Apply For Online Car Title Loans In Kansas
At Highway Title Loans, we offer fast access to title loans in Kansas, and you can qualify for up to $25,000 based primarily on the value of your vehicle. Unlike a personal loan, you don't need excellent credit to get approved, and there's a decent chance of getting your cash within 24 hours or less when you apply online.
A title loan uses the equity in your car as collateral, and applicants can borrow 40% to 65% of the vehicle's resale value. Let's dive into what's required for these secured loans, the benefits and risks, and whether or not it makes sense to apply online or go with a direct lender in Kansas!
Requirements For Car Title Loans In KS
To get approved for a title loan in Kansas, you'll need a clear title to your vehicle with no liens or outstanding loans against it. You may also need proof of full vehicle insurance coverage and verification of current employment through bank statements, employment records, or pay stubs. Some lenders will also want proof of valid tags and registration from the Kansas Division Of Vehicles, and you should expect an inspection requirement if you're looking to borrow more than $1,000. When a lender requires an inspection, you need to meet with them in person so they can verify that your vehicle exists and has no significant mechanical or visual damage. They'll also confirm the odometer reading and VIN during this inspection.
Once you send over all the docs, we will begin processing and underwriting your loan offer and get you a same day estimate from a local title loan company in Kansas. It's that easy, and you'd be surprised how fast we can get your loan processed and underwritten when applying online. Compare this time frame versus the 3-10 days it can take for a personal loan, and you'll see why many borrowers in Kansas turn to car title loans when they need cash fast!
The Benefits Of Getting A Vehicle Title Loan In Kansas
One benefit of working with Highway Title Loans is that you can apply online or in person and have the money you need within 24 hours! There's no need to wait weeks for a personal loan lender to check your documents, verify credit, and contact references. With a title loan, you primarily need proof of vehicle ownership, which doesn't take long to verify!
Another benefit is that auto title loans are secured by your vehicle, so there's less risk for a lender, and they can offer a larger loan amount. Funding amounts vary in different parts of the state, but ultimately, you should expect a lender to offer 35-60% of the car's value. In other words, a vehicle with a resale value in Wichita of $4,000 will probably net you a title loan in the $2,000. Cars with lower mileage in excellent condition may bring in a higher loan-to-value amount, with some companies offering up to 85% of the vehicle's value. But generally, you won't be able to borrow anywhere near the full resale value of the vehicle.
The Risks Of Getting An Online Title Loan In Kansas
At Highway Title Loans, we understand that financial issues come up, and sometimes, the risks of getting a title loan online outweigh the benefits. These risks include your vehicle being repossessed because of a lack of payment. Even falling a month behind on the payments can lead to your lender taking the vehicle. Other risks with a car title loan involve the high interest rates. Even though title loans may have an APR that's lower than short term loans such as payday loans, the rates can be quite high and some title loan companies in Kansas have interest rates in the triple digits!
Car Title Loans In Wichita, KS, With Bad Credit
If you have bad credit, you might think that title loans are out of the question, but at Highway Title Loans, we work with borrowers of all credit types. Your vehicle's title secures the funding amount, so there's far less risk for a lender, and they can offer more flexible terms for customers with low FICO scores. Don't hesitate to apply online for a bad credit title loan! You'll be surprised to see how easy it is to qualify, even with a low credit score!
Get A Direct Title Loan With A Company in KS Or Apply Online
It doesn't matter how you apply; Highway Title Loans will approve you online or over the phone in a few hours. Some people would rather get started with a neighborhood lender offering car title loans in Kansas, while others have no trouble getting cash from an online company.
While it's up to you how to apply for a title loan, there's still a good chance you'll need to have the vehicle inspected, so this step needs to be done in person. The vehicle inspection can sometimes occur at your home or office but primarily at any licensee inspection office in cities such as Wichita, Topeka, or Overland Park. This last step takes less than 30 minutes; once it's complete, you can have your cash in hand!
Apply Now For With Highway Title Loans
So don't wait any longer; apply for a title loan in Kansas today! Highway Title Loans can take your application online or over the phone at 877-433-5454. It should only take about 10 minutes to fill out the form and answer any subsequent questions about the vehicle!