Car Title Loans In Kansas: How to Apply Now [2022]

Auto title loans may be your new best friend, as it is one of the EASIEST ways to get cash fast.

How do title loans work? Find out in this guide!

What Are Car Title Loans?

A car title loan is a short-term loan of different credit types in which you are providing acceptable property as collateral. In a car title loan, that would be your car.

In exchange, you'll get a direct deposit of fast cash!

Interested? Read on to find out how to obtain title loans in Kansas!

Why Should You Get an Auto Title Loan?

Car title loans are one of the most affordable and secured loans available in Kansas. Here are a few reasons why.

#1 Very Convenient Loan Process and Processing Time!

For those in Kansas, getting a car title loan can be done via phone call, or you can apply online.

You can even get approval within the day!

#2 Loan Terms Unique to Everyone!

Title loan lenders approve Kansas residents from different financial backgrounds. Each loan is crafted and catered to each person's needs.

#3 Credit Checks are Not Instant Denials!

One of the significant distinctions between car title loans and loans from other financial institutions is their tolerance for bad credit scores.

Your credit history may be asked thru a credit check, but not for denial purposes.

This is for better terms, more flexible pay periods, or better interest rates.

#4 Co-Signers are Accepted!

If you cannot pay off the loan on your own, why not take a co-signer?

However, you may need to take out the loan with your co-signer. Another option is to transfer or change the name in the vehicle registry to reflect only one owner.

#5 Keep Using Your Car Like Normal!

In contrast to pawning your vehicle, the upside to title loans is you can keep driving your vehicle while you pay back the loan.

Since they would only need the title to your car, you still get to use your car for the whole duration of the loan!

A Step-by-Step Guide on How to Get a Title Loan in Kansas

A car title loan stays ahead of other pawn loans with how easy it is.

Kansas residents can apply for online title loans and receive loan approval within one business day!

Step 1: Picking Your Loan Agency

Before beginning the application process, the first step is choosing which agency offers title loans you want to work with.

Here are some things Kansas residents should keep an eye on when applying for title loans!

• Check how much cash you can get for the car: The minimum loan amount will depend on the vehicle, like some MoneyGram locations will give you more money.
• See if they perform credit checks: Don't worry; a messy credit history does not mean an automatic rejection. However, this may make the maximum loan amount larger or smaller.
• Check their interest rates: Sometimes, a MoneyGram location will give higher interest rates than advertised, but this is more for marketing purposes.
• See if you can apply online: An online title loan lender makes the application process a breeze.

After picking the most suitable title loan lender in Kansas, talk to the loan agents.

They will help with the loan inquiry process and the additional information you need to know.

Step 2: Submit Your Online Application

Now that you have checked for the most suitable title loans in Kansas, it's time to apply online!

You can find the application form on the lender's website. Download and fill it up!

Usually, the application form wants basic information, such as your name, age, contact details, birthdate, social security number, vehicle identification number, etc.

After submitting the form, you may receive conditional approval with your documentation under pending review.

Step 3: Submission of Important Documents

Once the loan agent gets back to you, they'll ask you to submit the required documents to continue your application.

Make sure to keep the following documents ready to submit:

• Vehicle title: This would be the primary collateral in your loan. A lender would also like to know your vehicle year, make, model, miles, and a few extra details
• Vehicle Insurance, if applicable
• A Valid Government issued ID
• Proof of income: Kansas residents need to demonstrate ability to repay the title pawns. An income proof, like a payslip or bank statement, will do
• Proof of residency in Kansas

These are generally what Kansas title loan providers would ask for from you. Some may ask for more documents, such as a driver's license, so be ready.

IMPORTANT NOTE: Loan agencies sometimes request a credit check. However, your unfavorable credit history will not lead to disapproval.

Step 4: Going Over the Auto Title Loan Terms and Conditions

DO NOT SKIP THIS STEP!!!

Many Kansas residents who apply for title loans need cash right away. They, therefore, ignore all of the crucial and essential information in their loan and sign it.

This is a big no-no since the lending agency is trying to profit from their clients' desperation by offering bad offers.

Follow these instructions to get the most out o your title loan in Kansas;

• PAY ATTENTION TO DETAILS! Spend some time reading the loan agreement's fine print. Make careful to discuss any unclear information with your title loan agent.
• Compare the provided value with your car's market value and the agency's advertised rate. Verify that the cash you'll receive is close to both.
• Note fine details such as the interest rate, original maturity date, funding time, and other necessary measures (such as installing GPS trackers on the vehicle).

After this, you must wait for final approval, which will be within the business day.

