What are Title Loans in Dearborn?

Do you need fast cash to handle a tough financial situation? Title loans in Dearborn are vehicle-secured loans that can help you get the emergency cash you need in as little as 24 hours!3

Between unexpected expenses to medical bills and rising costs of living throughout the country, you may be struggling to make ends meet even if you are carefully following a budget. The good news is that if you have a vehicle title in your name and a qualifying sedan, truck, or SUV, Michigan title loans can help you unlock emergency cash.1

If you qualify for a title loan in Dearborn, you use your vehicle’s title as collateral for the loan. The lender places a lien on your vehicle’s title after you have signed your loan agreement and the loan is funded. As long as you continue to make payments and your loan is in good standing, you can maintain access to your vehicle and keep driving your car! After you finish paying off your loan, the lien is lifted! 

Don’t wait to see if you are eligible for fast financial relief! Complete a short questionnaire online or call 855-422-7412 to speak with a friendly LoanMart agent today! Loan officers are available six days a week for extended hours to take your call and walk you through the application process.

What are the Requirements For Getting a Car Title Loan in Dearborn?

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If you’re thinking about applying for a title loan in Dearborn, keep in mind that you must be at least 18 years old and have a title to a qualifying vehicle in your name at the time of your application. While your vehicle does not need to be a specific make or model, it must have enough positive equity in order to qualify as collateral for the loan.1

There are several required documents that you will need to have on hand when applying for a title loan, such as:  

  • Valid, Government-Issued Photo ID: This document is required to prove your age and identity. You can provide a Michigan driver’s license, U.S. passport, or another valid, government-issued photo ID. 
  • Proof of Michigan Residence: You must live within Michigan state lines in order to be eligible for a car title loan in Dearborn. To prove your current residence, gather a recent utility bill, credit card statement, or another piece of qualifying mail sent to your address within the last 30 days. 
  • Michigan-Issued Car Title and Vehicle Photos: Your vehicle’s title must be in your name and in your possession when you apply for a title loan in Dearborn. During the first step of your application, you will be asked to provide some basic information about your vehicle, such as its year, make, model, and current mileage. You should also be prepared to submit photographs of your car’s interior and exterior to complete a virtual car inspection when applying for a title loan serviced by LoanMart!1
  • Proof of Income: Your income is an important factor when applying for a title loan because you must verify that you are capable of paying back your loan. Typically, you can submit a recent pay stub, bank statement, or other qualifying document to prove your income!1

Checking over these documents for accuracy and completeness is one actionable step you can take to ensure that your application is as efficient as possible! All of the required documentation and vehicle photos can be submitted online via LoanMart’s convenient customer portal. In addition, you also have the option to send your paperwork directly to a title loan agent via email or text message. Complete a pre-approval form online or call 855-422-7412 to get started today! 

FAQs About Dearborn Title Loans

If you have more questions about title loans in Dearborn, you can dial our toll-free number or check out some of the most frequently asked questions about vehicle-secured loans listed below:

Can I Get Car Title Loans in Dearborn with Bad Credit?

Title loans in Dearborn can still be accessible to individuals with bad credit! When you apply for a title loan serviced by LoanMart, the most important factors that impact your eligibility for funding include your vehicle’s value and your income. Even if you have a bad credit score, you can still qualify for the financial help you need through a Dearborn title loan!1

What is the Interest Rate on Title Loans in Dearborn?

If you are eligible for a title loan serviced by LoanMart, you can expect to receive a competitive interest rate and access to flexible repayment options!1

How Do I Apply for Title Loans in Dearborn?

Whether you are submitting your application for a title loan serviced by LoanMart from Dearborn, Detroit, Grand Rapids, Warren, or another nearby city in Michigan, you can follow these simple steps to qualify for the funds you need:1

  1. Choose How to Apply: You can begin your application online or over the phone. After answering a few questions about yourself and your vehicle, you can easily find out you are pre-approved!1
  2. Submit Your Paperwork: If you receive pre-approval, a loan officer will request the required documents mentioned above. Having these documents ready to go before you submit your application can expedite this step! 
  3. Receive Funds: If you receive full loan approval, you can look forward to receiving your money quickly! Qualified residents can choose to receive their money via direct deposit and access their funds in as little as 24 hours.3 You will also have the option to receive a check in the mail or pick up your funds at any participating money transfer location in Dearborn.

Title Loans in Dearborn Vs. Other Financing Options 

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If you need emergency cash, you have likely considered a few different loan options, such as a personal loan or a payday loan. You can apply for a personal loan at a local bank branch or online, but obtaining approval may be difficult if you do not have a strong credit score. Generally, personal loans have stricter credit requirements in comparison to title loans and payday loans.

While payday loans tend to have less stringent application criteria, keep in mind that they offer lower loan amounts on average than personal loans and title loans. Additionally, you are expected to repay the payday loan on your next payday, so the repayment period is considerably short!

If you are eligible for a title loan in Dearborn serviced by LoanMart, you can receive flexible loan terms and competitive interest rates, even if you have bad credit!1

Why Choose Car Title Loans in Dearborn, Michigan?

There are many benefits to choosing car title loans in Dearborn serviced by LoanMart! Take a closer look at some of the perks you can take advantage of if you are approved for a title loan:1

  • Flexible Repayment Options: Borrowers in Dearborn will have the option to set up recurring payments from their bank accounts, make payments in person at a participating money transfer location in Dearborn, or pay through the LoanMart app!
  • Transparent Terms and Conditions: From the beginning of your application to the final payment on your title loan serviced by LoanMart, you can expect full transparency. There are no hidden fees, balloon payments, or prepayment penalties!5
  • Freedom With Your Money: If you are eligible for an online title loan in Dearborn, you have the freedom to spend your loan proceeds on any type of personal expense, such as home repairs, medical bills, or rent payments.1

On top of all of these benefits, you can expect excellent customer service and support if you choose to apply for title loans in Dearborn serviced by LoanMart. Don’t wait to see if you qualify for the emergency cash assistance you need! Complete a short questionnaire online or call 855-422-7412 to start your application for a car title loan today.1