secured installment loans is the value of your vehicle and your ability to repay. Amounts and availability vary by state. In general, loan amounts range from $2,000 to $3,500 for unsecured installment loans and from $2,000 to $30,000 for secured installment loans.
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?
You must use the money for legal purposes only. We always suggest that you use the money you borrow responsibly because you are obligated to pay it back.
How do I get my title back after I have paid off the loan?
We will release our lien on the vehicle after you have paid off your loan. The title will be returned to you in accordance with the requirements of your state’s Department of Motor Vehicles (or similar agency).
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 apply over the phone.
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.
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.