Kellye Guinan is a seasoned financial writer with over 500 articles under her belt spanning all things loans from auto to personal to business and everything in between. With four years in the field and five years of research experience, she's able to make complex personal finance decisions easier for anyone to tackle. When she's not up to her knees learning about the latest trends in lending, she spends her time improving her own financial literacy and expertise — and maintaining a Duolingo streak of over 1,300 days.
What is American Title Loans?
American Title Loans offers auto title loans from $300 to $25,000 in 21 states. Your maximum loan depends on where you live and your vehicle’s condition.
You don’t need a brand-new car to qualify. As long as your vehicle is in legal working condition, American Title Loans considers it. This lender doesn’t advertise its interest rates, terms or fees online, so you’ll have to call or visit a store for more information.
Although you can apply online, you must finalize your application and have your vehicle inspected at a storefront location. American Title Loans lists stores in 12 states on its site, so make sure you live near one before applying. If approved, you may get your funds on the same day.
Where can I find an American Title Loans store?
What are the benefits of borrowing with American Title Loans?
Along with minimal car restrictions and a low-rate guarantee, you’ll find perks that include:
Eligibility for almost any car. Provided your vehicle runs and is paid off, it’s likely eligible for a loan — no matter its mileage, age or condition.
Low-rate guarantee. Find a lower rate with a local lender and American Title Loans not only matches it, but also rewards you with a $25 gift card.
No insurance required. Unlike other lenders, you don’t need a policy on your vehicle to borrow with American Title Loans.
Referral bonus. If you refer a friend who’s never worked with American Title Loans before, you get a $100 bonus when they borrow at least $500.
What are the drawbacks?
Consider potential drawbacks before borrowing from American Title Loans, including:
Unclear rates, terms and fees. You’ll need to call or visit a local American Title Loans branch to learn the details of the loan you might qualify for.
Potential to lose your vehicle. Like all auto title loans, you put up your car title as collateral. If you default, the lender can repossess your car and sell it to recoup the losses.
You may lose your car if you can’t afford repayments.
Auto title loans are risky. They can be helpful in a pinch, but you can lose your car if you find yourself unable to repay what you borrow. And not having a car to drive to work can make a bad financial situation even worse.
What does the Internet say about American Title Loans?
Nothing as of December 2018. The overall company doesn’t have a page on the Better Business Bureau or Trustpilot, and the few specific location pages we found didn’t include customer reviews. Even sites like Yelp and Reddit had few mentions from former borrowers. This is likely due to American Title Loans’ limited state availability.
If you’re thinking about borrowing, get in touch with a local branch to see how you’re treated. You may also want to search for local reviews to get a better idea of how American Title Loans treats its borrowers.
Am I eligible?
Qualify for a loan from American Title Loans by meeting three requirements:
You are the owner listed on a lien-free car title.
You have a government-issued ID.
You are at least 18 years old or 19 in Alabama.
In select states, you may need to provide a pay stub or other proof of income.
How do I apply?
Begin the application at a local American Title Loans storefront or apply online:
Go to the American Title Loans website and click Apply Now.
Enter your name, state and cell phone number.
Fill in your car’s year, make, model, trim and mileage. Click Find Out Now.
Review the amount you qualify for and click Apply Now. You can call American Title Loans to complete next steps or continue online.
Select the store location you want to visit. Click Get Started.
Enter information amount yourself, including your address, email and Social Security number.
Provide your vehicle identification and license plate number, then read the electronic consent form. Click Submit.
Enter details about your living situation, employment and income.
Provide three personal references, including their names, relationship to you and phone numbers. Click Submit.
Enter information about your monthly income and expenses. Click Next.
Read the acknowledgments, then sign and date the application. Click Submit.
Write down your reference number. If you apply during business hours, a staff member will call you to finalize your application and set up an appointment to appraise your vehicle.
Approval depends on an inspection of your vehicle and your ability to repay the loan.
I got a loan from American Title Loans. Now what?
It’s time to start making repayments. How long you have to pay back your loan depends on your state and the amount you borrowed. Some loans come with a short term of just 30 days, while others allow you to repay in installments over several months.
You can pay with a cashier’s check, money order or cash. In select states, American Title Loans allows for debit card payments — though you may be on the hook for a processing fee.
If you have questions or can’t make a payment, contact American Title Loans as soon as possible at email@example.com or 844-848-5356.
American Title Loans can get you funds as fast as the same day — no matter your credit score or the state of your car. But it’s not up front about the costs of its loans, and you risk losing your vehicle if you default.
No. American Title Loans doesn’t run a credit check as part of its approval process.
No. You’re eligible for an auto title loan with American Title Loans even if your car isn’t insured.
No. If you have a valid government-issued ID from any country, you may be eligible for a title loan from American Title Loans.
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