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Online title loans are a fast and easy way to get a title loan without leaving your home. In fact, there is a way to get online title loans with no phone calls. As with all loans, there are both pros and cons.
FTL Title Loans offers multiple types including with and without inspection, with and without phone calls, and with and without a store visit.
You can usually complete an online title loan with no inspection and no store visit from the comfort of your home. This does depend on what state you live in and the particular title loan laws in that state.
An online title loan is similar to a traditional car title loan, except that part of, or even the entire process is completed online instead of in person. The portion of the loan that can be completed online will depend on the state you live in.
For purposes of explaining how these loans work, we will break them into two high-level categories:
We’ll go over each different type of online title loan including similarities and differences below. First, what is required to get a title loan online?
Online title loans have requirements similar to any other title loan from a direct lender. Typically they include the following:
In some cases a lender may also require references. These are to verify that indeed you do own and have access to the vehicle; and it is stored where you claim it is stored.
Additionally, some lenders may also have requirements for items like GPS tracking devices and roadside assistance memberships. FTL prefers to keep it simple and not require excessive items.
Preparation for the online title loan with no phone calls is also highly recommended. Since you will not be having a conversation where you can ask the lender questions, it is important to have everything in order. This includes gathering the required information and using the car title loan calculator to estimate costs.
As stated there are two main categories of online title loans:
For completely online title loans there is no need to drive to a lender’s brick and mortar location. The loan terms are generally similar to a regular title loan, although these will vary based on the lender.
We describe in more detail how each of the different types of completely online loans work below.
Online title loans with no phone calls are completed, as the name would imply, without any phone calls. The entire car title loan process is completed online. Some borrowers are either unable to our just prefer not to have to talk to a title loan representative.
Title Loans with no phone calls require the borrower to fill out all forms and provide all required information online. This is usually done by both filling out online forms and uploading and attaching documents.
The lender will need a method of communicating with the borrower to answer any questions and verify information. This may also include responding to emails and/or text messages.
To apply for a title loan online with no phone calls simply complete the easy application form and check either “text” or “email” in answer to the “How would you like to be contacted?” question.
We should note that a quick phone call with a representative can be faster and result in speeding up both the approval and funding process.
Often, the brief phone call allows the lender to move the loan through quickly. The call allows the lender to verify information and gives you a chance to ask questions.
As stated, this can be done through email or text. Just keep in mind that, if time is a major consideration, a quick phone call can actually save time.
For partially online title loans there is a need to drive to either the lender’s brick and mortar location or a third party location. The loan terms are generally similar to a regular title loan, although these will vary based on the lender.
We describe in more detail how each of the different types of partially online loans work below.
The next category of online title loans are those are are partially completed online. This means that you will need to visit either the lender or a third party representative at some point in the process.
This is usually to satisfy a requirement of the state you live in. For example, some states require the lender to see the car in person and the borrower to sign the physical loan agreement.
For these types of partially online title loans the application process and most of the loan paperwork can completed online, but the borrower does need to drive to the lender to sign the loan documents and have the vehicle inspected and appraised.
In some cases, lenders will have a third party perform this portion of the online title loan. Why? The reason is some states have different rules regarding how a title loan can be made. Also, some lenders have policies that require a physical vehicle inspection.
Even in states where there are requirements like those mentioned above; there are still options to get a title loan with no store visit. Some lenders will come to your location to complete the portions of the loan that are required to be in person such as the vehicle appraisal and loan agreement signature.
The next type of partially online title loan is one with no store visit that does require an inspection by a third party. While no store visit is required, you will need to take the car to the third party appraiser for a brief inspection.
The other type of inspection is one where the lender actually visits your location. In this case, you start the process online and complete part 2 above at your home.
The benefit of having a vehicle inspection is a more accurate value for your vehicle. This is especially important if you need to borrow close to the maximum amount.
If you do not have a title loan location near you this may not be an option. These we consider partially online title loans because showing the vehicle and seeing the lender is required. The benefit is you don’t need to leave your home.
It can be difficult to accurately appraise a vehicle just by looking at pictures. They don’t provide the same level of detail that an in person inspection does.
Step 1 when getting a title loan is applying online.
Step 2 is getting your title loan approved.
Step 3 - Once approved you get your cash.
Do you already have a car title loan and need a better payment and rate? Consider a title loan refinance to get a better payment and lower total loan cost.
FTL Title Loans is your one stop source for online title loan information. Visit us anytime 24/7 for instant online title loans.