Are you wondering if your heavy-duty truck is eligible for a title loan? Generally, heavy-duty trucks can qualify, but it's essential to contact your lender with basic vehicle information to confirm. Just because you can use a truck as collateral doesn’t guarantee loan approval.

In this guide, we’ll cover the eligibility criteria for heavy-duty trucks, the requirements for title loans, and how you can quickly access the cash you need.

 

Are Heavy Duty Trucks Eligible for a Title Loan?

Eligibility for title loans may vary depending on the specific lender. In general, you would be allowed to use heavy duty trucks, cars, motorcycles, and RVs as collateral. Some lenders might even consider trailers, tractors, and heavy equipment, so make sure to ask.

What Vehicles Are Eligible For A Title Loan?

The type of vehicle is only one factor in determining loan eligibility. Ensure that your truck's title is in your name, lien-free, and that the vehicle is in good condition. Here’s what you need:

Vehicles That Have A Lien-Free Title

If you’re still making payments on your truck, your title loan application will be declined. Only those who already own their vehicle outright will have a chance of qualifying.

Also, don’t forget that the document must have your name on it. If you haven’t yet managed to get the title transferred, you would have to do that before applying for a loan.

Vehicles That Are Not In Poor Condition

Many lenders will not allow you to use your truck as collateral, if it’s seriously damaged. If the vehicle has severe cosmetic and/or mechanical defects and is in poor running condition, you might not be qualified for a title loan.

By the way, going for a title loan in such a case might simply not make sense as you most likely won’t be offered the amount that you’re counting on. If your truck is in a fair, average, or good condition and you own it outright, a title loan can become a fast and stress-free way to get emergency cash.

How To Apply For A Title Loan

With Fast Auto Loans, Inc., you wouldn’t have to spend hours driving to the store and waiting for the verification agent to inspect your vehicle. The professional will come to you, and you might get approved in as little as 30 minutes!

Here’s how the process works:

1. Fill out the convenient online form.
2. Receive a phone call from one of the company representatives. A friendly staff member will explain to you all the steps of the process. You will also get to set up a meeting with the verification agent.
3. Bring your vehicle, lien-free title, and ID to the meeting that will take place at a location of your choice.
4. Wait for the verification agent to inspect your vehicle and verify your documents (this might take just half an hour).
5. Find out whether you qualify and for how much, and if you agree with the terms proposed, sign the final papers.
6. You will receive the loan amount the following bank business day or, in some cases, the very same day.

FAQs About Title Loans

Will you get to keep driving the car?

Yes! If you have a heavy duty truck, the chances are high that you will rely on it in your day-to-day life. And if you decide to do business with Fast Auto Loans, Inc., you will be allowed to keep driving your vehicle while repaying the loan, which is incredibly convenient.

How will the value of the vehicle be determined?

You might be able to get up to $15,000. The exact sum would depend on the condition of your truck and its value. The latter will be based on the value as stated in a nationally recognized pricing guide.

How can I repay the loan?

You wouldn’t have to arrive at the store to pay off your loan. The company has created a special payment portal through which you can make all the necessary money deposits without leaving your house.

 

Apply For Your Title Loan Today!

If you own your heavy duty truck outright and it’s in fairly good condition, then the chances are high that you will be able to use it as collateral when taking out an online title loan. Fast Auto Loans, Inc. is a reputable lender that can offer you up to $15,000.

The best part is that you might end up receiving the much-needed sum in the shortest timeframe and without paying a visit to the store. Can’t wait to get started? Then fill out the online inquiry form right now!

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