If you’re short on cash, applying for a title loan might be the solution. A title loan is a secured loan that allows you to borrow money by using the title to your vehicle as collateral. Because they are processed quickly and easier to qualify for than traditional personal loans, many people rely on title loans to get the cash they need as soon as possible.
You may think that submitting an application is the first step you should take to borrow money with a title loan. However, that’s not necessarily true. Most borrowers begin the process by requesting an online title loan quote instead.
What do you need to do to get an online title loan quote? What information will a quote provide? Here are the answers to some of the most frequently asked questions regarding online title loan quotes:
What Information Does An Online Title Loan Quote Contain?
Think of a title loan quote as an estimate. Your quote will tell you what terms you should expect if you decide to follow through with taking out a title loan.
Because your car is used as collateral to support your title loan, your quote will include an estimate of your vehicle’s resale value. You can only borrow up to a certain percentage of your vehicle’s value, so your quote will also tell you how much you may be able to borrow based on the estimated value of your vehicle.
Your title loan will contain other important information about your loan, including the interest rate. Having this information available will make it easier for you to estimate the total cost of the loan and determine if it’s right for you.
Why Should You Get An Online Title Loan Quote?
If you’re thinking about taking out a title loan, it’s wise to get an online title loan quote. Your quote will give you an idea of how much you will be able to borrow if you are approved for a title loan. This way, you can confirm that you will be able to get the cash you need by taking out a title loan.
Requesting quotes from multiple title loan companies can also help you find a loan with the most favorable terms possible. Taking the time to compare quotes from different lenders can save you a significant amount of money over the course of the loan.
How Long Will It Take to Get An Online Title Loan Quote?
Getting an online title loan quote doesn’t take a lot of time. In fact, the entire process can be completed in a matter of minutes online or over the phone.
How Much Does It Cost to Get An Online Title Loan Quote?
Title loan companies typically offer free online title loan quotes. This means requesting an online title loan quote won’t cost you a dime.
Because title loan quotes are typically free, you can request them from multiple title loan companies. This gives you an opportunity to compare quotes and choose the one with the most favorable terms.
Do You Have to Accept the Terms of An Online Title Loan Quote?
Some people assume that they will be required to take out a loan if they go through the process of requesting a free quote. However, that’s not the case. If you request a title loan quote, you are not obligated to apply for a title loan after receiving the quote. In fact, you are not obligated to do business with the title loan company at all, so don’t let this stop you from getting a free quote.
You are encouraged to request quotes from multiple title loan companies, compare their terms, and determine which one is best for you. You will never be obligated to accept the terms of your quote, apply for a loan, or work with a title loan company simply because they gave you a free quote.
Will the Terms of Your Title Loan Differ From Your Title Loan Quote?
Remember, you should think of an online title loan quote as an estimate. Your quote will give you a general idea of how much your car is worth, how much you are approved to borrow, and at what interest rate. However, these terms are not set in stone.
In other words, if you decide to apply for a title loan after getting a free quote, the terms of your loan may be slightly different. This can happen for several reasons.
Your quote is prepared based on information you provide. If the information you provide isn’t accurate, the terms of your quote won’t be accurate either. Your loan specialist may need to adjust the terms once they input the correct information. This is why it’s crucial to provide accurate information when requesting a free quote from your loan specialist.
Your terms can also change based on the current market conditions. For example, if you request a free quote but then wait months to move forward with the title loan application, the market may have changed significantly. Because of this, the terms of your title loan may be different from the terms of your initial quote.
How to Get An Online Title Loan Quote
Now you should understand the basics of online title loan quotes. Follow these steps to get a free online title loan quote from I Need Cash Now:
- Contact our loan specialists. There are two ways to get in touch with our loan specialists. You can call us directly at 1-855-713-6522 or submit your information using the form on our website. If you submit an online form, a loan specialist will reach out to you as soon as possible.
- Provide information. Before your loan specialist can prepare your free quote, they will need to get some information from you about your vehicle. You will need to tell your loan officer your vehicle’s make, model, year, mileage, condition, and trim level. Make sure the information you provide is accurate.
Your loan specialist will use your information to prepare a custom free title loan quote. It’s important to review the terms of your online title loan quote carefully. Your loan specialist will be available to answer your questions, address your concerns, and explain the terms of your title loan quote.
What Are the Next Steps After Getting An Online Title Loan Quote?
If you’re satisfied with your quote, you can move forward with the process of applying for a title loan from I Need Cash Now. Here’s what to do next:
- Finalize your application. The final step in the application process is signing and submitting the required documentation. Your loan officer can explain what documents you need to sign and submit to complete this step. In general, though, you should be prepared to submit the title to your vehicle, your driver’s license, proof of income, proof of residence, and proof of auto insurance.
- Collect your cash. The sooner you sign and submit the required documentation, the sooner you can collect your cash. You can choose to either pick up your cash in person at one of our convenient locations or have it sent to you directly via check or wire transfer. Let your loan officer know how you would like to receive your cash.
That’s all you need to do after getting a quote from a title loan company. You’re just a few steps away from getting approved for a title loan so you can get the cash you need to make ends meet.
