CAR TITLE LOANS

How do car title loans from Hyperlend work, and what to expect when I apply?

Car title loans allow you to borrow money using your vehicle's equity as security. You will keep driving the car while making monthly payments, and most applicants can qualify for a loan based on 40% to 70% of the vehicle's value. These secured loans are easier to qualify for than personal loans because you often don't need excellent credit.

As of 2024, Hyperlend offers access to title loans in 14 states, and we can get you funded in many of the remaining states if you have a vehicle valued at $4,000 or more. When you apply with us, we'll start underwriting your application to determine the best lending option in your state. We'll provide quotes showing payment amounts and interest rates, and you can decide what repayment terms are best for your situation. The last step is to connect you with a local title loan company. At that point, you may need to get your vehicle inspected, and there's a chance you can agree to the lending terms and have the cash sent to your bank account within 24 hours of being approved!

Get approved for a Hyperlend title loan with bad credit

A bad credit score doesn't mean you can't get approved for a car title loan. While it's difficult to borrow money from a personal loan lender with poor credit, that's typically not an issue when you apply for a title loan. Instead of focusing on your FICO score or credit history, we're more interested in the equity available from your car or truck, as that's the security backing your loan! Even though credit is not a main requirement for a title loan, there are a few scenarios where your credit history may be an issue. For instance, have you declared bankruptcy over the past few years? Or do you have any outstanding loans that you've defaulted on? Each case is different, so call Hyperlend today at 800-971-3022 to see how much money you can borrow with a bad credit title loan!

How long does it take to get approved for a car title loan with Hyperlend?

If you apply with Hyperlend online or over the phone, you can get an initial approval and funding decision in less than an hour. The same applies if you apply with us in person at any lending location. After initial pre-approval, we'll begin underwriting your loan details, and all we need at this point is your detailed vehicle information, employment details, and pink slip documents. It takes a few hours to underwrite the loan and develop a repayment term and monthly payment that works for everyone. You can go from submitting the initial application to having money sent to your bank account with direct deposit within one business day!

Loan amounts with a Hyperlend title loan?

The average loan amount is based on the vehicle's resale value and your loan repayment ability. Some lenders will consider other factors and details when determining loan details, such as the vehicle mileage, condition, and model/make. As of 2024, the maximum loan amount with Hyperlend is $50,000 for high-value vehicles. Most customers will qualify for a loan that averages $3,000 and loan amounts for car title loans are also subject to state lending regulations.

Can I qualify for a vehicle equity loan if the car is not paid off?

Your vehicle must be paid off or almost paid off to qualify for a car title loan. There has to be enough equity in your car or truck to use as collateral, and most lenders will want to be added as lienholders so they have full control over the vehicle. If you owe less than 15% of the vehicle’s wholesale value, you may still qualify for a car title loan from Hyperlend. However, in this case, the loan amount may be lower depending on the equity available and other underwriting conditions.

What if I lost my vehicle title? Is it still possible to get a Hyperlend title loan?

That's OK; you can still be approved without the vehicle title. However, the car must be paid off, and you must be the vehicle's registered owner. If you can't qualify for a title loan because you don't have the title, applying with a title pawn provider may be best. In this scenario, you would hand over the vehicle to a title pawn company, and they would keep possession of the car until you pay off the loan in full.

I need a car title loan, but what if I have a cosigner or don't own the vehicle?

Most car title loans require the vehicle itself and the car's title for approval, and it will be challenging to get approved if you can't show proof of vehicle ownership. But if you have the original signed pink slip from the past owner, you may still be approved for a title loan. Speak with Hyperlend at 800-971-3022 to explain the exact situation with your car's title.