Fast Cash With Online Car Title Loans In Maryland
Anyone in Maryland with equity in their vehicle should consider getting a car title loan if they can't qualify for a personal loan. A title loan is a secured loan, meaning your car's pink slip secures the loan, and there's collateral for a lender in case you default. Notice here that you don't have to hand over the keys to the vehicle as collateral. You'll keep driving your vehicle, and the lender holds the car's title as security. Vehicle equity loans can be a great option in Maryland if you have bad credit and can't qualify for a traditional personal loan, as there's typically no credit check!
Get your cash in 1 to 2 business days after you send the required documents and complete your vehicle inspection. This time frame can be even quicker if you work with a local lender in the Baltimore area, as they can sometimes get you the cash within an hour.
Requirements For An Auto Title Loan In Maryland
- You must own your car outright. A licensed lender will require a pink slip that shows you're the sole owner and there are no other lienholders. The vehicle must be entirely paid off, and you need a physical copy of the car's title.
- You must have proof of income. A pay stub or letter from your employer is typically enough to show that you have enough money coming in monthly to make the loan payments. You can also verify income with social security documents and bank records.
- You must have proof of residency in Maryland and a valid state ID. Each state has different laws and regulations for short-term lending, and we need to know that you're a resident of MD.
- You need valid vehicle registration and insurance coverage in Maryland. Contact the Maryland Motor Vehicle Administration to get replacement registration documents the same day.
How Long To Get Cash With A Vehicle Title Loan in MD
Expect same day funding with a lien free vehicle title. This time frame can vary depending on the title loan company, specific underwriting requirements, and how you want the money. If you request funds to be sent to your bank account, it can take 1 to 2 business days, and ACH may take longer if payment is processed on a weekend or bank holiday. If someone wants to pick up the cash in person, that may be okay with retail lending companies, and that can be just a few hours if you live in Annapolis, Baltimore, or Bethesda. The quicker you submit and finalize the documents, the faster you will get your funds!
Apply Online Or With A Local Car Title Lender In Maryland
The choice of where and how to apply is entirely up to you, and as the consumer, you should choose the option that best fits your needs. You can apply for car title loans online with Highway Title Loans or directly with a local title lender. Both options have benefits, and you can typically be approved and funded quickly.
No matter which option you choose, research and work with a licensed title loan company in Maryland to get the best deal possible.
Benefits Of Working With A Maryland Title Loan Company
- No credit check required - your car title secures title loans, so your credit score won't impact your loan approval. Some customers get approved for a title loan in Maryland with FICO scores under 550!
- Flexible repayment terms - work with an underwriter to create a repayment plan that fits your budget. Title loans may have lower interest rates than personal loans and cash advances!
- Convenient - apply with Highway Title Loans online from the comfort of your home, call us at 877-433-5454, or apply directly with a local lender.
Other Things To Consider With Online Title Loans In MD
- You must own your car outright as the equity loan amount is based on your available collateral. No finance lender in MD will offer cash if they can't hold the title as collateral for the amount borrowed.
- The loan amount often depends entirely on the car's equity value. The average loan amount for title loans in Maryland is around $2,000. Expect higher funding in Baltimore and Ocean City, where more companies compete for your business.
- The interest rates for auto title loans are high, and paying off the loan can be challenging if you don't make extra monthly payments. Find a lender in Maryland that doesn't charge a pre-payment penalty.
Apply With Highway Title Loans
Highway Title Loans has offered access to title loans in Maryland for seven years, and we know what you need to get approved and funded quickly. Apply with us online or call 877-433-5454 to see how much you can borrow!
