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When borrowers need emergency funding in a hurry, a same day title loan can be one of the options to consider. Title loan companies understand that their customers frequently need a loan fast due to unforeseen life events or unexpected bills – therefore, car title loans usually come with a quick application and fast underwriting process that often allows borrowers to get cash as fast as the same day!1 3
With a title loan serviced by LoanMart, borrowers can apply online at any time. If approved, you could get your cash on the same day that you applied.3 The approval process can take just minutes – no matter if you apply online or over the phone.
How Do Same Day Title Loans Work?
If you need cash the same day, you need a loan option that is designed to make same-day funding possible. Compared to many other loan options, title loans can have a faster approval process because collateral is used to secure the loan, which allows title loan providers to focus less on a thorough review of your credit history.1
To get a loan against your car or truck on the same day you apply, you need to meet the lender’s requirements. Besides owning a vehicle that has sufficient equity – meaning that the current value of the car exceeds what you still owe on it – the car title loan requirements typically include:1
- Being at Least 18 Years of Age or Older
- Having The Title of the Vehicle in Your Name
- Being Able to Provide Proof of Income
While you do not need to have a 9-5 job to apply for a title loan, you will need to show the lender that you can afford a monthly payment! If you are self-employed, on disability, or you receive retirement benefits, you can provide the applicable documents for those income sources as proof.
Once your car title loan is finalized, the lender will add a lien to your vehicle title, which documents that you car or truck is currently used as collateral. Once you’ve paid off your loan, the lien will be removed.
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Benefits of Same Day Title Loans
When you apply for a title loan serviced by LoanMart, the process is streamlined to help you get your funds fast.1 Besides fast funding, borrowers can expect additional benefits when applying for a title loan with the potential to be completed on the same business day:
Here’s what borrowers can expect:
- No Hidden Fees or Prepayment Penalties: You should be rewarded for paying off your loan early, not punished! Paying off your loan early will help you save on interest and help your wallet in the long run. Auto title loans serviced by LoanMart don’t have any hidden fees or prepayment penalties.5
- Exceptional Customer Service: LoanMart’s loan agents are available for extended hours to help you answer questions about your loan.
- More Time to Pay: Some auto title lenders will only give you 30 days or a couple months to repay your loan. With title loans serviced by LoanMart, you can have an extended period of time to repay your loan if that is what you need! You are encouraged to repay as early as you can, but you can also take advantage of your full loan term which keep your payments manageable.5
- Hassle-Free Application Process: Borrowers can apply online or over the phone at 855-422-7412! The process can take just a few minutes to complete and is streamlined to help you get your cash fast.3
- Bad Credit? No Problem: Even if you are not confident with your credit history, you can still apply for a title loan serviced by LoanMart! Borrowers from a variety financial backgrounds and credit histories may be eligible for same-day funding.1 Since title loans are secured loans, your credit history is not the most important part of the loan application. Instead, a lender will focus on your income and the value of your vehicle!1
- Get Your Cash Fast: When you’re in a financial emergency, you may not have any time to waste! Borrowers that get approved could get their funds in as little as 24 hours.3
How to Apply for 24-hour Car Title Loans Near Me
Applying for a title loan and completing the process is quick and easy.1 If you’re applying for same day title loans serviced by LoanMart, the process is just three simple steps:
- Call or Apply Online: Borrowers can start the application online or by giving us a call at 855-422-7412. No matter which option you choose, there’s no need to leave the comfort of your home to get the cash you need. Simply answer a few questions about your car and income to see if you are prequalified.1
- Send in the Right Documents: Upon approval, a loan officer will let you know what documents you will need to submit. While these documents may slightly change from state to state, you will generally need:
- Proof of Income
- Government Issued Photo ID
- Proof of Address
- Recent Photos of the Vehicle
- Sign Your Agreement and Get Your Cash: Once your documents are submitted and verified, the last step is to sign your loan agreement and mail in your title to get your cash! Your loan officer will be happy to answer any questions you may have about your loan contract before you sign it. Borrowers can also choose how to receive their cash – whether you choose to pick up your cash at a participating money transfer location, through direct deposit or wire, you could get your funds in as little as 24 hours.3
How to Avoid Delays with Same-Day Funding
If getting your title loan on the same day you applied is critical, the following tips based on servicing title loans for over two decades may help you maximize your chances of same-day funding:
- Apply as early as possible: While you can apply online for an auto title loan serviced by LoanMart at any time of the day, applying as early as possible can maximize your chance to get cash the same day. The earlier you apply, the earlier you can get approved and have your loan processed.1
- Carefully follow the instructions for the required documents: When the loan officer advises what documents you need to provide, be sure to take notes so you can provide documents that meet the requirements. Common pitfalls include providing documents that are expired or too old, for example a proof of address that’s dated. Depending on your residence state, you may also need to provide some signed documents regarding your vehicle title. This commonly includes documents such as a vehicle title application or a power of attorney, which are needed so that the title lender can use your car as collateral for the loan. When signing these documents, carefully follow the signing instructions that your loan officer provides, which will include the exact location where you need to sign and date the document, and even what colors are allowed for the signature.
- Take clear pictures: Be sure to take clear pictures of all the documents that you are sending in, and make sure the picture covers the entire required document. If a picture is blurry or a portion of the required document is not visible on it, your loan officer may have to request that you take a new picture, which creates unnecessary delay and back-and-forth.
- Choose the best funding method: The availability of your title loan funds can be impacted by the funding method you choose. Specifically, if you choose to receive the loan proceeds via bank ACH or wire transfer, there are cutoff times after which a same-day transfer is simply not possible anymore. Be sure to check with your loan officer about the cutoff time if you choose to get your loan funds sent to your bank account. Also, keep in mind bank transfers are not available on bank holidays and weekends! Fortunately, with title loans serviced by LoanMart, other funding methods are available that can offer same-day funding even when bank transfers aren’t possible. They include cash pickup at participating money transfer locations and for some customers, electronic funding to debit cards!
Following the above advice can significantly improve your chances to get your title loan cash on the same day that you applied.1 3
Can I Keep Driving My Car While I Pay off My Same-Day Auto Title Loan?
Yes! One of the concerns that a some borrowers have when applying for a title loan with same-day funding is the status of their vehicle while they repay the loan. If you make timely payments on your loan, you can continue to drive your car like its business as usual!
How Do I Pay Off My Same Day Title Loan?
Title loan borrowers can choose between several different ways to repay their loan! Whatever method is more beneficial to them can be the one they choose. There are even ways to repay the loan without a bank account!
Monthly payments can be made through the following options:
- Pay by phone with a payment card or bank account
- Sign up for automatic payments using your bank account
- Pay online using the customer portal
- Visit a participating money transfer location to pay in person
Borrowers who obtained a same day title loan serviced by LoanMart are encouraged to pay early! With several payment options to choose from, paying off a title loan can be easy.
Conclusion
If you are looking for same-day funding through a title loan, there’s no cost or obligation to submit an application and find out what you qualify for!1 With competitive interest rates, an efficient process and title loans available same-day in many states, a title loan serviced by LoanMart could be one of the best title loan options available!
Approved applicants can get their cash in as little as 24 hours by applying online.5
