Applying For Title Loans In Fayetteville, Arkansas
A car title loan is a type of short-term, secured loan that borrowers may apply for using their car’s title as collateral for securing the loan. These types of loans are great for people who find they need money fast for things such as emergencies and bills that are coming due fast. For borrowers in Fayetteville looking to get a loan who have bad credit, vehicle title loans make a great option because most lenders don’t require a credit check in order to get approval. The best way to get an auto title loan is through our website here at www.platinumlendingltd.com.
How To Apply For Fayetteville Title Loans
Applying for a car title loan on our site is quick and easy. Most applicants can have their applications completed in less than an hour. There is only some basic information that is required to apply for the loan. For the borrower, a full name, address, zip code and contact information is needed. The information that is required for the vehicle being used as collateral to secure the loan includes the make, model, year and mileage. Once the application is completed and submitted, a friendly loan representative will contact you at your earliest convenience to go over your loan application. You will also be given a free car title loan estimate at the time of submitting your loan online as well.
Legal Regulations Regarding Title Loans
There are many federal regulations that all lenders of loans have to follow with regards to their lending practices. These are set into place to protect borrowers from lenders who try and take advantage of applicants. Each state imposes their own additional set of rules and regulations regarding title loans. In Arkansas, vehicle title loans are to be no more than $400 and the maximum interest rate that can be set is seventeen percent. The loan term may also not exceed a thirty-one day period.
Benefits Of Car Title Loans In Arkansas
•No Credit Check- A great benefit of auto title loans is that there is no credit check needed. This makes a title loan a great option for borrowers who cannot get approved for other types of loans because of their less-than-perfect credit backgrounds.
•Simple Application Process- Applying for a title loan can be done online from the comfort of your own home. The application can be applied for in minutes and your loan can be approved the same day. You can also receive your loan funds as soon as one business day.
•Many Vehicles Qualify- More than cars can qualify for title loans in Fayetteville. Other vehicles that can qualify include motorcycles, RVs and SUVs. As long as the vehicle you are applying with has a clean title and has enough worth to cover the loan amount you have a great chance at being approved.
Car Title Loans Versus Other Loan Types
There are other types of loans besides title loans in Fayetteville that borrowers can apply for when they need cash quickly including personal loans, payday loans and cash advances. A personal loan is a great option if you have decent credit. You can apply for different loan amounts and there is no collateral needed. Cash advances and payday loans are small, short-term loans that you can apply for if you have a steady job. The lender will give you a loan and you will be responsible for paying it back with your next paycheck.
Vehicle Title Information
To be approved for an auto title loan, you will need to have the title in your possession. The title will also need to be a clean title. A clean title is one that has no liens against it from other lenders and shows salvage history, ownership details and potential inspection history. If you do not have the physical copy of your car’s title, you can apply to get it from your local DMV.