Are you wondering how to get a loan with a car title? If you need quick cash and own a vehicle, borrowing against it might be a convenient solution.

In this article, Mr.GOODLoans breaks down the approval process—what lenders look for, how to borrow against your car, and what documents you’ll need. From verifying ownership and income to checking your vehicle’s condition, understanding these steps will help you apply with confidence and access the funds you need fast.

What You Need to Know to Borrow Against Your Car

Credit Score

  • Having a great credit score is important to the bank when you are looking to secure your next loan. If your credit score is below 650, a bank will generally not approve you for a loan.

Debt to credit ratio

  • If you have lots of credit, it won’t matter if you have lots of debt. If you have maxed out your credit, you could still have a good credit score, but showing you have met or exceeded those limits; this will come as a hit to your credit report. Banks need to see that you have credit along with a good credit score.

Employment

  • If you are employed, the banks will require that you have been at your employment for at least 6 months, and if you can provide your T4-, they can verify your income.

Contractor/Entrepreneurship

  • If you are a contractor or an entrepreneur, the banks will expect you to provide proof of income for at least one year. If you do not have taxes filed and cannot prove your income without providing your tax information, most banks will not consider this until two years.

How to Get a Loan With a Car Title: What to Expect

Application process

  • The application process is fairly easy as long as you have your title in hand and a photo ID. The bank must not own your car – you must own it and not have anything owing on the loan of your vehicle. You can also apply for a car title loan online, which is often approved in 24 hours.

No credit check needed

  • The great thing about these loans is that you can be approved without a credit check at all. No credit is needed, and your credit will not be checked.

You keep your vehicle

  • The other great thing about car collateral loans is that you get to keep your vehicle. If you make your payments on time, you will always get to keep your vehicle, and at the end of your term, you will get your title back.

All about the terms

  • The reason these types of loans are so popular and accepted is that they are not only safe, but they are easy to pay off, and you won’t be penalized for paying your term out early. You will get to avoid the interest rates. These loans are extremely affordable, and the term is set for a long time. This comes with higher interest rates.

Why Choose Mr. GOODLoans?

Car title loans can be a smart option when you need fast cash, whether it’s for a down payment, education costs, a small business loan, or covering an unexpected bill. When traditional lenders make it hard to qualify, this is a flexible solution that works with your situation.

If you’re wondering how to get a loan with a car title, get in touch with us at Mr. GOODLoans. We make it easy to borrow against your car without giving it up. Our fast approval process means you can get the money you need, while still keeping your vehicle.

Contact us to learn more!