Can You Get a Title Loan in a Different State?

Applying for Title Loans Can Be Simple and Convenient

Paying bills is one of the most significant challenges you will face as an adult. Most Americans are struggling with their finances due to the recent inflation rise, which can make saving up for a rainy day impossible. When you miss payments, your credit score can go down, which can take a long time to correct.

Even one missed payment can stay on your credit history for years, and achieving a perfect score can take lots of discipline. If you need help paying for things this month, consider applying for an online title loan.

Title loans can give people with bad credit scores access to cash when struggling. If you have a vehicle with some positive equity, you can inquire about this financing option! As long as you can provide proof of residency within the same state that your title is registered, you can apply for this funding with LoanMart!

Read on to learn how to get a title loan in a different state. Start your title loan inquiry today by filling out this pre-approval form or calling to speak with a title loan representative. 

What is an Out of State Car Title?

Moving out of state can be a complicated process. Things can get hectic when buying and selling property, hiring movers, and settling into a new community. You must remember to change the car title to the same state you are moving to, which only some realize. 

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Most states will give you time to register your car title after a move, but after 60 days in some places, you may be in trouble. You may have to pay hefty legal fines if you get pulled over by a police officer with an unregistered vehicle. Generally, it’s best to take care of this as soon as possible to avoid problems. 

Driving tickets aren’t just a hassle to pay off– occurring too many can cause your insurance rates to go up, which means you’re paying more than you probably want to each month. 

How Do Car Title Loans Work?

Before you can understand how to get a title loan in a different state, you must learn how they work. Auto title loans allow a person to borrow money based on the available equity in their vehicle. If you obtain approval, lenders will place a lien on the car title and remove it once you finish your payments. The car title is collateral if you don’t pay the money back. 

This option is a secured loan because a physical asset is on the line if you stop repayments. If you fail to make payments, title loan lenders can legally repossess your vehicle and sell it to compensate for the loss process.

Title loans can be easier to obtain than traditional bank loans because your credit score isn’t a primary determinant of approval. While lenders will run a credit check, they care much more about your car’s value and if you have the income to make payments on time. 

Why Do I Need Proof of Residency for a Title Loan?

Proof of residency is one of the requirements for a title loan because the regulations around this financing option vary depending on where you are. You can still begin the process if you want to inquire about an online title loan but have an out-of-state vehicle title. Each state has different laws surrounding its title loan requirements, and it may be acceptable if your title is from somewhere else. 

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As long as you can prove that you live within the state in which your car is registered, you may not have to worry more than that. However, you must check and explain to a title loan agent your circumstances during your inquiry. 

Proof of residency can be easy to obtain. You can use a piece of official mail, like a utility bill or bank statement, as long as they are less than 30 days old. 

Start Your Online Title Loan Application Today

You can apply for a title loan with a title from a different state, depending on where you live. Start your online inquiry process today by filling out this pre-approval form or calling to speak directly with a title loan representative.