If you are considering an auto title loan, you likely have a question about how much money you can get with this loan.  The answer, as with so many in life, is…it depends.  It depends on your vehicle almost entirely, although a bit can depend on you, personally.

As you probably know, an auto title loan doesn’t require a credit check because your vehicle is used as collateral for the loan, which means that the loan will get repaid because your vehicle secures it. A credit check is used to determine whether you have a good record of paying your obligations: credit cards, car loans, home loans, utility and medical bills, rent…all those obligations are tied to you, and the credit reporting agencies track whether you repay them on time. People who are consistently good at fulfilling their obligations are often allowed to get a loan based solely on that.

If you have had any hiccups in your credit history however, that credit score suffers. And it doesn’t matter why you struggled. If you were hospitalized, the record doesn’t show that. If you were young and made bad decisions, but are smarter now, the record doesn’t show that.

So, an auto title loan allows you to bypass that credit check and get cash based on what your vehicle is worth and how much of it you own.  If you own it outright, you can get most of the value in a cash loan. If you are still paying it off, you can borrow only the amount you own.

Although this loan doesn’t require a credit check, you can build up a good reputation with your lender. If you have repaid an auto title loan recently, you have a good reputation with the lender, and the loan terms might reflect that trust.