Can You Get a Title Loan With an Out-of-State Title?

Is It Possible to Obtain a Title Loan With an Out-of-State Title?

Suppose you recently moved from one state to another. In that case, you may still have an out-of-state title registered to your vehicle. While that may not be an immediate issue, it may be problematic in the future. For example, if you wait too long to get a new title in your current state, you might have to pay a fine and lose your car to an impoundment. It can also be an issue if you’re trying to get a car title loan for emergency cash. So what should you do if you have an out-of-state title?

Read below for more information on how it might be possible for you to get an auto title loan with an out-of-state title.

What Does It Mean to Have an Out-of-State Vehicle Title?

When you’re moving across the country, registering your car in your new state might be the least of your worries. That’s why most states will allow you some time to register your vehicle after moving. For example, many states will give people 30 or even 60 days to register their car, while Kansas, Colorado, South Dakota, and Idaho will extend it up to 90 days! However, if you moved to Arizona, you must make an immediate registration, while states like Massachusetts, Missouri, and Minnesota expect you to register as soon as you’ve established your address. It’s advisable to speak with your state’s Department of Motor Vehicles(DMV) to see their current time limits for vehicle registration after a move.

What happens if you don’t register your car on time? Be prepared to pay a late fee when registering your vehicle. In addition, a police officer can fine you if you drive without a valid registration and for not having your tags on your license plate. Keep in mind that the penalty can vary depending on your state. The penalty is also affected by the frequency of the offense.

The fine is typically small if you registered your car but forgot to change your tags. Yet, repeat violations can result in points on your license and increased insurance rates.

Can I Get a Car Title Loan With an Out-of-State Title?

If you didn’t have time to register your vehicle but need quick funds, you might wonder if you can still apply for title loans. The answer to your question depends on your lender, with many requiring you to have already registered your car in your state and your name. But, some title loan lenders may be willing to help you learn how to register the car. It just depends on your state laws, but you will need to be able to prove your residency in the state you are applying from.

You could usually provide recent credit card statements, mail, recent utility bills, mortgage statements, or even phone bills to prove where you live. Talk to your lender if you can use other documents for this requirement.

Qualified borrowers that receive funding will have to remember how a title loan lender will place themselves as lienholders to your car title– but what does that mean exactly?

For starters, a lien doesn’t mean the lender automatically owns your vehicle or that they can claim it whenever they want. However, if you’re involved in an accident, the lienholder is entitled to receive any payout first, and then you’ll receive the remaining balance. Also, if you start missing payments and fail to repay a title loan, a title loan lender can repossess your car. That being the case, it’s essential to contact your lender if you’re struggling to make an installment, as they may be able to work with you.

Where Can I Apply for an Auto Title Loan in My State?

Many title loan options are available in the United States, and it can be difficult to choose the right one. You probably want a provider with excellent customer service, considerable loan amounts, and the potential to obtain quick funding. Thankfully, there are title loan options available that can give you those benefits to take advantage of!

No matter which title loan lender or provider you opt for, you could get the funds you need in no time if you meet the right requirements! Remind yourself to speak with a title loan agent about the process you must take if you’re applying for a loan with an out-of-state title. Once you sort that out, you could start on your title loan!