Is It Possible To Get A Title Loan Online With The Title In Hand

Customers always ask us if they can get a title loan even if they don’t have the vehicle’s pink slip. Keep in mind, were talking about the car’s title that shows you as the vehicle’s owner, not the vehicle itself or the registration documents. Most applicants understand they need to transfer ownership of the vehicle to the lender to add them as a lienholder. But there are some instances where you don’t need the car’s title in your possession to get cash

Of course, there may be a situation where you don’t don’t have the car’s title or you list the pink slip. You may have misplaced the ownership documents or perhaps the pink slip has a cosigner. What can you do to get a new pink slip? Some states offer fast services to replace a lost or missing vehicle title, and you should take advantage of them so you have a primary source of collateral when you apply.


Title Loan Without Car’s Title – How Is It Possible

If you apply with a company that wants to hold your vehicle as collateral, you should call them out and ask why you need a title loan without the title in hand. If they say it’s standard protocol then you should take action. We can tell you that most lenders in the US will be fine with only the vehicle pink slip. We know of some services that may have specific situations where they want to keep your vehicle. These may include some pawn shops that treat your car like an item you pawned in their store. Others will claim to need to hold the car if it’s an expensive or high-dollar loan, but these situations are unique.

In any situation, you should look into different options if you apply for an online car title loan. Be cautious if the lender says they have to hold your vehicle as collateral. Apply with a lender that’s receptive to different types of collateral you can use as security for the loan. It’s likely you will come across a more reputable company that has no problem giving you a loan in exchange for the title.


Collateral Title Loans Without The Actual Vehicle Title

We can think of many reasons why it’s not a good idea for a company to hold your car as collateral. The biggest reason is that you cannot get to work or handle your errands. Who wants to offer cash to someone who needs their car to get back and forth to work? A person would likely go on to lose their job or take out an online loan but have to give up the daily use of the car. Another risk you run if you hand over the car is what happens if the company goes bankrupt or the vehicle disappears. This won’t happen if you’re dealing with a large nationwide car title loan lender. But none of those larger companies would ask for the car as collateral in the first place.


It’s Possible To Get An Online Title Loan Without The Car Title As Collateral

Save yourself the headache of worrying about the status of your car after taking out a pink slip loan. Don’t stress if a lender asks you to hand over the vehicle instead of a standard pink slip. Simply contact one of the other many companies offering same day title loans. Most lenders will only require that you show sufficient vehicle equity as collateral for a loan. Nearly all newer cars with low mileage and minimal wear and tear will qualify with no issues.

Even if you don’t have the car’s title or any other proof of ownership, you can still get a certified copy in less than a day from your neighborhood DMV location. The lenders asking for your actual car as collateral are typically title pawn companies and not on the same level as an equity lender. Most won’t hesitate to offer financing based on the title loan value of your car even without the pink slip!

Another option is finding a company that offers collateral loans on older vehicles or commercial vehicles. Lenders that offer these types of classic car title loans have more flexibility on rates and may even forgo the request that you hand over the vehicle title as collateral. Either way, You may find a company that will take some other type of collateral as security for the loan you need!


Keep driving your car after getting a title loan with no vehicle!

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