frequently asked questions
Who uses Midwest?
We serve a variety of customers with different needs. Businesses can use a title loan as leverage to buy supplies or quick cash to meet surprise expenses. Real estate agents and salespeople use our vehicle title loans to improve their cash flow while waiting for commission checks. Midwest takes pride in offering an easy solution to complex problems for all our customers.
What is a title loan?
Simply put, A title loan, also referred to in some places as a title pawn or a motor vehicle equity line of credit, is a short-term loan that uses the free and clear title to your vehicle as your credit. At Midwest, we offer fast and discreet loans to all credit profiles.
What is required to get a loan?
Your vehicle, photo ID, income and a clear vehicle title are all that is needed to get a car title loan.
What if someone else’s name is on the title with mine?
Please have all people listed on the title come with you to a Midwest location.
How do I know if my title is “free and clear”?
A free and clear title will say ‘No Liens’ or have no one listed as a ‘Lienholder’. You can also call the auto lender that issued the loan for verification. Questions? We are happy to assist you! Please call us at 877-511-CASH to speak with a title loan agent in your area!
How much can I borrow?
The value of your vehicle and your ability to repay will affect how much can be borrowed. Loan amounts can also vary by state, with a range from $100 to $10,000.
How does the process work?
The process to get a car title loan is fast and simple. All you need is the car’s title, vehicle and picture ID. Simply visit a nearby Midwest location where a friendly agent will evaluate your needs and the vehicle. You will then complete a short application and our agents will review terms and conditions before the loan signing. That’s it! Once you are approved, you will then leave with cash AND your car.
How long does the approval process take?
From start to finish the process averages only 20 minutes.
Is there a maximum loan amount?
Yes, $10,000 in most states. However, several states have maximums below $10,000.
Is it better to start the process online or in person?
Either online or in person is an efficient choice. We want to make the process as easy and convenient for you as possible. Should you choose to start online, you can enter your information online and find a nearby Midwest office. Once we have received your information, a representative will call and discuss how to finish the process at any of our locations.
Will I still need to visit a Midwest Title Loans location if I start the process online?
Yes. All customers must visit a Midwest Title Loans location. This is so you can submit your loan application, have your vehicle evaluated, sign your paperwork and receive your cash!
Why does your website ask for so much information?
The more information you provide online, the more quickly we can get you approved! There are a few basic tidbits that are required (e.g. your name, phone number, income and car make/model/year). Most of the other questions are optional or can be reviewed at our office. However, your title loan can be processed faster by giving more information in advance of coming to a location.
Is my personal information safe with Midwest?
You can rest easy knowing we store all information in a fireproof safe or encrypted server. Starting from 1990, we have never had a data security breach. We adhere to the Gramm-Leach-Bliley Federal Information Safeguarding Law, along with all federal and state privacy laws.
Can self-employed people get title loans?
Yes! Many of our clients are self-employed professionals, such as contractors in need of working capital to buy supplies or meet expenses. Our small business expertise and quick approvals make us the title loan company of choice for self-employed borrowers.
Can I get a title loan if I’m unemployed?
Yes, federal law prohibits discrimination against a borrower’s source of income. We must consider your unemployment benefits. We may also consider your start date for a new job or the income of any family and friends who may co-sign on the loan.
I have a low credit score, does this matter?
No. At Midwest, we offer loans to people of all credit scores and all credit profiles.
If I do not pay, will my car be repossessed?
Automotive title loans use a vehicle as collateral. Repossessions are uncommon but can occur in certain instances. However, this is a final measure and Midwest believes in working with customers who fall behind on payments. Repossession is a not a desirable outcome for either party.
Is there a prepayment penalty on your title loans?
No. Midwest does not have prepayment penalties.
How can I make loan payments?
Most locations accept cash, debit card, money orders, cashier’s checks and Western Union. This makes it convenient to pay in several ways. Our agents will discuss all the payment options available at the time of your loan. Online payments are also available for most of our customers. Please click here to make an online title loan payment.