Title Loans Elmwood Park
Frequently Asked Questions

What actually is a car title loan?

Our title loans are similar to home equity loans, just on your car, pickup truck, van or SUV. We become the lien holder on your car and hold your vehicle’s title for collateral. That way you get full use of your car even while you have a loan out from us.

What am I supposed to have with me when I apply online with Title Loans Elmwood Park?

• The Original Clean Title to the Vehicle
• Your Valid and Current Illinois Driver’s License
• A Statement or other Proof of How Much You Earn Each Month

Have all these ready as well as the details about your car (make, model, year, mileage, condition, extra features), so that you can completely fill out the application correctly.

How much can I borrow with my title loan?

We base our loans off the value of your car, so the more it is worth in terms of the make, model, year, mileage, condition, and extra features, the more you can get. The most we can give is $4,000 and the bare minimum loans are for $1,500.

What if I haven’t fully paid for my car yet?

Title Loans Elmwood Park will be able to incorporate less than 6 remaining payments on your vehicle and include that amount as part of your title loan. Make sure to inform us as you apply.

Do you report my payments to a credit bureau to help my credit score?

Absolutely. We want to help our customers now and in the future and since paying the title loan will help increase your credit score, we will definitely report the payments.

What happens if I lost my job, can I still get a loan?

We are more concerned that you can pay the loan payments on time. So Title Loans Elmwood Park will allow you to apply if you are self employed, if you receive income from a source other than an employer, but we will require you show some income to afford the monthly payments.

What if I’m able to pay the loan off early?

We won’t charge you any extra fees at all if you choose to pay the loan off earlier than the 2-3 months that we initially give. You will have 2 to 3 years to pay off the loan depending on your loan amount, but unlike payday loans or other interest only loans, we will not charge even a dollar extra if you are able to pay us back early. That would be insulting to our customers who we’re trying to help, so you don’t have to worry about any prepayment penalties.

In case you have other questions that we didn’t get to, give us a call at 888-700-7505 and our loan agents will be able to answer any questions about title loans that you may still have.

En caso de que usted tiene otras preguntas que no llegaron a, llámenos al 888-700-7505 y nuestros agentes de préstamos será capaz de responder a cualquier pregunta acerca de los préstamos título que aún puede tener.