Reading about loans can be boring, but knowing your options is important, especially if you need emergency cash fast. When you need quick money, car title loans in Delaware are a valuable option. You can borrow from $300 to $15,000 and get money the same day you apply.
Unfortunately, many people avoid title loans because of misinformation. Let’s clear that up by dispelling five common myths about title loans and showing how Delaware Title Loans can help you.
Car Title Loans in Delaware: 5 Myths and Facts
Myth 1: I Need a High Credit Score to Get a Title Loan
You’ll be surprised to hear that you can get a title loan regardless of your credit score. Even if you’ve had bankruptcies, bounced checks, or other credit issues, you are still a good candidate for car title loans in Delaware.
Unlike bank loans that put a lot of weight on credit score, the only criteria for a title loan are that you are the owner of a vehicle with a lien-free title.
In layman’s terms, your vehicle is under your name, fully paid, and does not have any outstanding loans or judgments against it.
If the vehicle is not in your name, you will have to make the trip to the DMV to have it transferred before you even apply for the loan.
Myth 2: I Have to Give Up My Car to Get a Title Loan
Many people think they have to surrender the car the moment they apply for a loan. That’s not true! You can still keep and use your car after taking out a title loan, as long as you follow the agreed payment schedule.
Myth 3: Only Cars Can Be Used for Title Loans
Any vehicle can be used to get a title loan – cars, trucks, motorcycles, SUVs, and RVs. And in case you’re wondering: they don’t even have to be brand-new vehicles or luxury models. If it’s in good working condition, you can use it as collateral for a title loan.
However, the loan amount you qualify for does depend on your vehicle make, model, and condition. This will be determined during your vehicle inspection.
Myth 4: It Takes a Long Time to Get the Money
Do thirty minutes sound a long time? That’s how long processing a title loan takes—and that includes the vehicle inspection.
Compare that to the time it takes to go to a bank, wait in line, explain everything to a bank loan officer, and gather all the documents you need to complete the application. You’ll be lucky to be done in three days, much less 30 minutes.
Myth 5: It’s Hard to Get a Title Loan
Well, that isn’t the case if you come straight to us at Delaware Title Loans. We make sure you won’t have any trouble at all getting through our process. Here’s how we do that:
- Personalized customer service. Do you have any questions about title loans? From the beginning, one of our representatives will personally reach out to you to explain the process and answer any questions you may have.
- Online support. While you can go straight to one of our locations, you can do an initial online query. And unlike customer service hotlines, where you wait forever until you talk to a real person, just submit the form and one of our people will call you back.
- Streamlined process. We have one of the most efficient loan processes in the country.
How to Get a Car Title Loan in Delaware
Our process is so simple, you can just follow this short guide to see for yourself just how easy it is:
- Go to our website and fill out the online form. All information is confidential and will only be used to contact you.
- Wait for a loan representative from the nearest title loan location in Delaware to give you a call to walk you through the process. Feel free to ask questions – we are here to help!
- Bring your driver’s license or state-issued ID, your lien-free title to your vehicle, and your vehicle to the store and have a face-to-face meeting with one of our loan representatives.
- A title loan representative will examine your ID and title and then do a quick inspection of your vehicle. This assessment will determine if you qualify for the loan and the amount you can borrow. If the loan is approved, you will receive the amount you qualify for on the same day.
FAQ: Title Loans
How much can I borrow?
You can borrow between $300 and $15,000 based on your vehicle’s value and condition.
Do I need good credit to get a title loan?
No, title loans focus on your vehicle ownership, not your credit score.
Can I keep my car during the loan?
Yes, you keep your car as long as you make timely payments.
Get Your Car Title Loan Today!
It is a quick, painless process, and one of the easiest ways to get emergency cash. Don’t let some myths coming from people with a lack of complete understanding of title loans keep you away. These loans can help if you are in a real pinch and don’t know what to do. Start your online application now or visit a local Delaware Title Loans office near you!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
