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Title Loans Illinois

Title Loans Carbondale

Are you looking for some extra cash for a big weekend trip? Maybe you need it to get a new coat for winter, or perhaps you need money paying bills until you get paid. Well, you don’t actually have to wait for payday to get paid. Just apply for title loans Carbondale.

Title loans in the Midwest are short-term personal loans secured with collateral. Applicants put up their car title to secure the loan, and they do not have a credit check. Without relying on an applicant’s payment history, title lenders are able to offer more loans than traditional lenders. Title loans have a high acceptance rate.

Title Loans Carbondale Requirements

In addition to meeting the age requirement of 18, all applicants must have a source of income. Whether they get the money from a job, unemployment benefits, disability or a source like alimony or a pension, the income must be enough to pay back their title loan. The main requirement is a vehicle, which can be a car, truck, motorcycle or other mode of transportation. The vehicle must not have any liens against it, and the owner must not have payments left to make. Also, the registration must show that the applicant is the vehicle’s owner.

Application

An initial car title loan quote is given after you submit a short application, which asks the make, model, year and mileage of your vehicle, in addition to your name and contact information. When a loan agent calls you shortly after you submit the application, you can discuss the details of your vehicle. Its condition, whether fair, good or excellent, helps determine how much loan money you will get. Within hours of staring your application, you are able to sign a loan agreement, turn in your title, and get the money.

Illinois Legal Information

  • Loan maximum is $4,000, but borrowers may not get an amount that includes payments which are more than one half of their monthly income.
  • Balloon payments are prohibited.
  • Prepayment penalties are not allowed when a borrower pays off their title loan early.
  • Loan companies must hold a license from the Illinois Department of Financial and Professional Regulation.
  • Before signing a loan contract, borrowers are to be informed of all interest and fees they will pay. Lenders must also provide borrowers with a state-produced debt management pamphlet that includes a hotline number for complaints and information about consumer rights and responsibilities.

Benefits

  • Get the cash you need as soon as you need it. With other lenders, you could spend several weeks filling out forms and turning in documentation. Plus, they will most likely ask you what you plan to do with the money because that will impact their decision to approve or deny your loan. With Illinois title loans, it does not matter if you use the money to pay bills or buy yourself a little treat. That’s your business. You say you need money, and it’s our job to get it to you as quickly as possible.
  • By not doing a credit check, there is a greater possibility of approving multitudes of people who are normally turned down for credit by traditional lenders.
  • Sometimes a title loan completely eases the burden of financial problems, and sometimes it only helps a little because the borrower needed more money than they realized.
  • When that happens, and you can’t make your schedule loan payments, talk to us about what you’re going through. Loan agents can restructure things so that your loan is extended to give you more time to pay or so that payments are lowered to a more affordable amount.
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