Title Loans North Bethesda, Maryland
Getting extra money quickly should not be a hassle, and thanks to title loans, it’s not. If you own your vehicle outright, you could apply for title loans in Maryland and walk away with the cash that you need without worrying about your credit score getting in the way.
Title loans give people access to money without the need of going through a complex loan process, compared to traditional bank loans. With a title loan, borrowers do not need to have perfect credit history, nor wait days, or sometimes weeks, to find out if they have been approved or denied for the loan. Some title loan applications are approved in a few hours, or within minutes. The term for title loans in North Bethesda is generally 30 days, but this will vary from lender-to-lender.
The maximum amount that you can borrow is typically 50% of the car value; however, this too will vary by the lender. This means you can borrow from $100 to $5500, and in some cases, up to $10,000. If you have equity in your vehicle there is still a chance that you could be approved for a title loan. You will have to give the title of your car to the lender while the loan remains open, but once closed, the car title is given back to you.
Applying for Title Loans North Bethesda
The process is simple and fast.
- Fill in your personal information on the application, such as DOB, social security number, address, phone number, references
- Give detailed employment information, including supervisor name and proof of income
- Include car details, including year, make and model, and mileage
- Wait to get approved (You will be given a free car title loan estimate and a call from a professional loan representative)
- Get your cash
- Pay the loan back in full and receive the title to your car back
Maryland law states that:
- Car title loan interest rates are capped based on the size of the loan
- All title lenders must be licensed, which protects the safety of borrowers
- The terms of a car title loan cannot be longer than one year
The Benefits of Title Loans in North Bethesda
You can get the cash that you need without giving up the keys to your car. While you may be giving up the title to your car until the money you borrowed is repaid, you still have the ability to drive your car from point A to point B. The lender simply holds your car title as collateral, but you can still use the vehicle. Once your final payment has been processed, the lender will return your car title to you.
Title loans are also less expensive than payday loans and cash advances. The interest rates offered with title loans are typically lower. This is because you are securing your loan with the car title, which provides lenders with the security that they need.
A credit check could be the deciding factor between you and the extra cash that you need for your unexpected car troubles, family vacations, overdue bills, or any other personal reason; however, this is not the case with a title loan. Lenders do not run credit checks so there is no reason to worry about being denied for a title loan due to past credit mistakes.
You are eligible for a car loan as long as you:
- Have a steady income that enables you to repay the loan
- Own your vehicle outright
- Meet age requirements for title loans in Rockville
Everything you need to get title loans in North Bethesda can be found online, or by making a simple phone call to us today. Let one of our professionals guide you through the simple application process, or point you in the direction of our nearest loan store. You could have the cash that you need fast while keeping the keys to your car!