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Home > How do Title Loans Work – The Complete Guide

How do Title Loans Work – The Complete Guide

How much cash can i get

Find out now. It's fast, secure & free!

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7 Simple Steps to Getting Car Title Loans

Step 1: Comparison – Finding the Right Title Loan Lenders

Step 2: Requirements -Title Loan Requirements

Step 3: Application – Online Application Process

Step 4: Approval – How to Value a Car for a Title Loan?

Step 5: Loan Funding – How to Get Your Title Loans Money?

Step 6: Repayments – Examples of 36 Month Loans

Step 7: Loan Closure – How Do I Get My Title Back?

How do Title Loans Work FAQ – Frequently Asked Questions

When you’re getting a car title loan, you might be surprised at how easy it is.

In fact, many people don’t even consider getting one, since they’re not sure how a title loan works.

But don’t worry. We’ll tell you everything you need to know about how to get a title loan so that you can make a smart decision regarding a loan.

This is a complete guide will help you understand what a title loan is, how to get a car title loan all the way to how does a title loan work.

We’ll help you wade through the title loans process, from making a comparison though the car title loan requirements all the way to loan closure.

To find out how to get a car title loan in only 7 steps, jump ahead

Examples of 36 Month Loans*:

Examples  Example A Example B
Loan Amount $2,600.00 $2,800.00
Interest Rate (monthly) 8.57% 9.71%
Term Length 36 Mo. 36 Mo.
Processing Fee $75.00 $75.00
DMV Lien Transfer Fee $15.00 $15.00
Monthly Payment Amount $235.00 $282.00

*All our repayment plans are without any hidden fees or prepayment penalties.
Disclosure: Not all applications are approved. Approval is dependent upon specific underwriting criteria and the applicant’s ability to repay. Other restrictions may also apply.

How Do Title Loans Work?

If you’re wondering how do car title loans work, read on! They are similar to pawning an item, but in this case you use your car title to guarantee the loan.

You’re giving the title but you can keep your car and drive it while repaying the loan. The lender is the legal “lien holder” and keeps your car title. After fully paying off the loan, the lien is taken off and you get the car title back.

At Montana Capital Car Title Loans, How Do Car Title Loans Work?

Now that you know how car title loans work, it’s simple to just call us. Would you like to apply for a car title loan but you still have questions?

You are welcome to use the guide found below to learn more about what is a title loan, how to get a title loan and how do our car title loans work.

1.Comparison 2.Requirements 3.Application 4.Approval 5.Loan Funding 6.Repayments 7.Loan Closure

Step 1: Comparison

How to Find the Best Title Loan Lenders?

Of course the first step is to find the right title loan lenders. If you’re wondering why you should choose Montana Capital Car Title Loans, we will help you understand.

You will also have ample opportunity to read about our customer service experience and provide you with all the important details regarding our service/product.

Our Top Priorities:

1. Experience with Customer Service – What Our Clients Say:

Very easy and convenient

Sonia Washington

I found the title cash loan service from this loan firm to be very convenient and easy to use. The process was quick and simple, and I received the cash I needed within a day. I would definitely recommend this service to anyone in need of quick cash.mary

2. Our Product:
  • Amount of loan: From $2,600 – $20,000
  • Term of loan: 36 months
  • Range of average rate: 60% – 175% Annual Percentage Rates (APR)
  • Type of interest rate: Simpe Interest
  • Credit rating: Good credit, Bad credit, No credit – in many cases
  • Payment Methods: Debit Cards online and Over the Phone, Cash (accepted in any 7 Eleven Store)
  • No penalties for prepayment
  • No hidden fees
  • All pursuing to CA Financing Law License No. 603F508
Our Services:
  • Your personal details are secure
  • Simple online application process
  • Keep your car and drive it
  • Several monthly payment options
  • Customer service 6 days/week
  • Quick funding through MoneyGram (Cash), Repay (direct deposit), or Company Check
  • Multiple locations
  • *If needed – Assistance available for transferring the title to your name
  • *If needed – Assistance available for registering out-of-state titles

Bad Credit Loans – Finding a Loan Lender

When you’re in the market for bad credit loan programs, remember to compare prices and terms with other lenders. Work with a lender you trust that gives you the best offer. If you have any questions or comments, please let us know

Step 2. Requirements

Car Title Loan Requirements

Montana Capital Car Title Loans is licensed title loans lender. Our car title loan requirements are made in accordance with title loan laws.

