Title Loans South Elgin, IL
Title loans can come in handy for a number of purposes. You can get cash to replace old appliances with new ones that are energy efficient, take care of plumbing problems or even pay down one or two high interest credit cards to free up cash for other bills. People use them for all kinds of different reasons. However, in general, everybody agrees they are easy to get and there when you need them.
For the most part, these are small loans of a couple of hundred or even a few thousand that really come in handy. As opposed to other types of loans, they are usually paid off in 30 days or a little longer. Title loans in South Elgin are short-term loans secured by the title to your automobile. Secured loans typically qualify for much better interest rates, which helps to keep payments down. Midwest Title Lender can also offer higher payouts and qualify many folks with bad credit or those that have previously been turned down by a bank. If you have bills to pay or need fast cash for unforeseen emergencies, you might want to learn more about how car title loans in the Midwest work and how you can benefit.
Advantages of Title Loans South Elgin, IL
- Spend loan proceeds on anything.
- Fast cash in 24 hours or less.
- No credit checks.
- Easy qualifying.
- No early payoff penalties.
- Professional services.
Applying for Title Loans South Elgin
To apply for title loans in Elgin, you’ll need to take a minute to fill out our online application. We require a small amount of information about your automobile and some contact information, which includes:
- An estimate of your mileage and the age of the car. The body style, make and model.
- Your phone number, zip code and your full name.
Shortly after you have submitted your loan information, you’ll receive a phone call from a loan representative. Your rep will provide you with a title loan quote, information about the loan process and answer questions about title loans in Illinois. He or she will also help you to choose a payment plan with affordable payments to meet your budget needs.
To complete the loan process, you will need to read and sign a contract written according to state regulations. Contracts will include the total loan amount, payment schedules and minimum payment amounts and any fees and the interest rate of your loan.
At the loan closing, you’ll be required to turn over the title to your automobile, and you’ll receive your loan payout, which you are free to spend any way you like.
How Are Loan Amounts Determined?
Before deciding on a loan amount, we must assess the value of your automobile that will be used as collateral. During the vehicle assessment, we will consider the age, mileage, equity and the overall condition of the vehicle. Once the base value has been established, Midwest Title Lender applies a percentage to the value to determine a loan amount. Loan amounts will also be consistent with your ability to repay the loan.
How Quickly Could I Get a Car Title Loan?
We can process loans very quickly. Loans are normally paid out in as little as a day or less.
What Will I Need to Qualify?
- The paper title to your car, which is free of liens.
- The car registration, which states you are the owner of the vehicle.
- You must be at least 18 to enter into a contract and be able to confirm your age with a driver’s license or an Illinois state identification card.
If you are in the market for a quick loan with good interest rates, consider title loans in South Elgin, IL with Midwest Title Lender.