Title Loans Morton, IL
There are only 20 states in America that make provisions for its residents to get title loans. Illinois is one of them. In fact, thousands of Illinois residents apply for and successfully repay title loans each year.
If you are in dire need of extra money to get you through a tough financial time, Midwest Title Lender can help you get back on track. We have loan money available for title loans Morton.
Are You Qualified for Title Loans Morton?
The good news about title loans in Illinois is you do not have to qualify based on your credit history or FICO score. Our company does not base your credit worthiness on your past financial actions.
In order to qualify for a loan with Midwest Title Lender, you must meet a few very important requirements. This is a list of requirements that determine whether you qualify for a loan with our company.
- You must have documented ownership rights to the vehicle that is listed on the application. This means that your name must be listed on the title as the owner of the vehicle.
- The car must be paid in full. Title loans are based on the value of the vehicle and equity in the vehicle. If you owe money for an original loan or title loans, you must repay that money before you will be approved for car title loans in Morton, IL.
- As an Illinois resident, you must be at least 18 years old to enter into a title loan agreement with Midwest Title Lender.
- If the vehicle is registered in multiple names, each owner must sign for the title loans in Peoria. In the cases of ownership by multiple people, it is illegal for one party to enter into a title loan agreement on behalf of all of the owners.
- You must have a state issued identification such as an Illinois driver’s license or Illinois identification card.
- You must be able to demonstrate that you have sufficient income to repay the title loans in Morton. Acceptable types of income include:
- Social Security
- W-2 Employment Income
- Independent Contractor Employment Income
- Business Income
How Will My Consumer Rights Be Protected With Title Loans Morton?
The Illinois state government has enacted laws that protect the rights of its residents when it comes to title loan laws. One provision is that title lenders must provide customers with written contracts.
The amount of money that Midwest Title Lender can lend to you is capped at 50 percent of your current monthly income or $4,000. There are no caps on the amount of interest that we can charge for our title loan services.
How to Find a Reputable Title Lender
As you are looking for a financial company to help you through your financial challenge, it is important to take time to investigate each company. Here are some questions that you should ask before you sign with a title loan company.
- How are the interest rates calculated?
- What happens if I am not able to fulfill the loan terms?
- What is the customer default rate?
- Can I repay my loan early without penalties?
- After I submit my application with my name and car information, how long does it take to get approval?
- What type of calculator for title loan does the company use?
Our company is a reputable title lender. Apply for a loan today!