Title Loans Marshfield
Changing seasons doesn’t just mean a change in temperature. There are extra expenses that most people somehow neglect to add in the budget, if they even have a budget. Things like a new winter coat for the child who outgrew their old one or extra fuel costs to keep warm. While you’re forking over money for these necessary items and wondering how you will make it on the meager funds you have left, think about title loans in Marshfield and how they can put money back in your wallet.
Anyone unfamiliar with title loans might think they are some type of scam. That’s a misconception. Title loans are a simple financial transaction that actually helps many people. When a person needs money fast, they apply for a title loan and pledge their vehicle as loan security. They give the title to the vehicle to the lender, and they get money. When the loan is paid off, the title is returned to the borrower. Because these loans are secure, there is no credit check. Easy, right? All you need to qualify is a vehicle that is lien-free and paid off. The applicant must be listed on the vehicle registration, they must be at least 18, and they must have enough income to pay back the loan. This can be from their job, unemployment or disability benefits, a pension or another source.
Title Loans Marshfield Application Procedure
Keeping it simple is a common theme for title loans in Marshfield, which is why the online application is so short. Just the basic information is need, such as the make and model of the vehicle used as collateral and the name and number of the applicant. It takes a couple of minutes, maybe less, to fill out the form and click submit. A loan quote follows, then a call from a Midwest Title Lender loan agent who will help you complete the loan. Part of this is to examine your vehicle’s condition to make sure its value matches the loan offer.
Wisconsin Legal Information
- Loans can total 50 percent of the value in a borrower’s vehicle but can’t be over $25,000.
- A borrower can cancel a loan if they pay it back by the end of business on the day after they accept the loan money.
- Before signing loan documents, borrowers must be given a written statement of the loan and fees they must repay.
- Borrowers of defaulted loans must be given 20 days notice before their vehicle is repossessed by the lender.
Benefits
Having someone say yes to a loan application is a benefit for everyone, but especially those with credit problems. Being turned down repeated because of bad credit means you never get the financial help you need. With title loans in Wausau and Marshfield, that help is always available because there is no credit check with Midwest Title Lender. No one is scanning your list of debtors to see how much you owe and if you pay the bills on time.
Title loan money comes to you so fast it almost seems impossible. Yes, your collateral is what secures the loan, but when a bank loan requires the applicant to provide collateral, they do not get the money the same day that they apply for the loan. Most times, in just one day, the entire title loan process is completed.
Interest rates are usually lower with title loans than with other types of short-term loans. Loan terms are up to six months, but they can be renewed when a customer needs more time to pay off their debt.