July 23, 2018
Kansas City Car Title Loans 101
If you’ve never gotten a car title loan in Kansas City before, you likely have a lot of questions on your mind. How is my title involved? Will my car be taken away? Do I need to have good credit?
Car title loans are a lot different than traditional loans and lines of credit, but they still serve the same purpose – giving you additional money, when you need it. Whether you have expensive home repairs, are having a hard time making ends meet due to a job loss or loss of income, or you had unforeseen expenses like medical or dental bills, we understand that you need money as soon as possible.
There are so many benefits to getting a car title loan, over traditional loans and lines of credit, like getting it much quicker, and you don’t have to have perfect credit to be approved. You only have a few requirements, and your loan is only for the short-term. Here’s the 411 on getting a car title loan in Kansas City.
Getting a Car Title Loan in Kansas City
1. Review loan requirements, terms, and process of the car title loan.
No matter where you’re getting a title loan, it’s important to review the title loan requirements, the terms, and the entire process of the car title loan. For example, at Midwest Title Loans, we have a few basic requirements, but most importantly, you’ll need a lien-free title. If you are unfamiliar with that phrase, it means that your title is free of liens and fully paid off. As long as you have a lien-free title in your name that is issued in Kansas or Missouri, you likely qualify for a title loan at one of our five Kansas City locations.
As far as terms go, at Midwest Title Loans, our title loans are under a 60-day renewable contract, so our car title loans are looked at as short-term loans to cover immediate expenses – not a long-term financial solution.
The process of a car title loan varies from one title loan provider to another, but it usually requires filling out an application, providing your lien-free title, and showing your car insurance information and photo ID.
2. Fill out an application
To start the car title loan process at Midwest Title Loans, which is similar to most title loan providers, you’ll want to fill out an application online. Our application requires you to fill out basic information like your housing, your job, references, and more. Since we don’t require a credit check, this helps us to determine your budget and repayment ability, which is important for us when deciding how much money to loan you. We don’t want to loan you more than you can pay us back for or more than you need.
3. Get the required documents
As with any loan, a car title loan requires a few documents in the application process. First and most importantly, your lien-free title. At Midwest Title Loans, we need it to be in your name and issued in Kansas or Missouri. On top of your lien-free title, we’ll need to see your:
- Valid photo ID or driver’s license, showing that you are 18 or older
- Car insurance information
That’s it! No pay stubs, lease agreements, utility bills, etc., like many banks and credit unions require to issue you a loan or line of credit. This is why our process is so simple, and our customers can get the money they need in as little as 20 minutes.
4. Bring your vehicle in for a check
When you are ready to get a car title loan, you’ll need to bring in your vehicle for an inspection, so that we can determine its value. It needs to be the vehicle that your lien-free title is for, and it needs to be driveable. One of our experts will take a few quick minutes to inspect your vehicle, which helps us decide how much money to loan you.
5. Review loan offer and terms
Once we’ve seen your required documents, reviewed your application, and inspected your vehicle, we’ll decide how much money we can give you. With one of our friendly customer service professionals, you will review your loan offer and terms. Our title loans at Midwest Title Loans are under 60-day renewable contracts, so that you can have an option to extend your repayment, if you need to. If you do need an extension, there will likely be additional interest to pay.
Once you accept your offer and terms, we’ll give you a check with your amount, in exchange for your lien-free title. We’ll only hold it temporarily.
6. Pay back and get your title back immediately
While your loan is still in repayment, we will keep your lien-free title. However, once you have paid off your debt, you’ll get your title back immediately. Don’t worry – we won’t keep it any longer.
Get Your Car Title Loan for Quick Cash Today at Any of Our Kansas City Locations
A title loan is the perfect choice for short-term financial help for people in Kansas City. No matter if you live in St. Joseph, Gladstone, Kansas City, or Overland Park, we have a location nearby that can help you get quick cash as soon as you need it. Start the process now by filling out an online application or stopping by your nearby Midwest Title Loans location for a free car inspection.
If you still have unanswered questions, our customer service representatives at any of our Kansas City Midwest Title Loans locations would love to talk to you by phone, through our website, or when you stop by. We are excited to get in touch with you!
Proudly Providing Car Title Loans to Kansas City Metro Customers
Midwest Title Loans is proud to provide Kansas City metro area customers with quick cash title loans, in the areas of St. Joseph, Gladstone, North Kansas City, Kansas City, Grandview, Belton, Lee’s Summit, Raytown, Independence, Overland Park, Olathe, Lenexa, Shawnee, and the surrounding cities.