Car title loans are relatively simple financial tools, they allow you to use your vehicle’s lien-free title as collateral for a loan. Yet despite how straightforward they are, title loans online are often misunderstood. Misinformation can stop people from considering an option that may help during a financial emergency.

Knowledge is power, especially when you’re deciding how to cover unexpected expenses. Below, we break down some of the most common myths about car title loans online and explain the real facts, so you can make an informed decision with confidence.

Common Myths About Title Loans Online — And the Truth

Myth #1: You Have to Give Up Your Car

One of the most widespread myths is that you must surrender your vehicle while repaying the loan.

The Truth:
With car title loans online, you keep your car and continue using it as usual. Fast Auto Loans, Inc. places a lien on your vehicle’s title, not the car itself. This simply means:

• You can’t sell the vehicle
• You can’t use the same title for another loan

Once the loan is paid off, the lien is removed, and your title is returned. Your daily routine stays uninterrupted as long as you follow the loan terms.

Myth #2: You Need Good Credit to Qualify

Many borrowers assume that bad credit automatically disqualifies them.

The Truth:
Traditional banks often require strong credit scores, but title loans online are different. Approval is primarily based on your vehicle’s value, not your credit history.

Fast Auto Loans works with borrowers who have:

• Bad credit
• Limited credit history
• Previous loan rejections

If you’ve struggled to get approved elsewhere, you may still qualify. Learn more about online title loans for bad credit.

Myth #3: Only New or Luxury Cars Are Accepted

Some people believe their vehicle isn’t “nice enough” to qualify.

The Truth:
Your car does not need to be new or high-end. Eligible vehicles typically include:

• Cars
• Pickup trucks
• Minivans
• SUVs

The loan amount depends on factors like age, condition, mileage, and resale value. A quick inspection helps determine a fair loan offer. Keeping up with a basic car maintenance checklist can even improve your vehicle’s value over time. 

Myth #4: Title Loan Approval Takes a Long Time

Many borrowers expect a slow, complicated process similar to bank loans.

The Truth:
At Fast Auto Loans, Inc., the process is designed for speed and convenience. In many cases, approval takes about 30 minutes, and funds may be available the same day or the next business day.

Here’s how it works:

1. Fill out the online inquiry form
2. Receive a call from a loan representative
3. Schedule a vehicle inspection (store or agreed location)
4. Bring your ID, lien-free title, and vehicle
5. Get your approval decision quickly

The Facts About Title Loans Online

When used responsibly, title loans online can be a helpful option for covering emergency expenses such as:

• Car repairs
• Medical bills
• Utility shutoff notices
• Unexpected travel

They’re especially useful for borrowers who need fast access to cash and may not qualify for traditional loans.

Talk to Us About Car Title Loans Online Today

Now that you know the facts, you can set aside the myths and make a decision based on real information. If you’re considering title loans online, Fast Auto Loans, Inc. is here to answer your questions and guide you through the process.

Start by filling out our online inquiry form, and let us help you explore your options for fast, reliable emergency funding.

 

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