Sometimes life throws you a curveball and you need to get money quickly so that you can pay for things like medical expenses or unexpected house repairs. If you own at least one car, then a title loan might be the fastest and easiest way for you to get the money you need. Read the information below to see how you can financially get back on track and get easy approval for title loans. 

What Are Title Loans?

Title loans are short-term loans associated with your vehicle. When you take out a title loan, you are using your car as collateral for a short period of time to pay for something else. The loan is basically a percentage taken out of the estimated value of your car. Title loans are often the easiest to get for borrowers because they require very little paperwork and can be approved quickly. This is because lenders of title loans do not normally require borrowers to have a good credit score or proof of financial stability. All they need to have is full ownership of their vehicle and proof that they have the car title. 

This kind of loan is great for people who are in a financial pinch and need a quick solution because these loans usually only last for about thirty days. The downside of title loans is that because they are so short-term, they have extremely high interest rates, usually amounting to about twenty-five percent of the loan total per month. 

How to Find The Right Lender

The best way to find a good title loan lender is to go online and read the reviews of different lenders in your area. If you go on the internet and search for flexible title pawn near me, you will find plenty of lenders who will be more than willing to make an appointment with you. On their websites, check for different borrower reviews to see how easy it was to get a loan with them and what they require of borrowers.

Another thing to look out for is their interest rates. Compare the interest rates of a few different local lenders to see which ones have to lowest rates. If you find one that has good reviews and low interest rates, then that is the one to go with.  

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What Factors Affect Easy Approval?

There are many factors that contribute to easy approval for a title loan. The main factors are not needing to show a credit score, minimal documentation required, no need to show proof of income and available collateral. 

Credit Score

Credit scores are hard to maintain, especially when things are getting more and more expensive and unexpected financial situations crop up. Because most title loan lenders do not even ask about credit scores, this makes it much easier for everyday people to get quick and easy approval. Most other loans that people try to go for require a good credit score right up front and if you don’t have one you are immediately rejected. It is for this reason that title loans are the only option for many people who are struggling financially. 


Although title loan lenders will still require some documentation like a valid identification card and the title to their vehicle, that is about it. This is much less than what other lenders require, making it a quick process where borrowers can apply for and get a title loan within the same day. 

Proof of Income

Not all title loan lenders require any kind of proof of income, meaning that borrowers do not need to have a certain level of income to qualify for the loan. Because the loan is based almost entirely on the value of a person’s car, that is the main thing that lenders are focused on. If a borrower was able to purchase a car, then lenders assume that they hopefully have a good enough income to repay the loan in a timely manner. 


Having a car that is your own and under your name is enough collateral for most lenders to accept your title loan within minutes. The most important requirement for title loan lenders is that you have a vehicle and that vehicle is in your name, once that is proven and the value of the car is assessed, then the loan can be granted.

What Happens if a Title Loan Isn’t Paid Back?

If a title loan isn’t paid back in time, the biggest consequence is that the borrower can have their vehicle seized. Because the loan was taken out of the value of the vehicle, the borrower gives the title of the car to the lender for the time being until they can pay the loan back plus the interest incurred. After thirty days or however long the agreed title loan lasts, the lender has the right to take the vehicle if the borrower cannot cough up the funds. 

Not being able to pay back a title loan can also lead borrowers to have to take out other, different loans to pay back the title loan, this can cause a spiral of debt that is hard to get out of once you are in it. If you are unsure if you can pay back a title loan in time, then try to talk to your lender about different options so that you don’t end up having to take out additional loans. 

Pros and Cons of Title Loans


The pros of taking out a car loan include:

  • No credit score needed
  • No proof of income is needed
  • Easy approval


  • Short-term, high-interest type of loan
  • Risk of loss of assets
  • Risk of getting into more debt

a neon sign is lit up in the dark

Considering taking out a title loan is a risk because you are using your car as collateral, which may be your only form of transportation, but, it is the best loan for people who need a lump sum of money fast. It is important to weigh your options before jumping into a title loan and figure out what is best for you and your financial situation.

Published by HOLR Magazine.

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