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Auto title loans in Cincinnati are popular with many, but still unfamiliar to some. If you’re not sure what an auto title loan is, now is the time to become familiar with the term. While title loans in Bridgetown North are most commonly used by consumers with imperfect credit, anyone who owns their vehicle outright can apply for this kind of loan.
The loan is secured by using your car as collateral. You’ll provide the title to your vehicle to the lender, and the lender will give you cash. When the loan is paid in full at the end of your term, you will receive your title back in your name. You’re permitted to keep the car to drive while the loan is outstanding, and you have flexible terms.
Many Cincinnati consumers prefer title loans for the simple reason they’re funded inside of a day, and they’re more affordable than other low-credit loans. If you have a financial emergency to deal with, let a title loan lender help you make the best of your situation without going into debt to make it happen.
The application process is one of the easiest in the financial industry. Click “Apply” at the top of this page, and enter the following information.
It’s as simple as agreeing to the terms and conditions listed at the bottom of the application information and submitting the application. It takes less than a minute to complete the process, and approval is instant. To see how much you can borrow, open your email. A representative of the lender has already sent you an email telling you how much you can borrow, along with his or her phone number. When you call back, you’ll discus the final details of your loan. You’ll discuss how much you can afford to pay, how long you need to pay your loan, and when you can have it paid off.
Now you take your title to the lender, sign the loan contract, and walk away with the amount you were approved for. You can have your money in as little as a few hours if you act quickly enough. Sometimes it takes a day to fund you, but usually only when you apply later in the day.
Ohio laws protect the lenders of title loans as well as the borrowers. Laws prevent lenders from charging exorbitant rates for loans. No loan can legally carry an interest rate higher than 30%. Additionally, no loan in Ohio can exceed 0.
All borrowers can have up to 6 months to repay their loans, but no more than that. It’s not permitted for lenders to allow a single loan to exceed any of these limits, but borrowers can always apply for another loan once their current loan is paid for.
Benefits are what make consumers want to apply for these loans, and they’re numerous.
Anyone can apply, which means people with negative credit histories can have loans funded just as easily as someone with great credit. If you’re unsure whether or not to apply for a title loan, understand they’re more affordable than payday loans. Payday loans charge much higher rates, making them too expensive for many borrowers. These loans are easy to apply for, affordable, and quick.