Title Loans Racine
After planning and budgeting for bills, you can feel good about your financial obligations, especially if you have a steady income or job. However, if you should take a cut in pay, lose your job or experience a few unplanned emergencies, you could find yourself in a bit of a fix. Since the economy is still somewhat unstable, these are realistic situations that could take you by surprise. Of course, the first thing you’ll want to do if you’ve experienced a cut in pay is to re-evaluate your priorities, write up a budget and make cuts in spending. Even then, you may need a loan to get by in between paychecks or cover some of your more expensive bills like property taxes or auto insurance. Fortunately, there is help. If you need a small amount of cash or even a few thousand, you could check into title loans in Racine from Midwest Title Lender. We know what it is like to struggle with bills and feel like you can’t get caught up. That’s why we make it easy to qualify for title loans. If you own your own car and it is free of liens, you could easily qualify for quick cash now.
Loan Amounts for Title Loans Racine
Loan payouts are determined from a number of different factors. To start with, we will focus on the value of your automobile you are submitting for collateral. According to state regulations in Wisconsin, principal loan amounts cannot be equal to more than 50 percent of the value of your car. There is also a maximum limit of $25,000 per loan.
After receiving your vehicle information from your application, we may refer to a pricing guideline like Kelly Blue Book to get a base value of your car. Next we consider the mileage, age and the condition. Loan amounts may come in slightly lower if the vehicle has ever been in an accident or is in very poor shape. On the other hand, newer vehicles, those with a high amount of equity and fewer miles may result in higher loan payouts.
Loan amounts could range from as low as a few hundred to the maximum amount allowed by state regulations. You should also note that vehicles must be operational and in running condition. After determining the vehicle’s value, we take into consideration your income and your ability to repay the loan amount to come up with your car title loan estimate.
What You Need to Know About Qualifying for Title Loans Racine
- Applicants must prove they meet the minimum age requirement of 18 by supplying a state id card or a driver’s license.
- You must be the owner of the car and it must be paid for in full. Applicants are required to turn over a clear auto title with no liens listed on the document.
- During the free loan consultation, you’ll discuss various types of qualifying incomes to be used for making loan payments. Your representative will also present several payment options to help you find the most convenient arrangements to meet your financial situation.
Learning About the Title Loan Process
- Applicants must apply for loans using our simple online application form. You’ll need to provide your name, zip code and phone number. In addition, we also need the make, model, body style, car’s age and an estimate of the vehicle’s mileage.
- Your loan representative will discuss the entire loan process with you over the phone.
- You’ll be given a contract to read and sign.
- During the closing of the loan, you’ll be expected to turn over the paper title of your automobile to be used as collateral for the loan. Titles are returned promptly after the final payment of the loan has been made.
You are expected to make timely payments throughout the loan term as agreed upon in the contract.
Are There Any Perks to Title Loans?
- Loan funds. You are free to spend your loan funds for any purpose you like such as catching up on bills, making repairs around the house or using it to buy groceries or pay your utility bills.
- Quick cash. Typically, applicants are qualified, and they receive their loan funds on the same day they apply.
- Affordable payments. We work to find the very best interest rates, which helps to make payments more affordable.
- Convenient online application. You won’t be spending your time searching for paperwork, driving to an office and filling out a long application. We offer easy applications with no hassles.
- No credit checks. We don’t turn down applicants for poor credit ratings, so go ahead and apply today.
- Short-term commitment. You can appreciate fast cash and affordable payments on a short-term loan.
- No early payoff penalties. We never charge a penalty for paying off title loans in Wisconsin early.
How Fast Can I Qualify for a Loan?
We know how stressful it can be to have unpaid bills piling up, so we’ll go out of our way to get you qualified as fast as possible. Typically, qualifying is a quick and easy process. We are proud of the fact that we can usually get all applicants qualified and paid out in just 24 hours or less.
How Much Does It Cost to Apply?
We don’t charge a single penny to apply for title loans in Racine. Applying is free, and we encourage everyone to apply for a small loan if you need cash now.
Free Loan Estimates and Loan Consultations with Every Application
Immediately following the submission of your application, you’ll receive your free loan estimate. Your estimate will give you an idea of how much cash you could qualify for and whether you wish to proceed with the application process. If the estimate would be helpful for your situation, we encourage you to seek additional information from your loan representative. Loan consultations are conducted over the phone, and you’ll learn a lot about our loan process and how you can benefit from title loans in Racine.
Loan representatives work closely with each applicant to learn about your needs and how we can find an affordable payment plan tailored just for you. Your loan rep will discuss your sources of income and may present a number of income sources that can be used to qualify you for a loan. You should also understand that any personal information discussed during the loan process is kept strictly confidential.
Will I Lose the Use of My Car?
Although some auto title loan lenders do take possession of vehicles used for collateral during the loan period, we don’t’. You have full use of your car just like you always have. Just remember to make the minimum payment on time according to your payment schedule, and you shouldn’t have any problems.
What Should I Know About Title Loan Contracts?
Contracts are a requirement of the loan process. All approved borrowers must read and sign their contract. By signing a contract you are agreeing to the terms of the loan and will pay back the loan principle, interest and any fees.
If you find you are unable to make your payments, you should contact your loan representative immediately. He or she may be able to find a better interest rate to reduce your payments or roll the balance into a new loan. You should also keep in mind that your car could be at risk if you fail to make payments.
To make sure you fully understand your obligations, lenders are required to provide all the important aspects of the terms of the loan in your contract. State regulations require the interest rate, payment schedules, minimum payment amounts, fees and the total cost of the loan to be listed in the contract.
If you are in between jobs or just need some cash to get your finances back in order, consider title loans in Racine by Midwest Title Lender.