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Title Loans Dekalb, IL

Car Title Loans In Dekalb, Illinois Are An Option

Named after Revolutionary War Hero, Johann de Kalb, the city of Dekalb is situated in northern Illinois on the Kishwaukee River. The city’s more than 43,000 residents enjoy a range of seasonal outdoor activities in Dekalb’s extensive network of green spaces such as the River Heights and Buena Vista Golf Courses and the Elwood House Museum and Park, listed on the National Register of Historic Places. Also listed is the Egyptian Theater, built in 1928 and still hosting an annual theater season. Northern Illinois University is the city’s largest employer and offers cultural opportunities for residents and students.

Sometimes you need a little extra money for business or personal reasons to help you meet your financial goals. Maybe you need to buy a new computer or office printer for a small business you own, or perhaps you might need that money to get your initial startup costs met for your business. You might also need a little money to pay your own bills such as home repair costs, a visit to the doctor or even a little money for college tuition. It’s not always easy to find that money because your friends or family might be going through difficult times, and sometimes financial institutions like banks and credit unions can be picky about who they lend to. Luckily, Illinois is a state that allows car title loans as an alternative to regular loans, and you might be surprised to hear how easy it is to qualify for one.

If you live in the Dekalb area or in nearby towns just outside of Chicago, we can help you find car title loans in Dekalb agencies. Car title loans are basically available to anyone who owns a vehicle and lives in Illinois permanently. What happens during the auto title loan application process is a lender appraises a vehicle, and then in exchange for the title they will issue a loan amount that’s usually a portion of the vehicle’s value. You’re free to use your title loan money for anything you need.

Laws About Title Loans DeKalb And Illinois In General

Before you decide to borrow money using a car title loan, it’s important to know what the State of Illinois says about them. Most laws are in place to protect you from any dishonest business practices or misleading information. Here’s a few of Illinois’s important car title loan laws:

1. Car title loan lenders must be licensed by the Illinois Consumer Credit Department
This licensing department works to make sure the lender is adhering to car title loan laws and is reputable. Our lenders are all registered to do business in Illinois. But if you have any questions about a lender’s registration, you can check this list or call the Illinois Consumer Credit Department.

2. Car title loans cannot be more than $4,000 in principal
Many states do not have any limits on how much you can borrow in a title loan, but in Illinois the loan amount can be no more than $4,000. This is to make sure consumers are not caught in an ongoing debt trap. Along with this law, lenders can only have simple interest, which is interest only based on the initial principal of the loan, and not hidden interest fees.

3. You Cannot Use One Car Title Loan To Pay Off Another One
With the exception of having your car title loan refinanced in case you’re falling behind on payments, you cannot use a car title loan to pay off another car title loan. You can only take out one loan at a time, and that loan must be paid off prior to taking out another one. If you’ve taken out a payday loan and paid that off, you must also wait 15 days till you take out a car title loan.

Added Benefits Of Car Title Loans Dekalb

In addition to using car title loans in Dekalb, IL to either fund your business or pay off debts you might be carrying, the approval process when you apply for these loans is very quick. You do not have to have a good credit score to be approved, and the main credit bureaus are never contacted during your application. That’s because your vehicle is used to secure the loan and covers the costs. Your income also helps the lender determine how much they should issue in a car title loan. To find out how much you qualify for in a car title loan, complete our application and provide us your contact information. Once you complete all the application steps and are approved, you should be able to get your title loan money in 24 hours or less.

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