Concerning car title loan requirements, below is what you DO need, things you MIGHT need, and what you DON’T need at all to get an auto title loan from us.

Call us: (323) 498-2188 – We can help you with the below if you don’t have what we need!

What Requirements You DO Need For a Title Loan:

Personal Details

You will need to provide some basic details, including your name, phone number, email, SSN, Date of birth and address. This information will help us provide faster customer service and communication during the car title loan process.

How do you value a car for a title loan?
We’ll need the year, make, model and mileage of your car to judge the title loan value of the car that you’ll use as collateral for your auto title loan. Send us photos of your car so we can evaluate its condition and figure out how much can you get for a title loan.

To get a title loan you do need a lien-free car title with your name listed on it. You need to be the registered owner on the title of your vehicle.
The car title needs to be under your name, so we can use it for collateral. If you don’t have a title, we might be able to help you get one.
Even though you can’t get a title loan without the title, we might be able to help with changing ownership at the DMV, registering your auto or getting a current DMV registration.

What documents do you need for a title loan? You’ll need a driver’s license, an international passport or a state issued ID.
We need an ID to see that your personal details are consistent with all of your documents. Your identification documents will help us with verifying your age and residence. As per California Contract Law, you need to be 18 years old and a resident of California.

In order to fund a loan, we require proof of your ability to pay the title loan.
We must be sure you have a viable way to pay off the loan, whether it’s from a regular paycheck, benefits or an ongoing business.

We’ll need 2 professional and 3 personal references. The references need to include the name, relation, address, and phone number of each person.

If you don’t have everything needed, call us for help!

Disclaimer: You might need to provide more documents, which depends on your personal situation. When finalizing your loan details, ask for the complete list of what is required, since it will be according to the precise terms on your loan.

Requirements that You MAY Need for Title Loans:

Car insurance – we must have proof of full coverage auto insurance for loans amounting to $5,000 or more. It is recommended for all loans.[vc_row el_id=”section-dont-need”]

Here is what you DON’T Need for Title Loans:

A Bank Account – There’s no need to worry about having a bank account. Instead, we can give you a MoneyGram Reference Number so you can quickly get your cash from any of its locations.

A Perfect Credit Rating – Many people ask, “Do title loans go on your credit?” or “Do title loans affect your credit score?”
Our answer is that your credit score won’t be damaged if you make the payments on time. Our loan agents will do everything they can to come up with a payment schedule that suits you best, so you won’t have to miss any payment.

Title Loan Requirements- What I DO Need for Title Loans

It’s best for everyone involved if you understand all requirements and what you need for a title loan to be approved. The majority of borrowers are consumers who don’t qualify for other types of financing options. That is why car title loans requirements are appropriate for applicants with a bad credit score.

If you don’t meet one or more of the title loan requirements, no worries! We go out of our way to be flexible, so we can meet everyone’s situation. Instead of turning away, go ahead and contact us to find out what you need to do to get a title loan approved.

Step 3. Application

Now That You Know How Do Title Loans Work, It’s Time To Apply

The application for a car title loan with Montana Capital Car Title Loans is easier than ever. You can find an online title loans application or visit one of the branches near you to begin. If you prefer, you can call us at our toll-free number: (323) 498-2188.

Title Loans Online Application Process

The online title loans application process is easy and only takes a few moments to complete. Car title loans online are convenient and quick so you can send your auto title loans inquiry online whenever you want with no need to call or wait on the phone.

Send us your auto title loans inquiry online, so we can evaluate your vehicle to find out if it will pre-qualify. This could speed up the time it takes for the approval process.

How Can I Get a Title Loan Online? Apply Online in 3 Easy Steps

How to get a title loan? Begin with the online application to get a Car Title Loan Online request preapproved with only 3 steps!

How much cash do you want?

Apply Now step 1

What are your car’s details?

MC Apply Now step 2

Your personal information

MC Apply Now step 3

Need More Help? Just Call Us

During the application process, if you feel confused and don’t know what to do next, give us a call at (323) 498-2188. We can help you find the information that is required, such as how do car title loans work, how to get a title loan and to know what you need for a title loan. Ask our representatives for help with questions such as how much can you get on a car title loan or how can I get a title loan while still making payments.

