What Is a Title Loan?

Unlike regular loans that focus on credit scores, title loans require you to use your vehicle title as collateral to get a loan. Title loans usually last for 30 days. To get back your title, you need to pay back the full loan amount and interest. You can either pay it all off within the 30 days or renew the loan by paying at least the minimum interest. If you pay more than the interest, it helps lower the principal amount, saving you money on future interest. Renewing the loan gives you another 30 days, with interest charged on what's left to pay.


What Determines the Title Loan Amount?

The most crucial factor is how much your vehicle is worth. We'll check its condition, make, model, and overall market value to figure out its worth. We also look at your ability to pay back the loan. Combining the value of your vehicle with your ability to repay helps us decide the highest amount we can offer you. 


Can I Keep My Car With a Title Loan?

Absolutely, you can keep your car with a title loan from Always Money™! Even though you're using your car's title as collateral, you still get to keep and use your vehicle while you repay the loan. So if you need some extra cash but still rely on your car for daily life, a title loan with Always Money™ lets you have the best of both worlds!


Can I Use a Boat or a Motorcycle as Collateral?

At Always Money™, we understand that different people have different needs, and that's why we accept a variety of vehicles as collateral for our loans. This includes cars, ATVs, motorcycles, boats, RVs, and more! 


Do Title Loans Affect Credit Scores? 

Title loans typically do not impact your credit score because they are not credit-based loans. Instead, they are secured by the title of your vehicle. This can be beneficial for individuals who may have less-than-perfect credit history but need access to quick and convenient financial solutions.


Can I Get a Title Loan With Bad Credit?

We're here to help, regardless of your credit history. Even if you have bad credit, you may still be eligible for a title loan with Always Money™. Title loans are secured loans, meaning they use the title of your vehicle as collateral. Your credit score is not the primary factor in the approval process– the loan amount is determined based on the value of your vehicle and your ability to repay the loan.


How Much Can I Borrow With a Title Loan? 

Loan limits and requirements may vary by state. In Mississippi, there's a state-regulated maximum of $2,500 for title loans. In Alabama, Always Money™ offers up to $15,000, depending on the collateral and meeting specific underwriting criteria.


How Do I Apply for an Always Money™ Title Loan? 
Fill out a short Always Money™ title loan application online, over the phone, or in person at one of our stores. We'll inspect your vehicle at the store and use a vehicle valuation database to estimate its value. Upon approval, you'll receive personalized offers with different loan amounts and repayment options tailored to your needs. Pick up your cash in-store or opt for a secure online deposit. Manage your loan easily through your online Always Money account, where you can make payments, track balances, and stay informed about all the essential details.

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It's easy and simple to get the cash you need at Always Money.