Car Title Loan FAQ's



What kind of loans does True Financial offer?

We do Title Loans where you can still keep your car to drive, where the title is held as security for the loan.  Loans are funded same day within the hour.  You will make monthly payments and when you pay your loan entirely no penalty will be assessed.

Do I need to own my car?

Your vehicle will basically need to be paid-off or almost paid off, and have the ability to pay back the loan.

Do I need good credit?

We are able to help people with all different types of credit history. Bad credit is ok, we have help a number of people with bad credit or who have credit issues and are looking to obtain a title loan


What do I need to qualify for a title loan from True Financial?

We have a application process and is quick and easy.  A short list of documents are required and a TF representative can disscuss with you.  You will have funds as in little as an hour.   


Will I be able to obtain a loan if I’m not currently employed?

Yes.  We will need to know how you will have the means to make your payments, know that True Financial is here to help and get you back on the right track with the cash you need when you need it. We can help provide to you vehicle registration loans and also online car title loans.  

Does it affect my loan approval if I’m retired or on disability?

No, it does not.  You will have to show that you are able to re-pay the loan.

What documents will be needed for a title loan?

You will need to provide us with basic loan documents like:  a valid Driver License, proof of residency, proof of income, personal references, proof of insurance, and a copy of the title/registration to the vehicle.


What, if any, additional fees may I occur during the duration of the loan?

There is a $15 late fee for payments and $375 – $400 in repo fees in the event of a repossession (dependent on repo company used).  We do not like fees as we are sure you feel the same way, so we never charge a processing fee for payments processed over the phone or online.  

Do I need a bank account to get approved or to obtain a title loan?

No you do not. Find out more about auto title loans without a bank account..  If you are self-employed we may ask to see a bank statement.  If you do have a bank account let us know as that can make it easy for you to receive your loan funds.

How much would I be able to borrow?

The minimum loan in the state of CA is $2510 and up.  Our Maximum is $50,000

How do I get a hold of someone at True Financial?

Call us at 877-572-TRUE (877-572-8783)


How do I obtain the title to my car once it’s paid off?

After you have paid off your title loan, True Financial will release the lien on your vehicle after 15 business days from the payoff date.  The title will then be sent to the most current address we have on file for you via regular mail.  If your title is release electronically then DMV will send you the title via regular mail to the current address you have reported with them.

If I have filed for bankruptcy, will that hurt my chances of getting approved for a title loan?

A previous Bankruptcy that has been discharged will not keep you from moving forward, however a skilled loan specialist is ready to assist you to help you determine if you qualify for the title loan.


Is there a pre-payment penalty?

True Financial does not charge a pre-payment penalty.  You can pay off the loan at any time without being penalized.  We can provide strategies for you to help pay your loan off as quickly as possible.

How do I know when my payments are due?

We provide full documentation as well as explain to you on the phone when payments are due and how you can pay. The Promissory Note and Security Agreement (contract) you sign will disclose payment dates.  Also an amortization schedule will be given at the time of funding.

How secure is my personal information?

The security of your information is very important to us here at True Financial and here is what we do to protect your information:

*We comply with all federal and state laws to ensure we are protecting your privacy.

*We shred any paperwork we have with customer information when it’s no longer needed.

*When a form is filled out on our Web site your browser and click the submit button, the information you entered is first encrypted while it is on your computer and then sent to our web server computers.  

*See our Privacy Policy for more information regarding the privacy of your information.

Do you put a tracking device on your customer’s cars?

We do not put tracking devices on all our customer’s cars.  Your loan officer will let you know if this will be a requirement at the time you apply.  We will not shut down your vehicle in the event of a missed payment.

 Do What if I have some issues with my title? Are you still able to help?

Even if you have money owing on your vehicle we may be able to help you see, Car Title Loans without having a Clear Title


What are the age requirements to obtain a loan?

We are able to help you obtain a Older, vintage or Classic Car Title Loan and provide auto title loans for older vehicles.

We are able


Frequently Asked Questions Regarding Car Title Loans

If you’re considering taking out a car title loan, you probably have quite a few questions regarding your potential loan. It’s important to get the information you need to get the best loan for you, and to be prepared for what might come down the road.

