Reasons for needing a Title Loan without showing the Vehicle
Title Loan without the Vehicle Present
Any of the above online title loans will allow you to get the loan without having the vehicle present. As mentioned, you will still need access to the vehicle in order to take current and accurate pictures.
The question is, why do you need a title loan without the car? There are good reasons for this requirement, and there are also some questionable reasons that we don’t necessarily recommend.
Now that we know it is possible to get a title loan without the vehicle, the main question you should ask yourself is why do you need a title loan without showing the car?
There are various other different reasons for wanting one of these loans that are not listed. Some are valid, some are not.
Valid Reasons:
- The car is in storage. This is sometimes the case with classic or collector cars.
- You do not have a nearby lender, or you found a better lender online that is not near you.
- You own the car, but do not have access to it on the day you need the loan. For example, someone else is using it that day.
As we’ve mentioned before the closest lender, or the lender nearest your location, is not always the best. It is common to find a better title loan online from a lender that is to far to drive to. This is one of the valid reasons; not being able to drive to the lender to show the vehicle.
Questionable Reasons:
On the other hand, there are some reasons borrowers want a title loan without the car that are questionable. These can include:
- The vehicle has damage that can be masked with pictures.
- There are mechanical flaws that don’t show up in pictures.
- You own the vehicle, have pictures, but do not have access to it at all.
Keep this in mind when applying for an online title loan. If you have a valid reason for needing a loan without having to physically show the vehicle then one of these loans may work for you.
If you are simply trying to hide a flaw in the vehicle, or apply for a loan on a vehicle you do not have access to, that is probably not the best idea.
Process for Getting a Title Loan without the Car
We always recommend preparation as the first step for any online title loan. The next step for getting a title loan without the car is to apply for one. This is done usually done online and with many lenders only takes a few minutes if you have properly prepared.
The first part of the online title loan application process is very easy and requires filling out a simple form with basic information about the borrower and the vehicle.
The second part of the application requires some additional information. This is where the preparation comes into play and helps save time. Vehicle pictures will be required to replace the in person inspection.
Providing Required Information
Once you apply online, you will usually be asked to provide additional information about the vehicle. The reason: because you are getting the online title loan without the vehicle, the lender needs to have enough information to appraise the vehicle virtually and provide an accurate value. This will inform the maximum loan amount.
The pictures and additional information allow the lender to complete what we call a “virtual” appraisal. The pictures combined with vehicle history give the lender a virtual view of the vehicle without seeing it in person.