Title Loans Ohio
Applying for a loan at traditional banking institutions these days isn’t an experience that most of us wish to repeat. At many banks, you’ll go through a tedious application process requiring all sorts of documentation, and if you have the slightest blemish on your credit report, you may be turned down flat. If you have ever applied for a loan, you may also recall the anxious feelings you had while waiting for loan approval only to find there was a problem with your credit. If you are looking for a small amount of cash with a good interest rate, there are better ways to get a loan. There is no reason to go through the stress and hassles with a bank when you could get car title loans in Ohio through Midwest Title Lender. Yes, that’s right; you could easily get cash for a short-term loan in about 24 hours or less using our short online application. You’ll also get an upfront loan estimate, so you won’t be stressing over qualifying. Your auto title secures the loan, and you can use your loan funds for anything at all. It’s fast, easy and a great way to get cash now.
Requirements for Getting Title Loans Ohio
To simplify the loan process and payout loans quicker, we only have a few requirements when applying for title loans in Ohio.
- To comply with state laws, you must be at least 18 years of age to enter into a contract. We may ask you to submit a state identification card or your driver’s license to confirm your age.
- Borrowers must be the legal owners of their autos used for collateral. To confirm ownership of your car, we may ask to see the vehicle registration listing you as the owner.
- Auto owners must have a paper car title, which shows that there are no liens against the car.
No Credit Qualifying for Title Loans Ohio
You’ll be pleasantly surprised to learn that we never rely on credit scores or credit histories to approve loans. We simply don’t use them. Therefore, bad credit scores, bankruptcies or even no credit histories aren’t considered and of course, they don’t count against you like they do when applying for a bank loan.
Since auto titles are used to secure the loan, we don’t feel it is necessary to rely on credit scores. Undoubtedly, you’ll go out of your way to make timely loan payments because your car is securing the loan.
How Much Cash Could You Get?
Loan amounts vary according to circumstances, but you could qualify for as little as a few hundred or thousands of dollars. Loan payouts are determined by the value of your truck or car and your ability to make the payments. Generally, we use a service like Kelly Blue Book to come up with the base value of a car. We also look at the age, mileage and overall condition. After establishing the value of your car, we take a percentage of the value to come up with a realistic loan estimate.
Financial Stress Relief
The beauty of title loans in Ohio is that you aren’t required to state the purpose for your loan funds. You can spend your funds on anything, for example, you can use them to:
- Pay off overdue bills.
- Get your car serviced or repaired.
- Pay for college expenses.
- Cover rent, utilities or buy groceries.
Title Loan Features
- Simple application. Unlike other lenders that require endless amounts of information in their applications, our application is simple and quick.
- Confidential information. Your personal information is respected and will be kept confidential.
- No driving restrictions. Some title lenders actually keep your car during the loan period. However, Midwest Title Lender does not. We only hold the title, and you can drive to work, run errands or anything you like.
- Early payoff penalties. We will never charge you a dime if you wish to payoff title loans in Ohio early.
At Midwest Title Lender, we know everyone has a different financial situation, and that’s why we offer a number of different payment arrangements. We’ll work together to find the most affordable plan for your specific needs. Finding the best payment plan is a winning situation for us and borrowers.
Securing Your Loan
Title loans in Ohio are secured by your automobile. We attach a lien to your auto during the loan closing. This is done just in case you should default on the loan. Liens are immediately removed the moment we receive the final payment on your principal, fees and interest on the loan.
Benefits & Perks of Title Loans
- No credit checks for qualifying. We don’t penalize applicants for poor credit performance in the past.
- Fast cash in a day or less after applying for a loan.
- No prepayment penalties. We’re happy to make arrangements for early payoffs without penalties.
- Spend your loan funds for any purpose you need or want.
- We don’t restrict when you drive or where.
- Professional and friendly services automatically come with the loan process.
- We frequently offer higher loan payouts than other lenders.
- You can expect competitive interest rates on title loans in Ohio to keep payments affordable.
- We offer payment plans tailored to each individual borrower.
- Easy qualifying with a number of income source options.
Our Simple, Quick Loan Process
Applicants can receive the fastest service possible by filling out our convenient online application with:
- Your first and last name, a phone number and the zip code of your home address.
- A mileage estimate and the age, make, model and body style of your car being used as collateral.
We encourage everyone to apply regardless of your income or circumstances. It’s fast and free and only takes a moment to submit.
Working with Your Loan Representative
After applying for car title loans in Ohio, you’ll immediately receive a follow-up call from one of our loan representatives. He or she will present you with an initial title loan estimate, and your rep will fill you in on how the loan process works and what you can expect.
You’ll also have the opportunity to discuss various types of income like Social Security, disability, pension income, unemployment benefits or income from a regular job that could be used to qualify you for title loans in Ohio.
Completing the Agreement
Once the loan details are determined, you’ll be asked to read and sign a contract. Contracts benefit you and the lender to make sure all terms of the arrangements are spelled out. Lenders are required by state law to list several terms of the loan in the agreement such as the total cost of the loan and the interest rate. You should also take note of any fees, minimum payment amounts and the payment schedule.
Submitting Auto Title
After signing the agreement, you’ll be asked to turn over the paper title to your auto, which will be returned to you after you have made the last payment on the loan. At the loan closing, borrowers receive their loan funds and are encouraged to fulfill the terms of the contract by making timely payments. Remember, you keep your car keys and are free to continue driving your vehicle during the entire loan period just as you always have.
If you are struggling financially or simply need a little help to pay off some old bills, consider title loans in Ohio by Midwest Title Lender for fast, friendly service.