How are car title loan amounts determined?

Car title loan amounts are determined based on several factors that evaluate the value of your vehicle and your ability to repay the loan. Lenders use these factors to assess the risk involved in providing you with a loan and to determine the maximum amount they are willing to lend you.¹

How Does a Lender Determine the Loan Amount?

Here’s how car title loan amounts are typically determined:

Assessing the Value of Your Vehicle

The primary factor in determining the loan amount is the value of your vehicle. Lenders will assess the market value of your car, truck, motorcycle, or other eligible vehicle. The value is determined by factors such as the make, model, year, mileage, condition, and any modifications. The higher the value of your vehicle, the higher the loan amount you may be eligible for long as you can provide proof of income.¹

Loan-to-Value Ratio

Loan-to-value ratio is used to calculate the maximum loan amount. This formula represents the percentage of your vehicle’s appraised value that the lender is willing to lend you.

Monthly Income

Lenders will consider your income and ability to repay the loan. They may ask for proof of income, such as pay stubs or bank statements, to ensure that you have the means to make the loan payments.

State Loan Regulations

The maximum loan amount for car title loans can also be influenced by state regulations. Some states have specific laws that cap the loan amount or limit the percentage of the vehicle’s value that can be borrowed.

Lending Policies

Each lender may have its own policies and guidelines for determining loan amounts. Some lenders might offer higher loan amounts or have more flexible criteria, while others may have stricter limits.

Terms of the Loan

The length of time you have to repay the loan can also impact the loan amount. Shorter loan terms may result in lower loan amounts, as the lender wants to ensure that the loan can be repaid within a reasonable timeframe.

How Can I Determine if An Auto Title Loan is Right for Me?

Before taking out a car title loan, consider whether the loan amount meets your financial needs and if you’ll be able to repay it within the agreed-upon terms. Also keep the interest rates and fees associated with the car title loan in mind, since these can impact the overall cost of the amount you must repay. If you decide to proceed with a car title loan, ensure that you fully understand the terms and conditions before signing the agreement.

Find Out if You Qualify

At Fast Money Car Title Loans, we can connect you with a reputable lender who can provide a car title loan based on the value of your vehicle and other factors. We take great care in vetting the lenders in our network to ensure you work with one that offers you the loan you need, with reasonable terms and payment options⁴.

To learn if you qualify for a car title loan, fill out the form on this page to get started⁵. Our customer service staff will respond promptly to answer any questions and connect you with lenders that can help you secure the loan you need, as quickly as possible.

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DISCLAIMER:

The Fast Money Help website does not offer or provide loans; rather, it offers a service. This website does not endorse any lenders or partners, and it does not charge visitors any fees. The website owners do not inspect or evaluate the applications of potential lenders, and they do not approve or deny credit applications.

The Fast Money Help website gathers applicants’ personal information and transmits it to lenders or partners that are part of the site’s lending/partner network. There is no obligation to use this website, whether to initiate contact with site operators or to attempt to secure financial products or services with any of the site’s lending partners. Transmission of your financial and personal information on the website in no way obligates lenders or partners to offer you a loan or any other kind of credit product or financial service. Be aware that cash transfer times can vary depending on the lender and the bank you use. Under certain circumstances, faxing information may be necessary.

All questions about loans and any concerns you may have should be directed to your lender or loan servicer. These loans are intended as short-term financial solutions to satisfy borrowers’ needs for immediate monetary relief. This is not intended to be part of a long-term financial plan for individuals. These services are not offered in all states. Potential borrowers may undergo credit checks if lenders or partners choose to use any of the major credit reporting bureaus, including Equifax, Trans Union, and Experian.

They may also use other alternative sources to check credit ratings. Your request for a loan or financial product constitutes your agreement and acknowledgment that (A) your personal data may be shared with lenders and perhaps other third-party partners, and (B) lenders can acquire credit bureau reports that detail your credit history. Reports from major credit bureaus, such as Equifax, Experian, and TransUnion, may be obtained and used to evaluate your reliability as a borrower.

* The locations mentioned are Fast Money Help partner locations.

Loan amounts by the lenders vary based on qualifications.
Since we do not lend money directly, we cannot offer you a solicitation for a loan or financial product/service. In all serviced states, we WILL connect you with a lender or partner based on the information you provide on this website. We will not charge you for this service, and our service is not available in all states. States that are serviced by this website may change from time to time and without notice. Personal unsecured loans are not available in all states and all areas.
Loans, such as auto title loans, typically do not have pre-payment penalties, but we cannot guarantee that every lender meets this standard. Small Business Loans typically do have pre-payment penalties and occasionally will use your car as collateral to secure the loan. Other types of loans may have pre-payment penalties as well.
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The number of people applying for loans, financial products, or financial services we are able to assist is not the same as the number of people who are eligible to receive them. We cannot guarantee we will find a lender who will fund you.

We also cannot guarantee that our partners will be able to help you access a financial product or service(s) offered by them. Just because you give us information on this website, in no way do we guarantee you will be approved for a car title loan or any other type of loan or financial service. Not all lenders can provide loan amounts you may see on this website because loan amounts are limited by state law and/or the lender.

Some lenders may require you to use a GPS locator device on your car, active all the time, in the circumstance of an auto title loan. They may or may not pay for this or charge you for this. This is up to the lender, and we have no control over the lender’s policy. Typically, larger loans or higher-risk loans use a GPS if they are secured by collateral.

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Loans such as Car title loans are expensive, and you may have other ways to get funding that is less expensive. These types of loans are meant to provide you with short-term financing to solve immediate cash needs and should not be considered a long-term solution. Residents of some states may not be eligible for a loan. Rejections for loans are not disclosed to our firm, and you may want to contact the lender directly.

Car title loan lenders and other lenders are usually licensed by the state in which you reside. You should consult directly with these regulatory agencies to ensure your lender is licensed and in compliance. These agencies are there to protect you, and we advise making sure any lender you receive money from is fully licensed.