How to Pay Off a Title Loan

If you need money fast for whatever reason, a traditional loan usually isn’t ideal. These types of loans are based on your credit, and approval can take several weeks. If you have poor credit, there’s no guarantee that you’ll get approved, and if you do, you might end up with a sky-high interest rate. You could prevent all of this hassle by applying for a car title loan, also known as a title pawn. There is usually no credit check required for this type of loan.

Title Loans and Interest Rates

When you research car title loans online, their high interest rates are often mentioned. These high rates often make people wonder how to pay off a title loan fast, because the longer it takes to pay off the loan, the more you end up paying. By applying for a car title loan with TitleMax®, you could prevent high interest rates because our rates are competitive to other title lenders. We work with our customers to establish a comfortable, manageable repayment plan. If you want to pay off a title loan early, you can do so without penalty. Other companies sometimes charge a fee for this, but not TitleMax®. In fact, we encourage early repayment of your loan and don’t charge an extra fee to do so. If you’re currently stuck in a car title loan with a high interest rate, consider contacting us. We might be able to refinance your loan and give you a lower interest rate. The application process is easy. You can fill out an application online, or you can visit one of our 1,000+ locations. Use our online store locator to find a TitleMax® in your area.

What You Need to Qualify for a Title Loan

Wondering how to pay off a title loan fast is good, but before you can do this, you must be approved for the loan. The main requirement for approval of a car title loan with TitleMax® is that you own a car that’s paid off. You must hold the lien-free title to the car. The title must have your name on it as the owner. It doesn’t matter what the make, year, and model of the car is. You will also need a regular source of income and a government-issued ID. Income can be from your job, pension, unemployment, or disability payments. When you apply for a car title loan, your car will get appraised. We do this to get an idea of the value of your car and how much you can borrow. If you want a rough estimate of your car’s value, look up the value of your car on the Kelley Blue Book website. We loan you the funds while we hold onto your car title as collateral. We return your car title to you after you make your final payment. The good thing about an auto title loan is that nothing really changes; you can continue to drive your car as normal, and as long as you make the scheduled payments, you can get your title back™ after repayment of the loan. We conveniently accept cash payments and payments through Western Union.

About TitleMax®

TitleMax® has been in business since 1998. We are proud of the quality customer service we provide and have locations throughout 16 states. However, if you can’t stop by one of our locations, you can always call our toll-free number or use the live-chat function on our website. Our approval process is fast. After you apply, we can let you know how much you can borrow within as little as 5 minutes, and you can have the cash you need in as little as 30 minutes.

Whether you’re dealing with a medical emergency, doing your Christmas shopping, or maybe trying to reduce financial stress that you’ve been under, a car title loan from TitleMax® could quickly help you out. Our repayment plan is doable, and if you come into some extra money, you can always pay off the title loan early without an extra fee. If you have poor credit and need money in a hurry, a title loan from TitleMax® could be the way to go.

  • * 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.