Get A Car Title Loan In Ohio

Highway Title Loans now offers car title loans in Ohio, and you can apply online over the phone at 877-433-5454 or directly in person at locations throughout the state! Title loans are easy to get when you have a lien free vehicle that serves as collateral and as of 2024, you can borrow up to $20,000 in Ohio by tapping into your vehicle's equity. Unlike other personal loans, we won't need to do an in-depth credit check and you can get your cash in less than 24 hours through direct deposit!


What Are The Requirements For An Online Title Loan In Ohio

Applicants must provide a lien free car title, meaning there are no outstanding loans or cosigners on the vehicle. You need to provide proof of income from pay stubs, bank statements, or other verifiable income sources. Some lenders will also accept government benefits, such as proof of insurance settlements or annuities.

A government-issued photo ID, such as a driver's license, is often required along with proof of residency in the form of mortgage, document, rental agreement, or utility statement. You'll likely need to show proof that car is registered with the State of Ohio, and has full insurance coverage in case it's destroyed or damaged.

The approval procedure for title loans is VERY QUICK and can take thirty minutes or less if you have all the necessary documents. After being pre-approved, you'll need to bring your car for an inspection (this can be done at multiple offices through Dayton and Cleveland), and we'll confirm the vehicle matches the resale value and can be used as collateral. This typically entails checking the engine compartment, recording the VIN and Odometer reading and doing a quick vehicle test drive.


Loan Limits And Interest For Ohio Title Loans

While the Ohio Short Term Loan Act enacted limits on some unsecured personal loans, it doesn't apply to car title loans in Ohio as these loans are secured and often offered for more than $2,000. As of 2024, the average title loan amount issued in Ohio is $2,500, and some customers can borrow $20,000 with high-value, low-mileage cars and SUVs. Your loan amount is determined primarily by the vehicle's value and you can expect to borrow 30% to 55% of the current value.

Interest rates for title loans in Ohio will vary, and sometimes they aren't subject to the Ohio Short Term Loan Act. For most loans over $2,000, you can expect an APR of nearly 70%. Because of these high rates, it's important to pay down the balance quickly and contact your lender often to negotiate a lower APR or more favorable repayment term.


Cincinnati Ohio


Bad Credit Title Loans In Ohio - Are They Possible

Anyone with bad credit who owns a vehicle can still get approved for a title loan because these loans use the security from your car, truck, or motorcycle as collateral, not your FICO score! Even with a credit score under 650, if the applicant has a clean and clear title and proof of income, they stand a good chance of approval.

The collateral mitigates the lender's risk and they know there's a vehicle they can repossess if you default on the payments. One thing to point out with a bad credit title loan in Ohio, it's crucial to exercise caution with a secured loan as there's more long term risk that comes from losing your car versus taking a hit to your credit score. In addition to losing your vehicle and having it sold at auction, you can also face a scenario where you still owe money to the lender if the vehicle's sale does not cover the full cost of the loan!


Get Your Cash After Approval For An Online Title Loan In Ohio

After being approved for an online title loan, you can receive the loan proceeds in less than one business day with a money order or direct deposit payment. This timeline can be quicker if you meet with the Ohio loan provider in person and they offer you the cash in person. Some companies in Akron and Cincinnati will gladly give you cash just minutes after you add them as a lienholder, so be sure to shop around and find a company with the lowest rates and fastest payment options.

It's best to understand the online application process and how it's unique to people in Ohio. Likewise, no matter how you apply, even if it's for a title loan with a car title that's not in your name, ensure your particular loan provider doesn't need any additional documents besides what is noted above. We will do our best to get you the best rates and financing terms from several direct lenders in Columbus, Dayton, Canton, or anything else in Ohio!. Apply now with Highway Title Loans online or call us at 877-433-5454!


Cities In Ohio:

  • Dayton
  • Toledo
  • Youngstown
Highway Title Loans has you covered in Ohio