Title Loans Missouri
Having the internet at your fingertips has definitely changed the way most people shop. There is a good chance; you wouldn’t buy an expensive item for your home without researching it on the net first. The same can be said for title loans in Missouri. Even if you are broke and desperate for cash, you never want to jump into a loan of any kind without doing a little bit of research about the company, their loan products, loan terms and benefits. This makes perfect sense, and at Midwest Title Lender, we are glad you’re taking a few minutes to learn how we operate and what we can do for you. We offer auto title loans to people who need cash now. These are short-term loans, which can easily be paid off in a few weeks, 30 days or longer. Our qualifying requirements are typically more lenient than those of a bank, which makes it far easier to qualify even if you have bad credit. We are in the business of loaning money, and we do everything in our power to get you qualified quickly. Securing your loan with your auto is one of the easiest ways to get fast cash.
What Are Title Loans Missouri?
Title loans are generally designed to provide cash to those looking for a small loan on a temporary basis. They are not designed to be a long-term financial solution. However, they are ideal when you need cash now for an unexpected bill, making ends meet or covering medical costs.
Title loans in Missouri use your automobile to provide the security for the loan. Borrowers are responsible for turning over the title to their car during the closing of the loan.
After closing the loan, you’ll be responsible for paying the principle amount, interest charges and any fees associated with the loan.
How Can Title Loans Missouri Help Me?
People in Missouri use the cash they receive from title loans for a number of purposes. If you are looking for a loan amount of a few hundred dollars or even several thousand, a loan could help your financial situation. Borrowers are free to use their loan funds for anything they want. You could use your loan proceeds to pay for:
- Utility bills.
- Car repairs.
- Plumbing and electrical repairs in the home.
- Repairing appliances.
- Buying school books.
- Covering extra bills.
- Paying off a high interest charge card.
Do Title Loans Have Advantages?
- Loan funds in 24 hours or less.
- No driving restrictions.
- Free application.
- No spending restrictions on title loans in Missouri.
- Competitive interest rates.
I Am Not Sure I Could Qualify
If you have already been turned down for a loan from a bank or credit union, there is a good chance you are assuming you wouldn’t qualify for title loans in Missouri. However, you most likely will qualify for one of our loans at Midwest Title Lender.
We make qualifying easy because we don’t pull credit reports or credit scores. Your credit rating is never used in our qualifying process, so bad credit isn’t an issue. We know that securing your loan with your car means you’ll make every possible effort to get your payments in on time.
You may also be concerned that you don’t make enough income or have the right type of income to qualify for a loan. Granted, we may look at your income and your ability to pay back the loan. However, we also consider the value of your car, and we also allow several other sources of income besides your weekly or monthly paycheck such as unemployment income, disability, self-employment income and more.
Can I Get a Loan If the Title Isn’t In My Name?
It is important that your vehicle title is in your name before you apply for a loan. You can correct this situation by changing the name with the Department of Motor Vehicles in your city.
I Need My Car for Work
No problem, at Midwest Title Lender, we know that most people are depending on their car for work and running errands. You are free to keep your car and drive it just as you always have during the loan period.
How Do Title Loans Work?
Fill out our short application online, which only takes a minute or two to complete, and it’s free to apply.
The value of your vehicle plays an important role in how much you will be offered for a loan. To determine the value of your car, we may refer to Kelly Blue Book. In addition, we will consider the overall condition of your car, the number of miles it has and the age.
Most applicants will receive a call from one of our loan experts on the same day they apply for a loan. Your loan representative will provide you with an overview of the entire loan process, so you can feel comfortable with the process.
He or she will also provide you with a title loan estimate based on the information you submitted during the application process. If you are pleased with the estimate, you are encouraged to continue with the next step, which is qualifying for the loan. We provide an upfront loan estimate early on to give you time to consider the loan amount and decide if a title loan is right for you. Remember, at this stage in the application, you are under no obligation to continue with the loan.
Your loan expert will also speak with you about your income and an affordable payment plan to fit your budget. It is important to everyone involved in the loan process that you find a payment arrangement that works for you, so you can make timely payments.
Closing the Loan
After all the details of the loan have been worked out, you will need to turn over the title to your vehicle. We place a temporary lien on your car during the loan process, which is removed after the final payment on the loan is received. Auto titles are also returned to auto owners at this time.
To complete the closing of title loans in Missouri, borrowers are presented with a contract written according to state regulations. We highly recommend that all borrowers read through the contract carefully and ask questions to clarify anything they don’t understand.
As the lender, we are required to include the terms of the loan in the contract such as the total cost of the loan, fees and the interest rate you will be paying. We also spell out the minimum payment amounts and include a pay schedule, so you can stay on top of your payments.
What Is Required to Get a Loan?
We can appreciate how busy folks are these days, so we offer hassle free loan applications, and we only require the bare minimum of information and documents.
Before applying make sure you have:
- Your paper copy of your auto title, which has no liens.
- You may be asked for your auto registration to confirm you own the vehicle.
- We will need to confirm that you are at least 18 years of age with a Missouri state id or a driver’s license.
To apply for a title loan:
- Use our convenient online application and fill in your name, phone number and zip code.
- Supply the age, make, and body style and model of your auto along with an estimate of the mileage.
Applying is simple; qualifying is easy, so why not consider title loans in Missouri by Midwest Title Lender.