Written by: Sebastian S. ChoiceCash contributor
Do You Want to Qualify for a Car Title Loan?
If so, your car, truck, or motorcycle must have a certain amount of equity to borrow from. Vehicle equity is not something that most borrowers know off the top of their heads, however. Essentially, vehicle equity is just the difference between the current value of your car and what you owe on it, if anything. The less debt you owe and the better condition your vehicle is in, the more positive equity your car may have.
So, how can you use a title loan calculator to get a loan estimate? The answer is simple! All you will need to do is provide some information about yourself and your car. Just use the ChoiceCash title loan calculator or one of the calculators offered by another title loan provider to learn more today!
How Much Can I Get Through a Title Loan?
You don’t need to know everything about car title loans to apply for one. But it can be helpful to learn more! Here’s a breakdown of what you need to know about title loans, including how much you can potentially obtain from them.
Typically title loans are anywhere from 25% to 50% of your vehicle’s value. The more positive equity you have, the more there is to potentially borrow! Here’s how that works. With the ChoiceCash online title loan calculator, you can estimate how much your vehicle is worth and obtain an estimate of your car’s equity, along with a no-obligation quote.
So, theoretically, if your car is worth 20,000, you could potentially obtain anywhere from $5,000-$15,000 for your loan. It all depends on how much your car is worth and what your income is! Your loan amount is also influenced by your ability to repay the loan.
How Do I Use the Title Loan Calculator?
It can be simple to use the title loan calculator online! Just access the internet on your smartphone or computer to get started. To start the process, you’ll need to submit a few details about your car such as your make, year, and current odometer reading / mileage. You may also be asked to provide your residence state since vehicle values can change based on where your car is located:
- Your State of Residence
- The Style of the Vehicle
- Current Car Mileage on the Odometer
- Vehicle Make and Model (Including the Year)
- Any Modifications or Upgrades
Once you submit the necessary information about your car, the next step is to receive your estimate ASAP! With your information on hand, go ahead and submit your title loan inquiry and see if you are preapproved. That’s the convenience of using a title loan calculator!
Get your loan estimate from the source today- don’t wait to see if your income and vehicle qualify for the financial help you need!
How Can I Get Cash With The Title Loan Calculator and Get a Loan Estimate?
Title loans are simple and straightforward! But how do they work? Title loans are collateral-based loans that allow you to borrow off the value in your car by using your vehicle title as collateral. Since the loan is secure, the application process can be much more flexible in comparison to unsecured loans. The rates for approval can be higher as well! So you can easily use the title loan calculator to get a loan estimate and see if you are preapproved.
If you have a paid off vehicle in your name, or a close to paid off car, the process can be easy, and you can potentially use your car’s title to get cash.
What are the Requirements for a Title Loan?
Title loans can be quite easy to apply for! The requirements are straightforward as well. While the exact requirements could change from state to state, the ones you will initially need to meet to qualify for a car title loan are to be of legal age, to have a qualifying car with positive equity, and to have the ability to repay the loan based on your income:
- Be the Legal Age to Apply for a Title Loan
- Have a Qualifying Car Title in Your Name
- Have a Vehicle With a Qualifying Amount of Positive Equity
- Demonstrate the Ability to Repay the Loan
See! The requirements are simple and a breeze. Finding out the value of your car is not a tough process. Neither is the inquiry process for a car title loan in your state! You can inquire about a car title loan from your tablet, smartphone, or computer today without a hassle.
Start Your Title Loan Inquiry Today
If you want to learn more about your car’s equity, just use a title loan calculator to get a loan estimate today! Visit the ChoiceCash title loan website to learn more.