car title loan for emergencies

5 Things To Know About A Tennessee Vehicle Title Loan

Before getting a title loan, it’s always wise to understand how they work and, more importantly, who you’re working with. Here’s what you need to know about a Tennessee vehicle title loan. At Tennessee Title Loans, Inc., we provide emergency title loans of up to $2,500.

Our process is quick and can be as brief as 30 minutes. All you’ll need to get started is to fill out the online inquiry form on our website. Getting a Tennessee vehicle title loan is straightforward, but before you start, here are five valuable tips to help you make an informed financial decision.

What Should I Know Before Getting A Tennessee Vehicle Title Loan?

1. Title Loans Are Secured

One of the first things you should understand before getting a Tennessee vehicle title loan is whether it’s a secured or unsecured loan. In this case, title loans are secured, meaning you must use your lien-free vehicle title as collateral for the loan.

If you have a lien-free car title, then the condition of the title is essential for the security of the loan. In essence, it needs to have no legal claims against it, something lenders refer to as a lien. Liens indicate that someone else owns that car until the debtor pays their obligations.

If you have a lien on your vehicle title, check your paper or electronic title for liens and remove them before applying to take out a loan. That way, you can go through the process of getting a Tennessee vehicle title loan without any hassle. If you don’t have a lien-free car title, then you won’t be able to take out one of our loans. We do alternatively offer payday loans and flex loans.

2. Title Loans Are Valuable When Used Correctly

An essential aspect of a Tennessee vehicle title loan is that they are not designed for frivolous use; they should be saved as a last resort. Title loans come with risks and responsibilities that should be considered before investing. With that caveat explained, title loans can be valuable when nonpayment inevitably leads to more expense.

man using car for title loan money

Not paying your rent, for example, puts a stain on your credit record and often leads to costly repercussions. In this event, it’s usually better to take on the responsibility of a loan than to risk incurring further debt. Our customers use loans for the following circumstances:

  • Important repairs
  • Expensive medical bills
  • Emergency travel
  • Rent or utility payments

These situations, among others, usually necessitate a quick response; otherwise, they can be detrimental to your financial (and even physical) health.

3. Title Loans Are Easy To Apply For

Of course, knowing how to apply for one of our loans is essential if you’re interested. Follow these easy steps:

  1. Follow and complete the online form provided online and wait for a representative to call you back..
  2. On the phone, give your representative a meeting location if you prefer not to go to the store.
  3. Bring your essential items (we’ll discuss those in a moment) to the meeting for inspection.
  4. Sit down with your representative; they’ll review your items and see if you qualify for approval.
  5. If you’re qualified, all that’s left is to receive your money as soon as that day!

4. Title Loans Have Simple Requirements

Lastly, you’ll need to know what to bring to the meeting to ensure you’re ready. Here are the simple requirements for a Tennessee vehicle title loan:

  • Your lien-free title—we will verify that you own your car outright and ensure that you have no liens or legal claims against it.
  • Your identification—we’re required by law to verify your identity via one of the following: your driver’s license, passport, military ID, non-driver’s license, or student ID.
  • Your vehicle for inspection—we will inspect your car to determine its value.

5. Title Loans Use Your Car’s Value To Determine Loan Amount

You’ll also need to bring along the car whose title you use as collateral. The car’s condition impacts the amount of money you may qualify for. Luxury cars, for example, will be worth more than commonplace ones. In addition, well-kept vehicles will usually allow more money to borrow.

In any event, your car is priced on a nationally recognized pricing scale, which we use to determine the amount of money you are eligible for in a Tennessee vehicle title loan.

woman with title loan cash

Get Your Emergency Cash Today!

A Tennessee vehicle title loan can be daunting, especially when jargon is thrown out without explanation. Hopefully, we’ve been able to give you a core understanding of title loans so you can make an informed decision.

At Tennessee Title Loans, Inc., we offer convenient loans that you can use when an emergency strikes. If you’re searching for fast cash to help tackle a financial emergency, fill out our simple online inquiry form to start the Tennessee vehicle title loan process today!

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.