Title Loans in Elgin, IL
Elgin title loans are a quick way to secure emergency money by using your vehicle’s title to back the loan. You can apply for an auto title loan and get approved today. Residents are surprised by how easy it is to apply for title loans through our online portal. You can complete a title loan application in less than 20 minutes.
There are a lot of folks hurting these days because they just can’t qualify for small loans. Take the college students who are struggling to pay for books, cover rent and hope they can pay for tuition. In most cases, young college students haven’t even established a credit history, so they can’t qualify for the most basic of loans. Of course, there are also those folks in desperate need of a loan to pay medical bills or put food on the table, which have poor credit scores. In either case, there is no way your local bank will consider you for a short term loan.
If you really need cash now and have run out of alternatives, Midwest Title Lender could be the solution. We know just how difficult it can be to get a loan, and that is why we offer title loans in Elgin. They are the perfect type of loans for folks that can’t qualify because of bad credit or even no credit history. We don’t even use credit scores. Instead, we rely on your vehicle to secure the loan. You simply submit the title to your SUV, car, van, motorcycle or truck, and we’ll get you the cash you need now.
Funding in a Day with Elgin Title Loans
At Midwest Title Lender, we realize how important your time is. We have gone out of our way to keep the entire lending process fast and simple, as opposed to banking institutions that just seem to drag their feet. Filling out an app only takes a couple of minutes, and our loan reps get back to you the very same day you apply. You really can apply and get your loan funded in a single day.
Students, Professionals, and Self-employed Can All Be Approved for Title Loans
Many folks make assumptions about title loans after dealing with banks in the past. However, in reality, getting Midwest title loans is a far different experience than dealing with a bank. For instance, banks tend to focus strongly on income and of course the credit rating. Yes, we still have to consider income.
Granted, you have to have income to be able to pay back the loan, but we are far more lenient when it comes to accepting a variety of income sources. So if you are self-employed, working on commission, working part-time or even unemployed, go ahead and apply. There is a very good chance you’ll be approved.
The Elgin, IL Title Loan Process
The loan process begins when you fill out our convenient online application. Next, you receive a call from a professional loan representative to discuss all aspects of your loan and answer any questions you may have about the loan process.
Now, is also a good time to make sure you understand the conditions surrounding the loan. You will be required to use your vehicle as collateral. However, you still have the freedom to continue driving your vehicle just like you always have.
At this point, you decide whether title loans in Elgin fits your needs and whether you wish to continue with the loan process. You should also be aware that you aren’t under any obligation to continue with the application at this point and are free to stop the loan process. If you wish to continue, the next step is loan approval. In most cases, loan approvals happen the very same day.
After receiving loan approval, your loan rep will present a contract for you to look over and sign. By signing the document you are agreeing to all the terms listed in the contract. State regulations require lenders to specify the total loan amount, payment schedules and minimum payments, fees and the interest rate associated with the loan.
Once your contract is signed, your loan rep will direct you to the nearest store location where you can pick up your loan funds. The whole process is simple, quick and a great way to get the cash you need now.
What You Will Need to Qualify for a Title Loan
- All applicants should be at least 18 or older, and you must present an Illinois identification card or a driver’s license, which confirms your age.
- In order to pass collateral requirements, your vehicle must be in working order and drive-able.
- Applicants may be required to show their vehicle registration that lists them as the owner of the car.
- To qualify, your automobile must have a clear title. In other words, the title should not show any liens against the car.
- You’ll need qualifying income, which may come from a number of sources like a job, Social Security, retirement income, welfare, alimony and so on.
Beginning the Car Title Loan Process
To avoid long delays and hassles, we don’t expect you to drive to a store location and supply a huge amount of documentation to get a loan. Instead, we have a convenient online application that we encourage everyone to use to sign up for a title loan in Illinois. The only application requirements needed are:
- Your first and last name, zip code and phone number.
- The make, model and body style of your auto used for collateral. We’ll also need the age of the car and an estimate of your current mileage.
In a matter of minutes, you’ll receive your auto title loan estimate. Your estimate is determined by much of the information you input on the application form, so make sure everything is as accurate as possible when filling out the form.
Getting an Affordable Loan
Once your application is in our system, a loan representative will call. He or she will confirm the details of the loan and work closely with you to determine what loan amount you can afford.
Our goal is to get everyone approved for a loan as quickly as possible. However, it is very important to us and to you that you find a realistic payment plan to fit your budget. Your loan rep will help you to choose the best plan for your individual needs based on your income, available payment plans and interest rates.
We don’t have any kind of prepayment fees or penalties. Just let your loan representative know if you can pay off the loan early and he or she will make the necessary arrangements.
Application & Consultation Fees
We also don’t charge applicants to apply or to consult with a loan rep. You are encouraged to apply so you can get a loan estimate upfront and we are happy to discuss loan terms.
By avoiding credit checks, we are often able to qualify many folks that might normally be disqualified. It works well for us and it’s great for our customers.
Hassle Free Services
Our customers love the easy online application and how quickly we can approve and payout loans with no hassles.
Competitive Interest Rates
We understand just how tight budgets can be, and we will work to find the very best interest rates to keep payment costs down.
Loan Funds and Driving Restrictions
You are free to take out title loans in Elgin, IL for any purpose. How you spend the money is strictly up to you. In addition, there simply aren’t any driving restrictions.
Whether you need money to buy college books, make repairs around the house or are overdue for a short vacation, consider title loans in Elgin by Midwest Title Lender.