You have probably heard about payday loans, right? But did you know that there is something even better – an online title loan with no inspection? Let’s be clear – car title loans are secured loans! That means that the vehicle serves as the collateral for the loan and as such plays an important role in the loan process. Now if you apply for a loan from traditional brick and mortar lenders, they will probably ask you to bring your car for assessment. However, many lenders will approve title loans without seeing the car. In that case, they will ask you to send them pictures of your car so they can assess it and determine the value. In today's article, we are going to talk about the application process for getting a title loan without a vehicle inspection.
How Can I Get a Title Loan Without Bringing in My Car?
Many people have asked can I get a title loan without bringing in my car! Yes, you absolutely can, and today we are going to explain to you how! When talking about this process it is essential to point out that these are completely online title loans with no inspection. That means that the entire process from application to the reception of money happens on the internet. You will not have to go to the lender's office at any point during the process. The good news is that these loans are becoming increasingly accessible. The main conditions to apply for it is that you own a car, have access to it, and have a lien-free title.
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Why You Should Apply for a Title Loan Without Vehicle Inspection?
Once you realize that such an option exists, the question you need to ask yourself is Why do you need a title loan with no car inspection? The reasons of course can vary from person to person.
- For example, you may urgently need some extra money! Now the question here would still be – why you must apply for online title loans without car inspection? One reason is that the application and approval process is simple and fast. It is also possible that there is no lender in your area or that you found a better one online. Apart from that, some people keep valuable cars in the garage that may not be in the same area as the lender, etc. Also, you may borrow your car from someone who went out of town or something like that.
- You can also apply for this type of loan if you have a bad credit score. That is something that would prevent you from getting a loan from the bank. If however, you ask lenders of no inspection title loans, they will use the car as the collateral so they don’t care about the credit score.
- Maybe you have some emergency but you know that you will get the money soon. In that case, you may want to apply for a title loan without a vehicle present and prepay it when you receive the money you were expecting. Lenders, such as America Cash will not penalize you for prepaying the loan.
How Do Title Loans With No Vehicle Inspection Work?
As you know, when you ask for a title loan that includes inspection you have to wait for inspectors to perform the entire task. That is something that takes a lot of time, and hence many people look for an alternative solution such as completely online title loans. Of course, the process is simpler and faster as we mentioned, but these lenders also need to secure their loans. The first part of the application process takes just a few minutes, as you have to fill out and submit the online form with basic information about you and the vehicle. In the second part, you need to provide additional information such as photos of the vehicle (both of the interior and the exterior) the history of the vehicle, a valid car title with a borrower’s name, etc. The lender needs this information to assess the value of the vehicle.
How to Apply For Title Loan Without Vehicle Inspection
As we said, the application is relatively simple and quick. When you visit the lender’s website, you will find the online form that you need to fill out. This will take several minutes. However, you will also need to provide some identification documents, proof of your financial status, and proof of residence. The identification documents can be a passport, ID card, US tax numbers, social security number, etc. Now some people wonder whether it is possible to get title loans with no income proof. It is essential to know that many lenders will be hesitant to approve the loan if you don’t have a job and can’t show who your employers are. However, some do approve loans in these cases as well.
Benefits of No Inspection Title Loans
- You don't have to bring in a car to the lender. Many people see this as the biggest advantage of this type of loan. It is especially convenient if you rarely drive this car or if the lender is far from your area.
- Another big advantage is that it is a completely online process. That means that you don't have to go through the hassle of looking for a lender near you. You can simply choose a lender that offers the best conditions regardless of the location.
Do You Have to Have Your Vehicle Present When You Get a Title Loan?
It depends on the type of lender you choose. If you go to the brick and mortar lender office, they will likely want to inspect the car. Hence you will need to bring in the vehicle. However, if you opt for completely online loans, you don't have to have a vehicle present. You need to send pictures of the interior and exterior, etc., so the car can be evaluated.
What Inspection Do They Do for a Title Loan?
If you bring in the car, they will do a physical inspection of the exterior and interior of the car, mileage, and the quality of material inside the car. When inspecting the exterior they are looking for cosmetic damages. If you go through an online process, the inspection is done based on pictures and the documents you are required to send.
How Can I Get a Title Loan Without Vehicle Present?
As it has already been pointed out, there is an increasing number of lenders who do not require that you bring in the vehicle to apply for the loan. The only thing you need to do is apply online and send the entire required document. Keep in mind that lenders reserve the right to ask the additional documents they deem necessary. Generally, they ask for the pictures and papers of the car, proof of your income, you’re ID, proof of residence, etc. The reasons why many lenders offer these possibilities are convenience and accessibility!