Title Loans Woodstock, Georgia
If you’ve ever been in a jam and needed cash fast, then you know how useful title loans in Woodstock can be. With that in mind, let’s examine these loans and how you can benefit from them.
Title Loans Woodstock: What You Need to Know
Title loans in Woodstock are short-term loans that you acquire using a title of a vehicle that you own as collateral. A loan against car doesn’t mean that you have to relinquish the vehicle. Rather, you keep the vehicle for your personal purposes and simply repay the loan on the agreed upon schedule. Since these loans are secured, the lender takes on little to no risk. What does that mean for you? Well, it means simple applications, fast processing times, flexible loan amounts and terms and so forth.
Title loans are different from most loans because most loans aren’t about getting you cash in hand as fast as possible. If you go to Ameris Bank on Main St, you’ll have to go through an extensive application process and approval may take 24 hours or more. An institution like SunTrust Bank may require a $5,000 or larger loan even though you only want several hundred or whatever, and the Bank of North Georgia may require a six-month term and early repayment penalties even though you just want to borrow the money for a week or two.
Title Loans Woodstock: Getting Your Loan Online
Getting a title loan is easy, and it’s even easier when you do it online with Platinum Lending. All you’ll need to get the ball rolling is some basic information, such as:
- Year, make and model of your vehicle
- Estimated mileage
- Your full name and zip code
- Your cell number and email address
Applying online is simple, and you can do it for a car, truck or motorcycle. Within seconds of posting your information, Platinum Lending will provide you with an accurate estimate of the maximum amount you can borrow. Even with online title loans no inspection is required, and most information can be validated through computerized systems. That means that most people can finalize a loan without even leaving their home. When you’re ready to complete your loan, Platinum Lending will have a loan specialist contact you to answer your questions and help guide you through the remaining steps.
Title Loans Woodstock: Regulations in Georgia
Title loans in Atlanta and throughout the state are governed by a series of laws and other regulations. These rules are in place to protect consumers. The state restricts loans to a 30-day period. Loans can be for shorter periods and extended for additional 30-day periods. Interest rates are capped at 25 percent monthly and 300 percent annually for the first three months. After that, interest rates are capped at 12.5 percent monthly and 150 percent annually. This amounts to a 187.5 combined maximum interest rate on an annual basis.
Title Loans Woodstock: The Benefits
The greatest benefit of a title loan is convenience. You can get the money you need when you need it without a lot of hassle. The same can’t be said for bank loans, and other short-term options tend to cost a lot more overall. Most title loans will process in as little as 15 minutes. There’s no need for a credit check, which mean you can borrow even if you have bad credit or no credit. There’s also no need for a background screen or income verification, so it doesn’t matter if you’re between jobs or collecting unemployment.