Title loans Macon, Georgia
Financial problems can plague to any American household, especially during an economic recession, but also at any other times when there is an emergency. This means that you don’t have to be embarrassed if you are caught in such a situation. You are not and will never be the only one. Take heart and know that there is help available out there for you. While you may not know enough about various sources of funding, you should be aware that title loans carry a greater weight when it comes to speed, simplicity and ease. Unlike the traditional lender, title loan lenders understand that consumers can be caught in a web of financial problems and that is why they have gone to lengths in preparing an easy way for a resolution. The residents of Macon have access to title loan lenders in the area. So, if you are in a financial problem, don’t hesitate to contact your local title loan lender.
The City of Macon
The city of Macon is located in Bibb County within the state of Georgia. It is situated in close proximity and centrally to the geographic area of the state. The city is only eighty five miles to the south of the city of Atlanta. Many people know this city as the “Heart of Georgia.” In the downtown area, there are still historic buildings that been revitalized and preserved for the educational interest of the residents and visitors. While the area is more rural, it is still known for its cultural, educational, medical, retail and financial center. The U.S. census data puts the population at 91,351 in the year 2010.
Title Loan Laws
In the title loan industry, the state of Georgia refers to the loan transactions as title pawns or pawn transactions. Title pawnbrokers are the lenders that process these loans. The pawnbroker is allowed to charge an interest rate of no more than 25 percent for a loan with a thirty day term. If the loan rolls over to 90 days, the interest rate can be no more than 12.5 percent.
There are several advantages attached to title loans Georgia. For one, the loan process is faster than that of other financial institutions. The requirements are minimal. However, more importantly, you can use a title loan to build your credit or improve your credit as long as you pay on time. You don’t have to be concerned about credit ratings when applying for a title loan. For that reason, the process is open to people with no credit or bad credit.
There are minimal documents necessary to apply for a title loan. To prove age, you need a valid government identification card or driver’s license. For proof of income, you need to show steady stream of income, whether paystubs, retirement income, disability benefits, unemployment benefits, social security benefits or worker’s compensation. Lastly, and most importantly, you have to prove that the vehicle is in your name and that it has no lien.
The Loan Amount
The pawnbroker determines the loan amount by assessing the value of the vehicle using the Kelley Blue Book online portal. Once the value is assessed, the lender will give up to 50 percent of the value as the loan amount. It all depends on the equity in the vehicle and other circumstances decided by the lender.
Apply for a Loan Now
Now, it is time to begin the application process for your title loan. It only takes a few minutes to apply. So, start filling out the short loan application now and get instant title loan quote.