Title Loans Dothan, Alabama
It doesn’t have to take a long time or a perfect credit score to get a loan. In fact, with title loans Dothan borrowers can get cash in just a few hours using nothing more than some of their car’s paperwork. Title loans are borrowing made quick and convenient for when things need to be fast or readily available.
Unlike something like a bank loan, Dothan title loans are actually short term collateral loans designed to be easy to get and easy to manage. These loans generally last a few months at the most and range anywhere from a few hundred to a few thousand dollars. They aren’t designed to take care of long-term financial needs, but rather to immediately help with short term financial problems and provide breathing room when you are looking for longer term financial solutions.
The loans work by using you car. Specifically, they use your car’s title paperwork. You keep the vehicle itself, while the title is held by the lender as a means of ensuring you are invested in the loan, too. Once you have paid the loan off plus any fees and interest, the title comes right back to you. In the meantime, you get some quick cash and some much-needed peace of mind.
The Title Loans Alabama Borrowers Trust
Of course, simply because title loans are an easy means of getting money does not mean that they are any less significant a financial decision than any other type of loan. That is why finding a loan that you know you will be able to trust from a reputable lender is so critical.
Alabama state regulation allows for title lending but has put down some rules for lenders so that they better understand how to work with borrowers and protect their rights. As a borrower, understanding these regulations can help you find the types of title loans Dothan borrowers have trusted for years.
Before you do anything with any lender, make sure they are registered with the State of Alabama. A lender that is not registered cannot be monitored for compliance, and should be avoided. Once you know a lender is on the books with the state, you still have to make sure they keep your best interests in mind.
This includes being as transparent as possible during the lending process. Remember, just because you get a title loan quote or a loan agreement does not mean you are committed to a loan. With title loans, Alabama borrowers are not committed until they sign a loan agreement and return it to a lender. Any lender trying to get you to commit to a loan before you get to see the agreement and all of its terms is best left behind.
When you do get your loan agreement, it should clearly state a few things about the loan so that you know if you are able to manage it. These should include:
- The amount of the loan principal
- The duration of the loan
- The interest or financing rate
- What other fees will be charged to the borrower
Any lender who will not provide this information, or who you believe is otherwise abusing your rights as a borrower, should be turned into the Consumer Financial Protection Bureau right away.
For help finding the types of title loans Dothan borrowers love, simply give our team a call. We have been working with Alabama title lenders for years, so we know who goes above and beyond to get their borrowers the best rates and the best terms. We can match you with an Alabama title loan in a matter of minutes. All you have to do is call.