What Are Car Title Loans?


If you are in urgent need of a large sum of money, a car title loan may be the ideal solution.

A car title loan is a secured loan where the borrower uses the vehicle’s title as collateral.

These loans are very similar to the way a mortgage works for a home.

With this type of loan, the borrower gets the money they need and the lender gets the collateral they want to feel safe about offering the loan.

As long as the borrower doesn’t default on the loan, they get to keep their vehicle.

Benefits of Car Title Loans with TFC Title Loans


With an understanding of how car title loans work, you’ve taken a big step toward actually taking one out for whatever reason you need the money.

Before you do, though, you need to think long and hard about where you’re going to get that auto title loan. You should never borrow money without first understanding the benefits of working with different lenders.

Here are seven such benefits that you’ll enjoy if you get your auto title loan from TFC loans:

1. You can Keep and Drive your Car – Just Use Your Title as Collateral

The first benefit of a car title loan from TFC Loans is that you don’t need additional collateral to secure your money. In fact, you can borrow money from us even if you have bad credit.

While your credit score will obviously affect the Annual Percentage Rate (APR) of your loan, you’ll still find that it’s preferable to other options out there like personal loans. As unsecured loans, those come with loan amounts of high interest rates.

This is especially true if you get a credit union-type of loan. These usually have extremely short maturity timelines, as well. If you can’t pay it back in time, you may end up rolling over the loan, which can be the beginning of a vicious cycle.

2. Get a Loan for the Top Value of Your Car

Aside from your credit score, another factor that will have a huge impact on the size of the loan you receive is the amount at which your vehicle is valued.

Obviously, the more a car is valued at, the more money you can borrow. Therefore, many lenders will purposely try to undervalue it, so they don’t have to borrow you as much.

On the other hand, we pride ourselves on offering loans for the top value of a car. To do this, we actually hire an appraisal expert to inspect each vehicle. With 1,000 locations spread across 17 different states, we can help just about anyone get the auto title loan they need.

As long as our appraiser says your vehicle is worth at least $1,500, we can consider you for a loan.

3. No Hidden Fees

Whenever you borrow money, you always need to be careful about things like hidden fees.

Unfortunately, many lenders don’t feel bad about burying these types of conditions deep within the fine print. This is another problem that you often need to contend with when you take out personal loans.

Some short-term loans are only viable for the lenders because of all the hidden fees involved.

We’re proud to say that this isn’t the case with TFC loans. Our company has thrived for decades because we’re open and honest with our customers.

4. Low-Interest Rates

A prime example of this is our interest rates. Obviously, no loan amount is worth it if the interest rates are going to be too high. Over time, this will greatly increase the total cost of the loan, even if it originally looked like a bargain.

Again, transparency is our priority. We’ll walk you through your options for a loan and explain how a certain interest rate will affect it. This way, you can borrow money from us with confidence.

5. Adaptable Repayment Plans

Repaying your car title loan couldn’t be easier or more convenient with TFC Loans. After all, we figured out a long time ago that the easier it is to repay, the easier the entire agreement is for everyone.

Here are just some of the options we offer for repaying your loan:

You can even pay in person if you live near one of our locations in California, New Mexico, or Arizona. We accept cash, credit cards, and checks.

6. Same Day Cash Loan

When you need money fast, any delay whatsoever can be agonizing.

That’s why we can offer same day cash loans. The entire process (which we’ll cover in just a minute) has been streamlined, so if you have an emergency need, rest assured we can help right away.

7. No Credit Score Limits

While we will run a credit check as part of our normal application process, the good news is that we never reject people who need money simply because of a bad credit score. So if you’ve been turned away from other lenders, you don’t have to worry about that with TFC Loans.

Furthermore, we don’t care about past bankruptcies. As long as you’re not in an active bankruptcy and the past matter has been resolved, we will consider you for a loan.

The same goes for credit counseling. If you went through and completed it in the past, it won’t affect your chances of receiving a car title loan.

Taking Out a Car Title Loan from TFC Loans Couldn’t Be Easier

Car Title Loans: What are They & What you Get | TFC Title Loans

We also like to think that one of the biggest benefits of taking out an auto title loan from TFC loans is how simple we make the entire process.

Our company has been helping people just like you from 1994. This has given us a lot of time to refine our process and make it as quick and easy as possible.

Here’s how it works.

1. Apply for the Car Title Loan

Complete and submit the form provided on our website. In a few minutes, a TFC representative will have all the information they need to figure out how much to lend you. There are many different ways that you can apply.

2. A Quick Phone Call

After we have received your information, we will provide you with a free quote during our phone call and discuss the next step if you wish to proceed.

If you do, we’ll ask for your license plate and VIN number. The latter is so we can verify the exact model of your vehicle and find out about any additional add-ons that might affect the final amount we can lend.

3. Provide Necessary Documents

If you are missing the original vehicle title, don’t worry. We can help you apply for a duplicate and you can proceed with the rest of the application process after that.

Also, you don’t need a steady job to provide proof of an income. You could be receiving payments from social security, for example. The important thing is that you have proof you’ll be able to repay the loan.

4. The Inspection

The inspection of your vehicle is a very simple procedure and usually only lasts a few minutes. That’s literally less time than it takes to run a credit check. For the most part, we’re just confirming that the vehicle is the same one that was in the pictures and that there isn’t any major damage that would affect its value.

5. Finalize the Terms of Your Car Title Loan

We appreciate that your needs are unique, which is why we create equally unique terms for each borrower. Everything from the loan amount to the repayment plan will be decided with your input. However, we can accommodate terms as short as two years or as long as four.

Before we finalize the agreement, we will make sure that you understand how much your repayments will be and when they will have to be paid. We will also explain what your late fees will be if you miss a payment.

If you agree with everything, we’ll both sign the contract and then you’ll…

6. Get Your Money

Finally, the fun part: you actually borrow the money. We’ll hand over the amount we promised and you can take off. At this point, the money is yours to do with as you please.

Start the Application Process Today

Hopefully, this page helped any questions you had about car title loans. If not, please feel free to contact us if there is anything else you’d like to know.
Otherwise, you can begin the application process right now and be that much closer to the money you need.

TFC Title Loans is fully licensed and bonded by DBO.