Frequent Asked Questions

How It Works

What is an auto title loan?
An auto title loan is a short term loan secured against your automobile. GMAutoFunding.com offers you a convenient and secure way to borrow funds against the equity in your vehicle. Your car is the collateral for the loan.

Speed, accuracy, and efficiency will form the business partnership you have always been looking for with a company, GMAutoFunding.com.

Your vehicle needs to have a wholesale value of $2500.00 to be eligible for this loan.
All loan applicants must be at least 21 years of age.

LOAN APPROVAL: Your application will either be approved or declined based on GM Automotive Funding evaluation of your submitted information. Additional information may need to be faxed to our office.

How much can I borrow?
The loan minimum is $500.00. The amount you may borrow is determined by the wholesale value of your vehicle.

What is required to apply for an auto title loan?

1. Auto title ( free and clear of any liens)

2. Personal Data

3. Drivers License

4. Social Security Card

5. Vehicle Registration

6. Proof of Insurance

7. Most Recent Paycheck Stub

8. Current Home Phone Bill & Utility Bill

9. References (4)

10. Spare set of Car Keys

 

How much does it cost?

The loans provided by GMAutoFunding.com are installment loans. This means that a portion of your payment goes towards the interest and a portion goes to the principal. A customer can choose the term of the loan, either six (6) or twelve (12) months. GMAutoFunding.com charges 10% interest per month for auto title loans. + a $40 processing fee taken out of the loaned amount.

THERE IS NO PREPAYMENT PENALTY.

Examples of Auto Title Loan for a 6 & 12 month term, the monthly payments and finance charges are reflected in the chart below:

Months	Loan Amount	Payment Monthly/Bi-Weekly	Interest	Total Payment
6	$500.00	$115.00/$57.50	$188.00	$688.80
6	$750.00	$173.00/$86.50	$281.58	$1,031.58
6	$1,000.00	$230.00/$115.00	$376.82	$1,376.82
12	$1,000.00	$148.00/$74.00	$758.70	$1,758.70
12	$1,250.00	$184.00/$92.00	$945.79	$2,195.79
12	$1,500.00	$221.00/$110.50	$1,133.90	$2,632.90
12	$1,750.00	$257.00/137.50	$1,333.32	$3,080.32
12	$2,000.00	$294.00$147.00	$1,517.80	$3,517.40

* subject to change at anytime with out notice amounts may vary.

REMEMBER: THERE IS A BEGINNING AND AN END!!!

How does getting an auto title loan work?

Step #1 - Complete our online application and submit the application from our web site. You will receive an email response with a pre-qualification or denial.

Step #2 – If you are pre-qualify you will be scheduled to bring in your vehicle to our location. At that time we will inspect your vehicle and loan paper work.

Step #3 - After signing the loan contract, the proceeds of your loan can be electronically deposited into your checking account that business day (assuming the transaction was completed by 3:00 pm CST) or we do money orders – Prepaid Visa credit card.

Step #4 - On your due date, GMAutoFunding.com will phone and e-mail you regarding your payment. You will have the option to choose the payment method that works best for you.