While title loans are incredibly helpful, you can not get one without proper paperwork. It is necessary to have some sort of proof related to the car before qualifying for the loan. Be it car insurance, title papers, or any other evidence, most lenders ask for it in case of authentication.
However, if you do not have a car but own another vehicle, talk to your lender to see if that is acceptable. Some title loans can be modified to fit your vehicle, bringing in market value. For instance, an alternative to a car might be a motorcycle or a truck.
- Motorcycle Title Loans
Similar to car title loans, motorcycle title loans rely on you temporarily transferring the ownership of your vehicle to the lender for a certain amount of time. That is until the loan is repaid.
- Truck Title Loans
Following the same concept, a truck title loan allows you to exchange the title of the truck for a value-based loan.
Apply for a Title Loan Online Without a Car!
If you are unable to physically head out to your nearest lender for a title loan, do not worry! You can still avail a title loan through online channels. Not only is this method convenient, but it is also easier to keep up with as long as you have all the certifications needed to authenticate your vehicle. Take a look below to see all the steps required for a quick, online title loan.
- Fill out the Form
In order to make use of an online title loan, you need to be able to locate a trustworthy lender such as Advantage Finance LLC. Next, find the application form and start filling it out. Make sure to include all the required information with as much precision as you can.
- Upload the Required Documents
Once you are done filling the form out, the next stage will entail you uploading all the documents you have authenticating the ownership of the car. This can include specific documents like a copy of your driver’s license, title of the vehicle, proof of income, etc.
- Wait for the Application to Get Approved
After you send in the application, you will have to wait for a few days to hear their reply. This is so that the lender can verify your vehicle’s ownership. However, after some days, the lender will reach out to you with a loan offer if you’re accepted or send in a rejection letter.
- Review the Offer and Terms
If you get a loan offer, do not rush anything. Take your time and go through all the terms and everything else mentioned in the letter carefully. Review the contract thoroughly so that it aligns with your ideal terms. If not, attach a sample of changes you’d like to make. However, in order to finalize everything, add your e-signature to the offer and send it back.
- Start Budgeting!
As soon as both parties have agreed upon the terms and signed on the contract, you will get a transaction of funds directly to your bank account. But rather than spending all your money, make sure to budget, plan, and spend accordingly.
All in all, you can get a title loan without a car only if you have another vehicle to work with. That is to say, a motorcycle or a truck. However, if you aren’t able to physically bring the car, you should have other forms of proof or evidence claiming the vehicle is yours. Nevertheless, to get a quick, simple, and fuss-free title loan, reach out to Advantage Finance LLC at (281) 410-5337.