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$500 borrowed for 5 months. Total amount repayable is $999.85 in 5 monthly installments of $198.37. interest charged is $491.85, Interest rate 236.1% pa (variable). Representative 481.6% APR.
Understanding Online Title Loans and How to Get One
Loanshores.com offers nationwide Title Loan online. We provide borrowers with an easy, straightforward online application, on-site inspection of the vehicle, as well as payment terms that are not only flexible but do not come attached with prepayment penalties.
Getting a Title Loan: Things You Need to Do
Fill out the application form
Our title loan application is not only simple but it doesn’t rewire credit checking too. Yes, a credit check is no longer necessary is you are to apply for an auto loan with us. What we are more concerned with is how you can pay the title loan back instead of being hung up on whether you have built a strong credit history or not. This is why, for a title loan application, you will need to prove the following:
- You have an income source
- You are indeed the owner of the vehicle
Note that your income doesn’t need to be from full-time employment. There are many cases where lenders will still approve an auto loan to individuals on disability or unemployment.
One of the most common questions that prospective borrowers ask is whether lenders will have to perform a credit check if they will take out a loan. What lenders will check are outstanding debts on the vehicle as well as the amount that you still owe the finance company. Aside from that, there are no other credit checks that they will perform. Unfortunately, individual’s that are still paying their vehicle may not qualify for an auto loan, only those that already own the title to their vehicle. Not to worry though, there are other types of loans that Loanshores.com can offer to fit your circumstances.
Talk to a Representative
Once you have successfully filled out the application, expect one of our representatives to get in touch with you to ask you more questions and to finalize the details of the loan. This is a good chance for you to ask as many questions as you can about the loan before the application process is completed. You will also be presented with loan paperwork which you will then need to review online. Part of the documentation includes repayment information, as well as details regarding the interests and late fees. Our online title loan is designed to get processed without any need for you to have to get out of the house or find a fax machine to get your details sent to us- everything is done online!
Present the Vehicle Title
After completing the application, a date and time will be set up for you to meet with a messenger who will take photos of the vehicle as well as collect the documents, hence, getting rid of the need for you to fax your documents to us. Also, you will be able to continue using your car for the duration of your loan and there is no need for you to have to physically give it up.
Retrieve your Cash
After the lender successfully processes the application and gets the car title, the money transaction will then take place. The loan amount is deposited directly to the account you have nominated. The loan amount will be dependent on the value of the vehicle. Depending on how fast you can affix your signature on the required documents and a messenger can get to your place to meet you and collect the title, the whole process can take between 24 hours and a couple of days.
The loan process is easy and will let you secure the cash you need in no time. There isn’t even a need for you to leave the comforts of your home. Usually, auto loans are expected to be paid back around your next payday, however, this can vary depending on the loan amount as well as how often you get paid. Your loan documents should indicate the exact loan repayment schedule. Since the loan requires a vehicle as collateral, you can expect the loanable amount to be significantly larger with the interest rates significantly lower compare to no collateral payday advance loans. Note that online title loans should not be used as a means to pay off multiple payday loans. Cases like these would require you to look for something more appropriate such as a payday consolidation loan.
Online vehicle title loans are not only simple but they are efficient and helpful too. Whether you are dealing with home repairs, a sudden medical emergency, or just need some financial help in catching up on some payments, this is a cash advance option that would work wonders for you. Do you own a vehicle and have a regular income source? Then it should not be hard for you to qualify for a title loan. Just remember, we do not check your credit at all. Whether you may have been repossessed or gone bankrupt in the past, you can still qualify for a loan. Besides, filling out the online title request form is free so call our toll free number to find out if you qualify today!
How Will My Application Work?
We will never sell or exchange your info to other online owners.
Paid Into Your Account
We will deposit the money you need directly into your account within the day.
We will provide you with the best loan even if you have issues with your credit line.