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How Do I Know if My Title Is “Free and Clear”?

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You Can Use a Car Title to Obtain Funding Online!

Many people in the market for a car may look for one that is pre-used. Sometimes a lightly driven vehicle can offer a better deal than buying a brand-new one. While a used car can be a more affordable option, there can be concerns about unpaid loans or liens on someone else’s vehicle. 

It’s essential to ensure the car you’re purchasing has a “free and clear” title. This term means that the vehicle is not indebted to a creditor or has any issues that could jeopardize the new owner. 

You can only determine if your title is “free and clear” by conducting a title search by a professional title company or attorney. A title search will reveal any liens or burdens attached to the property’s title.

If you have a car with a free and clear title, you can inquire about title loans! Applying for title loans can be quick and convenient for people who need money in a pinch. Begin your inquiry today by filling out this pre-approval form or calling to speak with a title loan representative. 

What Is a Car Title, and How Can I Transfer One to My Name?

A car title is a legal document that shows the registered owner of a vehicle and is also known as a Certificate of Title. When a car is sold, its title must be transferred to the new owner. Transferring a car title typically involves filling out paperwork, paying fees, and obtaining the previous owner’s signature. However, these criteria can vary depending on which state you’re living in!

You will need to obtain one if you’re interested in applying for a car title loan but still need to get a vehicle title in your name. You can transfer a car title by visiting the DMV in your state and bringing in the required documents. For a car title transfer, you will need the following:

  • Proof of Identity, Like a Driver’s License or Passport
  • Proof of Car Ownership, Like the Bill of Sale 
  • Proof of Insurance Coverage
  • Application for the Car Title Filled Out

A fee may be associated with the car title application, which can range anywhere from $50 to $150.

How Can I Use My Car Title to Access Cash Quickly?

You can access cash quickly through an online title loan if you meet the initial requirements and submit the necessary paperwork. Through car title loans, you can borrow money based on the equity in your car. If you obtain approval for this option, lenders will place a lien on the vehicle title during repayment and remove it afterward. The car is collateral for the funding, making this a secured loan option. 

Traditional bank loans do not rely on a collateral-based system. Instead, they look at a person’s credit history to determine approval for funding. Unpaid bills can result in a poor credit score, which may indicate to lenders that you are financially irresponsible.

Title loan lenders will run a credit check during your application process, but other factors have their focus. Lenders care more about how much equity is in your vehicle and if you have consistent income proof, which can affect your approval and possible loan amount!

Equity in a vehicle is the difference between its market value and what you owe to a dealership or bank. Your title loan amount could be 25-50% of this number, so it’s crucial to figure it out beforehand! In most cases, it’s best to ensure your vehicle is paid off or close to being paid off before applying for a title loan. 

As part of a title loan inquiry, lenders require proof of income to verify the borrower’s ability to repay the loan. This requirement is also a federal law to protect consumers from predatory lending practices, so it’s a good thing!

Apply for an Online Title Loan With a Free and Clear Car Title Today

If you’re struggling with your financial situation, asking friends or family for help can be uncomfortable. Only some have good enough credit to obtain a traditional bank loan, and life is filled with unexpected expenses.

You can use a “free and clear” car title in your name to access money quickly through a title loan! The application process can be quick and convenient, making this an excellent option for people from all walks of life. 

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