When it comes to getting more out of your vehicle, you might first think of maintenance tasks such as changing the oil, transmission fluid, air filter and other things that keep it running. But did you know your vehicle could also be a way you can have cash in your hand while still keeping it? No, you don’t have to sell your vehicle when you need some money to buy Christmas gifts, go on a road trip or pay your creditors. If you own a vehicle, you can borrow money from it using our kind of loans which are auto title loans in Dubois, ID.
You won’t get as much using title loans as you would selling your vehicle, but when you have expenses ranging from only a few hundred to a couple thousand dollars, these loans are a good way to pay for those expenses. Trying to get these kind of small-dollar loans from the bank can often be more trouble than they’re worth since loan officers there have strict income and credit requirements, and many banks ignore the small-dollar loan markets anyway. Our auto title loans in Dubois, ID do require income of some kind, but we’re pretty flexible with that if you own your vehicle outright and have a plan to repay the loan.
This is one of the most basic questions that people ask about using our title loans. You should know that these loans should be used only for a short period because they are not like credit cards that you can use for everyday purposes and a means to carry debt. But our title loans do give you 30 days to either repay in full or make a minimum payment. By making the minimum payment, you can extend your due date another 30 days, but be advised your next payment could be significantly more if you do so. Your best bet is to make it a priority to repay your title loan in its entirety ahead of time since there is no penalty to do so.
We do not ask either on your application or in person what you plan to do with the money from auto title loans in Dubois, ID. We know that this question comes up a lot when you fill in applications for a bank loan, and in some cases you just might not feel comfortable saying what you want the loan for, or you may feel the bank doesn’t have a right to ask. But we don’t ask because if you have the means to repay your loan and understand what could happen if you default on it, it doesn’t matter to us what you do with it.
The best way to apply for one of our auto title loans in Dubois is to start with our online application. You begin with filling the application and getting your title loan estimate. You will need to visit one of our title loan locations near you so you can have your vehicle inspected and give the lender your title. You need to bring a photo ID such as a driver’s license, your vehicle title, and one other document in addition to your vehicle itself to verify the following:
What we do is go over the paperwork with you and make sure you understand what your payments will be and what the legal ramifications are with them. Once you’ve signed everything, you should be approved and receive your title loan within a short period.