WHAT IS A TITLE LOAN?
A car title loan is also known as a title loan, auto title loan, car title loan, pink slip loan, or car equity loan or auto equity loan. The equity in your auto is used as collateral for a loan on lien-free vehicles. When you deal with Capitol Title Loans, you are working directly with a Delaware Licensed Lender, there are no middlemen. We offer consumer loans secured by motor vehicle titles with initial terms of 7 months with a no penalty, pay early option.
Consumer loans secured by motor vehicle titles are typically easier to obtain than other sources of credit because Capitol Title Loans does not check credit scores and the main consideration for the loan is the value and condition of the vehicle.
Most consumer title loans can be acquired in as little as 15 minutes on loan amounts from $200 to $5000.00. Capitol Title Loans does not consider the borrower’s credit score. The loan is secured by the title to the vehicle.
HOW DOES IT WORK?
Your Car is Your Credit
- Bring your car and lien-free title to Capitol Title Loans.
- Complete our easy application and documentation.
(We NEVER Check Your Credit Score).
- Capitol Title Loans will appraise the value of your car. Your cars value can then be used as collateral.
- Capitol Title Loans gives you money for the loan. You keep using your car.
- Once your account is paid off Capitol Title Loans releases the lien on the vehicle. You get the title back.
WHAT IF I HAVE BAD CREDIT?
NO CREDIT SCORE is required. At Capitol Title Loans – We NEVER check Credit Score.
Your credit will not be affected by applying for a title loan in most cases. Because we do not even consider credit scores, you can still qualify; even with bad credit or discharged bankruptcy.
Capitol Title Loans doesn’t run you though the three major credit reporting agencies; we don’t order your FICO™ credit score. Your credit score does not matter to us and will not be affected by applying for a title loan with Capitol Title Loans. We may at our discretion, make use of other publicly available consumer information from various sources, verify information provided with each application and subscribe to other risk assessment services.
HOW MUCH MONEY CAN I BORROW?
Consumer Title Loans amounts vary based on the vehicle appraisal and other factors. Capitol Title Loans can offer the Maximum Value on Your Title. Where other lenders may offer as little as 20- 30% of your vehicles wholesale value, Capitol Title Loans can lend you up to 50% or more of its wholesale value. The difference could mean hundreds or even thousands of dollars in your borrowing ability.
HOW LONG DOES IT TAKE FOR ME TO GET CASH?
Capitol Title Loans is a Direct Lender. Our in house processing means you can get cash in minutes. That’s right, we lend up to $5000 in as little as 15 minutes.
WHAT DO I NEED TO APPLY FOR A TITLE LOAN?
Capitol Title Loans makes approvals easy so you can get cash fast.
To apply you must be at least 18 years old and provide the following:
- Lien-free title
- Working phone/cell phone
- Valid Driver’s License
- Current Automobile Insurance
- Current Vehicle Registration
- Spare key to vehiclemay be required in some cases.
- Please call during business hours to make certain you have all the correct items.
HOW DO I GET MY TITLE BACK?
Once your account is paid off Capitol Title Loans releases the lien on the vehicle and you get the title back.
ARE TITLE LOAN RATES CONSIDERED HIGH?
As a Direct Lender, Capitol Title Loans can offer the most competitive rates on consumer title loans. Your loan rate is fixed throughout the entire term. Plus Capitol Title Loans never charges an application fee, so it’s free to apply. And, we offer big savings with free services – there are no prepayment penalties, no upfront fees, and no fees for services like pay by phone.
Most banks are not willing to lend anything without a credit check or on many used cars due to age or mileage. Capitol Title Loans Consumer Loans can be cost effective versus other scenarios such as bounced checks, disconnected utilities, eviction or foreclosure.
WHAT IF I AM LATE WITH A LOAN PAYMENT?
If you simply cannot make your payment on time you have a 10-day grace period. Payments made more than 10 days late may be subject to a late fee. If you become too late or non-responsive, we have the right to repossess and sell your vehicle. However, Capitol Title Loans considers repossession a last resort due to expense. In the event of repossession borrower will have the opportunity to claim their vehicle. Should the vehicle be sold, excess proceeds from are returned to the customer.
IS THERE AN AGE LIMIT ON VEHICLES FOR A LOAN?
Capitol Title Loans will consider most vehicles, even older ones, for a consumer title loan. We are continuously reviewing loan criteria to better serve all customers. So please contact us – you may be surprised at what we can offer.