How Car Title Loans Work In Delaware And What's Required

Delaware is a relatively small state in population and size, but it ranks high in the number of car title loan companies with offices throughout the state. That means you have multiple funding options and can compare rates and terms among many different title loan providers in Delaware. Apply for a title loan online or go with a local company offering in-person funding. Whichever route you choose, getting an equity loan should be quick and easy as long as you have a car title and proof of income.

Vehicle title loans in Delaware are easily accessible, even if you're short on cash, due to the quick approval process and minimal requirements. The most essential requirement for a title loan will always be a car title, which shows ownership of a paid-off vehicle. Newer cars with fewer miles can bring more cash, but ultimately, you need to be the car's sole owner, and there can't be any other liens or loans in place that could call into question your ownership.

Other requirements can include proof of income and employment (pay stubs work fine), and you can also provide documents showing money coming in through sources other than full time employment. These can include social security income as well as Delaware state disability payments or proof of unemployment. A lender wants to know that you have money coming in each month and can make monthly payments. For loan amounts over $2,000, you may have to bring the car for an inspection at any retail location in the state. The inspection should take about 30 minutes, and after the vehicle is inspected, you can sign off on the loan documents and get your cash during the same visit.

Loan Amounts And Interest Rates For Title Loans In Delaware

Lending limits in Delaware depend on the resale value of your vehicle. The average title loan in DE averages $2,500, but some lenders will allow you to borrow more than that if your car is valued at $5,000 or more. There's no limit on how high auto title interest rates can go in DE, and you can expect an APR of between 30% and 120%. Ask about the financing options when first applying, and be sure to get multiple quotes. Apply with Car Title Loans 123 to compare the APR among lenders and get the best deal for your vehicle's equity.

Title Loans  In Delaware With Bad Credit

Lenders typically won't offer car title loans to people who are in Chapter 13 bankruptcy proceedings or those who have recently defaulted on a title loan with another lender. If you're only struggling with recent credit card payments or have a high amount of debt, you should have no issues getting approved for a title loan.

To recap, most finance companies in Delaware will offer bad credit title loans, and some won't even check your credit, but the interest rates and APR will be high as these lenders know you have few options for emergency cash. If you get a bad credit title loan, we recommend you look into refinancing after a few months of timely payments. That way, you can get money for any financial emergency and refinance with a better interest rate.

Apply Completely Online Or With A Local Lender

Neighborhood lenders and those that offer online car title loans with no store visit can be found throughout Delaware. You'll see these companies in towns like Wilmington, Dover, and throughout the state. Apply with Car Title Loans 123 online or over the phone at 844-567-5011. We'll process your application in less than 15 minutes, and you'll get a quick loan quote from a local title loan company. All we need to get you pre-approved is basic information about your vehicle, desired loan amount, and contact details.

Whatever way you choose to apply for a secured loan, you can't go wrong with Car Title Loans 123. We take applications online in Delaware and can also help those looking for local loan companies near me in Wilmington. Pre-approval takes less than one hour, and most who qualify can have their cash in about one business day!