What's The Most I Can Get On A Title Loan?
If you're facing a financial emergency, you may ask, "What's the most I can get on a title loan?" Whether it's medical expenses or utility bills, South Carolina title loans are a quick and easy option to get emergency money for your urgent needs.
Auto title loans allow you to borrow money based on the value of your vehicle. While it may seem impossible to work out a final amount, we'll divulge the factors that affect your vehicle's value. That way, you stand a better chance of estimating how much you can borrow with one of our auto title loans.
What's The Most I Can Get On A Title Loan?
Our title loan limits range from $601 to $15,000. However, the specific amount you can borrow depends on your vehicle's value.
We evaluate various factors when deciding how much your car, truck, or van is worth. Understanding these components is essential to estimating the amount of money you can borrow.
What's the most I can get on a title loan? The answer lies in how your vehicle ranks in the following categories:
1. The Vehicle's Make And Model
Some makes and models (think Chevrolet, BMW, Mercedes, Lexus, Tesla, etc.) come with premium features that increase the amount you can borrow.
If you own a luxury or higher-end vehicle, you will likely obtain a more significant loan amount. On the other hand, holding a run-of-the-mill car allows you to get smaller loans for less expensive emergencies.
2. The Vehicle's Age
Your car's age is one of the main things we look at. Cars are depreciating assets, meaning they lose value as they age (unlike houses, which appreciate over time).
With that in mind, the older your vehicle, the less it's worth. However, exceptions do exist. For instance, classic cars might be worth more than their younger cousins.
3. The Vehicle's Odometer Reading
Generally, the higher your car's mileage, the less it's worth. However, we consider the odometer reading alongside the vehicle's age.
The average mileage is roughly 10,000 to 12,000 miles per year. Therefore, a one-year-old vehicle with 15,000 miles on the clock is considered high mileage, reducing its value.
4. The Vehicle's Service History
A complete service history means your vehicle is less prone to major breakdowns. So, we value these higher than cars without an up-to-date service book.
5. The Vehicle's Condition
We look at the cosmetic and mechanical condition to establish its worth. Everything from loose wheel bearings to stained interiors can decrease the value.
6. The Vehicle's Modifications (If Applicable)
Spoilers, decals, and custom bodywork can reduce the overall worth of your car, putting you in the running for smaller loans.
How To Get Auto Title Loans With Carolina Title Loans, Inc.
Now you know the answer to your burning question — what's the most I can get on a title loan? — it's time to learn how you can get one of these loans from us.
Our process is wonderfully simple, ensuring we never waste your time and allowing you to get on with your life as quickly as possible.
All you need to do is follow the steps below to get a title loan from us at Carolina Title Loans, Inc.:
- Complete the online form on our website. Since we also offer installment loans, please select the right loan from the menu.
- We'll call you to discuss the requirements and set up a meeting location. You don't have to come into the store. We can come to your home or workplace at a time that suits you.
- Ensure you are at the agreed location on time and remember to bring the requirements. We'll go through these on the phone, but we'll list them here for your convenience:
- Driver's license or another form of state-issued identification like a passport or military dependent's ID card
- Your car, truck, or van
- Your lien-free title to your vehicle
We will review your documents and quickly inspect your vehicle to establish the amount of money you can qualify for. If you're happy with the amount we offer, we'll ask for your signature on a couple of documents.
Congratulations! You've completed the auto title loans process; you'll get the emergency money you need on the same or the next business day.
Get Auto Title Loans Right Now!
What's the most I can get on a title loan? You can borrow as little as $601 or as much as $15,000 from our auto title loans. However, the specific amount you will gain approval for depends on the value of your vehicle.
You can use the factors we discussed to estimate whether your vehicle will allow you to borrow the amount you need for a financial emergency. If you decide a title loan is right for you, complete our online inquiry form to kickstart the auto title loans process. One of our trusted representatives will be in touch to walk you through the procedure.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.