Title Loans Oak Creek
If getting a bank loan was an option, you would take advantage of the opportunity. Unfortunately, you fall in the bad credit category, which means a bank loan is out. Fortunately, Midwest Title Lender is in business just to meet your monetary needs. Title loans in Oak Creek are the perfect type of funding for you.
Title loans in the Midwest are awarded based on car ownership. When a car owner puts up the title to their vehicle, they get loan money, and when they pay the money back, their title is returned. Midwest Title Lender has a high approval rate offering title loans in Milwaukee and Oak Creek because they are based on collateral and not a credit check.
Requirements for Title Loans Oak Creek
Applicants for title loans must be at least 18. Their vehicle be paid off and have their name on the registration. Candidates for title loans in Oak Creek must have an income from either a job or other sources, such as retirement or disability benefits.
Since you already know the make, model and year your car was made, you are ready to complete the online application for title loans Oak Creek. Just check the car’s mileage, and add that to the application, as well as your name, address and phone number. When you click submit, you will get a car title loan estimate and a phone call from a Midwest Title Lender associate who will help you complete the loan transaction. Some of the topics you will go over include how you will repay the loan, when your payments are expected and your vehicle’s condition. The condition is what helps establish the car’s value and determines the final loan amount. After completing these things, you are ready to trade your title for the loan money.
Wisconsin Legal Information
- Title lenders in Wisconsin must be licensed by the state Division of Banking.
- Loans can be up to 50 percent of the value of the borrower’s vehicle. However, no loan may exceed $25,000.
- There is no set interest rate per loan.
- Term limits are up to six months long.
- Lenders must give borrowers 20 days notice before repossessing their vehicle.
- Before signing a loan agreement, borrowers must be given a written statement that outlines exactly what they will owe the lender. This includes the original loan amount, interest charges and all other fees.
Easy approvals have to be the best thing about title loans, especially for people who have trouble getting financed with mainstream lenders. There is no credit check blocking people with bad credit or a bankruptcy, which means a very high approval rate for title loan applications. The next best thing about a title loan is the speed it happens. When the need for money is an emergency, you need it now, now days or weeks later when the emergency has gotten worse or past the point of fixing.
If you’re a private person, you don’t want people to know your business, especially when it relates to money. Even if you’re not that private, money matters are sometimes best kept to yourself. Title loans are great for privacy. You apply online where no one can see or know what you’re doing. Midwest Title Lender does not violate your privacy by telling anyone about your loan.
Keeping with the privacy theme, when you get a title loan, you don’t have to ask for money from people you know. In addition to sidestepping an awkward conversation where you have to explain that you are broke and need money, you don’t have the pressure of them asking when you can pay back the loan.