Can I Get A Title Loan With An Older Car?

Sep 21, 2021
Title Loans


Many people applying for auto title loans have the same question: Can I get a title loan with an older car? With Rapid Auto Loans, the short answer is, yes! Why should you be penalized because you don't drive a newer car? But there are some considerations to be aware of. Here's how you can qualify for an auto title loan.

 

We Look At Your Car's Value

At Rapid Auto Loans, we look at the value of your car. We do this by conducting an accurate value appraisal. We consider the following factors:

 

We Look At Your Mileage And Year Model

We take an objective evaluation of your car's mileage and year model. We find value in most cars with a mileage of 150,000 miles or lower. In addition, A car with an approximate age of 15 years or younger will also be considered. This isn't to say that won't if your car doesn't meet these requirements.

 

We Use Online Evaluation Tools 

We also make use of online assessment software. This gives us a market-related evaluation. Our assessment gives clients the peace of mind that they are getting a fair valuation on their car. This will equate to a fair title loan amount.

 

We Compare Value With Your Title Loan Request

Once we have a value in mind, we compare this against the requested title loan amount. A general rule of thumb is for your car to have twice the value of your title loan request. This way, you are protected with a reasonable title loan amount. For example, if you need to borrow $1,000, then your car value needs to be at least $2,000.

 

Our Simple Application Process

So how do you apply for that much-needed title loan? The process is quick and easy. Once you've filled out an online car title loan application or over the phone, we determine the amount you qualify for. In this case, we include your car's value assessment. You'll then set up an appointment at one of our inspection centers. These are based in main centers such as Miami, Fort Lauderdale, and West Palm Beach. The inspection center will then send us the required information for verification. This takes about 30 minutes. Once your application is approved, we'll hand you your check. You can cash your check on the same day.

 

No Credit Checks

Your car acts as collateral for your title loan. Full stop. Your auto loan application is not based on your credit score or your bank account. We understand that your financial affairs are private. We determine the funds available to you based on the value of your vehicle. Chat to us about securing the necessary collision insurance. Our insurance plans are easy and affordable.

 

Easy Payment Plan

We have a dead easy payment plan. You will make a total of 12 monthly payments on your loan. And the first payment isn't due for 30 days from your loan date. You will never be charged a prepayment penalty. And interest is only charged from the time the loan is outstanding. You can pay your installments using one or three convenient options:

  • Mailing it to us
  • Paying on our website
  • Pay at an authorized payment center (selected Walmart or 7-11 stores in South Florida)

Paying your loan shouldn't have to be complicated. All payments are secure, and we will never store your banking or card information.

 

Apply For Your Title Loan Today

With Rapid Auto Loans, you can get quick cash for your older car. Simply complete an application or call us at 954-960-7097. If you have any questions, give us a call, and we'll be happy to assist you. We want to make your application process as stress-free as possible. Like Rapid Auto Loans on Facebook to get the latest updates.

OTHER ARTICLES

loans for bad credit

It can be very common for your credit score to be lower than you’d like it to be if you’ve paid your bills late in the past or have a lot of debt. Bad credit can then put you at a disadvantage when it comes to getting approved for loans in the future. Rapid Auto Loans is here to help you and will approve your loan when nobody else will.

Getting A Loan For Car Repairs

When you need car repairs, there’s no time to waste. You rely on your car to get your kids to school, get to work, and live your life. Being without a car for even one day can be detrimental. That’s why if you need a loan for car repairs, Rapid Auto Loans can help. We don’t want you to be stuck without a car any longer than you have to be.

get cash quick for moving expenses

Moving is an inconvenient but often necessary part of life. Packing up all your belongings can be tedious, but few things are as stressful as the price tag that comes with it. From the cost of cardboard boxes to the moving van, and then the gas to get from Point A to Point B, these costs can add up quickly. You may be worried about how you can afford it all.

Getting A Loan With No Credit

You can never be too prepared, but sometimes life can throw a massive curveball your way. We’re living in an era where your credit score affects how far you can go in life. It’s easy if you can afford the basic cost of living and there are no unexpected surprises. Except sometimes you’ll be hit with an expense that you weren’t prepared for. It could be something small and an easy fix if dealt with immediately.

apply for title loans online

At Rapid Auto Loans, we offer title loans online to those looking for ways to get emergency cash when they need it most. Unlike a payday loan, this loan uses the vehicle’s value as an exchange for funds. We never look at your income or credit score to provide these loans. Ultimately, the amount of money you can borrow with title loans online will depend on the value of your vehicle. The average loan from Rapid Auto is $2,000.

What Can I Use A Car Title Loan For?

Ever have one of those times when you could really use some extra cash? Of course, you have – most people have at some point or another. Every now and then, something comes up that you didn’t plan for, and it costs money to fix. But how can you find this cash, short of robbing a bank? One option is a car title loan.

Rapid Auto Loans is a consumer finance company licensed under Florida 516. The term title loan is used for marketing purposes only.
All loans have a repayment period of 12 months and there is no minimum prepayment penalty. Interest Rates are determined and approved by the State of Florida based on the borrowed amount and the maximum APR (which includes interest rate plus fees and other costs for a year) is 30%. You pay interest only for the time your loan is outstanding. Below is a representative example of the total cost of the loan, including all applicable fees:
3,233.68

APPROVED LOAN AMOUNT

0.00

Government Fee

25.00

Credit investigative Fee

11.55

Documentary Stamp Tax

3,270.23

Total amount Financed

11/1/2016

Original Loan Date

29.07%

APR

316.39

Monthly Payment (x12)

Rapid Auto uses “Auto Title Loans” for advertisement purposes only and provides auto equity loans. The lenders are licensed under the “Florida Consumer Finance Act” under Florida Statute 516 and as such lenders loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of lenders activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.