Read on to see some of the most frequently asked questions, and get the answers, regarding car title loans.

How Long Does It Take to Get a Car Title Loan?

This might be the first question you find yourself asking. If you’re in need of money quick, a car title loan can be a great way to go. Car title loans are all about fast cash, and many companies can get you approved, and get your loan to you within hours.

Usually, people taking out a car title loan can expect to have their money within 24 hours of applying for the loan. The timeline certainly does depend on the borrower, as lenders can only approve the documents you submit as quickly as you submit them, but once you do that, companies are typically motivated to get deals done as soon as possible.

How Much Money Can I Expect to Get with My Car Title Loan

This is likely another one of the very first questions. Simply, the amount of money you can expect to get out of your loan is dependent on the value of your car and the amount of equity you have in your car. The more it’s worth, the more you can borrow.

It is also important to note that many car title lenders will only work with you if you have full ownership of your car.

The average worth of a car title loan is anywhere between $100 and approximately $5,000. Some companies have a minimum (usually between $1,500 and $2,500), and other companies have a maximum. That maximum typically tops out at $50,000 across the entire industry.

You will typically be able to borrow between 25 percent and 50 percent of your car’s total value. You’ll know how much you are eligible to borrow before you finalize your application.

What Documents Do I Need to Apply?

The answer to this question depends on what company you are borrowing with. Sometimes you don’t even need a bank account to be approved for a loan, but overall these are the documents you can be expected to present.

  • A Government Issued ID
  • A Proof of Income
  • A Proof of Insurance
  • Proof of Residency
  • Vehicle Registration

You can also expect to either offer pictures of your vehicle, or bring your vehicle for an in-person inspection. Some companies may also ask for professional and/or personal references.

Does My Car Have to Hold a Minimum Value?

To answer in a word, yes. Vehicles typically have to be at least $2,000 to qualify as collateral for a car title loan. Some companies require your car to be beneath a year or mileage threshold as well.

What If I Don’t Have Proof of Income?

This depends on the company that you are lending to. Some companies require for you to make a minimum amount per month to apply, while others accept applications with no proof of income. Some companies also accept other documents in place of proof of income. Documents such as disability, pensions, a retirement account, social security, or unemployment benefits can also be used.

Can I Still Use My Car After I Am Approved for a Car Title Loan?

This is one of the best aspects of a car title loan. You can use your car as long as you are making your payments to pay back your loan. You can continue using your car with no restrictions while you are repaying your loan. That will only change if you fail to pay back your loan, in which case your lender will have the option of repossessing your car to sell and make up what you owe.

Can I Get a Car Title Loan with Bad Credit?

Whether or not you are subject to a credit score check before you are approved for a loan depends on the company you are attempting to borrow from. Some lenders require no check. Other’s make a credit card check a necessary aspect of granting a loan.

Primarily, however, it is important to remember that most car title loans are predominately based off the value of your car.

What a credit score check is typically for is so that lenders can try to predict whether or not you will be able to pay back your loan. Bad credit is not necessarily a deal breaker, but good credit could give you the opportunity to enjoy better loans and better repayment options.

Can a Car Title Loan Impact My Credit?

Simply taking out a car title loan will have no negative impact on your credit. What very likely will have an impact on your credit would be a missed payment on your loan repayment.

If you do miss any payments, your credit score will most likely decrease just like it would if you missed any other kind of credit or loan payment.

How Long is the Repayment Period?

Just like the answer to most of these questions, the repayment period differs depending on which company you decide to borrow from. Some repayment periods are as short as 15 days. The average repayment period is a month. Some repayment periods can last as long as several years.

It is important to find out whether or not the company you are working to borrow from has pre-payment fees. That means that if you are able to pay your loan back before the end of the payment period, you could be charged for it.

Can I Have More than One Car Title Loan?

You can only have one title loan on your car because your car only has one title. What you can do if you are struggling to pay back your original car title loan, however, is seek out a company that is willing to refinance your loan.

Refinancing your car title loan might be an attractive option because you could end up getting a new loan with a more attracting interest rate and repayment schedule. This certainly is not the ideal. The ideal is to take out your loan and pay it back in full within the repayment period, but it’s always good to know what kind of options you have if you start to feel yourself slipping into trouble.