CAUTION: If you miss a payment even once, you lose your good standing with the agency. It is also possible that the title loan will default. Set reminders, so you don't forget anything!

Step 5: Receiving your Loan Proceeds

Once you've completed the negotiations and signed the terms, it's time for the most exciting part: receiving your loan proceeds!

The standard methods people choose are direct deposit, wire transfer, checks, or just cold hard cash.

Talk to your lender regarding the different ways they offer to give you your cash within the business day!

That's all! Congratulations, you just got a title loan!

Frequently Asked Questions

Have you got a few more questions about your title loan? Here are our frequently asked questions about Kansas title loans.

How Much Cash Can I Get for My Car?

The amount of cash you can get from your vehicle will depend on your vehicle's current market value.

This value is calculated based on a few details of your vehicle

• Manufacturer and model of the car
• Year the manufacturer made the vehicle
• License plate details
• Current odometer mileage
• Any scratches or dents currently on the vehicle.
• Any ongoing payments for the vehicle (You can use the car as collateral even if you haven't finished paying it off)

The title loan lender's rate is usually between 20% to 50% of the vehicle's current value.

Can I Apply Even If I Don't Have a Bank Account?

Not necessarily!

Some title loans require a bank account, but most title loans will review your case before making a decision.

Do note that be prepared to open a bank account before getting a loan. In the inquiry process, you may even get a lower interest rate with the title loan lender.

Can I Still Be Denied for Title Loans?

As with all types of loans, it complies with the company's policy of denying the title loan, even with much milder restrictions.

Title loans are not money-making machines.

Of course, if you followed our guide above on how to apply for title loans, the chances of you getting rejected by the lender will be very slim.

What Happens if I Crash My Car While Having Title Loans?

Your title loan contractdepends on your insurance type, the severity of the crash, and company guidelines at the loan agency.

Suppose you have insurance, now your insurance company does one of two things, depending on the severity of the damage:

• They will pay to have the vehicle repaired if the accident was minor.
• Pay you a certain amount based on the market value of your car before the accident if the repair cost is over 80% of the vehicle's value.

If the cost to repair the vehicle is over 80% of its value, the insurance company will deem the vehicle "irreparable."

How about the title loan?

If the insurance company has declared the car irreparable, whether you have liability coverage or comprehensive coverage is a big difference;

• If you only have liability coverage and are found to be at fault, you will not receive any compensation.
• If you only have liability coverage and the other driver is found to be at fault, you will receive compensation from that driver's insurance company.
• If you have comprehensive coverage, you're set no matter who's at fault, as you will receive compensation from the insurance company.
• And if the other driver doesn't have insurance, or you don't have insurance, then you get nothing.

REMEMBER: Your insurance is only obliged to cover the vehicle's value. However, they only pay the person who owns the car. Therefore, they pay them first if it is under a credit bureau.

If the insurance value doesn't cover the entire loan, your title loan lender would most likely ask you to place in another collateral while the loan is still active.

They'll most likely ask you to put a second vehicle as your collateral if you have one.

If you don't have a second vehicle, the lender may be willing to change the type of loan to a different one, like a personal loan, which would come with other terms and conditions.

Worst-case scenario, you may end up defaulting on the loan.

In that case, it will negatively affect your credit, you still have to repay it, and you now have no vehicle.

Are Car Title Loans Better Than Payday Loans in Kansas?

Payday and title loans are intended primarily to give you enough money to cover your expenses.

However, you must provide proof of income for a payday loan, as the maximum loan amount is based on your employee salary.

Not to mention the shorter period and higher fees.

Kansas title loans are much better deals as they have more competitive rates and are more flexible in terms of maximum loan amount and due dates.

Can I Delay Payments If I Cannot Pay the Installment?

The contract between you and the lender has a short clause about late payments. Some lenders are generous, while others are less generous.

Regardless, delaying your payments is highly discouraged!

Paying your debt can be painful, but delaying payments can result in much worst penalties, such as late fees and messy credit.

Some lenders may also instantly consider your loan defaulted and repossess your car! Remember to read the fine print regarding late payments in your loan contract!

Again, we do not recommend delaying payments!

Apply for Car Title Loans in Kansas Today!

Congratulations! You now know how to get Kansas car title loans! Just remember to read the fine print provided in the agreement before signing anything.

Please note that title loans are not a permanent solution.

You can't always borrow money when you need it. Finding a steady income should always be the final goal.

Loans are only there as a means to an end, to keep the living expenses away while you focus on finding a stable income. After all, you cannot work on an empty stomach.

Apply for a title loan in Kansas now!