Title Loan FAQs: Your Questions, Answered

Requirements vary by state, but you will usually need:

• Vehicle title in your name
• Government-issued photo ID
• Proof of income
• Proof of address
• Proof of auto insurance, which is usually required
• Photos of your vehicle

Our list of title loan requirements explains each item.

No, you do not need a traditional job, but you do need income we can verify, because approval depends on your ability to repay. That income can come from many sources, such as:

• Employment or self-employment
• Social Security or disability
• Retirement or alimony
• Workers’ compensation or benefits

Our guide on title loans without proof of income covers this in more detail.

Most online title loans follow this order:

1. Apply in minutes through our secure online application. Share basic details about yourself, your income, and your vehicle to see if you pre-qualify.
2. Send your documents and vehicle photos.
3. Review your offer, sign if you accept the terms, and get funded.

See our full step-by-step guide to how a title loan works, from your application to your final payment.

In general, we offer 25% to 50% of your vehicle’s value. For example, if your car is worth $10,000, you may qualify for $2,500 to $5,000.

We estimate that value from the photos or video you send and current market data for your vehicle’s year, make, model, and mileage. Your final offer also depends on your ability to repay and your state’s law. For example:

• California: California law sets no maximum. Most California title loans funded through Swift Title Loans range from about $2,800 to $6,000.
• Florida: Florida law sets a maximum of $25,000 under Chapter 516, which is the law’s figure, not our offer. Most Florida title loans funded through Swift Title Loans range from about $800 to $3,100.
• Texas: Texas state law sets no maximum. On applications made through Swift Title Loans, most Texas title loans funded by the lender range from about $600 to $2,200.

For a closer look, read our guide on how much you can borrow on a car title loan, or use our title loan calculator to estimate your monthly payment and see if it fits your budget.

Title loans usually cost more than traditional loans, because they often serve borrowers with bad credit. The rate also depends on your state’s law, because each state sets its own limits. For example:

• California: On loans of $2,500 to $9,999, the law caps the rate at 36% a year plus the federal funds rate.
• Florida: The law caps interest at 30% a year on the first $2,000, 24% on $2,001 to $3,000, and 18% above $3,000.

Other states allow monthly fees that add up to a high annual rate. Our page on title loan laws by state links to each state’s rules.

Your exact rate depends on your vehicle, loan amount, and term, and your full terms are shown in your contract before you sign anything.

Yes, you may still qualify. Approval rests on what the vehicle is worth and on whether you can afford the payments, not on your credit score alone.

Applying does not affect your FICO® Score. Read more about bad credit title loans and whether title loans go on your credit report.

Same-day funding may be available if your signed documents are in before noon on a business day. We release your funds once you have signed your contract and we have confirmed the electronic lien.

Verification of submitted details may be necessary, which could delay funding by up to two business days after final approval.

You can receive your money in one of these ways:

• Direct deposit by ACH, straight into your bank account.
• Cash pickup at a money-transfer partner such as MoneyGram or Western Union.
• A check at a local office may also be available.

Yes, you keep and drive your vehicle the entire time. We hold a lien on your title as collateral, not the car. Read more about keeping your car during a title loan.

Yes. There is no prepayment penalty. You can pay extra or clear the loan early at any time, and doing so may reduce the total interest you owe.

You can make payments online through our secure portal, or use any of the options on our how to pay page.

Once you make your final payment and your balance reaches zero, we allow it to clear, which takes about seven to ten business days. We then release our lien.

Your state updates the title record and handles the next step for issuing or requesting a clear title.

If payments stop, your vehicle can be repossessed under your state’s law, so call us before your due date if you are having trouble making a payment.

We will review your account and explain your options under your loan agreement. The Federal Trade Commission explains the risks worth weighing before you borrow.

It depends on your state’s law, because title loan rules are set state by state. Your offer depends on whether we serve that state and on its local rules.

You can see where we serve customers across the U.S., or read our guide on getting a title loan in a different state.

In some cases, you may still qualify, but this usually works only if you have a small balance left. We use part of your new title loan to pay off what you still owe, so the current lien can be released.

Our guide on getting a title loan while you are still paying explains more.

Often, yes. A title loan uses your vehicle as collateral, so its current value and condition matter more than its age. An older car that still runs well and holds value may qualify. Learn more in our guide on title loans for an older car.

It depends on the vehicle. A salvage or rebuilt title usually lowers a vehicle’s value and can make approval harder, but it does not always rule a loan out.

You can apply online in about 7 minutes to see if you pre-qualify, and applying does not affect your FICO® Score. Read more in our guide to salvage title loans.

No, the title must be in your name, because the loan is secured by a vehicle you own.

If someone else is on the title, you need to transfer it into your name first. If you share the title, the other owner may need to agree. Our guide explains the options when the title is not in your name.

In some cases, yes. You may be able to refinance a title loan you have with us or with another lender, depending on your state’s law.

We may be able to pay off your current loan and set up new terms based on your vehicle and your ability to repay. Learn how it works in our title loan refinance guide.