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HOW DO TITLE LOANS WORK IN LOUISIANA?
Auto title loans in Louisiana can be a convenient way to access emergency cash by borrowing against the value of a qualifying vehicle. Simply use your car’s title as collateral to secure the loan and get the money you need! Although a title lender will place a lien on your Louisiana-issued car title after the loan is complete, you can maintain access to your car and drive it wherever you need to go during the repayment process.1
However, if you want to borrow against the value of your vehicle, it must have a decent amount of positive equity. Your eligibility for a title loan will be determined primarily by the total value of your car and your income. That’s why the amount of equity in your vehicle is an essential part of the application process for an online title loan in Louisiana! You can conveniently use ChoiceCash’s online calculator tool to get a car equity estimate and a loan quote with zero obligation.1
You will also be asked to submit proof of income during your application, but you’re not required to have an office job to apply for a title loan! Around 3.9% of people in Louisiana are unemployed. If you don’t have a traditional job, you can simply provide proof of an alternative source of income to prove your ability to repay the title loan! You can submit a document that proves you receive Supplemental Security Income (SSI), worker’s compensation, pension income, or another qualifying source of alternative income.
Do you have any questions about applying for online title loans in Louisiana? Visit our FAQ page or dial 855-422-7402 to speak with a ChoiceCash title loan representative today.
UNDERSTANDING TITLE LOAN REGULATIONS IN LOUISIANA
If you need fast cash, you might be wondering, “Are car title loans allowed in my state?” You’ve come to the right place for answers! Before starting your journey to an auto title loan, it’s important to ensure that you have a solid understanding of all title loan regulations in the state of Louisiana.
First and foremost, applying for car title loans is allowed in Louisiana. The state has specific laws in place to protect applicants and ensure that title lenders operate in a fair and transparent manner. For example, the title loan laws in Louisiana prohibit lenders from penalizing borrowers who make early payments on their loans. Additionally, if you default on a Louisiana title loan, lenders must notify you about their intentions of repossessing your car before doing so.
When you apply for a car title loan in Louisiana, know that title lenders must present the loan terms in writing before you sign your agreement. This includes the total amount financed, any loan-related charges, and your loan’s interest rate. Before committing to anything, it’s best to compare your options and see which loan fits your needs and preferences. If you are eligible for a ChoiceCash title loan, you can expect to receive competitive interest rates and experience total transparency throughout your loan experience.1
With all of this information in mind, consider how a title loan in Louisiana can help you handle your emergency life expenses! Call 855-422-7402 today or complete a short questionnaire online to apply for ChoiceCash car title loans in Louisiana and see if you’re eligible for instant pre-approval.
WHAT ARE THE BENEFITS OF GETTING ONLINE TITLE LOANS IN LOUISIANA?
Did you know that online title loans in Louisiana can offer more than just emergency cash? Take a closer look at the different benefits you can take advantage of if you qualify for a ChoiceCash car title loan serviced by LoanMart:1
- No Hidden Fees: If you’re eligible for a ChoiceCash car title loan, you will not encounter any prepayment penalties or unexpected fees related to your loan.
- Flexible Application Process: Access a convenient and flexible application process through ChoiceCash title loans serviced by LoanMart! You don’t need a perfect credit score to apply for the emergency funding you need. Call a ChoiceCash loan officer at 855-422-7402 if you have questions about getting bad credit loans in Louisiana.
- Quick Funding: If you’re dealing with a tough financial situation, you might be searching for a loan option that can keep up with your needs. Unfortunately, finding title loans online with instant approval in Louisiana will be difficult because the application process isn’t designed to be instantaneous. But if you decide to apply for a ChoiceCash title loan serviced by LoanMart, you can receive quick funds in as little as 24 hours if you qualify!
WHAT ARE THE REQUIREMENTS FOR AN AUTO TITLE LOAN IN LOUISIANA?
To qualify for an auto title loan, you must meet these initial title loan requirements in Louisiana:1
- Be of Legal Age to Apply for a Louisiana Car Title Loan
- Be Able to Provide Evidence of Income to Pay Back a Title Loan
- Pledge a Vehicle Title in Your Name as Collateral
- Own a Roadworthy Car with Sufficient Positive Equity
Keep in mind that residents are typically asked to complete and sign a Louisiana Office of Motor Vehicles – Vehicle Application form during the underwriting process so that the title loan lender can secure the loan with a Louisiana vehicle. In addition to meeting the initial criteria and the vehicle requirements in your state, you will be asked to submit a few important documents to verify your information. Whether you’re in Lafayette, Baton Rouge, New Orleans, or anywhere else in the Pelican State, you can expect to provide the following items during your application for an online title loan:
- A Car Title in Your Name
- Proof of Your Current Louisiana Address
- Valid, Government-Issued Photo Identification Card
- Recent Photographs of Your Vehicle
- Some Personal References May Be Required
During the application process for a ChoiceCash car title loan in Louisiana, you can upload the necessary documents online with no hassle! You can also send text or email your paperwork and photos to a title loan representative during your application, but it can be beneficial to gather all of the required documents in advance to speed up the inquiry process. Don’t wait to apply for fast cash today! Call 855-422-7402 to get started.
WHY CHOOSE CHOICECASH CAR TITLE LOANS IN LOUISIANA?
Here are some of the main reasons why applicants choose to apply for a ChoiceCash title loan when they need money for an emergency situation:1
- Flexible Loan Terms
- No Prepayment Penalties
- Payments May Decrease2
- Access to Multiple Repayment Methods (Set Up Automatic Payments, Pay Online, etc.)
- Outstanding Customer Service from the Beginning of Your Application to Your Very Last Loan Payment
- Keep Your Keys and Continue Driving Your Car
- Different Ways to Obtain Your Loan Proceeds (Direct Deposit, Receiving a Check in the Mail, Money Added to a Debit Card, etc.)
- Competitive Interest Rates
Find out if you can qualify for the financial assistance you need to cover an unexpected bill or expense! To get started, complete the online prequalification form or contact a ChoiceCash title loan agent at 855-422-7402 if you have any questions about applying for online title loans in Louisiana.
For the sake of convenience for Louisiana customers, below is a map and list of just a few locations in the area, with many more statewide locations found here.
Demographic and Financial Statistics for Louisiana
The below table provides some of the key income, loan, and financial statistics for Louisiana, which are intended to give you a better understanding of how your financial circumstances compare to other Louisiana residents. With this information in hand, we hope you gain a better idea of your financial options so you can decide if completing a title loan application is the right decision for you:
| Average credit score (VantageScore®) | 669 |
| Average FICO® score | 689 |
| Average student loan debt | $34,525 |
| Average credit card debt | $5,811 |
| Average monthly car loan payment | $566 (Lease) $627 (Loan) |
| Share of households that rent | 33.5% |
| Average rent | $876 |
| Median gross rent | $923 |
| Median value of owner-occupied housing units | $174,000 |
| Median monthly owner costs - with a mortgage | $1,376 |
| Median monthly owner costs | $362 |
| Number of bank branches | 1,190 |
| Median household income | $53,571 |
| Per capita income | $30,340 |
| Average ChoiceCash title loan amount | $4,272 |
What Locations in Louisiana Can I Get a ChoiceCash Title Loan in?
ChoiceCash is proud to service residents all over Louisiana including metro areas . Call 855-422-7402 to discuss your options with a loan expert. If you are looking to pay back your title loan in person, check out the city list below to see where your MoneyGram locations near Title Loans Louisiana:
