Car Title Loans 123 offers loans up to $20,000 in New Mexico!

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What Is My Vehicle Worth In NM?

How Much Cash Can I Get With A New Mexico Title Loan?

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How To Get A Car Title Loan In New Mexico

Did you know you can use a vehicle as collateral for a title loan in New Mexico? Car Title Loans 123 now offers quick funding for anyone looking to use their vehicle's equity as security for a loan. We provide online title loans in New Mexico with additional options to apply in person anywhere throughout the state. You don't need a perfect credit score, and borrowing upwards of $20,000 with a vehicle that qualifies is possible.

When you borrow from a New Mexico title loan company, they put a lien on your car title until the loan is repaid in full. This protects their investment and ensures that you won't just up and leave with the car if it's difficult to make monthly payments. Continue to drive your vehicle as usual, and the lender will hand over your title when the loan amount is paid back in full.

Once approved for an auto title loan, you will agree on the payment terms and loan amount. The interest rates for title loans in NM aren't as high as in other states and often fall between 25 - 36% for loans between $2,500 and $10,000. Rest assured, knowing the rate is locked in and won't go any higher over your loan term.

 

Qualify For New Mexico Title Loans - What Do I Need?

-The car must be registered in New Mexico, and you need to reside within the state.

-The car's title has to be in your name and fully paid off.

-You must show proof of income. This can be with employment records or bank documents.

-You must have valid vehicle insurance and proof of registration.

-You will likely need to bring in your car or truck for inspection. This can be done at any lending location within the state.

If you meet all of these qualifications, you'll likely qualify for a New Mexico title loan with a loan amount of $2,500 or more. Start today with Car Title Loans 123 by filling out our online application or visiting a location in Albuquerque or Las Cruces.

 

Downtown Santa Fe New Mexico

 

Is It Possible To Get New Mexico Title Loans With Bad Credit?

Yes, getting a bad credit title loan in New Mexico is possible. Most borrowers have low credit scores, which doesn't seem to cause any issues when they first apply. Lenders are more likely to approve you for a vehicle equity loan with evidence of regular income and a car in good condition. That means you'll likely need a model year 2008 or newer vehicle with less than 100k miles. Vehicles within that range have the highest resale value and will provide the most equity.

Unlike traditional finance companies that ask for many documents, a title loan company in New Mexico mostly wants to see how much collateral you have! Show your lender the title of a vehicle you own, and we won't even check your credit score!

 

How Much Can I Borrow With New Mexico Title Loans

Borrow up to $20,000 with New Mexico title loans and expect an average loan of $3,500 as of 2024. Because of recent lending regulations, the minimum loan amount in NM is $2,500, so you'll probably need a car worth at least $6,000 to qualify for a title loan. Funding amounts differ by lender and are generally higher in Albuquerque, where lenders compete more and can offer more competitive rates. Borrow 40-70% of the vehicle's value and use that as collateral for the loan. That means a car worth $20,000 can lead to a funding amount of around $11,000.

 

Refinances And Buyouts in New Mexico

Maybe you already have a title loan from another lender, but the interest rate is too high. If so, we can help you by refinancing your current loan. Any equity loan with an APR over 40% is a candidate for a refi in New Mexico, as there's a chance you can get that rate down under 35%.  Car Title Loans 123 offers buyout options where you can get entirely new repayment terms if a lender agrees to buy out your existing loan. Contact us to see how much we can save you with new repayment terms and possibly a lower monthly payment!

 

Get Started Today With An Online Title Loan in New Mexico

Are you ready to get started and see how much money is available with the equity from your vehicle? Complete our online application or visit any office in New Mexico to apply and complete the vehicle inspection. Title loans are a great way to get fast cash when you need it most, so don't wait any longer! Apply with Car Title Loans 123 or call 844-567-5011 to get your funds today!

 

*INTEREST OF 36 PERCENT PER YEAR PLUS THE CURRENT FEDERAL FUNDS RATE. TITLE LOANS HAVE ANNUAL PERCENTAGE RATES THAT START AT 3% A MONTH AND GO UP FROM THERE. APPROVAL IS BASED ON AND SUBJECT TO THE APPLICANT SATISFYING THE CREDIT REQUIREMENTS IN PLACE BY TITLE LENDERS. SOME LENDERS MAY REQUIRE APPROPRIATE COLLATERAL, SUCH AS THE VEHICLE’S PINK SLIP.


THE SPECIFIC LENDING AMOUNT, PAYOFF TERM, AND APR OF A TITLE LOAN THAT THE APPLICANT QUALIFIES FOR WILL VARY BASED ON EACH UNIQUE SITUATION. ANY PERSONAL LOAN SHOULD BE INTENDED FOR FINANCIAL EMERGENCIES OR TO MEET REAL-TIME PERSONAL OR BUSINESS NEEDS. THE MINIMUM AMOUNT OFFERED WITH A TITLE LOAN ONLINE IS CURRENTLY $2,501. ALL APPLICANTS WILL NEED TO SHOW AN ABILITY TO MAKE ON-TIME MONTHLY PAYMENTS AND ULTIMATELY PAY BACK THE LOAN. BORROWERS ARE URGED TO MAKE EXTRA OR EARLY PAYMENTS AS A WAY TO PAY OFF A TITLE LOAN EARLY AND AVOID EXTRA INTEREST RATE CHARGES. SEE CHART BELOW SHOWING EXAMPLE RATES AND PAYMENT TERMS.

Annual Percentage Rate Finance Amount Amount Financed Min Payment Monthly Payment Total Months
34.89% $1012.80 $2511.00 $143.95 $3474.80 22 minimum
34.37% $2043.05 $2520.00 $102.02 $4436.88 42 maximum

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