Can You Get a Title Loan on a Car That is Not Paid Off?

Here at TitleMax®, one of the most popular loan products that we offer is the title loan.

In most cases, it’s possible to get your money in as little as half an hour. That’s because our loan experts have streamlined the steps and made them as customer-friendly as possible. It takes us just minutes to evaluate your vehicle and decide on the amount you may be eligible for.

Practically any kind of vehicle can be eligible for an auto title loan. The most common form of auto title loan is offered to owners of passenger cars, but trucks and even motorcycles can also qualify. However, there is one question that consistently comes up about the process: whether you need a paid-off car title to get a loan.

Do You Need a Paid-Off Car Loan to Get a Title Loan?

There are two major qualifications that your car title must have to make you eligible:

  • Your car title must be in your name: In order to help you with a loan, your car title must be in your name. This helps to ensure that you are the owner of the vehicle. It may be possible to get a title loan with a vehicle that you co-own with another, however.
  • You must have a paid-off car loan: Title loan eligibility depends upon whether your car is paid off and lien-free. This is a standard practice in lending that helps to protect the legal rights of our consumers and streamline lending significantly.

During the duration of your title loan, TitleMax® will hold on to your car title. However, you still maintain complete access to your vehicle. This helps to make it easy for you to get to and from work and other appointments, so you don’t have to worry about any major inconvenience.

A paid-off title makes it clear that you are the owner of the vehicle and prevents any confusion throughout the loan’s lifecycle. Car titles where the ownership is unclear or in dispute aren’t loan-eligible, since they could result in unforeseen legal issues down the road.

Our standards in regard to car titles help to protect customers like you against fraud. These standards are among the main reasons why we can offer auto title loans without the kind of invasive credit checks that you might be subject to for a bank loan.

Go Online and Get a Loan Fast With Your Auto Title

Our title loan and title pawn services are second to none throughout the nation, trusted in 17 states and counting. If you’re interested in a title loan and meet a few easy qualifications, you could have the money you want on the very same day you apply. Provided that you have a title in your name and a paid-off car loan, title loan services may be the solution.

It’s never been easier to get a great title loan, so get in touch with TitleMax® today to get started.

Learn More About Money and Loans from TitleMax® and Around the Web

  • * Maximum loan amount in Illinois is $4,000. Maximum loan amount in Mississippi is $2,500. Maximum loan amount in Tennessee is $6,500, assuming customer qualifies and accepts both the Pledge and Line of Credit. Minimum loan amount in California is $2,600.
  • ** Car title loans may require a credit check in California. Motorcycle title loan and pawn approval requires satisfaction of all loan eligibility requirements including a vehicle evaluation and a credit check.
  • *** To be approved for a title loan or pawn, you must be at least 18 years of age (19 in Alabama). Account approval requires satisfaction of all eligibility requirements, including a possible credit inquiry, and a motor vehicle appraisal. Certain other terms and conditions apply.
  • † Proof of income is required in Illinois, Nevada, some Texas locations, and California. In California you are also required to provide proof of residency, and a valid vehicle registration to obtain a loan.
  • ‡ Signature and personal loans are offered by an affiliate of TitleMax® and are currently only available in Florida. Account approval requires satisfaction of all loan eligibility requirements, including a credit inquiry, and, if applicable, motor vehicle appraisal.
  • § Refinancing of a competitor’s title loan is not available in Mississippi or Virginia. In Illinois, you are required to have reduced your original principal balance by 20% before refinancing. TitleMax®, TitleBucks®, and InstaLoan®, are not considered competitors. Please see a store associate for details.
  • - TitleMax of Virginia, Inc. d/b/a TitleMax® is licensed by the Virginia State Corporation Commission, license number VTL-11.
  • - In Texas, TitleMax® acts as a Credit Services Organization to assist customers in obtaining a loan through an unaffiliated third party lender. Please see store associate for details. Please see Texas Schedule of All Fees.
  • - In GA, TitleMax® offers Title Pawns.
  • - In CA, Loans are made by TitleMax of California, Inc., California Finance Lenders Law License No. 603K014.
  • - New Mexico Consumers: please see important New Mexico Consumer Information and Disclosures.