How Much Can I Borrow?
Title loans are given to sub prime borrowers using their vehicle as collateral to help meet an immediate need. The amount you are able to borrow will vary by lender and program. The amount of auto title loan is based upon the age, mileage and trade-in value of your vehicle. In most cases the lender will inspect your vehicle’s condition or look up the VIN as well which will be a determining factor in your loan amount.
It is important to do your own research and know the approximate value of your car before approaching a lender to make sure you borrow what the car is worth. Kelly Blue Book can help you in this assessment. Most of the time lenders use the trade in value as the main determinant of the amount of your loan. They want to know what they will be able to get get back out of your vehicle if you are unable to make the payments. Even after the trade-in value the lender will usually offer 25 to 50 percent less than the value.
Some states put regulations on the interest rates or loan amounts offered. See our state restriction section to see if your state is regulated. The more collateral in your vehicle the easier it will be to get a larger loan. Make sure you apply with a lender who is competitive and offers as close to what you are needing as possible. If you are ready to begin please apply to the application on the right and we will connect you with a reputable car title lender.