03 Mar 2017   /   0 comments

How Much Do Title Loans Give You?


pexels-photoIf you are considering getting a title loan, you have probably already tried asking the question “ how much do title loans give you?” and have never gotten a very straight forward answer. It makes sense because the answer is complicated and always changing but we would like to give you as straight forward of an answer as possible while explaining why the amount available is always changing.

Here, at TFC Title Loans, we care deeply about lender transparency, consumer education, and customer support. In this resource article, we will attempt to answer the question “ how much do title loans give you?” in the most detailed way possible so you can make an informed decision about title loans. There are several determining factors that go into the amount you can get for a title loan. These include the restrictions of the state where the title loan is being obtained, the value of the customer’s car, and the lender’s particular calculations.

We opened our doors in 1994, making us the oldest car title loan lender in California. With almost 25 years of experience, we have been able to perfect the lending process including the determination of amount that can be lent to our customers. If you are interested in how we determine your loan amount, then please continue reading.


The Value of Your Car

One of the biggest determining factors of the amount you can be lent in a car title loan is the value of your car. A car title loan is a secured loan which means that it uses collateral as a guarantee of loan repayment rather than your credit score or credit history report. You can find out a general estimate of your car before even applying for a title loan easily enough through Kelley Blue Book. Simply input the age, make, and model of your car and you will get a ball-park estimate of what your car is worth.

We have a more exact estimator that we run your car through to come up with the trade-in value based on the year, make, model, style, mileage, and condition. We usually try to determine the trade-in value as that is what most dealerships would value you it at.

Restrictions by State

Each and every state has different regulations for title loans. This is one of the reasons why determining a hypothetical answer to how much money you can get from a title loan is nearly impossible because even if two people had the two exact same cars that were worth the same amount, they might not be approved for the same amount in they lived in different states.

The three main states that we service are California, New Mexico, and Arizona. California’s regulations surrounding title loans tend to be significantly stricter than both New Mexico and Arizona. The minimum amount you can get with a title loan in California is $2,600 and the maximum title loan you can get is $50,000. Both Arizona and New Mexico’s minimum loan amount is $1,000. This means that to obtain a title loan in California, your car ought to be valued at $4,000 at the bare minimum whereas to obtain a title loan in New Mexico or Arizona, your car ought to have a value of at least $2,000.


What We Can Actually Lend

After we more accurately determine the trade-in value of your vehicle using our more exact estimator we require some pictures to verify the basic facts you have given us and follow that up with an in-person evaluation. After those simple steps, we will have a solid trade-in value for your car and can then determine what we can lend you.

TFC Title Loans can usually lend you around 50% of your vehicle’s total trade-in value although there are exceptions where we can approve you for more or for less. Getting more or less than 50% of your vehicle’s trade-in value is usually determined by your proof of income. Although, this proof of income does not need to be steady employment. As long as you can prove that you have a steady influx of money enough to repay the loan and afford the monthly payment, you could be approved. Both the value of your car AND your ability to repay the loan in full through affordable monthly payments are of equal importance in your approval.


If you have any further questions, please do not hesitate to give us a ring. We can give you a free quote at absolutely no obligation to you whatsoever. If you have decided that you would like to apply for a title loan, then fill out our quick and easy online application right away!

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