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Getting cash for your title in New Market is a great way to keep "business as usual" while working to support all of your expenses. Even though your car is used as collateral for your loan, you never relinquish possession of it. This is not the case with auto pawn loans, which do require possession of your vehicle while using it as collateral on your loan.
Your mode of transportation is crucial to both your quality of life and financial success. With a title loan, you can continue driving to work and school, pick up and drop off kids, and run errands while managing your loan payments.
Depending on your desired loan amount and preferred payment schedule, you could have the loan paid off within one month. Some may need a little longer, and in those cases, it is even more necessary to retain access to a vehicle while earning income to manage expenses. Whether you wish to pay the loan off quickly or in installments, Titlelo can find a lender with a payment option that’s right for you.
If your car is not yet paid off, but you still would like to take out a title loan, Titlelo can work with you to find a solution. A title loan on a vehicle with an already-active loan would be referred to as a second-lien on the vehicle. A lien is the legal right of possession over property until another party pays off a debt.
Though Titlelo does not recommend this kind of loan, as it is considered a high-risk loan, we want to empower you to make the best decision for your situation. We can discuss all of your options and provide you with our professional recommendations, but at the end of the day, we will connect you with the lender you choose. Titlelo has worked hard to build relationships with lenders that offer these special loans while still maintaining an excellent reputation.
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.
We work for you, not a lender. Titlelo offers customized solutions for people who need a loan fast. Rather than telling you what options you have, we listen to your needs and provide recommendations based on the lenders that offer what you want. You never have to worry about finding the best rate: we do all the searching for you and narrow your options down to only the most competitive lenders. Titlelo will strive to find a lender that matches your requirements.
Since we work with so many different lenders, we can offer solutions to people in every financial situation. If you have applied for a title loan in New Market the past and have been denied, don't be discouraged. There are plenty of lenders that Titlelo can work with to approve your loan.
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.
Virginia title loan laws state that borrowers can secure loans worth up to 50% of the fair market value of the vehicle being used as collateral. However, lenders also consider the other costs that come with the loan, so they would usually lend the borrower only around 30%-40% of the car’s fair market value.
If the loan amounts to $700 or less, the maximum interest rate allowed is 22% per month. Any loans worth $701 to $1400 would incur a monthly interest rate of 18%. If the loan exceeds $1400, the maximum monthly interest rate is 15%.
To secure a title loan in New Market, VA, the borrower should submit a government-issued ID proving that the borrower is at least 18 years of age. The borrower should also present the car for inspection and should surrender the car title during the repayment period.
Title loan laws in Virginia do not allow lenders to give extensions. However, the law also states that monthly payments should be equal to make it easier for the borrower to make the payments on time.
If the borrower fails to pay the required amount on time, Virginia laws allow lenders in New Market to repossess the vehicle used as collateral. However, the law also requires lenders to send the borrower a written notice 10 days before the car is repossessed. This allows the borrower to catch up on their payment to avoid repossession of the vehicle.
Once the 10-day period is over, the lender may decide to sell the vehicle. But before they do so, the law required the lender to send another notice to the borrower containing the details of the sale. The notice should also include a breakdown of what the borrower owes – the principal amount, the interest, and any other reasonable fees. The lender is not allowed to charge for storage.
Should the borrower be able to pay the total balance before the sale, the vehicle will be returned to the borrower. If the borrower still fails to pay the balance, the lender may sell the car and return any surplus amount to the borrower. If the car is sold for an amount less than the total money owed, the lender cannot ask the borrower to pay the balance.