Title Loans in Smyrna, DE
Situations and circumstances change, which is why people sometimes run into money problems. For instance, an unexpected job loss by a spouse means an immediate and drastic reduction in the amount of money coming in every week or two. Unless that spouse finds another job with equal or better pay immediately, it won’t be long before bills get behind. Sometimes, all you need to stay ahead of things is a little extra money to fill the gap between jobs. That’s where a Dover title loan comes in handy. Title loans Smyrna are easy to get, and you could have the money within hours.
What are Smyrna Title Loans?
Title loans Smyrna are simple, personal loans based on collateral. An applicant pledges their car, truck or other vehicle as security for the loan. A lender offers them an amount of money based on the value of the vehicle used as collateral. Borrowers are required to give the vehicle title certificate to the lender when they get the money, but the title is returned when all loan payments are made.
Qualifying for requires an applicant to own the vehicle they put up as collateral, and the vehicle needs a clear title. Applicants need to be at least 18 years old and have a government-issued form of identification. A job is not required, but applicants must have an income so they can afford loan payments. Examples of other sources of income include unemployment benefits, alimony and retirement payments.
There is no credit check with title loans. Your vehicle is the main requirement, so don’t worry if you have poor or bad credit. All applicants have the same chance of being approved, regardless of their credit score.
Applying for Title Loans Smyrna
Applications for title loans Smyrna only take a few minutes to complete. Just give us your name and contact information, and add the details of your vehicle, such as the make and model. When we get the application, we get you an immediate title loan quote. Accept the offer, and we can start processing right away. There are a few more details about your income and vehicle we need to get before we wrap things up, but you should be able to receive the loan money within one day of applying.
- Loan terms can extend for up to 180 days when a loan is rolled over.
- Borrowers can cancel a loan by giving back the money within one business day of accepting the loan. Lenders may not charge a cancellation fee.
- State law does not regulate the interest rate on title loans, so each lender and borrower must agree to a rate.
- Before signing a loan agreement, the borrower must be given a written statement by the lender that details specifics of the title loan process, including the possibility that the customer’s vehicle could be repossessed for non payment.
- Lenders may not threaten to take legal action against a borrower if their account is delinquent.
- If a borrower falls behind on loan payments, the lender is required to offer a plan to workout the loan before repossessing the borrower’s vehicle.
- Short and easy applications.
- Fast processing means most borrowers get their money in less than a day.
- There is no credit check. No matter what is in your credit report of how low your credit score, you can still get a title loan by pledging your car as loan collateral.
- Loans can be rolled over to give you more time to make payments.
- Interest rates are not set by the state, which means the borrower and lender can work out a competitive agreement.