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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.
Getting cash for your title in Crivitz 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.
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 Crivitz, Wisconsin. 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.
In Wisconsin, the maximum loan amount permitted by title loan laws is $25,000 or up to 50% of the fair market value of the vehicle to be used as collateral. Of course, lenders also have their own limits, and it is rare for them to give borrowers $25,000 for their vehicles. For example, some only allow loans that are worth 30% of the car.
Title loan laws in Wisconsin do not place a cap on the interest rates applied. On an average, lenders in Wisconsin charge around 25% interest.
To secure a title loan in Crivitz, the only requirements would be a government-issued ID that proves the borrower is at least 18 years of age, as well as the car title.
Wisconsin law allows borrowers to roll over the existing loan into a new term in case the borrower is unable to pay by the end of the original term. For the rollover to happen, the borrower must pay the current interest. This means incurring new interest charges on top of the principal on the new term.
Note that lenders also charge a late fee should the borrower fail to pay on time. The late fee amount if usually 2.75% of the principal.
Failing to pay for a title loan in Crivitz, WI would mean that the lender is allowed to repossess the vehicle. However, the lender is required to send the borrower a written notice 20 days before the car is repossessed. This time frame allows the borrower to catch up on the payments missed.
If the borrower is still unable to pay the required amount beyond the 20 days, the lender has the option to sell the car. If the amount for which the vehicle was sold is insufficient to cover the loan, interest, and fees, the lender cannot go after the borrower unless the following scenarios occurred: the vehicle was intentionally damaged or destroyed so that the car’s value is lessened, the vehicle is intentionally hidden from the lender, or the car had a lien while it was being used as a collateral for the loan
If the vehicle was sold for an amount higher than what is owed, the lender should return the surplus amount to the borrower.