There are times in life where we face a financial struggle and need a way to find the extra money. A title loan may be the best option to bridge that financial gap. A title loan is a secured loan where you can borrow the cash you need using your car title as collateral. To get a title loan, you must surrender the hard copy of your car title in exchange for the amount of money you need. The lender will place a temporary lien on your car title, and will be removed once the loan is paid. At that point, your title is returned.
There are other types of loans out there, but many of these loans can take time to be approved. A title loan is simple to apply for, either in-store or online, and it can be processed in as little as 15 minutes. Title loans in Eldersburg, Maryland are simple, quick and may be the answer to your financial needs.
Getting Title Loans Eldersburg
You can get title loans in Maryland quickly and easily, simply by filling out the online application or visiting one of our locations. You will need to provide the following information:
- Proof of age – you must be at least 18 years or older
- A valid government issued I.D. or driver’s license
- Proof of income via a pay-stub
- Proof of residency via a gas or water bill
- A clean, lien-free car title in your name
- A minimum of two references
- Proof of car insurance
- Car registration information, proving that the car is paid off
Once you have provided the following information, you will need to offer further information about the vehicle you will use to get the title loan. Your vehicle will undergo a physical inspection by a representative, and if you filled out your application online, you will need to bring your car to your nearest location in the Baltimore area. Our representative will call you at your earliest convenience to schedule a time to bring your car for inspection, and you will need to provide the following information about your vehicle:
- A spare set of keys
Things To Be Aware Of
Title loans in Baltimore and the surrounding suburbs fall under the current title loan laws of the state of Maryland. Once you receive your funds for a title loan, you have 30 days before you make your first payment. Failure to make payments and going into default will make the lender liable to repossess your vehicle and sell it to cover the debt on your loan. Being late on your payments will incur additional fees to your original payment amounts. If you are struggling to make payments on time, call your representative, and they will be able to work with you to make your payments.
The Benefits Of A Title Loan
There are many advantages to considering a title loan for your financial needs. The best benefit of title loans is that they are quick and easy to get, especially when you need money fast. Most title loans are processed in a day or two, and your funds are usually available immediately, either in-store or directly deposited into your bank account. With a title loan, you can also borrow as little as $100, so you can get a loan amount of only what you need. Most other loans will not let you borrow anything under $1,000. Another great benefit of title loans is that anyone with a car can apply. There are also no credit checks or background checks required to get a title loan. A title loan may be the best option if you need some extra cash quickly and easily.