Get Cash With An Albuquerque Title Loan!
Apply now with Express Car Title Loans to get a same day title loan in Albuquerque. There's no need for good credit with loan amounts over $5,000!
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- Bad Credit Is OK
- Amounts Up To $25,000 In NM
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Interest Rates For Albuquerque Title Loans
The APR for a title loan in Albuquerque is based on your vehicle's value and your ability to pay back the loan. Expect an interest rate between 25 and 36% for most title loans under $10,000 in NM. As of 2024, there are no interest rate caps or repayment restrictions for loans over $10,000.
Requirements for Express Car Title Loans in Albuquerque, NM
You must provide collateral in the form of a paid off vehicle or a car or SUV that's nearly paid off with significant equity. The car has to be in your name and you need a physical pink slip to hand over to your lender.
To qualify for most title loans in Albuquerque, the vehicle must be valued at over $6,000. Lenders typically have a minimum loan amount of $2,500. You can often borrow 40-55% of a vehicle's value, so you will have trouble qualifying for a loan with any car or truck under that amount. Determine your vehicle's title loan value by looking up comparable sales in New Mexico based on your car's year, make, and model.
You must provide documentation proving you're a resident of New Mexico and valid registration information. Any driver's license or state ID will be fine, but we need updated records from the MVD in Albuquerque.
Income Verification. We must ensure you can repay the loan! Just because you qualify for an auto title loan based on the vehicle's collateral doesn't mean you can repay the loan! We need to know how much you make each month so we can set a reasonable monthly payment and payoff amount. Send in bank statements or some documentation from your employer to verify this info.
