Apply online with Premier Title Loans or contact us at 800-250-6279!


Premier Title Loans knows it can be difficult to get approved for an unsecured loan if you have bad credit. Because of that, we offer car title loans in New Mexico where you can borrow up to 70% of your vehicle's equity. Get approved with a FICO score under 600 and loan amounts start at $2,500!

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    How Title Loans Work In New Mexico & What’s Required

    There are multiple reasons why borrowers in New Mexico turn to Premier Title Loans when they need fast cash. For one thing, a car title loan allows anyone to cash out the equity from a paid off car or truck, and loan amounts can approach $15,000 for high value vehicles.

    Besides the fact that you can use a vehicle as collateral, you won’t need good credit to qualify for a title loan. That’s because your car serves as the security for a title loan, and most qualified applicants can pull out 40% to 60% of their vehicle’s equity with a title loan. Pick up your funds in person in  24 hours or less if you live in Albuquerque or Roswell and most borrowers can have cash sent to their bank account in one business day!

    You may be wondering how these loans work in New Mexico, and they’re pretty simple when you realize that your car’s title is the main requirement! The car has to be titled in your name and paid off, and you’ll sign over the vehicle’s title to a lender while paying them monthly.  Customers with bad credit can qualify because the underwriter looks at your vehicle’s equity, not your credit score!

    The requirements for a car title loan in New Mexico include proof of income with employment records or bank statements showing you can afford the monthly payments. Some companies will ask for proof of registration, vehicle insurance coverage, and proof of a recent vehicle emissions test in New Mexico. All these requirements are minimal compared to what you need for a personal loan, and most applicants can get underwritten for a title loan in just a few hours!


    Loan Amounts, Interest Rates, and Fees For Online Title Loans in New Mexico?

    Loan amounts for a car title loan depend on the current resale value of your car or truck. For instance, if you own a car worth $20,000, you can expect a funding amount between $7,000 to $12,000. The average auto title loan amount in New Mexico is $4,500 as of 2024, and the minimum amount you can borrow is $2,500.

    The rates and fees for car title loans in New Mexico depend on the lender, but you should expect an APR of 36% or lower for loan amounts under $10,000. These terms are based on 2023 regulatory changes that capped interest rates at 36% for most small dollar loans in NM. In addition, there may be other fees, such as an origination fee, a processing fee, or a pre-payment penalty fee. Be sure to ask about all costs before you agree to take out a title loan and try to negotiate your interest down after making a few on time payments.

    Another option to consider with New Mexico title loans is to refinance your current lending terms with a better interest rate and quicker payoff time. At Premier Title Loans, we can get you a more manageable repayment term with a quick refinancing quote, and this is now easier than ever as interest rates are limited to 36% for all new loans. Are you dealing with a high interest title loan or just looking to pay off your debt quicker and get your car’s title back? Contact Premier Title Loans at 800-250-6279, and we’ll get you a refinancing estimate in minutes.


    Welcome To NM sign - The Land Of Enchantment.


    Car Title Loans With Bad Credit In New Mexico

    Using a vehicle as collateral for a loan is not ideal, and this type of loan can worsen your situation if you default on the payments and lose your vehicle. But what can you do if you have poor credit and can’t get a loan with an unsecured lender? The bottom line is that title loans are ideal for someone with a bad credit history. While personal loan lenders in New Mexico focus on your credit score when underwriting a loan, a title loan company is focused on the equity in your vehicle and your ability to pay down the amount borrowed. Auto title loans work for all types of FICO scores, and it’s likely you won’t even deal with a credit check!

    In some cases, you may have a soft credit check or be asked about existing loans. However, this is often to look for past bankruptcies or severe credit issues, like a repossession or judgment, that may result in a lower funding amount with your loan. Even with all that, a New Mexico title loan company will not be overly concerned if you have poor credit!


    Get A New Mexico Car Title Loan – Apply Online With Premier Title Loans

    Applying with Premier Title Loans in NM is straightforward for anyone with a lien-free vehicle! You can complete the entire application from your home, and then you’ll bring in your vehicle for inspection, sign the contract, and get your cash. Some companies will let you bypass an inspection with video proof of the car showing it’s in good condition with no mechanical problems!

    One drawback to applying online is that you cannot control how the banks handle the direct deposit or ACH payments. For example, if you applied for a title loan on a Sunday or holiday, the funds might take 1-2 days to hit your bank account after signing the loan documents. Regardless, you’ll get cash much quicker with a title loan than if you had applied for a personal loan or cash advance!


    Fast Cash Today With New Mexico Title Loans Online

    Anyone looking to get cash for their car title can apply with Premier Title Loans for a title loan in New Mexico. Use our online form to submit your vehicle information, contact details, and requested loan amount, or call 800-250-6279 to complete everything over the phone! We’ll get you a quote in less than 10 minutes, and you can borrow $2,500 or more with a paid-off vehicle!


    Other Cities In New Mexico:


    Albuquerque, New Mexico