There are many different lending options that are good for a variety of situations. For example, payday solutions offer a few hundred dollars in an hour or less, but the loan term lasts between between two and four weeks. Cash advance provides for a longer loan period and allows the client to carry out more cash, but the interest rates can collect to insane levels over time. Signature loans are more of a long-term solution that combines low APRs and high loan sizes, but they require a good credit score.
Title loans Arlington offer all of these strengths with none of the drawbacks. However, there is one major requirement: Your name must be legally assigned to a motor vehicle that you’re willing to place as collateral until the loan debt has been relieved. The collateral exchange uses the title, allowing you to keep using the vehicle as needed while you pay us back. Once you’re finished, you’ll get the title back as if nothing ever happened. We’d say that’s pretty convenient!
Many lenders out there have gone the way of quick and simple online application processes, but we know that some prospective clients have probably been burned once or twice on forms that feel like a packet for government benefits. Rest easy — we just need to know the simplest details about you and the motor vehicle in question, whether it’s a car, truck, motorcycle or boat. It just takes 30 seconds.
Once you’ve provided us with everything, a free loan quote is generated for you on the spot. Kick back and relax while a loan specialist reviews your submission and reaches back to get the ball rolling for you. All we need from you at this point is evidence of your identity and some information about your income. We’d prefer to know about your expenses as well, as this is a legal step in ensuring that you can pay the loan back in time.
It’s much preferred that the title has no liens on it. If there are any, it can significantly reduce the amount of cash that you’re allowed to take out or disqualify you altogether. You may still be able to get Florida car title loans even if you’re on unemployment or disability, but the loan may be administered on limited terms. You must be 18 years or older to carry out title loans Arlington.
All loan specialists whom you work with have jumped their hoops with the state government for their competence and honesty in dealing title loans Arlington.
As mentioned earlier, we have to check your income and outgoing expenses in order to assess how much you’ll be able to afford over what period of time to ensure that your payments are timely.
3. Loan Period
Generally speaking, the initial period for auto loans can not be longer than 30 days; however, we offer refinancing plans to help extend that for clients who need more time.
We can’t repossess your vehicle within the first 60 days after the loan has been created. If you fail to refinance or pay the loan off within that time, we’re legally capable of seizing your vehicle.
Our annual percentage rates must stay within 10%. Violating this law is usury, which is a serious offense.
Let’s check out the upsides of title loans Arlington one more time: