The answer to the question here is a Yes! At TFC title Loans, your title must be in your name to get a car title loan or car equity loans. However, there are still instances where we can still consider your application if your car title does not carry your name, such instances may include the following;
- When you are paying off a loan
- When you are buying a car
- When you inherit a car
- When you are gifted a car
- If you have more than just your name on the title
If your name appears with someone else’s name, you can still find a way around it depending on whether the names are separated by an “and”, “and/or” or “or”. If the names are separated by “and/or” or just “or”, this means the car can be used to get a title loan by either party. However, if it is separated by “and”, then the title loan will have to be in both party names.
If your name does not appear on the car title, TFC Title Loans can help you change the name on the car title through your local Department of Motor Vehicles (DMV). We can assist you in going about the processes involved and as soon as you get your name on the title of the car, you can use it to apply for a car title loan. Here are the steps to follow in getting your name on the title;
- Inform your Social Security Administration (SSA) before you contact the DMV.
- Visit your local DMV to update the name, do not do this through online or other means.
- Go to the DMV with your proof of ID confirming your former name.
- Provide your car registration or car title
- Pay any required amount to cover registration fees and any duplicate title.
- Apply with all supporting documents such as divorce documents, marriage certificate, or other court papers.
Changing your name on the title is easy because DMV does not change only your name, they will also update the information in their record so that you will not avoid any legal battle concerning your title in future, also, only a name change for your driver’s license is required.
When you apply for a car title loan at TFC Title Loans, you can get as much loan amount as the value of your car and how much you earn on a monthly basis. You can utilize our car title loan calculator or contact us directly with any financial issues or questions you have!
Car title loan is one of the easiest ways to get a loan when you are in emergency situations. It is fast and easy to secure. Once you own your car free and clear, with your name on the pink slip or title, then you can qualify to get a car title loan at TFC.
Read more about title loans from https://en.wikipedia.org/wiki/Title_loan.