Visit One of Our Branches Near You

Click here to locate a Montana Capital Car Title Loans branch near you. After locating your nearest title loan location, come and visit one of the many title loans branches to meet our staff. We’ll help you through all the steps of the auto title loan application process.

Car Title Loans Near Me

Even if your credit history and your credit score is not so impressive, you are still invited to come in and apply. Find the nearest Montana Capital Car Title Loans location. We know your time is valuable and will do our best to help you with any financial emergency whenever you need it.[vc_row el_id=”section-approval”]

Step 4. Approval

The Title Loan Value of My Car

After you have applied and sent in all necessary requirements, we will check the general condition of your vehicle so we can evaluate it. This is one of the criteria that determine the loan limit of our company, which is from $2,600 up to $20,000. The title loan value of your car, your ability to repay the loan and your credit history will determine the final approval for your auto title loan.

How Do You Value a Car for a Title Loan?

You can get a good idea of how much your car is worth today by checking Kelly Blue Book.
Following are some factors we take into consideration when coming up with the title loan value of the car being used as collateral for an auto title loan:

The Car’s Equity – To use a car’s value for loan purposes, it must have equity. Equity is the amount between the value of a vehicle and the amount you still owe on car payments. In reality, it is the amount of the car that you actually own, regarding monetary value.

Let’s say, for example, that you get your car appraised with the Kelley Blue Book, where the value of your car is $25,300. This is based on year, the model, make condition and style. As the car’s owner, if you still owe $10,000 in payments to the lender, and the lender will charge a payout fee of $150, then the equity remaining in your vehicle is $15,150.

A car with equity means it’s worth more than the amount you still need to repay. Sometimes, we’re able to process an auto equity loan for people that still have remaining payments left on their cars, depending on the amount of equity. In such a case, we would go ahead and finish paying your current loan and then add that amount of money to your auto title loan contract.

Vehicle’s Condition – We consider the condition your specific car is in, its mileage, and any wear and tear. We check the general condition of the body and look for dents, cracks in the glass, scratches, scrapes or broken lights.

The value of other cars that are the same model, make and year aren’t always the same as the value of your specific car. That is why we must look at requests on a one-by-one basis.

Optional Car Title Loan Considerations:

  • Miles driven
  • Condition of car’s interior
  • Previous accidents showing up on the vehicle’s history reports

Get Title Loans Ranging From 25% to 120% of Car’s Value

Our aim is purely to obtain the actual liquidated value of the vehicle, to use as collateral. We want to give you a fair loan amount, without regard to the type of car that you own. We give loans ranging from 25% to 120% of the vehicle’s value, depending on your ability to repay and credit history.

Step 5. Loan Funding

Getting Title Loans Money and All You Need to Know About GPS Installation

After a title loan has been approved, our team will discuss the terms and rates of your auto title loan. They’ll tell you how much you can qualify for. After accepting our terms and conditions, you will be able to get the money within a period of five hours*.

How to Get Your Title Loan’s Money?

There are a few general ways** you can get your title loan’s money:

Branch Stores:

Go to a branch store location. Our branch managers at this location would be happy to provide you with a check for your loan.


Walk into MoneyGram location inside a Walmart Center close to you.

  • Repay
    If you own a debit card or a prepaid card*, we can direct deposit the loan proceeds within seconds upon completion of your loan process.
    *some debit and pre-paid cards are not eligible for this transaction.

GPS Installation for Title Loans

Since you’re using your car as collateral for a title loan, we will install a GPS tracking device in your auto. The GPS provides an extra layer of security but does not slow down the loan process. The installation is quick and can be completed at any of our GPS Installation Centers free of charge.

Checking the Current Balance of Your Car Loan

During the life of your loan, you’ll be able to check in with our secure online customer portal. Using the portal, you can view your payment and your transaction information and make your title loan payments online.

Online Customer Portal Examples:

Loan Summary

loan-summary Montana Capital


Payments Montana Capital

Payment profiles

Payments Profiles Montana Capital

*After completion of the application process and a review from the Underwriting Department, a conditional offer might be given.
The time of funding depends on availability of Montana Capital Car Title Loans locations and the completion of the loan process. Typically, funding time is from 1 to 3 hours after approval.

**Check with one of our agents to see which options are available for your specific situation.

Step 6

Competitive Rate Programs and Manageable Repayment Plans

Many times, car title loans’ high interest rates are mentioned. Because of these rates, people often wonder how they will manage to pay off the title loan fast.

