TitleMax Auto Title Loans Benefits
TitleMax can easily brag of its decent standing. It has gained the trust of its customers after so many years. This can be proved by such features as:
- A simple process. The application process is clear and straightforward. Fill out some details and get your cash.
- Quick approval. The process of online loans application won’t take long. After you provide the necessary information, you can get money fast, just in 30 minutes.
- Availability. TitleMax operates in more than 1000 states. Depending on the type of the loan and state. the requirements do not differ a lot.
- A bad credit. Since you put your vehicle as collateral, there’s no point for TitleMax promote no credit check. Furthermore, your vehicle is under your using anytime.
- Client support. This service is always at your disposal if you do have any questions.
How Car Title Loans Work
Thanks to automated and improved system the process of getting title loans is so simple. The whole application procedure is about 30 minutes.
So if you’re up to make use of TitleMax auto title loans or motorcycle title loans here’s what’s required.
You provide any identification document and a title to a lender. It estimates the value of your vehicle and your sum of a loan. So soon as it is approved you will immediately receive your funds. Loan amounts usually range from 20% to 50% of the value of the vehicle. Some lenders will ask you for extra keys. Title loans repayment is usually up to 30 days but you can always extend this period in case of unforeseen troubles.
How To Get Your Title Loans Approved
Just in a matter of minutes, you can apply for any type of a loan you are interested in. Thanks to the car titles loans online, it will take about 15 minutes to fill in.
In order your application to be successful, make sure all your information is correct and actual.
The most important requirements are the ID card and the original title of a vehicle. And with the help of a friendly TitleMax team you will get funds the same day.
How Long Does It Take To Get Approved For A Title Loan
TitleMax is considered to be one of the best title loans companies that simplifies the application process. After your provided data is checked and approved, you will get your funds in 15 – 30 minutes. This is a huge difference from bank, as it won’t provide you with instant money, it will also wonder the purpose, while TitleMax team understands there may be various purposes due to various financial emergencies. Today, at TitleMax, you will get the car title loans completely online just in a snap.
Can I Get Several Car Title Loans?
There are no limits on how many times you can apply for title loans. So long as you have a clear title and you have no previous title debts, you are free to get another loan. But you are not allowed to get multiple car title loans at once.
Extra Fees For Title Loans
Title loans are regarded as expensive due to high percentage and additional fess. So what to expect prior to applying for this service? Direct lenders usually include the next fees to charge:
- An origination fee – it is a compensation for processing a loan;
- Title service fees – it is a part of the costs when you get a collateral;
- A finance charge;
- Per – transaction fees;
- Documentation fees – to process a vehicle paperwork;
- An overdue fine – if you won’t pay back on a fixed date;
- Lien fees.
Taking all these fees into account, it’s crucial to figure out the lender’s terms and conditions earlier that applying for an on-site ‘near me’ or online title loans. Make certain that the lender exposes all fees, especially the annual percentage rate.
The percentage rate is about 25% for a one-month loan. A $1000 title loan will then cost you $1250. The sum may be more due to extra fees or in case you fail to repay on a fixed date. Of course, you can extend your payout period, but that again will cost you some extra money. In the case of non-compliance with the lender’s terms, it can repossess your vehicle.
How Can I Get Best Title Loans?
TitleMax is one of the best and reliable lenders that will satisfy all your unexpected financial emergencies. Bring your vehicle to one of the near TitleMax stores, provide it with your ID card and the original title of the vehicle and stick to the requirements.
In Alabama, you must be at least 19 years to get a loan. There you will be required a government issued ID and a lien-free vehicle title.
The states of Arizona, Delaware, Georgia, Mississippi, Missouri, New Mexico, South Carolina, Tennessee, Utah, Virginia and Wisconsin will give the loan to 18-years old clients and obtain from them a government issued ID and a lien-free vehicle title. California will also need the proof of your income, current residence and vehicle registration. Illinois will also require the proof of your income.
When I Will Not Be Approved For A Title Loan?
The lender needs guarantees, otherwise it won’t give you money. Since lenders don’t pay attention to your credit history, which is completely perfect for bad credit clients, they pay attention to the value of your vehicle. Thus, if you want to get money more than your vehicle is estimated, you will definitely be refused from getting it.
Some states ask for the proof of your income, as in case of timeless payout, they need to know you will also be able to pay a fine.
The vehicle must have a lien-free title. If not, it’s one of the reasons of the refusal.
Lenders are responsible in providing clients with the cash advance, therefore, they are expecting the same responsibility.
Costs Of Online Title Loans
In most cases, clients can borrow up to 25% of the estimated value of the vehicle. It doesn’t’ matter whether you applied for it online or on-site, the average interest is 25% in a month.
Most title loans are given for a month period and take a percentage of 25%. In short, when you apply for $1000, you have to pay them back with extra $250 fees. With one month repayment period, you have to hurry up, otherwise the lender will repossess your vehicle.
Depending on the type of the loan and a lender, you can choose the way of repayment. You have an option of paying online, in – person, or via automatic payment function. The last one will be connected to your banking account and will withdraw money on a fixed date. As soon as you pay off the loan and have no debts, the lender gives you’re a clear title back.
Repayment Period Of Car Title Loans
After your loan is approved, it means you will be able to pay it back. Usually, you have to pay off the loan in one month. Don’t forget that you can extend the repayment period in case of unexpected financial emergencies. Another factor is connected with the state of your residence. For instance, Delaware has a limited time for 6 months, Georgia and Idaho cap it to one month.
Variants of repayment are different. You can pay back by check, cash or money order. In states of Georgia, South Carolina, Mississippi, Arizona, Tennessee, Missouri and Virginia you can also make use of Western Union.
Some Title Loans Alternatives
With a poor credit history, it seems that car title loans are the best option. But they may be expensive. Thus, think about some better title loans alternatives.
- Personal loans. They are available at online lenders and banks. They don’t require any collateral, but need a verifiable source of income.
- Loans from close friends or family. You can easily ask them for money when it’s really necessary. For better guarantees, you can even sign a contract.
- Find side works. You can either sell goods you no longer need, or think about freelancing.
How Can We Help You
Auto title loans are a bit risky, but if you really have faced sudden expenditures, you need cash in advance and own either a motorcycle or car to put as a collateral, then TitleMax will help you in any tough situation. It will not ask you about your purpose and there will be no credit check.