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A title loan is a great solution for fast cash, but it is not the only option. Payday loans are often considered alongside title loans but are only offered in small amounts (usually up to $500) and require either a post-dated check or pre-authorization for a debit from your bank account. A cash advance is another quick option, but typically carries a high-interest rate and other fees.
Unlike title loans (which require your vehicle as collateral), bank loans can be secured or unsecured, meaning they may not require collateral. In the case of an unsecured loan, your credit history will be the primary factor in your approval and interest rate. Since a title loan is a secured loan, your credit history will not be the primary focus during the approval process and can be one of the best options for those with bad credit or past bankruptcies.
Are you looking for a reputable lender near you? Titlelo can narrow down your search in seconds. Tell us a little about yourself, your car, and what you need and we'll take it from there. No endless googling and no questions about quality: we do all the research for you, and we only work with the best title lenders in Bexley!
Selecting short-term financing of any kind can be overwhelming, and the amount of paperwork can become frustrating. To compare rates, you would need to provide your personal information to each lender you would like to review. In contrast, Titlelo only asks what we need to know, and then we give that information to the lenders that will work best for you. You only have to provide your information once, and Titlelo will take care of the rest.
Your data is safe with us! Titlelo uses 128-bit encryption to protect all information that is submitted through our website. Check to make sure there is a padlock beside our web address in your URL bar to verify the site's security.
Even with these precautions, we understand that your data is important and never ask you to share more than what we need to get your loan approved. Since your vehicle will be the collateral for the loan, there is no need to submit private information for a credit check. Your credit remains untouched and sensitive information like your social security number is never even provided.
The privacy and security of our customers and their data is our top priority. If you have any other questions, you may review our privacy policy or contact us!
When consumers compare loans, interest rates are usually front and center. Choosing a loan with the best rate is so complicated that there are entire companies (like Titlelo) designed to solve this problem alone. On top of the interest, processing and penalty fees vary widely from lender to lender, and these charges can really add up. Titlelo strives to work with companies that have the most reasonable fees and highlights lenders that do not charge prepayment fees.
Not every lender offers flexible payment options or schedules, but Titlelo works to narrow down your search quickly. Rather than comparing each lender you can find in a web search, fill out a quick application (online or over the phone) and get instant pre-approval. Titlelo works mostly with lenders who do not charge prepayment fees, but if this is an important feature for you, let us know, and we will be sure to find you a loan without these additional charges.
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.
In Ohio, the Short Term Loan Act of the state explicitly bans lenders from accepting a vehicle title as collateral for a short-term loan. However, title lenders work under the state’s Credit Service Organization Act. This particular act requires registration and connection for establishments that offer credit repair, debt counseling, and related services.
Under the CSO Act, the lender can issue a loan either in the form of a check or a money order. The lender charges a cashing fee – generally 3 to 6% for each transaction. As such, a $200 loan can reach up to 600% APR.
A lender can also get a CSO license from the state and then act as a broker to aid borrowers to get a title loan from a third party. For the services rendered, the lender can charge anywhere between $25 and $100. The third-party lender also charges fees and interest on the loan. The latter is typically 25% of the loan principal. The minimum loan amount is $1500, and the interest rate is generally 300% or higher.
In Bexley, borrowers must be at least 18 years of age and must be the outright owner of the vehicle.
Depending on the lender and the third-party agency that grants the title loan, an extension is possible. There are currently no laws or guidelines that control title loan rollovers in Bexley, OH.
The borrower typically signs a security agreement for the circumvented title loan process in Ohio. The signed agreement gives the lender the right to repossess the vehicle if the borrower fails to repay the debt on its maturity date. Due to the compound nature of the title laws in Ohio, there are a variety of legal defenses to repossessions for both the lender and the borrower.
But when the loaned vehicle is repossessed, the lender must sell the car. The lender also has to give notice to the borrower within five business days before the repossession happens. The borrower is required to pay different charges which include the past due installments, the late fees, the interest rate and other costs the lender incurred.
If the vehicle is being auctioned, the lender must send another notice to the borrower, at least ten days before the event takes place. The notice must state the time and location of the auction as well as the minimum selling price of the vehicle. Proceeds from the sale will be used to pay off the loan.