Title Loans Belvidere, Illinois
Sometimes, it is embarrassing to admit you need help. People feel like failures for not being able to take care of their own needs, or they feel that people will look down on them for struggling to make ends meet. In reality, most people need help at one time or another. Research shows that 75 percent of Americans live paycheck-to-paycheck and 27 percent of Americans have no savings. That means if an emergency arises, these people won’t have money to take care of the problem. With three quarters of the population in the same boat, it’s not likely friends and family can help either. Good thing there are title loans Belvidere.
Title Loans Belvidere
Title loans Belvidere are a loan against car title. You own a car and need money? Just apply and be approved, let Platinum Lending hold onto your lien-free car title and take the money. If that sounds too simple or too good to be true, it’s not. There are a few more steps involved in the loan process, but it’s still very easy and very quick. Most applicants have their loan money in 24 hours. Even applications that take longer are completed in just a few days.
Title Loans Belvidere Application
Applications for title loans in Belvidere are available to anyone who is at least 18 years old and owns a car. Provide the year, make and model of your vehicle, as well as its style and mileage. Then, provide your name, email address, phone number and zip code. Afterward, you get an instant loan estimate.
Getting your loan estimate completes part one of the application process, which only takes a couple of minutes. Part two includes you and a Platinum Lending representing ironing out the details of your loan. Details include us letting you know what else we need, such as proof of identification and income, setting a repayment plan and when you want to collect your money.
Illinois Legal Title Loan Information
- Auto title lenders are licensed by the Illinois Department of Financial and Professional Regulation (IDFPR).
- State statues require title lenders to disclose all fees, the annual interest rate and interest charges before borrowers sign loan documents.
- The maximum loan amount allowed in Illinois is $4,000, but individual consumers may not borrow more than half of their gross monthly income.
- No balloon payments allowed.
- No early payoff penalties allowed.
- Lenders must give borrowers an IDFRP-produced brochure that includes information about consumer rights and responsibilities, debt management services and a phone number for questions, comments and complaints.
Title Loan Benefits
- Easy Money
Comparing title loans with loans from a bank shows how much easier a non-traditional loan is for consumers. Lenders only ask basic information. Borrowers only need a lien-free car and an income. Since your car is part of the loan package, there is never a need to run a credit check. Whether a person has good, fair or terrible credit, it has no impact on them being approved for a title loan.
- No Inspection
By using the Platinum Lending website, you are applying for an online title loan with no inspection. If you apply in person, a loan representative has to inspect your car to make sure it’s in good condition, that is safe enough to be on the road and that the vehicle is up to local codes. Online, you tell us the condition of the vehicle and we take your word.
- Keep Driving
While paying off the loan, leave your title with us and keep driving your car.
Title loans in Rockford, Belvidere and other neighboring communities are a great way for anyone running low on cash to get the money they need.