frequently asked questions
Who uses North American Title Loans
There are wide varieties of people all over the country that can benefit from the quick cash of a title loan. Many small business owners can use the fast cash to purchase supplies or cover surprise expenses. Realtors and sales professionals often times have to wait for commission checks so they use a vehicle title loan to ease cash flow bottlenecks!
What is a title loan?
A title loan allows you to borrow money using your vehicle as collateral. There are no credit checks and the approval process is a quick and easy. All you need your vehicle, its free and clear title, photo ID and the ability to repay.
What do I need in order to get a loan?
To apply, you will need photo identification, such as a driver’s license, your vehicle and its title (free and clear of liens).
How do I know if my vehicle's title is free and clear?
A car title that is free and clear will have no one listed as a 'Lienholder' or will simply say 'No Liens' on it. To be sure, you can always call the company that issued the original car loan. If you have further questions, you can call us at 877-511-CASH (2274) and a title loan agent in your area will be happy to assist you.
What if there is another name on the title in addition to mine?
If there is another name listed on your title, they will need to be present at the store when you come in to receive the loan from us.
How much can I borrow?
Loan amounts can vary by state, with a range from $100 to $10,000. Your ability to repay and the value of your vehicle will affect how much can be borrowed.
How does the process work?
The process is easy. Simply come into one of our many convenient locations near you and complete a short application, be sure to bring your photo ID, vehicle and its title. North American Title Loans will work with you to evaluate your needs, budget and do a fast assessment of your vehicle. A Customer Service Representative will then review all the terms and conditions of the loan with you, answering any questions you may have. After, you will simply sign your paperwork and be on your way with your vehicle and cash in hand!
How long does the title loan approval process take?
Usually, the entire process takes about 20 minutes from beginning to end.
Is there a maximum loan amount?
The maximum amount in most states is 10,000. However, several states have maximums below $10,000.
Is it better to begin the title loan process in person or online?
North American Title Loans wants to make that process as convenient as possible for you. We give customers the option to begin the loan process online. If you do choose to get a quote online, we can pre-qualify you. Following the pre-qualification a Customer Representative will call you in order to discuss finishing the loan process at a location nearest you. If you prefer to begin the title loan process by phone, you can call us at 877-511-CASH (2274).
Will I still need to visit a North American Title Loans location if I apply online?
Yes. All customers must visit a North American Title Loans location. This is so a representative can evaluate your vehicle while you sign paper work and most importantly to receive your cash!
Why does the online application ask for so much information?
We require some basic information about you to begin the pre-approval process: your name, telephone number, income, year/make/model of your car, etc… The more information that you can provide online, the quicker we can process your title loan when you arrive. The other information that is asked, but not required, can be reviewed at a North American Title Loans location with a Customer Service Representative.
Is my personal information safe with North American Title Loans?
Absolutely. We comply with state and federal privacy laws, as well as the Gramm-Leach-Bliley Federal information safeguarding law.
I am self-employed. Can I get a title loan?
Certainly! Title loans are a great way to get working capital to replenish supplies or pay any surprise expenses! Many of our small business customers are self-employed and use titles loans to keep their businesses running!
Can I get a title loan if I am unemployed?
Of course! We consider several factors when you apply, such as your start date for an upcoming job, income of someone who may co-sign on your title loan, or any unemployment benefits! We will not and cannot discriminate against a borrower’s source of income by federal law.
Does it matter if my credit score is low?
No. A title loan is granted against the value of your vehicle. We believe that owning a vehicle free and clear verifies your creditworthiness.
If I do not pay my loan back, will my car be repossessed?
North American Title Loans will work with our customers in any way that we can. A repossession is only used as a final measure. Repossession for a non-payment of a loan is uncommon, but can occur. After all, an automotive title loan does use your vehicle as a collateral.
Is there a prepayment penalty?
Absolutely not! There are no prepaid penalties with North American Title Loans.
How can I make payments on my title loan?
We offer several options to make it convenient for customers to pay. Almost all of our locations accept cash, money orders, cashier’s checks, debit cards and Western Union. Our knowledgeable Customer Service Representatives will review all of these payments options with you at the time you retrieve your loan. You may also make a payment online by clicking here.
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