What if I Get into an Accident While I Have a Car Title Loan?

June 11, 2019

Car Title Loans are a great way for consumers to get cash fast. There are a lot of reasons you might need a car title loan. A financial emergency, which might include unexpected bills or medical expenses, car repairs, or any situation where you might need money you don't have readily on hand. You might even want to plan a family vacation and need to have the extra money for that. Whatever the reason, many people don't have savings set aside for these situations, and in a lot of cases, their credit may not be good enough to get a loan from a bank or a traditional lender. This is where car title loans come in handy.


Getting a car title loan is pretty simple. If you have a car in your name with a title that is free of any liens, you can use it to secure a car title loan. At Quick Cash Auto Loans, for instance, we issue auto title loans to consumers using just their clear car title loan and minimal paperwork. The only documents we require are your driver's license, social security card, your car title and registration, and two utility bills to verify your address. We also need to see proof of your ability to repay the loan, but this doesn't need to be a job. You can get a car title loan if you have any source of verifiable income that will allow you to repay your loan. That's how easy it is to get the cash you need fast.

Unlike traditional lenders, Quick Cash Auto Loans doesn't worry about your credit. That's what makes it so convenient for many Americans. We don't worry about whether you have good credit or bad credit. In fact, you don't have to have any credit history at all. We won't run a credit check. We also won't ask personal questions about why you need the money. That's your business. All we want to do is get you the loan you need when you need it, as quickly and conveniently as possible.


At Quick Cash Auto Loans, we understand that you have a life to live and need to continue to do so while you have a loan out with us. While you use your car title to obtain a loan from Quick Cash Auto Loans, you don't need to leave your car with us to get the money. You can continue to drive your car as you normally do. That means there is no disruption in your day-to-day activities, so there's never any stress about how you're going to get the kids to school, get back and forth to work, or do your grocery shopping. Your car will be with you during the entire loan process.

What if I get into an accident while I have a car title loan? This is a good question. Since your car is being used as a means to obtain your loan, we will take a look at it before we issue the loan to make sure it is in good condition. A car that isn't in good condition isn't of any value, so we do need to look at it. If there is extensive damage or the car is not in working order, it can't be used to get a loan. Many title loan companies will require you to prove your car is insured before a loan is issued. This is typical of most auto title loan establishments. It is also what happens if you get a loan for a vehicle from a traditional lender, such as a bank. Until the loan is paid off, the vehicle belongs to the lender until the loan is paid off. Since a wrecked vehicle is of no value as collateral, the lender (whether is a bank, auto title loan company, or other lender) typically requires insurance to cover any damage the vehicle might sustain during the term of the loan. It's important to ask about proof of insurance whenever you apply for a loan.


If your vehicle is in an accident during the term of your loan and you don't have insurance, you would be required to pay for the damage out of your own pocket. This is why it's so important to have auto insurance, particularly when you are using your vehicle for a car title loan. This is not typically an issue with most people since many states require driver's to take out at least a minimum of coverage for their vehicles.

When you take out the title loan, you will be asked to show proof of insurance with the title. The proof of insurance will need to be up to date with a renewal date past the day you are obtaining the loan. If you don't have a proof of insurance card, the loan company may often get the information by calling your insurance company. Not all loan companies are willing to do this, so it is best to have your card at the time you obtain the loan. Some auto title loans are willing to work with you without proof of insurance, but as we mentioned above, this could be costly and is not recommended.


At Quick Cash Auto Loans, we are ready to help you get the cash you need fast. We understand that a financial crisis can put you even further behind, which can be stressful. We know that options are limited for many consumers. We strive to make it possible for everybody to get a loan fast. If you are in need of money for any reason and can't wait to go through a traditional lender (or maybe your credit isn't good enough), fill out the handy form on our website to get the process started. You can also call us at (786) 600-3411. We have loan experts standing by to answer any questions you may have or to get your loan process started today. Don't let a financial emergency stress you out or put you further behind. Contact the loan experts at Quick Cash Auto Loans for help today.

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