2. TITLE LOANS FOR FINANCIAL
RELIEF – A POPULAR OPTION
As of April 2020, due to the Coronavirus, all
nonessential businesses have closed their doors
to protect the public and help curb the spread of
the virus. Many citizens, left with no means of
making money, are now resorting to online title
loans for financial relief during these hard
economic times.
4. 1.
WHY CITIZENS ARE
CHOOSING TITLE LOANS
Let’s start with examining why citizens are resorting
to title loans for financial relief.
5. TITLE LOANS PROVIDE
IMMEDIATE RELIEF
The government has issued stimulus
packages for each US citizen and
applications for unemployment due to
the shutdown are being accepted but,
with 15.9 million unemployed and in
need, the wait to receive these
assistances is months long. Online title
loans provide much needed funds in
as little as a day.
6. DENIAL OF BENEFITS
Some citizens Coronavirus unemployment claims for
benefits have been denied. There is now an option
to petition the decision and reattempt to collect
benefits, but that of course only lengthens the
already unprecedented long wait time to receive
funds. This is another motivating factor as to why
citizens are turning to online title loans.
7. 2.
WHAT DO I NEED TO APPLY
FOR AN ONLINE TITLE LOAN?
Let’s continue with the simple requirements to
obtain a title loan online.
8. Online Title Loans Simply Require:
• Personal information (name, contact, and address).
• Vehicle information (model, make, year, and mileage).
• Government-issued identification.
• Proof of income.
• Lien-free title.
• And some lenders will require proof of insurance and/or
registration.
9. 3.
ONLINE TITLE LOANS
TEMPORARY CHANGES
Now, let’s talk about what you can expect of the
verification process during this changing time.
10. LENDERS ARE ADJUSTING
REQUIREMENTS
After being approved for an online title loan, an in-
person vehicle inspection is usually required. With
stay-at-home orders in place and no-contact services
being strongly advised, this part of the process is
difficult but not impossible. Some lenders are
responding to the times by providing at home, no-
contact vehicle inspections or vehicle inspections by
video call.
11. NEED A
TITLE LOAN?
Securing a title loan can be a
difficult and lengthy process.
Save yourself the hassle and
apply for a title loan with
Titlelo.
Place your screenshot here
13. REFERENCES
Titlelo.com | Frequently Asked Title Loan Questions. (n.d.). Retrieved
May 27, 2020, from https://titlelo.com/faq.php.
What you should know about payday loans and car title loans. (2020,
April 23). Retrieved May 27, 2020, from
https://www.consumer.ftc.gov/blog/2020/04/what-you-should-
know-about-payday-loans-and-car-title-loans.
Tradition Media Group. (2020, April 28). Max Cash™ Title Loans Analyzes
the Challenges of COVID-19 Effect on Title Loan Industry. Retrieved May
27, 2020, from https://www.prnewswire.com/news-releases/max-
cash-title-loans-analyzes-the-challenges-of-covid-19-effect-on-title-
loan-industry-301047619.html