You can now borrow up to $20,000 with a loan from any of the many title loan places in Virginia. Anyone who owns a vehicle that’s fully paid off is eligible and can apply today. You don’t need good credit to be approved and the process to qualify and quick and easy to follow. Premier Title Loans is ready to help you get a title loan in Virginia, find out what’s required and how to qualify.
What Is Required For Car Title Loans In Virginia?
In order to qualify for a title loan in Virginia, you’ll need to provide some basic information about yourself and your vehicle. You’ll need to provide your name, address, phone number, and email address. You’ll also need to provide information about your car, such as its make, model, year, and mileage. These details are needed so we can give you an estimate of your loan amount and payoff options.
Ultimately the main requirement for title loans in Virginia is your vehicle. Do you own a car that’s registered and titled in your name? If so that’s great and you’ve just checked off the most important requirement. You will need to have possession of your car and the car title when applying. The lender keeps the title to your car as collateral for the amount borrowed and you can keep on driving while making the monthly loan payments.
Some companies may ask for additional items when underwriting your loan. These may include proof that you’re employed and make enough money to handle the anticipated monthly payments. No lender wants to provide funds if you don’t have the means to pay them back. Other forms of income can include annuity payments or state disability/unemployment income. Check with your title loan company to see the exact requirements as you may also need to provide proof of insurance and proof of vehicle registration in VA.
How Much Can I Borrow With A Title Loan In Virginia?
You can borrow up to $20,000 with a title loan in Virginia. The amount you’re able to borrow will be based on the value of your vehicle and your ability to repay the loan. Cars with low miles that are in good condition will have a better resale value and be worth more than a vehicle that’s older with high mileage. Other factors that affect your loan amount can be what part of the state you reside in. Those in larger cities like Chesapeake, can access larger loan amounts simply because there are more finance companies. This allows you to get multiple quotes and ask for higher loan amounts with each firm.
For borrowers specifically looking for title loans in Richmond, we recommend getting at least 3-4 quotes from a variety of lenders. The reason for this is that there are so many companies offering quotes in the Richmond area. It makes sense to get multiple estimates and then use that information to bring down the rate with your desired lender. This doesn’t work every time but it’s beneficial to get a few backup quotes as it may turn out the interest rate is lower!
What Happens If I Can’t Repay My Title Loan In Virginia?
If you’re unable to repay your title loan in Virginia, you may be able to extend the loan terms or refinance the title loan. This will depend on your lender and what their policies are. Premier Title Loans offers a flexible payment plan that can help you if you’re struggling to make your monthly payments. We also work with a number of direct lenders in Virginia so we can find the best solution for you.
If you find yourself in a situation where you can’t repay your title loan, don’t panic. Talk to your lender and see what solutions may be available to you. You don’t want to damage your credit by missing payments or going into default and risking the worst scenario which is a possible repossession. Again, work with your lender to avoid falling behind on payments. There are plenty of firms in Virginia Beach and Norfolk that help customers with a refinance or buyback.
Title loans In VA Are A Great Way To Get Cash If You Have Bad Credit
Even if you have bad credit or no credit history to speak of that’s not an issue for those who apply for Virginia title loans. That’s because no inspection title loans are based on the value of your car, not your credit score, and definitely not because you failed to pay back a few bills over the past decade. This is a great option for those who need emergency cash but may not have the time to go through the long process of getting a personal loan from a bank or credit union.
Most people who apply for an online title loan have already been turned down for a traditional loan offer that requires great credit. Don’t make the mistake of not applying because you’re worried about being rejected. Again, the biggest requirement is that you have a car with equity, not good credit!
How Long Does It Take To Get Cash From A Title Loan Lender In Virginia
The entire title loan process usually takes less than 24 hours. That means from when you first start filling out an application to when you go to pick up your money or have it wired right to your bank account. We’d like to think that’s a fairly swift amount of time to get cash with a title loan in VA and it’s of course quicker than what you would see from a personal loan company that could take upwards of two weeks!
Once you’ve been approved, the money can be deposited into your account as soon as the next business day. This is one of the reasons why title loans are so popular, especially when you need cash quickly. You can also use a title loan to pay off high-interest credit cards or other bills and have one low monthly payment. This timeframe can be even quicker for someone in Richmond, VA as there are a handful of places within the city where you can work with a licensed vehicle inspector and also get the cash in person!
If you’re in need of some emergency cash, a title loan from a state licensed lender in Virginia is a great option. You can borrow up to $20,000 and keep driving your car while making monthly payments to pay down the loan balance. Get started today and see what your car is worth to find out exactly how much money you can borrow in VA!