Title loans Timberlane can be a great loan option for borrowers needing money fast for emergency situations and bills needing to be paid quickly. There are not many other loan types that are as easy to apply for as a car title loan. In some cases, they can be applied for and approved the same day. Anyone that has a car with a clean title can usually get a title loan. These loans are short-term loans that come with simple repayment plans that anyone can follow.
A title loan in Louisiana is a secured loan that can be taken out by the borrower using their car’s title as collateral for the loan. The lender will need to obtain the title before they approve your loan and will be able to use that title to sell the car if you default on the loan. Once you have repaid the loan in full, however, you will receive your title back. Most loans will not need a credit check for approval because of the title being used as collateral. These types of online secured loans are perfect for borrowers who have less-than-perfect credit and have trouble getting approved with more traditional loans.
When you are considering applying for title loans in Timberlane or for title loans in New Orleans, you will find it is much more simple than you would expect. The application is easy to fill out and you only need some basic information about yourself and the vehicle in question. For the car, you will need to supply the car’s make, model and mileage on the application. Additionally, you will need to supply information about the borrower including full name, address, zip code and current phone number to be reached at. In most cases, the application will take less than an hour to finish. Once you have filled the application out and submitted it, you will be contacted by a representative at your earliest convenience with your free title loan quote and to discuss the terms of the loan and set up a repayment plan.
Every state that allows title loans will have their own set of rules and regulations on how much interest lenders are allowed to charge their borrowers for loans. In Louisiana, the amount any lender may offer to an applicant for a title loan is set at greater than $350. No amounts may be lower in order to avoid certain state restrictions. Additionally, a lender may not charge more than thirty six percent interest on the title loans they give out. The actual amount of interest a borrower may be charged will depend on the lender and the amount of the loan.
Simple Loan Process
As opposed to other loan applications, title loans have simple application processes. You can apply within an hour in many cases and have the funds in as little as one business day.
No Credit Check
Most lenders don’t require credit checks for title loans. The car’s title being used as collateral means the lender has less risk involved on their end so a credit check is not necessary in most cases.
Can Drive Car
While you are repaying your title loan, you will still have full use of your car. You will not have to wait until your loan has been repaid in order to drive the car that was used to apply for the title loan.
Easy To Pay Back
When you initially fill out the application, a representative will call to discuss with you a repayment plan that will work for you and be simple to follow.
Repossession Is Very Avoidable
Title lenders don’t like to repossess your vehicle, its inconvenient for them, as well as for you. Title lenders would rather work out a payment that works for you and them.