Are you dealing with an unexpected financial emergency? Medical bills, home repairs, or surprise travel costs can really add up. That’s where title loans, also known as auto equity loans, can help. At Tennessee Title Loans, Inc., we make the auto equity loans process simple and fast.

Here’s everything you need to know about how to get approved today for a title loan in Tennessee, including the steps, requirements, and how repayment works.

How To Get Auto Equity Loans In Tennessee

What Is an Auto Equity Loan?

An auto equity loan, also called a car title loan, lets you borrow against your car’s value. You can get up to $2,500 depending on the condition of your vehicle. The best part? You don’t need good credit to qualify.

Thankfully, we keep the process simple, with many borrowers getting same-day approval for auto equity loans in Tennessee. You can get approved online with our simple process and never have to make a visit to one of our store locations.

The following are the steps involved in the easy auto equity loans process:

1. Prepare Your Auto Equity Loans Requirements

Before starting the application process for Tennessee auto equity loans, you should ensure that you meet the necessary requirements. If you cannot meet the requirements exactly, you cannot get approved for auto equity loans.

At Tennessee Title Loans, Inc., we have minimal requirements you must meet to get approved for emergency funds. One such requirement is being at least 18 years old, which you can establish after proving your identity.

We only need borrowers to have the following three required items:

• Your driver’s license or another state-issued ID card
• A lien-free car title in your name
• Your vehicle for a quick inspection

You should collect all these items and ensure you meet the requirements before starting. This includes ensuring your car is fully paid off so your title is lien-free. You must also get your title transferred at a local DMV office if it is not in your name.

2. Fill Out Our Online Form

If you meet all of the requirements, you can advance to the next step of filling out our online inquiry form. You can find it on our homepage. It only requires you to provide a few necessary details, such as your name, email, phone number, zip code, and vehicle information.

It will take you less than five minutes to submit your information. A loan representative at a Tennessee store location near you will receive your information and give you a call.

3. Speak To A Loan Representative Over the Phone

During this phone conversation regarding auto equity loans, our loan rep will verify the information you provided and ask for anything else they need. This is to determine if you can get approved for auto equity loans in Tennessee.

You will also get the opportunity to ask questions about loan terms, repayment, and any other details you wish to hear about. After discussing the details of how to apply for auto equity loans, you will agree with the loan rep on a place to meet to verify your requirements. Thankfully, we will come to you. The meeting can be at your home, workplace, Tennessee store location, or any other convenient location.

4. Bring Your Required Items To The In-Person Meeting

After agreeing on the meeting place, gather your required items and head there. The in-person meeting will take less than 30 minutes. The loan rep will verify that you have all of the necessary items.

They will also inspect your vehicle to determine its value and establish how much you can borrow. During the inspection, they will use a nationally recognized pricing guide and establish its value based on age, make, model, mileage, and condition.

5. Sign Loan Documents And Receive Your Emergency Cash

If you are approved after having your required items verified, the loan rep will present you with a few documents to sign. These will establish that you agree with the loan terms, including your loan amount, interest rate, and repayment schedule. Before signing, you can ask questions and create a repayment schedule that works best for you.

After signing the documents, the process is over and you will receive the cash in hand.

6. Repay The Auto Equity Loan

After using the emergency money to pay for your urgent expenses, your focus should be on how to repay the auto equity loan ASAP. The longer you take to repay it, the more you will have to pay because of the interest rate.

We use a monthly repayment schedule, allowing you to pay a fixed amount every month. You can speak to a loan representative to adjust this schedule, possibly increasing your monthly payment amount to help repay the loan quickly.

Remember, your car title is used as collateral for this loan. If you fail to make multiple payments, the auto equity loan will default, and the loan lender can seize your car. Make sure you can make your payments on time to keep your car and avoid late fees.

FAQs

Can you get an auto equity loan with bad credit?

You don’t have to worry about your credit regarding auto equity loans. Whether you have good or bad credit, the process will continue if you fulfill the other requirements. This is because it is a collateral loan using your car title to secure the loan, meaning you don’t have to prove your creditworthiness.

Do you get to keep your car after getting approved for auto equity loans?

Tennessee Title Loans, Inc. allows borrowers to keep their cars during auto equity loan repayment. We don’t wish to derail your life, so you can keep your car and continue to drive to work, school, and everywhere else you need to go.

Will getting an auto equity loan in Tennessee lower your credit score?

We do not report our Tennessee auto equity loans to the three major credit bureaus. This means your credit will not go do when borrowing money. However, it also won’t go up after paying back the loan.

Apply Today for a Title Loan in Tennessee – Get Approved For Up To $2,500

The easy auto equity loans process at Tennessee Title Loans, Inc. allows you to get same-day approval for emergency cash. You can start the process today and receive your emergency funds by the next bank business day. This allows you to swiftly handle your urgent expenses and avoid the drawbacks of missing payments.

Don’t wait any longer, and start the process today by filling out our online inquiry form. One of our helpful loan associates will call you and guide you through the straightforward loan approval process.

 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.