You may still be in the process of paying off your vehicle when an urgent financial emergency arises, such as medical expenses, overdue bills, or unexpected travel costs. Title loans can help those who need emergency cash by using their car title as collateral, but can you get a car title loan without your car title?

In this guide from Carolina Title Loans, Inc., we will explain whether you can get a title loan without your car title. We will explain some issues this can cause and how to fix them to make sure you meet title loan requirements to get the quick cash you need.

Can You Get A Title Loan Without A Lien-Free Title?

It is unlikely that a reputable lender would agree to offer you a title loan if you’re unable to put up the title as collateral. If you ever find a lender that is ready to give you money without a title, then the chances are high that it’s a scam. The vehicle title secures the loan, so not having one will prevent the reputable loan lender from having the security that you will repay the loan.

You will also not be able to get a title loan with a lien still on the car title. This is because the loan lender will need to place a lien on the clear car title to process the auto title loan, which they cannot do with an outstanding lien or judgment.

Solving Three Title-Related Problems To Get A Car Title Loan

If you do not have a car title, you may wonder what you can do to get one to use as collateral for an auto title loan. Below, we go over three problems you could face regarding your car title and how you can solve them to gain approval for a title loan. Getting a title loan with a lien-free title is impossible, so follow the suggestions below to help your chances of gaining approval.

The following are three title-related issues you could face and how to solve them:

1. I Don’t Have A Title Copy

Your car’s title is not something you’ll need every day. At one point, you might put the document in a safe place and then forget where you have hidden it. Thankfully, you can initiate a duplicate title request. You can start the duplicate car title process by contacting South Carolina’s Department of Motor Vehicles website or visiting the establishment in person.

You can fill out the form requesting a duplicate title loan to replace the one you lost. The duplicate car title process takes between 15 to 30 days to process. Once you get your duplicate vehicle title, you can use it as collateral for an auto title loan, as long as it has no outstanding liens or judgments.

2. The Car Title Is Not In Your Name

Your car title must be in your name to get approved for a title loan. If your name is not on the title but you own the car outright, you can get the title transferred. Getting a title transfer for car loans allows you to get approved, as you have the car title in your name to use as collateral.

You can do a car title transfer at your local DMV office. Bring the original title that was completed and signed by the seller. You can complete an application for a title transfer and complete the process by presenting your driver’s license and proof of insurance. You will receive your new auto title via mail in a few weeks.

3. Your Vehicle Title Isn’t Lien-Free

If you still have outstanding loans or debts attached to the vehicle and you do not own it outright at the moment, you won’t be able to get a title loan. You must have a lien-free car title to get approved for a title loan, as the loan lender must place a lien on the title to process the loan. You can continue to pay off your car and get an auto title loan after it’s paid off.

In the meantime, people who need emergency cash can seek an unsecured loan like an installment loan. At Carolina Title Loans, Inc., we offer installment loans for borrowers who do not own their cars outright, allowing borrowers to get approved for up to $1,500 without needing collateral.

What Are The Requirements For Applying For A Title Loan?

Now that you understand why you cannot get a title loan without a lien-free title, you can take the necessary steps mentioned above to get the auto title you need for title loan approval. Understanding the other title loan requirements is vital, as you will need to meet these requirements to get a title loan.

Unlike a lot of other lenders that might require you to bring in proof of income, proof of residence, and a lot of other documents, we are different. Our representatives at Carolina Title Loans, Inc. will only need verification that you are above 18, proof of identity, and proof that you have a lien-free car title.

The following are the required items for a South Carolina title loan:

• Your driver’s license or state-issued ID card
• The lien-free car title in your name
• Your vehicle for a quick inspection

Frequently Asked Questions About Title Loans

How do I get a loan with a lien on my car?

You cannot get a title loan with a lien on your car. Getting a title loan without a lien-free title is not possible. However, there are other loan options available to you. For example, Carolina Title Loans, Inc. offers installment loans for those looking for a short-term loan that doesn’t require collateral.

What happens if I lose my car title?

If you lose your car title, you can go through the duplicate car title process to get another copy. This can give you another paper copy of your car title that you can use for a South Carolina title loan.

Can you get multiple title loans?

South Carolina does not allow borrowers to get multiple title loans at once. A title loan puts a lien on your car title, meaning it’s no longer lien-free. This will prevent you from getting approved for another car title loan in South Carolina.

Why Choose Carolina Title Loans, Inc. For A Title Loan?

At Carolina Title Loans, Inc., our representatives value your time. That’s why the whole loan process has been optimized, so you won’t have to spend more time than necessary on obtaining a title loan. Instead of driving to the store only to submit your general information, you can fill out a form online from the comfort of your house.

If you’d prefer not to come to a store location for a physical vehicle inspection, you can choose where you’d like to meet with the verification agent, such as your home or office. Finally, after you have agreed with the loan terms and signed the last few papers, you may be able to get the much-needed loan amount the next business day or, in some cases, the same day.

Apply For A Title Loan Today – Get Approved For Up To $15,000!

You cannot get a title loan without a lien-free title, but those who have paid off their cars are free to pursue emergency cash through title loans. If you meet the requirements and need to get your hands on the loan money as soon as possible, Carolina Title Loans, Inc. can help with our fast and simple approval process.

Complete an inquiry form online right now to start the process. One of our loan representatives will call you to discuss what you need to do next and how you can get same-day approval with just a few easy steps.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.