Buying a car from  Lightning Auctions?

Found the perfect car but don’t have quite enough cash?
We may be able to loan you the difference between what you've saved and the vehicle you want.
Prequalification is required (see requirements below).

Gap Loan Amount

30 Day Payback

7 Payment Amount

Credit will cost you

(if you take the whole 7 months)

$500

$544.50

$99.00

$193.11

$1000

$1089.00

$198.00

$386.22

$2000

$2178.00

$396.00

$772.45

$3000

$3267.00

$594.00

$1158.67

Frequently Asked Questions

How much cash can I borrow?
We will usually finance up to 50% of the selling price of a vehicle purchased at Lightning Auctions. It is unlawful for us to make a loan with a repayment amount that exceeds the Fair Market Value of the vehicle. The 50% loan-to-purchase price helps us ensure that we do not violate NRS 604A.450.

How long do I have to pay you back?
A Title Loan is, by its very nature, designed to be used for a short period of time. The speed and convenience of using the title to a vehicle to obtain credit is offset by the relatively high cost of the credit. NRS604A.445 prohibits any title loan from existing for more than 210 days. Accordingly, we encourage you to only enter into a title loan with a clear exit strategy.

Is it a good idea to get a title loan to buy a car or truck from Lightning Auctions?
Cars and trucks sell for below market value at Lightning Auctions. If the vehicle's selling price, plus the premium paid to the auction house and the interest that you will have to pay on the loan is less than you'd have to pay for the same vehicle elsewhere, then YES!!!!!

What will I need to bring to get pre-qualified?

Just Bring In:
We will review your paperwork and tell you how much we can lend you based on the limitations outlined in the Nevada Revised Statutes. See the Frequently Asked Questions section above for more details on these limitations. Auto Auction Title Loan customers must reside in and be employed in Reno or Sparks.

As an Example

Here is a sample scenario:
After one of our representatives accompanies you to Lightning Auctions on or before the Tuesday following the Auction, you will be required to immediately have a duplicate set of car keys made for the vehicle, if no spare set is included with the vehicle. Once we have a set of keys for the vehicle, you and your vehicle are free to go! You may pay back the Title Loan in the first 30 days for $816.75 (assuming the $750.00 loan amount indicated in this scenario and a periodic interest rate of 8.9% per 30 day period), or you can take as many as seven months to pay it back. In this scenario, your payments would be $149.00 per month for seven months. If you take the full seven months to repay the loan and interest, you will pay back $288.58 in interest over the 7 30-day periods.

Discount Title Loans Business Hours

Monday-Friday 10:00-5:30
Saturday 10:00-4:00
Sunday 10:00-1:00