What is Title Loan

A vehicle title loan is a loan that uses borrower's vehicle (car, motorcycle) as a collateral against the debt. Car Title Loans are generally easier to obtain compared to other types of loans of financing options. They are a good for meeting your short-term financing needs. Also referred as pink slip loan, title loan borrowers must own their vehicle free and clear. The borrower will need to present a valid identification, vehicle registration, proof of insurance, proof of residency, proof of income and lien-free title. p2p Auto will also need to verify the condition of the car and may decide to install GPS-tracking device on the car. p2p Auto will offer you multiple options so that you can choose the loan terms that are right for you.

Borrowing Process

Here is how a general Auto Title Loan process works.

• Submit the details of your car to p2pAuto.ai
• p2p Auto will review your information. If approved, we’ll offer you a choice to pick your monthly payment and loan team
• You sign the new contract online
• Complete the vehicle inspection at our partner location
• We’ll place a lien on your car title and release it after the loan is paid in full

Documents Needed

Below is the list of documents you’ll need to apply for a Title Loan at p2pAuto.ai

• Vehicle Title – to show proof of ownership (individual or joint)
• Vehicle registration – to show that its valid
• Vehicle insurance – to show that insurance is valid
• Identification – need proof of identity (Government-issued ID card)
• POR – need proof of residency matching the name on the title (Utility bill)
• POI – need proof of income to show the ability to pay back the new loan (recent pay stub or bank statements)
• References – names, addresses and contacts details of at least three valid reference (one relative and two friends)
• Vehicle Condition – inspection report that describes the vehicle condition (from our partner mechanic shops)
• Vehicle's keys

FAQ's

Here is the frequently asked question about borrowing money against the equity in your car