Can I get a title loan if I am still financing my vehicle?
At Jacksonville Title, we are able to still assist you with accessing the equity that you have in your vehicle, even if you are still financing your vehicle through our 2nd lienholder program. For this program, we will need to assess the amount of equity that you have in your vehicle so we will need your most recent billing statement from your lienholder to compare the amount that you owe to the value of your vehicle to determine the available equity that you have to qualify for this program. If you know your principal balance (or even an estimated amount), simply call our office at (904) 880-2274 to get a preapproval quote on how much you could receive today for your auto title loan with Jacksonville Title!
Here is what documents you will need to get your 2nd lienholder auto title loan with Jacksonville Title:
Registration or Title Receipt
In order to get approved for a title loan, the most important document that you need is your registration or receipt from the DMV with your vehicle information. This is a white piece of paper, similar to a title, that you would have received at the time that you first had the paperwork processed or the last change to your title through your local DMV.
Loan Statement/Proof of Residency
Since we do not have a traditional credit check, we do require proof of residency to complete your application for a title loan. As you are applying for a title loan with a vehicle that is still being financed, you will need to provide your recent account statement from your current lienholder. This statement will work for your proof of residency and will also provide us with the information that we need to determine the available equity that you have in your vehicle for your 2nd lienholder title loan.
Proof of Income
We have a number of programs to assist all applicants with getting approved for a title loan without proof of income, providing proof of income will increase the amount that you will be able to be approved for with Jacksonville Title, so we always recommend that you bring proof of income for your loan application. We can accept a traditional paycheck stub or a bank statement with direct deposit. In some circumstances, we can also accept an official letter from your employer as proof of income if it is provided on company letterhead and you are unable to produce a paycheck stub or bank statement to verify your income.
All applicants are required to verify their identity using a valid State or Government Issued Photo ID. Since most customers have a driver’s license or identification card issued from the state in which they reside, this is usually an easy one for our customers.
We will also need to see your vehicle in order to approve your title loan application. As part of the approval process, a representative of Jacksonville Title will need to complete a quick 5-minute inspection of the vehicle in which we gather pertinent information for your specific vehicle to pull the current value to determine the loan amount that you will qualify for. The inspection is a simple process and do not worry, there is no reason to wash and detail your car for this inspection!
If any of your documents are electronic statements, you do not need to go through the hassle of printing them out ahead of time! You can always email your documents prior to your visit to our branch and our representatives will print them out for you! We can also assist you in the branch if you need to access the accounts to produce the documents for your application if you prefer!
If you have any additional questions about the approval process or the documents that you need to get a title loan with Jacksonville Title, please call our friendly representatives at (904) 880-2274 and we will be happy to assist you with any questions you may have!