What is a title loan?
A title loan is a fast and convenient way for anyone, who owns a vehicle without liens, to get cash using the vehicle as collateral. It allows consumers to use the car they own to solve short-term cash flow problems without having to sell their vehicle.
How does it work?
- Take your vehicle and lien-free title to any CashPoint office.
- CashPoint appraises your vehicle.
- Based on the appraisal and your ability to repay, CashPoint determines the amount of money to advance to you.
- CashPoint will place a lien on your vehicle title.
- You get the funds you need the same day, and you get to keep your vehicle.
What if I have bad credit?
We do not run any Credit Reports for your loan application.
What is required to be approved for a title transaction?
To be approved for a title transaction you must be at least 18 years old and have the following:
- Lien-free title – All persons on the title must be present at the time of the transaction
- Working phone/cell phone
- Drivers License, or equivalent
- Verification of residency – Recent utility bills, copy of rental agreement, and a cell phone bill are some examples.
- It is best to call during business hours and speak with a customer service representative to be certain you have all the correct items.
You do not need good credit. CashPoint does not check your credit during the approval process.
*Approval subject to vehicle inspection and your ability to repay.
*Please contact one of the CashPoint locations for any exceptions to the requirements listed above.
Does the car title have to be in my name?
Yes. The title to the vehicle must have you listed as the legal owner of the car you intend to use as collateral for the transaction. If there is anyone else listed on the title, they must be present as well.
How do I know if I will be approved?
The best way to know if you will be approved to get cash is to bring the items required to complete a title transaction listed above to a CashPoint location and complete a customer application. CashPoint will evaluate your vehicle and application and let you know in about 15 minutes whether you are approved and how much money is available to you.
How much money can I borrow?
Cash advance amounts vary and normally range from $250 – $10,000. The amount available is based on the vehicle appraisal.
Availability of the loan is subject to the customer’s ability to repay and vehicle condition. Terms and conditions contained in the contract between the borrower and CashPoint apply.
How long does it take for me to get cash?
If you have all of the items required to complete a transaction with you when you come into a CashPoint location, the whole process from application to receiving the funds will take about 15 minutes.
How do I get my title back?
CashPoint will release your title after you have paid the full balance of your account.
Your account will remain open and CashPoint will retain the title, even if the account is paid in full, until you close the account and terminate the agreement.
Why acquire cash from a title lender?
A title transaction enables you to acquire cash based on the value of your car but without actually losing its use. The process is based on collateral and your ability to repay instead of your credit score.
Aren’t title transaction rates considered high?
Not if you consider that title lenders do not base their decision on credit scores.
What if I am late with a payment?
If you become late or non-responsive, we have the right to repossess and sell your vehicle. However, CashPoint considers repossession a last resort because repossessions are expensive and time-consuming. CashPoint returns excess proceeds from vehicle sales to the customer.
Why choose CashPoint?
You don’t have to sell your car. CashPoint gives you an alternative to having to sell your car in a time of financial need.
How do I find the nearest CashPoint location?
Use the store locator on the home page of this website or by following this link Store Locator or Call 1-888-EZ-BUCKS
What are your hours of operation?
Most store locations are open 10AM – 7PM Monday through Friday. For hours of specific locations, please visit our Store Locator page.