In recent years, surveys have shown that nearly 90% of Americans own a car. If you fall into this category, you might be able to take advantage of it the next time you need to borrow money. People who own cars are eligible to take out what are called title loans. All they have to do is fill out a simple title loan application and they can get their hands on the cash that they need.
Does this sound like something you might be interested in? If so, you’ll want to learn about the things you’re going to need when applying for title loans. It’ll be good to have them handy when completing title loan paperwork.
Check out what you’ll need to be prepared to include when going through an online loan application for a title loan below.
OK, so this might seem pretty obvious, but you’re going to kick things off by putting your name on a title loan application. This is going to let a title loan company know who is applying for title loans.
One thing that you’re going to want to keep in mind here is that the name you include should match the name on your driver’s license. If you’re approved for a title loan, a lender is going to ask for your driver’s license before giving you the loan. And if the name you gave them originally isn’t the name on your driver’s license, it could complicate things for a little while.
The Year Your Car Was Made
In order to come up with loan terms and conditions for a title loan, a title loan company is going to need to try to estimate how much your car is worth. The first thing they’ll need to do this is the year that your car was made.
More often than not, people know when their car was made right off the top of their heads. But if you don’t know what year your car was produced for some reason, it’s easy enough to find out.
The VIN number on your car is going to reveal what year your car is. It’s going to be important for you to double-check to make sure that you include the right year from the start.
The Make and Model of Your Car
In addition to including the year that your car was made on your title loan application, you’re also going to need to provide a title loan company with the make and model of your vehicle. This information is going to go a long way towards determining the price of your car.
Just like with the year of your car, it’s going to be imperative that you get the make and model of it right on your title loan application. If you happen to put down the wrong model, it could affect the terms of your title loan and throw off your loan payment options.
The Amount of Money You Would Like to Borrow
There are some title loan companies that aren’t going to ask you how much money you want to borrow from them. They’ll simply provide you with a number that indicates how much they would be willing to lend you if you want to borrow some cash fast.
But there are also some title loan companies that will want to know how much money you want to borrow from them. They’ll factor how much money you’re asking for into the equation when deciding if they want to give you a title loan.
You should crunch the numbers to see how much money you’d like to borrow prior to filling out a title loan application. It might be something that you’re going to need to include.
Your Contact Information
Once a title loan company has combed through your title loan application, they’re going to reach out to you to let you know if they’re going to be able to lend you money. To do this, they’ll need to know the best ways to reach you.
You should include both a phone number and an email address so that a title loan company doesn’t have any issues contacting you later on. The last thing you want to do is put down the wrong phone number or email address and have your loan request delayed because of it.
What You Won’t Need to Include in a Title Loan Application
Now that you know what you need to include in a title loan application, we want to talk about a few things that you won’t have to worry about including. You aren’t going to need to include:
- Your income
- A copy of your credit report
- Contact info for your employer
This is one of the best parts about applying for a title loan on a website like georgiatitleloans.com. The mere fact that you own a car is going to be enough for them to give you a loan. You aren’t going to have to jump through any other hoops to convince them that they should lend money to you.
Fill Out a Title Loan Application and Get Approved Fast
People have come to love title loans because of how easy it is to apply for them. You can fill out a title loan application in a matter of just minutes and find out if you got approved for it fast.
The only thing you need to remember while doing it is that you’re going to have to include each of the things listed here. You can make the loan application process go so much smoother than it would otherwise by checking to see that these things are included prior to submitting a title loan application.
Want to discover more about how to apply for other types of loans? Do it by reading through the other informative articles that we have posted on our blog.