woman thinking about getting title loan

Can I Get A Vehicle Title Loan If I Have Existing Debt?

If you have existing debt, you might wonder whether you can obtain a vehicle title loan while paying off your previous debt. And while you can, it's worth understanding that it isn't necessarily the best course of action (depending on your situation, naturally). 

Vehicle title loans can be a cashflow option if you’re facing a financial emergency. However, if you have previous debts to repay, you should proceed with wisdom. Keep reading to discover whether you can get a vehicle title loan while repaying other debts.

How To Obtain A Vehicle Title Loan With Existing Debt

You can obtain a vehicle title loan at Carolina Title Loans, Inc. while paying back existing debt because we don't rely on your credit rating to establish your affordability. However, we always encourage our customers to think long and hard about whether they truly need this loan to help them out.

Justifiable Reasons For Getting A Title Loan From Us

Naturally, not every situation justifies getting a title loan, especially if you have other routes to find funding. For instance, your family and friends may be willing to help you if you're in a financial pinch — all you have to do is ask.

That said, we understand that it could be a difficult conversation to have. After all, many people like to exude the persona that they have "got this," even when they don't. And that's okay! But if you never ask, you'll never know whether they have the funds and want to help you in your time of need.

If you decide to go the friends and family route, ensure you draw up a written contract. It should avoid ambiguity to ensure you and your friend or relative are on the same wavelength; you'll get the money you need, and they'll receive their money back within a specific timeframe.

However, this isn't an option for everybody. And thus, you can turn to car title loans from Carolina Title Loans, Inc. for quick help.

man wondering about vehicle title loan

Our customers take out these loan types for various reasons. But the most common (and justifiable) situations are as follows:

  • Veterinary care for their pets that aren't covered by pet insurance or is an emergency.
  • Medical bills not covered by health insurance.
  • Home repairs, including gas leaks, burst water pipes, and leaky roofs.
  • Car repairs on another vehicle in the household.
  • Utility bills that are higher than normal.

Of course, other emergencies justify taking out title loans, but it's up to you to decide whether you need the money immediately. If your situation can wait a while before being paid, you might be better off finding another funding source.

Our Title Loan Requirements

Since we have established that you can have existing debt and still be in the running for a title loan, you're probably wondering what requirements we do have.

Interestingly, there are only three. We never ask you to contend with long lists of requirements. Instead, you'll only need to supply a vehicle (note: we only work with vans, trucks, or cars), ID, and a lien-free title.

Unfortunately, you can only get a title loan if you own your car, van, or truck outright (as proved by your lien-free title).

You must also ensure the name on your identification matches the name you provide us on your forms and your vehicle's title. If your car is titled under a different name, you must ask the DMV to transfer it. As soon as it's in your name, you can apply for a title loan from our Carolina Title Loans, Inc. store.

How To Get A Vehicle Title Loan From Carolina Title Loans, Inc.

With the requirements sorted, here's how our title process works:

  1. Submit the online form on this website. This registers your interest in getting a title loan.
  2. Make sure your phone is nearby as we'll call to discuss everything and find out where you prefer to meet. You won't need to head to your local store; we can meet at your home or your office if you prefer.
  3. Wherever we meet, ensure you have the title loan requirements with you. We can't approve you without them!
  4. We will verify your vehicle's value by assessing its age, make, model, odometer reading, cosmetic condition, mechanical condition, and service history.
  5. We will request your signature on several forms if you can get a title loan.
  6. Finally, you will obtain the money you qualified for on the same or the next business day.

couple happy about vehicle title loan

Secure Your Vehicle Title Loan Here!

Getting a vehicle title loan with existing debt is possible — and probably much easier than you imagined! They're undoubtedly an option if you're struggling to make ends meet. So, complete our online form right now, and one of our representatives will help you get the loan you need to cover your emergency.


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

Mason Roberts

Mason Roberts is a seasoned economics writer and blogger with a knack for breaking down and simply communicating the ever-changing world of finance. He is philosophically committed to the premise that financial knowledge equals financial freedom.