Applying for a Title Loan in Indiana Can Be Quick!
Everyone will encounter financial hardship at some point in their lives. You can apply for online title loans in Indiana if you need help accessing money but also suffer from a poor credit score.
The requirements for title loans in Indiana can be simple and convenient to meet! That’s because the inquiry terms can be flexible and accessible to people from various career backgrounds. You don’t need to work a traditional job to qualify for funding, and the approval process can be quick.
Learn more about how to apply for an online car title loan in Indiana and what requirements are involved! You can begin your application for a title loan by filling out this pre-approval form or calling to speak with a title loan agent.
What are the Requirements for Online Title Loans in Indiana?
Title loans are secured because a borrower uses their vehicle as collateral for money. This option can be a great way to access cash quickly, but it is essential to remember that the lender can repossess your vehicle if you cannot repay the loan. Additionally, you should be sure only to borrow what you can afford to repay and to make payments on time.
If you struggle with your credit score as an Indiana resident, applying for an online title loan could be an excellent way to access funding! Because title loans are secured, your credit score may be insignificant during approval. A lender will check your credit, but they are more concerned with how much equity you have in your vehicle and whether you can repay the loan on time.
The equity in your car is the difference between the amount you owe to the bank or dealership and its overall value. The lender will evaluate the vehicle and decide the loan amount based on the equity in the car. The borrower can then receive a loan in exchange for a lien placed on the vehicle title. After repayment is complete, the lien is removed by the lenders!
If you want help determining car value before applying for an online title loan in Indiana, you can use websites like Edmunds.com to receive market value estimations.
Who Can Apply for a Car Title Loan in Indiana?
In Indiana, car title loans are available to people struggling with credit scores. However, they also must be at least 18 years of age or older to apply, provide proof of steady income, and have a car with positive equity. You may not qualify for this loan option if you don’t have one of the criteria mentioned.
In addition to meeting the initial requirements, interested borrowers must submit the necessary paperwork to proceed with a title loan application. Thankfully, most adults have these documents, and gathering them may not be difficult! For a car title loan in Indiana, you must submit the following paperwork:
- Government-Issued Photo ID: You can use a driver’s license, passport, or state-issued photo ID card.
- Proof of Address: You must prove your residency for an online title loan in Indiana! You can use a piece of official mail, like a lease agreement or bank statement.
- Proof of a Qualifying Vehicle Title in Your Name: A qualifying vehicle title in your name is required to proceed with a title loan agreement. This option depends on using the vehicle title as collateral for funding. If you need help replacing your car title or transferring one to your name, contact your local DMV office.
- Proof of Consistent Income: Consistent income doesn’t necessarily mean you must be employed. You can apply for a title loan in Indiana without a job! As long as you can prove you have a steady income, like Social Security benefits, workers’ compensation, or settlement income, you can proceed with your inquiry!
- Recent Photos of the Vehicle: Submitting recent photos of your vehicle will serve as the virtual inspection for lenders. Instead of taking your car to an in-person location, you can complete this step online! Title loans can be convenient options for people who need money quickly.
Apply for an Online Car Title Loan in Indiana Today
As an adult, most people will struggle with money, including residents of Indiana. If your credit score is low and you can’t apply for a traditional bank loan, you may feel out of options. The good news is that you can inquire about title loans online! Qualified borrowers may receive access to funding within one business day of starting. Begin the application today by filling out the pre-qualification form or calling to speak with a title loan agent.