Montana Capital Car Title Loans offers interest rates that are both competitive and manageable, and eliminate the worries about any hidden fees or prepayment penalties.

We can give you an APR that is as low as 60% going up to 175%. These rates are for qualifying customers who meet our credit criteria.

Repaying Your Car Title Loans

Below is an example illustrating the various APR ranges of our title loans interest rates. Compare the loan amount of $2,800 with the two examples given. Use the comparison chart to help you understand our title loans interest rate range and our title loans repayment programs:

Examples of 36 Month Loans*:

Examples  Example A Example B
Loan Amount $2,800.00 $2,800.00
Interest Rate (monthly) 9.01% 9.71%
Term Length 36 Mo. 36 Mo.
Processing Fee $75.00 $75.00
DMV Lien Transfer Fee $15.00 $15.00
Monthly Payment Amount $264.00 $282.00

*All our repayment plans are without any hidden fees or prepayment penalties.
Disclosure: Not all applications are approved. Approval is dependent upon specific underwriting criteria and the applicant’s ability to repay and credit history. Other restrictions may also apply.

Payment Methods

The average loan is paid off within 5-8 months, with the first payment being due 30 days after loan initiation. You can make payments online, by telephone, with a check or cashier’s check in the mail or at a 7 Eleven store. Below is a list of Montana Capital Car Title Loans methods of payment.

Phone Payments – With your credit/debit card ready, call us at: (818) 503-9393. Speak with one of the friendly agents for help walking you through your payment process.

If you don’t have an account set up to make online payments, call us and we will help you with that.
You’ll need:

1. Your email address is your username

2. You received your password the same day your loan originated. If you can’t find it, call us to renew it

Click here to Log into your account and make a payment

To make cash payments, go into any 7 Eleven Store and submit your payment.

If it’s easier for you to pay by money order or check, send it to us at the following address.

Montana Capital Car Title Loans
16255 Ventura Blvd Suite 1100
Encino, CA 91436

It’s very important to write down the loan number (your account number) on the money order or check!

Step 7. Loan Closure

How Can I Get My Title Returned?

The last step is loan closure. Assuming you’re repaying according to your title loan contract, your loan will be closed with your last repayment.

However, at Montana Capital Car Title Loans, you can pay off your loan early. You’ll receive your car title back with no penalty for prepayment or hidden fees.

If you do plan on repaying early, call us for the final payout amount. When paying off your loan, we will ensure the loan is closed after your final payment, so you won’t incur additional interest charges.

Car Title Loans GPS Removal

When ready to complete your payoff process, call us at (323) 498-2188 to arrange a removal of the GPS device. This can be done at our many title loans locations across US.

Get Your Car Title Back

After paying back your loan, we’ll send you your title, lien-free. In some circumstances we may return a lien-release form instead of the signed-off title.

How Do Car Title Loans Work?

Use our comprehensive guide How Do Car Title Loans Work to get all the information needed to feel good about your loan decision.

Do you want to apply for car title loans but have questions?

Check out our Frequently Asked Questions about How Title Loans Work. You can also call us for any questions regarding what is a car title loan, what do you need for a title loan, how do title loans work and more.

Frequently Asked Questions About How Title Loans Work

The maximum amount is $20,000.

We recommend you get a loan that will meet your needs and one you will have the ability to repay. Ask our agents how much you can get for a title loan and choose the amount best for you.

Customers wonder can you have two title loans on the same car at the same time?

However, it is not possible to have two title loans on the same car. Only one lien can be placed on a vehicle’s title. A title cannot have two lienholders under any circumstances.

Sometimes potential borrowers of title loans wonder, “Can you get a title loan without a title?”

To get a title loan, you need a lien-free car title that has your name.

You’ll need to be the owner of your vehicle’s title. Your auto title needs to be in your own name to use it for collateral. However, if you don’t have the physical title, we can potentially help you with getting a duplicate one.

Yes! Your car might qualify for a title loan even if it’s a salvaged vehicle. Call us today to see if you can get a title loan on your salvaged car.

Yes. Many times, we can help pay off your auto and still have you walk out with extra money.

This is how you can still get an auto title loan even if you are still making payments on your vehicle! Contact us to find more options for getting an auto title loan while still making payments.

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