Title Loans Hilliard
Being aware of title loans in Ohio is important for those who need some additional funds temporarily. A title loan is typically a small loan, and the borrower uses his or her vehicle as collateral on the loan.
If you need a loan and you have nowhere else to turn, title loans in the Midwest may present a viable option to you.
Title loans Hilliard application process
There is a fast and simple application process that benefits applicants at Midwest Title Lender enormously. With this process, applicants can apply online.
Our application requires basic info about the prospective borrower’s vehicle. We like to know how much the vehicle is worth. We determine this by knowing the vehicle’s make, model, and mileage.
After they submit our application to us, we get back quickly to applicants with an answer. If we offer a loan, we provide loans details on the amount and interest rate of the loan.
Then, the applicant can send us their title to get the loans funds sent to their bank account. The last step in this simple and straightforward process is for the borrower to pay off the loan and get his or her vehicle title back.
Ohio laws and title loans Hilliard
Anyone interested in title loans Hilliard really should know how Ohio state law impacts the title loan industry. Every state determines its own unique laws on title loan lending. These laws are set up to protect consumers and guarantee them that they won’t be victims of predatory lending.
In Ohio, a title loan won’t be offered for an amount of any more than $800. Another thing to note is that a title loan won’t have an interest rate of any more than 28 percent in the state. Theses laws help to make title loans in Columbus more affordable and financially safe for borrowers.
The unique benefits of title loans Hilliard
There are some special benefits offered by title loans that aren’t provided by any or most other types of loans. The following are five great examples to keep in mind:
- A borrower can get more use out of his or her car- With Midwest Title Lender, title loans allow borrowers to get the most possible use out of their vehicles. The borrower continues to drive and use his or her vehicle even while enjoying loan funds. This means that the vehicle can multitask as both loan collateral and a mode of transportation.
- A borrower doesn’t need to have a strong credit history- Credit requirements are one of the most troubling barriers to access to good loans. Many people have credit struggles in their pasts that make acquiring traditional financing difficult. Fortunately, title loans are there to provide a great solution.
- A borrower doesn’t need to be employed- Even the unemployed can be approved for a title loan because owning a vehicle is more important than having a regular paycheck.
- A prospective borrower can apply online- There are many resources available from us right on the internet. Not only do we have a convenient online application, but we also offer website visitors an estimate for title loan tool that’s great for making financial projections.
- A borrower will find the loan affordable- Traditional loans are often unaffordable because they are a lot of money and they involve a lot of interest. Title loans are small so that interest charges are low and they’re easy to pay back.