Title Loans Kansas City
If you live in the Kansas City area and are in need of alternative loan options, you should consider title loans in MO. Title loans in the Midwest are gaining more and more popularity due to its simplicity – particularly title loans Kansas City. However, there are still many individuals who are somewhat confused about how title loans actually work. To elaborate briefly, basically, the United States government allows individual states to govern and authorize the issuance of title loans in each of their states.
Also referred to as vehicle loans or auto loans, title loans are basically loans that allow customers to use their vehicles as collateral in order to secure the loan. However, borrowers must first own the vehicle, which must also be free of any liens to qualify for an auto title loan. Hence, it’s the actual vehicle itself that secures the title loan.
Obtaining auto title loans Kansas City is a very simplistic and easy way for auto owners to get their hands on short-term needed cash. These loans are both helpful during stressful situations and are also the answer to short-term emergency cash needs. Just contact a friendly and professional staff member at Midwest Title Lender for assistance.
Once the borrower submits a hard copy of the vehicle title to the lender, the lender will then provide the loan request to the borrower. And the good news is after the loan is paid in full, the borrower’s title is returned back to them by Midwest Title Lender.
How to Apply for a Car Title Loan
Need to apply for auto title loans Kansas City? Then you’ll be happy to know that the application process is pretty simple. If you find that you are in a bind and need to apply for one of our title loans right away, you’ll get a response relatively quickly. Just follow our initial online application process. It only requires very basic vehicle and personal information which includes the following as provided below:
- Vehicle Information
- The year of your vehicle
- The make of your vehicle
- Your vehicle’s model
- The style of your vehicle
- Your vehicle’s estimated mileage
- Personal / Contact Information
- Your first and last name
- Your phone number
- Your email address
- Your zip code
Upon receipt of this information, one of our friendly and professional staff members will review the information and contact you with a title loan quote as soon as possible. Sometimes the funds can be issued and made available within the same business day. Our procedures are very time sensitive, therefore we have taken the time to make sure that applying for one of our loans is fast and easy. In fact, someone from our staff will follow up with you right away to assist you with receiving the relief that you need from your emergency cash situation. Just provide the information requested and we’ll initiate your loan requests.
Title loans Kansas City is known for accuracy and speed, yet we always perform fast services without losing quality. We also perform services within the confines of the regulations and guidelines as set forth by the State of Missouri and the federal government as per the information provided in more detail below.
State and Federal Title Loan Legal Regulations
Many residents within the state of Missouri have questions and concerns about how vehicle title loans work. They also wonder about the various legal regulations that may surround the procedures involved with obtaining title loans Kansas City. As per the Consumer Federation of America, every state is responsible for providing authorization as to whether or not vehicle title loans can be practiced in their state. According to the authority granted to them, the state of Missouri has adopted this practice within their state.
The Consumer Federation of America has provided some of the most important information about which legal regulations are permitted within the state of Missouri. They consist of the following as detailed below:
- Citation – Title Loans Law (Mo. Rev. Stat. §367.500- 367.533)
- Maximum Loan Amount – $5,000
- Cost Limits – There is no cap on the cost limits in the state of Missouri.
- NSF/Fees – NSF; no additional fees
- Term Limits – 30 days, 6 renewals, may go up to 210 days if conditions met
- Cost $500 – There is no cap.
- Sale / Lease Back – N/A, None
- Repo Terms – Interest 90 days after
- Right to Cure – 15-day notice, offer repayment plan
- Surplus/Deficiency – No deficiency balance
- Prohibited Practices – No criminal threats, no hold harmless, not by terminal, not looking at customer’s ability to repay
- Title Required – Title or add lender as lienholder to title
Not only are Midwest Title Lenders aware of the various state laws that are allowed to be practiced concerning vehicle title loans, but we also actively practice them. Our staff is fully aware of the current laws and we also have a system in place to monitor changes to the current laws that might have an effect on the way we do business. So you can feel confident that only the most up to date laws are being adhered to and practiced at Midwest Title lenders. To that end, we only provide services that are consistent with our core values – in addition to any required state or federal laws. Each of our procedures are always in compliance at all times. So what that means for you is that you can rest assured that whenever we perform title loans Kansas City, all aspects of our services are comparable to the latest Missouri state laws. That’s because we always provide services with you in mind.
The Benefits of Vehicle Title Loans Kansas City
Some of the benefits associated with obtaining a title loan Kansas City is provided in more detail below.
- Low Rates
The rate to obtain an auto title loan is typically much lower than the rate to obtain normal payday advance loans. Lenders are a lot more comfortable giving auto title loans because the vehicle itself provides a guarantee to secure the loan as opposed to Payday Loans, where it’s a little bit more of a gamble and more of a risk when issuing those types of loans. As a result, the interest rates on Payday loans are a lot higher.
- You can continue to drive your car
When you have a vehicle auto loan, there’s no need to stop driving your car. As long as you are in good standing and the loan is not due yet, you may continue to drive your vehicle, even though it’s being used as collateral.
- No need to have your credit checked
It’s no problem whatsoever if you happen to have bad credit. That’s because obtaining title loans Kansas City does not require credit.
- You Qualify With Your Vehicle
It doesn’t matter what type of vehicle you may have to qualify for an auto title loan in Missouri. As long as it’s free of any liens, it qualifies you. It could be a car, truck, SUV, RV or motorcycle it doesn’t matter.
- Various Repayment Options
You have the opportunity to select the best repayment option available based on the optional loan repayment schedule.
Since you never know when you may be faced with emergency cash shortage problems, you’ll be happy to know that our company can provide you with needed peace of mind by getting you the cash you need.