Getting a car collateral loan, also known as a car title pawn, with us at Alabama Title Loans, Inc. is easy when you know how. Provided you have the required items, you'll find the step-by-step tutorial very easy to follow. 

So, let's find out how to get a car collateral loan, the process, and the car title pawn requirements you need for approval before discussing the things you can use a title pawn for.

Here’s How To Get Car Collateral Loans In Alabama

In just six steps, you can get your hands on the car collateral loan you need:

1. Complete the online form found on this website. It sends your information straight to your nearest Alabama Title Loans, Inc. storefront.
2. One of the branch's representatives will call you shortly after, so make sure you have your phone on hand.
3. During the call, the loan associate will walk you through this car title loan process, explain the required items you'll need, and answer any questions you have. They'll also ask you to set a meeting location — choose a title pawn near me location to come in and complete the in-person portion of the secured loan application.
4. No matter where you meet, ensure you bring the necessary documents (we'll talk about the requirements in the next section).
5. Sit down with the loan associate, who will look at your ID and title before examining your vehicle to assess how much you qualify for.
6. If you qualify for this secured personal loan, agree to the terms and interest rate, as well as the loan amount, simply finish the paperwork and receive the money you need on the same day or the very next day.

The Car Title Pawn Requirements 

As promised, we'll go over the car title pawn requirements that a lender will ask for:

• State-issued photo identification — The easiest document to use is your driver's license, which serves as proof of your identity and age. You can get a pawn only if you’re 18 years of age or older.
• Lien-free title to your vehicle — Otherwise known as a clear title, it proves you don't have any outstanding judgments or debts placed on your vehicle. Unfortunately, we can't offer you a car collateral loan if you don't have a lien-free title.
• Your vehicle — We use your vehicle to determine how much money you qualify for. Depending on your car's value, we offer between $300 to $15,000. To ensure we can offer you the amount needed, it's worth considering the factors that influence the vehicle's value. These factors are as follows:
• Condition — The mechanical and cosmetic conditions play major roles in how much your vehicle is worth. Any scratches, dents, dings, bumps, scrapes, and even stained interiors can negatively impact your vehicle's worth. On top of that, if you fail to keep up with regular oil changes, this can compromise its value, too.
• Mileage — The further your car has traveled, the less it's worth. Why? Because it indicates excessive wear and tear. This is especially apparent if your car's odometer has a reading over 120,000. At this stage, it'll need more upkeep than cars that have traveled fewer miles.
• Age — The younger your car, the more it's worth compared to its older model. Cars tend to lose 60% of their value during the first five years of their life, so if you're looking to receive a high car collateral loan amount, it's worthwhile to use a newer vehicle.
• Make and model — Of course, some makes and models are always worth more than others, regardless of age or mileage. Luxury brands like Lexus, Cadillac, and BMW come with premium features and higher price tags than run-of-the-mill makes like Toyota and Kia.

What To Use A Car Title Collateral Loan For

So, you know how to get a title pawn, and you've gathered the necessary documents. The only thing left to understand is the situations that justify getting one. While you can use them for anything you like, they're best when saved for emergencies only. Put simply, if your situation would worsen or become more expensive if left unpaid, then a title pawn is an option.

Our customers tend to use title pawns for:

• paying medical bills
• funding urgent home repairs
• paying for emergency travel
• covering higher-than-anticipated bills
• paying overdue bills to avoid late fees
• funding urgent auto repairs on another vehicle

Use Your Car Title As Collateral To Get The Cash You Need Today!

Now you know how to get a car collateral loan and what you need to access money with this car loan for emergencies. Just follow the step-by-step guide in the first section to make it happen.

Whether you're looking to fund medical bills or pay for urgent travel, a title pawn in Alabama might be the right way to go. Apply today!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.