FAQ

What do I need to apply for a title loan?

To be approved for your loan, you will need the title to your car, truck, or motorcycle; your drivers license; the vehicle license; and evidence of income.

How much money can I borrow?

The amount of the loan depends entirely on the value and condition of your vehicle, though the maximum we can lend you is $2,500. So, use our Estimate Tool feature to find out how much your vehicle is worth!

Do I get to keep the vehicle?

Yes, absolutely. We keep the title to your car or truck, and you get the cash and keep your vehicle! If you take a loan of a motorcycle, we will need to keep it here until the loan is repaid.

How is this different from a payday loan or cash advance?

A payday loan is a short term unsecured loan, due on your next payday. Title loans are less restrictive, easier to get, and have lower interest rates than payday loans.

When do I get my title back?

As soon as your loan is fully repaid, the title is yours!

I have bad credit/no credit. Will I still qualify? What about bankruptcy?

Because your loan is being secured by the value of your vehicle, PR Title Loan does not require good credit to be approved. As long as you own your car, and meet our other criteria, your financial history is not important.

How long does it take to receive the loan?

In most cases, you will have your loan in 30 minutes. While other companies will make you wait, we understand your money is important, and we get it to you as quickly as possible.

Do you just loan for cars? What about motorcycles?

Cars, truck, and motorcycles are all approved collateral for title loans. If you take a loan on your motorcycle, however, it must remain with PR Title Loan until the loan is repaid.

Do I have to own my car free and clear?

Yes, you must own your car title with no liens or outstanding payments.

What if I don’t have a physical copy of my title?

You will need to have a hard copy of your car or truck title when you apply. If your title is lost or damaged you can contact the Department of Transportation and Public Works (DTOP) for a new one.

What if the title is in someone else’s name?

If the car is not in your name, you may not use it as collateral for a loan. To be approved for a title loan, the car must legally belong to you, which means your name is on the title.

What if there is more than one name on the title?

If more than one person’s name is on the car title, all parties must be present to be approved for the loan.

If I own multiple cars, can I apply for multiple title loans?

PR Title Loan allows one loan per person at a time.

What are the up-front costs or processing fees? How much does it cost to apply?

At PR Title Loan there are no up-front costs or fees to apply for a loan. If you own your car, you have nothing to lose and everything to gain by filling out one of our quick and easy loan applications.

When will payment on my loan be due?

When you are approved for your loan, one of our loan officers will set up an easy payment plan for you, so you always know when every payment will be due.

If I change my mind, can I cancel my loan?

Yes! You have 24 hours to cancel the loan for any reason.

Is it okay to make early payments?

Yes! If you want to make extra payments to early payments to repay your loan as quickly as possible, you will not be penalized.

How can I be sure my financial information is secure with PR Title Loan?

We have been lending money for over a decade. In that time, we have always put our customers first: both in service and security. We want our clients to feel safe and know that we use the latest online security programs, which are continuously monitored and improved, to safeguard personal and financial information. Your information is safe with us.