How Do I Get a Title Loan With a Lost Title?

Learn Why You Need a Car Title for a Title Loan

A title loan agreement relies on using a person’s vehicle equity in exchange for funding. If a borrower passes the approval process, a lien is placed on the car title and removed when the money is paid back in full. The short answer to the question, ‘How do I get a title loan with a lost title?’ is that you really can’t.

Title loans require proof of a qualifying vehicle title during the approval process, and you can’t move forward with an agreement without one. While some circumstances around vehicle ownership may be acceptable, having a title is essential.

If you’re missing your vehicle title, you have options! Contacting the DMV in your state to ask for replacements is straightforward, just like applying for a title loan agreement. Learn how to replace a lost title and what else you need to inquire about title loan funding today.

What Is a Car Title?

Simply put, a car title shows who legally owns the vehicle. After the sale, they are given out by the state DMV (Department of Motor Vehicles). The title will also include identifying information about the car, like its make, model, year, and vehicle identification number (VIN).

Car titles are essential for registering or selling a vehicle, and different types of titles exist. For example, a clean or clear title means a car has no damage or significant repair on the record. That doesn’t necessarily mean the car has never been in an accident– it just means there isn’t a total loss on the property.

A branded title means the car was declared a total loss after an accident or has extensive damage, like flooding. Cars with broken odometers may also receive the branded title classification. While vehicles with these titles may be considerably cheaper to purchase, you put yourself at risk when buying something with lots of potential problems.

Title Vs. Registration

The car title and registration are commonly mistaken for the same thing, but it’s important to note that they are different documents. The title shows that you are the vehicle’s current owner, while the registration indicates that your car is legally permitted to drive on the roads.

As a driver, you must register your vehicle right after the sale or before you begin driving. You also must renew your registration certificate once a year. The costs for registration renewal can vary depending on which state you live in, so it’s important to look that up before driving.

Driving with expired car registration, or no registration at all, is highly illegal, and you can be fined if caught! Keep your documents updated, and you’ll have no issues with the law when driving your vehicle.

How Can I Get a Replacement Car Title?

Life can get messy sometimes, and it can be easy to lose important documents. Perhaps they were misplaced during a move or damaged or stolen– whatever the reason behind the lost title, the good news is that replacing paperwork can be easy. All it takes is contacting the DMV in your state to find out about the procedures involved with applying for replacement documents.

States may vary when it comes to the steps involved with replacing car titles, but you can generally expect to need to show:

  • Proof of Identification, Like a Driver’s License or Passport
  • The Bill of Sale or Some Form of Ownership Proof
  • Proof of Insurance Coverage
  • Application for the Replacement Title

It’s important to note that there may be fees involved with applying for a replacement car title! In Illinois, for example, the title fee is $150, whereas, in North Dakota, residents only have to pay $5 for this document.

Get Started With a Car Title Loan in Your State Today

Ready to get a title loan with a lost title? Inquiring about a car title loan can be easy when you have the correct documents on hand. Even if you’ve misplaced your car title, you can still apply for funding once you reach out to the DMV in your state and receive a replacement for your lost title. Along with a car title, you would need the following paperwork for a car title loan application:

  • Government Issued or State Issued Photo I.D.
  • Proof of Residence
  • Proof of Income
  • Proof of a Qualifying Vehicle Title Under Your Name
  • Recent Photos of the Vehicle

If you need money quickly, inquiring about a car title loan could offer you the financial assistance you’re looking for! Get started today by filling out this inquiry form or calling 855-() to speak with a title loan agent.

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