These loans are generally short term loans and can carry a higher interest rate than other types of loans. The reason is because since you are using your car as collateral for the loan, some lenders do not need to do a credit check on you. As long as you hold a clear title to your car (or truck or SUV) and the wholesale value is at least $4,000, you should be able to get a loan.

One of the many benefits of a title loan is that while you have pledged the car as collateral for the loan, you are allowed to still keep the car and use it while making payments. Compare that to using say a pawn shop where you would have to surrender your car and be with out it. Also since this is a secured loan, your interest rate will lower than an unsecured loan, plus you may have as long as 36 months to pay it off. All while still driving and enjoying your car.

Often times you don’t even have to drive to the office to obtain a loan. Some firms can do it all online or by phone as long as you provide the proper documentation (I’ll discuss that later in this article.

Even if you have bad credit you can still be approved for car title loans as long as you have a job (in fact some lenders will accept disability payments as income) and own your car.

Here is all you need to obtain a loan:

-Clear car title—your title must show it free and clear of any loans on it.
-A valid drivers license
-Social security card
-Proof of auto insurance
-In some cases a recent pay stub

It’s that simple.

So here it is, if you have a job and own your car you will be able to get a quick and easy loan on your car. You can usually get a loan in under an hour (some offer in 15 minutes). That’s much faster then going to a bank and the rates are less than personal loans.

If you need cash quickly to help you get over some recent unexpected bills, or thinking about the holidays coming up, now is the time to get a car title loan and getthe money you deserve.