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The most wonderful time of the year can become the most disastrous one for some people who overspend. Their attempt to buy exactly what everyone wants ends up putting them in a hole financially. When a new year arrives, instead of having hope for a fresh start, they worry about how to pay those billed they racked up in December. It’s actually a pretty common problem, but there is a simple solution. Use a title loan to get enough extra cash to pull yourself out of that money pit. Title loans in Florence are convenient and usually approved within hours.
Title loans in Florence are personal loans given by non-traditional lenders. Borrowers agree to pledge their vehicle as security for the loan. They give the title to the lender as a guarantee, and the lender gives the borrower cash. By using collateral, borrowers avoid a credit check. It’s a win-win situation. Just like traditional loans, the lender makes money on interest on the loan. For the borrower, they get the cash they need. Without a credit check, everyone can qualify, which is especially helpful to people with bad credit or a bankruptcy on their record.
Applicants should be at least 18 years old. Paying back the loan requires money, so an income is necessary. While a job is the primary source of funds for most people, title lenders accept income from retirement or pension benefits, alimony, disability or other valid sources. Vehicles used to secure title loans will have the applicant’s name on registration documents as the owner. Only lien-free vehicles are accepted.
No other type of loan offers the ease and convenience of applying for a title loan. Wherever you have access to a computer is where you can apply, which means there is no waiting your turn to apply in person. You’re always at the head of the line with an online application. It’s also fast. Just indicate your vehicle type and its mileage, then add your name and contact details.
Once you submit the application, we give a loan estimate and one of our representatives calls you to discuss specifics. After working out the particulars of your loan, stop by our offices to let us do a quick vehicle inspection. Then, just sign your paperwork, turn in your vehicle’s title, and collect your cash. Everything is streamlined to get your money in your hands as fast as possible, which is usually the same day you apply for the loan.
Legal statutes in Ohio limit interest rates to a 30 percent maximum. Lenders planning to repossess a vehicle must give the owner of the vehicle advance notice of their intent. Lenders planning to sell a vehicle they repossessed in order to recoup the delinquent loan and fee balance must give the borrower 10 days notice before the sale. Lenders must also give borrowers an accurate account of what money is outstanding. Borrowers can get the vehicle back by paying off the money they owe.
Getting the money and getting it fast are the two best benefits of title loans Cincinnati and Florence. Without a credit check, applicants with bad credit or bankruptcies are approved just like people with good credit. Plus, not having a credit check speeds up the process.