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02 Jul 2019   /   0 comments

What Are Car Title Loans?


What are car title loans?Going through our website, you’ve probably started to ask yourself, “ What are Car Title Loans? ”

We realize that some people may have never heard of an auto title loan, or have and just don’t know what it entirely means. So, What are car title loans?

TFC Title Loans has 25 years’ worth of experience and knowledge on title loans. We believe that our customers should be completely informed of their options when it comes to title loans.

Here at TFC, we make our customers a top priority. We understand that emergencies happen and other loan processes can take months before you’re approved at a banking institution.

Our Car Title Loans offer you a quick money option, even if you don’t have that “perfect” credit score. Before you commit, we want to educate you on what a title loan is and how it can help you.


What Are Car Title Loans?

An auto title loan is a secured loan that can help those who need money quickly for an emergency or personal issue. When we say “secured” we mean that the loan is based off collateral as the guarantee rather than your credit score or credit report like other banking institutions. Now you know what are car title loans.

A lender accesses the value of your car and offers you money in exchange for the title of your car as collateral. Even though the lender owns the title of your car, you are still able to drive as if you still owned the title. You can get the title loan that you need, with a few requirements.

The lender will own the title of your car until you pay back your loan. Once you have paid back the entirety of your loan, the lender takes their lien off your car and you get the title back to your name.

How Much Can I Get?

When you apply for an auto title loan, the amount you receive is based on the equity in your car and your ability to repay. At TFC we are able to offer you 90% of your car’s trade-in value. Your proof of income will be able to affect whether or not you can get more or less than 50%.

It also depends on the state you live in. Some states have a minimum and maximum amount that a lender could offer you. The three main states that we service are California, New Mexico, and Arizona. California’s regulations tend to be higher, the minimum being $2,600 and the maximum at $50,000.

New Mexico and Arizona have a minimum loan amount of $1,000. With our 50% trade-in value offer, that means your car has to be valued at $4,000 in California and $2,000 in Arizona and New Mexico.

This means the value of your car is the biggest factor in your loan amount. This is determined by your car’s age, make, model, style, mileage, and condition. We determine your trade-in value the same way a car dealership would.

How Do I Repay an Auto Title Loan?

The repayment of your loan will depend on the balance of the loan, your income, and the number of months you choose to pay the loan back. TFC allows you to pay your loan over a 24- to 36-month period. We will come up with a contract that best suits you and your needs.

Once your monthly payments have been established, you just pay that amount each month until the term is complete. You can even pay more than scheduled since we charge no prepayment penalties.

What About My Credit Score?

As mentioned, Car Title Loans are designed for those in need of quick money regardless of your credit score. TFC only checks your credit score to verify that you are not actively filing for bankruptcy or going through credit counseling.

Your score will not affect the amount you receive or your monthly loan payment.

In fact, having an auto title loan can help improve your credit score. 35% of your credit score is based on your payment history. As long as you make your monthly payments on time for your auto title loan, it will help improve your credit score.

The only time the loan would affect your credit score negatively were if you were to miss payments or default on your auto title loan.

TFC Car Title Loans

If you’re considering an auto title loan, we encourage you to give us a call. We have been offering help to those in need since 1994. We have worked to make sure we are giving our customers the best loans and terms to make their auto title loan service headache free.

Our loans have many benefits ranging from a sliding interest scale, dedicated customer service representatives, longer payment terms, and no prepayment penalties.

If you are confident that you are ready to apply for a title loan today, then we can get you started on an application online today! So, if you are wondering ‘What are car title loans?’ Now you know! Learn more at

Frequently Asked Questions
What is an Auto Title Loan?

An auto title loan is a loan for a small amount of cash for a short period of time. When you get a car title loan, you give the auto lender the title to your car until the loan is paid in full.

What Are Other Names For a Title Loan?

Fast auto loan, car title loan, auto title loan, pink slip loan, car collateral loan, auto equity loans

What Are the Required Documents to Get a Title Loan?

First, you'll need an original car title showing sole ownership, a government issued ID with a matching name on the car title, proof of residency, proof of insurance, recent pay stubs and your current vehicle registration.

How Much Cash Can i Get?

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