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A secured loan, like Blountsville title loans, is a great option to keep interest rates low, especially for people who may not have the best credit score. An unsecured loan relies on a person's credit history to determine their interest rate, so low credit will often equal a high rate. Since auto title loans are secured by your vehicle, the lender incurs less risk and can then offer lower rates to these applicants (without a credit check).
Even though secured loans usually have lower interest rates, that still doesn't guarantee a competitive rate for your loan. Titlelo works with multiple lenders to ensure you get the very best rates available and loan amounts are based on the value of your vehicle, rather than your credit history. Within seconds, you can be pre-approved for a title loan by entering basic information about yourself and your car.
Online loan processing has revolutionized the way consumers can manage their expenses. Rather than waiting in line at a bank and then days (if not weeks) for processing, with a title loan, you can receive pre-approval instantly and have cash in hand the same day.
Even with a broker, you could still face wait times of several days before receiving your loan disbursement. Fortunately, Titlelo works with numerous companies that provide far more options, lenders, and expertise than other brokers. Typically, time is critical for all title loan recipients, but if your situation is especially urgent, Titlelo will select a lender that provides immediate processing.
Car title loans are short-term loans that are typically paid off within one month, though this does not have to be the case. Finding flexibility for this among lenders can be a challenge, and many also charge fees for early payments. Applying for a loan through Titlelo enables you to locate the lenders that offer the flexibility you need quickly.
Titlelo makes sure you work with a lender that works with you. We work mostly with lenders that do not charge prepayment fees, placing more control in your hands. Payments for title loans can be extended beyond one month, and we can find a lender who will provide this option at a competitive rate.
Unlike most installment loans and many short-term loans, you do not have to be actively employed to receive a title loan. Lenders will request documentation proving a source of income, but this can include proof of any of the following:
Proof of income will not be necessary to pre-qualify you for a title loan Blountsville, Alabama. If you are not sure whether you have the proper documentation, you can still receive instant pre-approval online or over the phone with just your contact and vehicle information. We will be able to answer any and all questions you have about the loan process, documentation, or fund disbursement.
Receiving a title loan from Titlelo is simple and fast, but we want to go at your pace. If you have any questions about short-term loans, the loan process, lender requirements, or simply want to share your experience, please call us.
We provide a personalized service to match consumers with the right lender based on their situation and preferences. Rather than attempting to fit the requirements of a lender, we find a lender that fits your needs. Before you apply for a loan directly, allow us to compare lenders for you and narrow your list down to a select few. Not only will you receive the best rates, but you will have an advocate to ensure you receive a loan from a trustworthy company.
Applying for car title loans online shouldn't be difficult. Complete our simple online application and enter basic information about yourself and your vehicle. Once you're pre-approved, one of our friendly experts will contact you.
Titlelo will assess your needs and match you with the best lender in your area. Once you've accepted the terms and conditions of your lender, we'll help you gather everything you need to make the process simple and swift.
Visit your local title lender and bring your title, ID, and any other required documents. Review and sign your loan documents and get the cash you need instantly. Drive away with your car and get back to what matters in your life.
The Pawn Shop Act in Alabama covers the regulations regarding title loans. Instead of the usual interest rates charged for title loans in other states, a pawnshop charge is required by title lenders in Blountsville, AL. This amount should cover the expenses, losses, cost, and services rendered by the lender. However, it cannot exceed 25% of the principal amount charged each month.
Should the amount collected exceed the fee stated above, the transaction will then be deemed as void.
All borrowers in Alabama must be of legal age. The borrower also needs to present a valid identification card before the transaction begins. Lenders must have an up-to-date license to provide loan services in the state.
During the transaction, the loan ticket must include the name, address, and date of birth of the borrower. The ticket must also notate the exact date of the pawn or purchase transaction, the ID and ID number presented by the borrower, and the physical description (height, sex, race, etc.) of the borrower. The ticket should also reflect the expiration date of the transaction, the amount of the total cash advanced, the monthly rate and charges, and the amount due.
Lenders in Blountsville, Alabama have the right to forfeit pledged vehicles that are not redeemed after the 30-day grace period. However, the borrower may also request a rollover. In this case, the payment for the amount borrowed as well as the interest will be rolled over to the next month. As for the current month, the borrower may pay only for the interest.
Note, however, that this would mean higher payments when accumulated. For a lot of borrowers, rolling payments over to the next month make it more difficult to catch up, leading to repossession.
Much like any other loan transaction, pawn loans in Alabama have an expiration period. If the borrower fails to redeem the pledged vehicle on or before the expiry date on the ticket, the lender will still be obligated to hold onto it for another 30 days following the maturity date. The vehicle may be repurchased or redeemed by the borrower within that grace period. However, on top of the payment first agreed for the pledged car, extra charges will be added.
All unredeemed vehicles must be within the pawn shop's premises for at least 21 business days before they are deemed eligible for resale.