ONLINE CAR TITLE LOANS
IN TENNESSEE!

Title Loans In Tennessee – How They Work & What’s Required

Are you having a tough time getting approved for an unsecured loan in Tennessee? Perhaps it’s time to consider a title loan that uses your vehicle’s equity as collateral. Title loans have been widely used in Tennessee over the past few years, as you don’t need good credit to qualify and can borrow emergency cash by tapping into your car’s equity. You’ll hand over the car’s title to your lender, which will be held as collateral until the loan is fully repaid.

With Premier Title Loans, anyone with a lien free vehicle has a chance to pre-qualify for a title loan in Tennessee, and the requirements are relatively simple. You must be at least 18 years old, hold a valid government-issued ID, and provide proof of vehicle registration to qualify. You must also own the vehicle outright, meaning no one else is listed as a lienholder with Tennessee Driver Services. You need proof of income, which often involves submitting bank statements or employment records. Finally, your car must be in good condition and have a clear title – you have the best chance of approval with a car valued at $4,500 or more. Lenders may also rund some credit checks to ensure you have no past bankruptcies and no existing title loans with other companies.

Vehicles That Qualify For A Title Loan In TN, And How Much Can I Get?

Almost any registered vehicle in Tennessee can be used for a title loan, including cars, commercial trucks, and motorcycles. Funding amounts depend on the vehicle’s current value, so it’s vital to have an accurate vehicle valuation before applying. If you still owe money to your lender, you won’t have possession of the pink slip, making it hard to get approved for any title loan requiring a paid off vehicle.

Loan amounts for a Tennessee title loan are mostly based on the vehicle’s resale value. Title loans are typically offered for 30% or more of the Blue Book value of your vehicle, and the maximum loan amount for a title loan in Tennessee is $2,500.

You may need to bring in your vehicle for a quick inspection to determine an accurate loan amount. During the inspection, your car will be checked for mechanical issues that could lower it’s resalve value, and your lender may take it for a test drive. It only takes about 45 minutes to inspect the car and most customers can sign the contract and collect their funds during the same visit!

Regulations For Tennessee Title Loans

Title loans are allowed in Tennessee, but there are restrictions on the maximum loan amount and repayment terms. The Tennessee Title Pledge Act regulates title loans within the state and the maximum loan amount is $2,500. Loans are initially issued with a 30-day repayment term, which can be continuously renewed with some restrictions. For instance, once you get to the 3rd renewal, you must pay a portion of the original amount in addition to any fees and interest as allowed by the Tennessee Title Pledge Act. Licensed title loan companies in Tennessee can charge a fee of up to 20% of the remaining principal amount per month, in addition to 2% monthly interest.

How Does The Title Loan Process Work In Tennessee?

The agents at Premier Title Loans can process and underwrite your application for an auto title loan in Clarksville, Gatlinburg, or Nashville quickly, often within a few hours. Assuming your vehicle is paid off and you have verifiable income, you stand a good chance of being pre-approved within 1 business day.

To complete your title loan application in Tennessee over the phone, simply call us at 800-250-6279. Alternatively, you can submit your information using our online application. We need your vehicle’s make, model, and year to provide you with a quote. After that, we’ll let you know how much money you qualify for.

Getting Your Money From A Vehicle Title Loan In Tennessee Straight To Your Account

Your lender can wire the money straight to your bank account if you are approved for a vehicle title loan. Once the funds are in your account, you can use them as you see fit. Other customers in Tennessee can pick up a money order or get cash in person at locations in Nashville, Lynchburg, or Murfreesboro. Some companies can send the funds by direct deposit to a debit card or prepaid card within one business day.

Use your loan proceeds for financial emergencies or pay off other loans; it’s entirely up to you! Unlike some equity lenders that give you access to revolving credit, a car title loan lets you borrow cash with your car as collateral.

Apply For A Car Title Loan Online Or From A Local Lender In Tennessee

Once you decide that a title loan is for you, the next step is to determine how you want to apply. Some people choose to fill out an online application with Premier Title Loans. Others prefer to apply in person at various locations throughout Tennessee. You can find local lenders in larger metropolitan areas, such as Nashville and Chattanooga. Other cities, like Knoxville, have fewer retail offices within their city limits, but multiple lenders are within a short drive.

Whatever route you take, remember that Premier Title Loans is here to help get your loan funded in Tennessee. We’re happy to help you apply online 24/7, over the phone at 800-250-6279, or at any location offering title loans in Memphis or Clarksville! We work with multiple lenders in the area, so we can typically pre-approve your application within hours of receiving your application.