frequently asked questions
Who uses MidAmerican Title Loans and why?
We serve a wide variety of customers all over the country, each with different needs. Small business owners can use quick cash from a title loan to pay for surprise expenses or to purchase supplies. Realtors and sales professionals can use a vehicle title loan to ease cash flow bottlenecks while awaiting commission checks. The possibilities are endless, but the solution is simple. MidAmerican Title Loans is proud to be that solution.
What exactly is a title loan?
A title loan allows you to borrow money using your vehicle as collateral. It’s easy to get fast cash with just a free and clear car title. There are no credit checks, and the approval process is quick and easy!
What do I need in order to get a loan?
To apply, you will need photo identification, such as a driver’s license, your vehicle and its title (free and clear of liens).
How do I know if my vehicle’s title is free and clear?
A car title that is free and clear will have no one listed as a 'Lienholder' or will simply say 'No Liens' on it. To be sure, you can always call the company that issued the original car loan. If you have further questions, you can call us at 877-511-CASH (2274) and a title loan agent in your area will be happy to assist you.
What if there is another name on the title in addition to mine?
If there is more than one person listed on the title, they should come with you to the MidAmerican Title Loans location.
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 of getting a title loan work?
The process of obtaining a title loan is simple. Bring your photo ID, your vehicle and its title to one of our many convenient locations, and complete a short application. Click here to find the nearest MidAmerican Title Loans location. A Customer Service Representative will work with you to evaluate your needs and your budget, and will do a quick assessment of your vehicle. Once they have reviewed all of the terms and conditions of the loan with you, simply sign the paperwork and you will be on your way - with your cash AND your car!
How long does the title loan approval process take?
Typically, the entire process from beginning to end takes 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 begin the title loan process in person or online?
MidAmerican Title Loans provides an area where customers can begin the loan process online to offer you the choice. We want the process to be as convenient for you as we can make it. If you choose to get a quote online, we can pre-qualify you. Following the pre-qualification, a representative will call you to discuss finishing the loan process at one of our many locations. Should you prefer to begin the title loan application process by phone, you can call us at 877-511-CASH (2274) to speak with a representative in your area.
Will I still need to visit a MidAmerican Title Loans location if I apply online?
Yes. All customers must visit a MidAmerican Title Loans location so that a Customer Service Representative can evaluate your vehicle and you can sign the paperwork. Most importantly, you must be present so that you can receive your cash!
Why does the online application ask for so much information?
We require some basic information about you to begin the pre-approval process: your name, telephone number, income, year/make/model of your car, etc… The more information that you can provide online, the quicker we can process your title loan when you arrive. The other information that is asked, but not required, can be reviewed at a MidAmerican Title Loans location with a Customer Service Representative.
Is my personal information safe with MidAmerican Title Loans?
Absolutely. For over 25 years, we have never had a data security breach. All data is stored securely in fireproof safes and on encrypted servers. We adhere to federal and state privacy laws, as well as the Gramm-Leach-Bliley Federal Information Safeguarding Law.
I'm self-employed. Can I get a title loan?
Of course! Many of our small business customers are self-employed, and use title loans to keep their companies running. Title loans can be a great way to get working capital to replenish supplies or pay an unanticipated expense.
Can I get a title loan if I'm unemployed?
Yes, we cannot discriminate against a borrower’s source of income by federal law. We will consider many factors when you apply, such as any unemployment benefits, a start date for an upcoming job, or the income of someone who may co-sign on your title loan.
Does it matter if my credit score is low?
No. A title loan is granted against the value of your vehicle. We believe that owning a vehicle free and clear verifies your creditworthiness.
If I do not pay my loan back, will my car be repossessed?
Repossession of a vehicle for non-payment of a loan is uncommon, but can occur. An automotive title loan, afterall, does use your vehicle as collateral. However, MidAmerican Title Loans works with its customers in any way that they can, and repossession is only used as a final measure. It is not a desirable process for either party.
Is there a prepayment penalty?
No. With MidAmerican Title Loans, there are no prepayment penalties.
How can I make payments on my title loan?
We make it convenient to pay by offering several options. Our knowledgeable Customer Service Representatives will review all of these payment options with you at the time you receive your loan. Almost all of our locations accept cash, money orders, cashier’s checks, debit cards and Western Union. You may also make a payment online by clicking here.
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