things to know about car title loans

Important Things To Know About Your Car Title When Getting A Title Loan

Do you want to make sure you know all the ins and outs of car title loans before you get one? We've got everything you need to know right here. By the end, you'll practically be an expert!

What Is A Car Title Loan?

A car title loan is a short-term financial solution that uses your vehicle's value to lend you money (between $300 and $2,500, in our case). It's an option to use when you urgently need money. And it works for a broad range of people, even those with bad credit since we welcome all financial backgrounds and monetary situations.

You can start the process at home by giving us a call or filling in an online form (more on that later). Borrowers tend to like title loans due to their quick and easy acquisition process. It takes all the legal and financial jargon out of it, replacing it with plain English and helpful loan experts. 

What Can You Use A Car Title Loan For?

Legally, you can use a car title loan for whatever you want. There aren't any restrictions placed on it that you must abide by (like some traditional loans).

However, we don't recommend using them for anything other than emergencies. Crises include events such as:

  • Needing to pay off unexpected medical bills.
  • Funding unforeseen but urgent travel.
  • Fixing storm or natural disaster damage to your home.
  • Repairing your vehicle.

Keeping title loans for emergencies ensures that you don’t use them recklessly. 

Important Things To Know When Getting A Car Title Loan

We are yet to dive into the process of acquiring a car title loan from us. But that's because we haven't divulged the important things you need to understand prior to starting the process.

So, let's get to it:

1. Your Title Needs To Be Lien-Free

Firstly, you need to have a lien-free car title to qualify. What does lien-free mean, you ask? Well, it's just a fancier way of referring to a car that:

  • You own.
  • Has no outstanding judgments against it.
  • Has no current loans against it.

2. We Keep Your Title, You Keep Your Car

Contrary to popular belief, we don't go around taking people's cars away. All we do is keep your vehicle's title, and allow you to keep your car and use it as you wish.

This means we won't ask you to stop using your vehicle. Just carry on as normal. We understand that needing a loan can be stressful, so we never want to add to the stress by restricting your usage of your own property.

3. The Title Must Be In Your Name

To get a title loan in Tennessee, the vehicle's title must be in your name. But what can you do if the title is not in your name?

If for some reason the title isn't registered in your name, you will need to contact the DMV (Department of Motor Vehicles) to have it transferred to you.

Once the switch is complete, then you can request an auto title loan from us at Tennessee Title Loans, Inc.

button that says car valuation for car title loan

4. Some Factors Affect Your Vehicle's Value

We mentioned earlier that we base the amount you can borrow on your vehicle's value. But it's worth understanding how we calculate your car, truck, or van's value so you can ensure you'll get the amount you need.

We base our evaluation on the following three aspects:

  • The condition of your vehicle on the inside and outside.
  • The national market average for the make and model of your vehicle, including any extras (sports packages, for example).
  • The outcome of the inspection conducted by our trained and qualified title loan specialists upon your arrival.

How To Get A Car Title Loan From Tennessee Title Loans, Inc.

The entire process for acquiring a car title loan can take as little as half an hour. You can have your money on the same day you start the process by:

  1. Fill out the form found on Tennessee Title Loans, Inc. It's quite short since we only ask for basic information initially.
  2. As soon as you hit submit, your information will be sent directly to your closest Tennessee Title Loans, Inc. location to allow our loan representatives to call you back.
  3. During the phone conversation, our loan associate will tell you about the process. If you have any questions, now is the perfect time to answer them.
  4. Once the phone conversation is finished, you can drive to your closest Tennessee Title Loans, Inc. location with these items:
    1. Your vehicle.
    2. Your lien-free title to your vehicle.
    3. Your driver's license.
  5. When you arrive, one of our loan experts will sit down with you to go over your paperwork. They'll also inspect your vehicle.
  6. This assessment will tell them how much you qualify for and whether you can gain approval.
  7. Once you're approved, you will receive the amount on the same day.

sticky notes that say car title loan

Acquire Your Car Title Loan Now!

That’s pretty much everything there is to learn about getting a car title loan in Tennessee. Get yours today from us at Tennessee Title Loans by submitting an online form to get started.


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

Louis Tully

Louis Tully is a full-time finance writer offering financial expertise to everyday consumers. He understands the core values of finance and used his writing talents to share his own experiences with money to his readers. His articles teach how financial failures can easily become successes by making new habits and creating realistic goals.