Have you heard about title loans? If not, then you are missing out, especially if you live in or around Portales, NM, where title loans are widely available and where we connect you to excellent title loan lenders

Title loans Portales residents should know about short-term cash loans. They are delivered to the borrower very quickly, typically on the same day that they are applied for. Plus, they do not require borrowers to have good credit or even any credit.

The reason that credit isn’t a consideration with title loans is because, as the name implies, they are collateral-based loans. The collateral, in this case, is the borrower’s vehicle title. Since the vehicle title mitigates the risk for the lender, there is no need for a good credit score.

When it comes to title loans New Mexico not only has a lot of great lenders, but it also has some good resources to help borrowers along the way. If you are ready to start your journey with title loans, make sure you take advantage of these resources.

The Portales Motor Vehicle Division

One of the aforementioned resources you can make use of as you start your journey with title loans is the local motor vehicle division. To begin with, the motor vehicle division will be a wonderful help if you cannot locate your vehicle title and need to get a duplicate copy of it.

However, even if you do have your title on hand and ready to go, the motor vehicle division can still help you out with many tasks related to securing your title loan, including all of the following:

● Getting a state issued identification card if you do not have a driver’s license
● Obtaining the vehicle identification number (VIN)
● Determining if there are any liens on the vehicle and, if so, how to clear them so that you can qualify for a title loan
● Getting proof that all liens have been cleared
● Determining if, at any point during the title loan process, the vehicle title changes ownership

Though the Portales motor vehicle division is certainly a great resource, it is not your only one. Another good resource you have is access to a wealth of legal information dealing with title loans and how they work in New Mexico.The more you educate yourself on statewide title loan laws, the better equipped you will be to go through the borrowing process with ease. To help get you started, we’ve covered some of the things you need to know below.


First of all, understand that, in New Mexico, title loan lenders are required to be licensed. A licensed lender is one that meets certain qualifications and that has been verified to operate legally and fairly. Obviously, licensed lenders are the only kind of lenders you will want to deal with, period. Unlicensed lenders are dangerous, illegal, and certainly not worth your time.

You can call your local sheriff, your attorney general’s office, or even the better business bureau to ensure that a particular lender is licensed, and you absolutely should take steps to ensure licensing status before taking out your loan. You’ll enjoy a great level of protection by working only with licensed lenders.

Loan Limits

Unlike some other states, New Mexico does have a limit in place as to how much a borrower can borrow on a title loan. That limit is $2,500; that is the maximum amount that borrowers can receive. And, while that limit is frustrating to some borrowers, it is there to protect borrowers from getting in over their heads on their loans.

Do keep in mind, though, that you do not have to borrow that much and that you should borrow within your limits! If you can follow that tip and the others presented here and make use of good resources, your experience with title loans should be a positive one.