Title Loans Shorewood
You can’t plan for unexpected things, but you can put aside money in case something comes up. Unfortunately, some folks don’t have an emergency fund, and those who do have a fund may not have enough money available. That’s when alternative lending option like title loans in Shorewood comes in handy.
When you have funding options, you choose the one that works best for your financial needs. If that need’s to get money fast, then the choice is clearly title loans. Just use your vehicle as collateral for the loan, and get the money, usually the same day you apply. Applicants must use a vehicle that is paid off, has no liens and has their name on the registration. They must also be at least 18 and have a job or be able to use another source of income to pay the loan back.
Applications for Title Loans Shorewood
With just a few clicks to indicate the make, model and year of your car and then a few keystrokes to type in the car’s mileage, your name and your contact details, you have completed the application for title loans in Shorewood. A loan estimate is given after you submit the application, and a Midwest Title Lender agent calls you to talk about the loan. Before you sign a loan agreement, we need to find out how you will pay back the loan, set up payment dates and talk about your vehicle. The condition of the vehicle should be good and should match the loan offer, but sometimes issues such as vehicle damages or upgrades result in the loan offer going up or down a bit. With every detail worked out, you can turn in you title and receive the loan.
Wisconsin Legal Information
The Wisconsin Division of Banking licenses title lenders and regulates the title lending industry. Under state law, loans can be up to $25,000, but borrowers may not get that much because they are only allowed to borrow half the value of their vehicle. If a loan goes into default, a lender must give the client 20 days notice before repossessing the car. If the car is sold, the lender may only keep enough money from the sale to recover the remaining loan balance, all fees associated with the loan and any money spent on the repossession and sale of the vehicle. Any money left after the lender’s costs are paid must be turned over to the lender.
Now means now in the title lending world, and that is the best thing about title loans Midwest. Yes, you get the money, which is why you applied, but you get the money immediately. When you apply at a bank or try to get money in another way, there is usually a waiting period. With banks, you have to go through the loan process, and that can take several weeks. That money will be great when you finally get it, but that’s future money. You need right now money, which is what you get with title loans in Milwaukee and Shorewood.
Short payback periods work in your favor because you can wrap up your debt, and get back to your regular routine. But, longer payback works just as well. If you find that the schedule you made in the original loan doesn’t work as well as you hoped, talk to us about renewing the loan, extending terms or lowering payments. There are options to make the loan payback work for everyone.
You vehicle is one of your most important possessions because it is essential to daily life. You use it to get where you need to be and where you want to go. That’s why Midwest Title Lender won’t take the car when you get the loan. We can get by with just the title because you need your car more than us.