Titlelo Opens Its Doors

American family with a dog
Credit: Kristy Davies

Title loans help millions of American adults make ends meet every year by providing quick access to cash without a credit check and without selling or pawning their property. Depending on the state, title loans can be somewhat unregulated, which presents the potential for high interest rates and lenders who take advantage of the financial stress and urgency borrowers feel. Titlelo is a loan broker that matches borrowers with reputable lenders in their state that offer fair terms and competitive rates.

Benefits of Title Loans

Title loans offer solutions to consumers who need fast cash but prefer a loan without a credit check or other invasive applications. Depending on the lender, the requirements can be extremely flexible and very little documentation is necessary to process the loan. Pre-approval takes just seconds, and fund disbursement can happen immediately upon approval (with direct deposit).

Though the lender will retain possession of the vehicle title while the loan is active, the borrower keeps their car throughout the lifetime of the loan. The funds can be used for personal or business reasons without restriction and aid consumers in addressing both regular and unexpected expenses while maintaining normalcy in their lives. Without relinquishing their vehicle, borrowers can continue to work, attend school and medical appointments, and manage their everyday responsibilities.

Challenges for Title Loan Borrowers

According to a 2015 PEW Research Study, most title loan borrowers rely on lenders for their information about loans. Because of the urgency associated with needing a title loan, most borrowers do not complete independent research on lenders or compare their rates or terms. Combined with the relatively lax regulations on title loans, this can lead to inflated interest rates, hidden fees, and even the inability for the borrower to repay the loan.

Borrowers who have the time to conduct research to compare lenders encounter issues with redundancy in paperwork and understanding fees and terms. Each state has unique laws and regulations for short-term loans and vehicle title loans specifically. Some states offer only lump-sum repayment plans, some offer only installment plans, and many offer both options. Choosing a reputable lender that provides the flexibility a borrower needs at competitive rates is a major challenge for consumers.

How Titlelo Can Help

Personalized analysis on a case-by-case basis is the foundation of Titlelo’s business. Our mission is to enhance the transparency and affordability of title loans by tailoring each experience to the client’s needs and offering direct information about lenders, terms, and fees. To account for the urgency associated with title loans, we have designed a streamlined application process that ensures quick loan approval and fund disbursement.

Instant pre-approval is available online and over the phone (855-341-4500). Only basic information about the borrower and vehicle are required, and this application will be the only one necessary to compare lenders. Titlelo experts are available online and over the phone to answer questions about title loans, lender options, state regulations, and affordability. They will then match each applicant with a lender or lenders that provide the flexibility they need for requirements like employment, documentation, and payment schedules.

Titlelo works with more than 50 lenders nationwide that have been pre-screened for industry reputation and fair practices. Our financial experts can compare lenders’ rates, and explain their terms and fees, so borrowers know exactly what they will agree to in their loan before they sign.

Title loans are great solutions for short-term loans that do not require credit checks and can be approved quickly. Completing research on fees, terms, and regulations is important to safeguard consumers from unscrupulous lenders and inappropriate payment plans. Working with an intermediary, like Titlelo, will expedite this research and ensure the quality of both the lender and the loan.