Yes, applicants can be denied title loans if they do not meet certain requirements. When you apply for a car title loan, the vehicle that is being used as collateral needs to have a lien-free title. If the car has no equity, it is unlikely that the applicant will qualify for the title loan.

Can I get a title loan on a car I just bought?

If you are trying to get a car title loan and you only have the bill of sale from your car’s transaction, you might be wondering can you get a title loan with just the bill of sale. Unfortunately, you cannot get a car title loan with just your bill of sale.

Does TitleMax do a credit check?

TitleMax® does run credit checks on all new applicants, but that may not disqualify you for a personal loan or title-secured loan/pawn. When you need money unexpectedly, it’s a good idea to look for loans that offer flexibility for people with bad credit. Just look to TitleMax for lots of great options.

How much can you get for a title loan in Texas?

How much can I borrow? Your title loan amount depends on the value of your vehicle. The maximum you can obtain is $15,000*.

What do I need to get a title loan on my car?

Documents You’ll Need

1. Original vehicle title showing sole ownership.
2. Government-issued identification matching the name on the title.
3. Utility bill or other proof of residency matching the name on the title.
4. Current vehicle registration.
5. Proof of vehicle insurance.
6. Recent pay stubs or other proof of ability to repay the loan.

What happens if you miss a TitleMax payment?

If you don’t make timely payments, the lender must send you a “Notice of Right to Cure” before repossessing the property. After the lender sends the notice you have twenty (20) days to make the missed payment(s). This pamphlet is meant to serve as a summary of your rights and responsibilities under this loan.

Does defaulting on a title loan hurt your credit?

In most cases, a title loan won’t have any impact on your credit scores. That can be good and bad. For starters, most title lenders don’t run a credit check when you apply. If you default on your title loan, the lender is required to comply with the Fair Debt Collection Practices Act.