Just don't expect to know what rates and terms you might qualify for until after you fill out its online form.
When you’re looking for an auto title loan, a connection service like TitleBanko can help you find a lender without spending hours searching or confirming you qualify. But it’s not up front about what rates and terms its partner lenders offer. And you won’t find any reviews from other customers who’ve used its service.
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 everyday people 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.
What is TitleBanko?
TitleBanko is an auto title loan connection service. Rather than offering loans directly, it works with a network of lenders across 36 states to help you find a loan you might qualify for. You can borrow anywhere from $1,000 to $30,000. And unlike some services, its partners accept both cars and motorcycles as collateral.
However, it’s not the most transparent company out there. You won’t know what rates and terms you qualify for until after you submit your information through its online form. This can be risky, since most auto title loans come with APRs in the triple digits. And you risk losing your car should you default.
TitleBanko isn’t available nationwide
TitleBanko doesn’t work with residents in the following states:
What are the benefits of TitleBanko?
If you’re in the market to compare multiple short-term lenders with one online form, TitleBanko has a few benefits:
Serves a variety of borrowers. The lenders in TitleBanko’s network accept borrowers with less-than-perfect credit. And some might be willing to work with you even if you still owe money on your car.
Quick turnaround. You could be connected with a partner lender within seconds of submitting TitleBanko’s online form. And depending on the lender, you could receive your funds in just one business day after being approved.
Wide state availability. TitleBanko could match you with a lender just as long as you live in one of the 36 states it services.
What to watch out for
TitleBanko may be a quick option, but there are still a few drawbacks you should be aware of:
Not transparent about rates and terms. You won’t know how much it costs to borrow with one of TitleBanko’s partner lenders until after you fill out its online form.
No direct phone number. The phone number listed on TitleBanko’s website connects you to an affiliate — not the connection service itself.
Limited information available. TitleBanko doesn’t provide much about its services or the people behind it on its website. And it doesn’t have a Better Business Bureau (BBB) or Trustpilot page where you can find reviews from former customers.
TitleBanko doesn’t have any online reviews as of October 2020. While that isn’t odd for a connection service, it’s strange that its parent company also lacks reviews.
Because of this, you won’t know much about the lenders you may be connected with or how TitleBanko uses your personal information until after you fill out its online form. If you’re connected with a lender, be sure to look up its reviews from former customers so that you know what you’re getting into before you borrow.
Is it safe to apply for TitleBanko?
In general, yes — though no website can ensure your information stays 100% secure. TitleBanko does its part by using 256-bit encryption to help keep your personal information safe.
But like all connection services, it shares your personal details with its network of lenders. This means you may continue to receive emails, texts or phone calls from lenders after you’ve taken out a loan. While it has an Unsubscribe page on its website, it’s unclear whether this allows you to unsubscribe from correspondence with all of its partner lenders, or just TitleBanko itself.
Am I eligible?
To get connected with a lender in TitleBanko’s network, you must meet the following requirements:
Valid government-issued ID
Regular source of income
At least 18 years old
You may need to meet additional requirements depending on the lender you’re connected with.
How do I get started?
Follow these steps to get connected with a lender online:
Go to TitleBanko’s website and click Get Started.
Select how much you’d like to borrow.
Enter your ZIP code and phone number. Click Continue.
Enter your name, email address and birth date. Click Continue.
Enter the current market value of your car and select if your vehicle is currently paid off. If it’s not, enter the amount you still owe on your loan. Click Continue.
Select your primary source of income, then enter your monthly income and select whether you’re involved in active bankruptcy. Click Continue.
It may take a few minutes for your request to process. If you’re connected with a lender, you can visit its website to complete your application. If you’re not, you may want to compare your other short-term loan options instead.
What documents do I need to apply?
You won’t need any documents to fill out TitleBanko’s form, but you may be required to provide proof of income and your vehicle’s title to the lender you’re connected with.
I was connected with an auto title lender. Now what?
Once you’ve been connected with a lender, read through the terms and conditions before signing the contract. Your loan documents should detail how much you owe each month and your loan’s due date. If possible, ask if you can sign up for autopay to avoid any late fees.
And remember: Auto title loans use your car as collateral. So if you fall behind on repayments, your lender can repossess your vehicle. If you’re worried about missing a payment or have any questions, reach out to your lender — not TitleBanko — for assistance.
TitleBanko can help you compare different auto title loan providers by filling out just one online form. But it’s not transparent about what rates and fees its partner lenders offer. And you won’t find any reviews from former customers online.
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