Title Loans Chicago, Illinois
Do you need money in a hurry? Title loans in Chicago can help you through any financial challenge. At Platinum Lending, we offer car title loans as well as motorcycle title loans.
Title loans can be your solution to a short-term cash problem when other types of loans are not an option for you. Whether you have bad credit or just do not want to go through the hassle of a lengthy traditional loan process, Platinum Lending can help.
Advantages Title Loans Chicago
You have probably heard a lot of information about title loans, but you might not be sure that they are the best options for you. There are several advantages of securing title loans in Illinois through Platinum Lending’s online portal.
- Your application will be processed in a discrete manner
You can apply for a loan in the privacy of your own home. If you are a person who enjoys taking care of your financial business privately, online title lending is a discrete choice for you.
- Your car remains in your possession
Your title lender does not become the owner of your car. Your name is still on the title as the owner. However, your lender’s name is placed on the car as a lien holder. Throughout the duration of the loan, you retain full ownership rights. You get to drive your car while you are paying off the loan.
- It does not take long to process a title loan
You can have your title loan processed and the cash in your bank account in as little as a few days. Title loans involve a shorter application process than loans from a bank or a credit union.
- Your credit does not matter
Credit history is often a concern for people who have experienced unfortunate past events such as a job loss or an illness. Title lenders do not conduct background or credit checks for bad credit title loans.
- You can pay off the loan quickly
After you get your title loan, you can pay it off quickly. There are no penalties for paying off the loan before the term is complete.
Title Loans Chicago Laws
The State of Illinois has enacted regulations that ensure that you are getting a fair deal when you use your car as security for a loan. Lenders must provide you with a loan that has equal payments. It is not legal for them to require your last payment to be a balloon payment. All interest on loans must be calculated as simple interest. This means that lenders cannot make you pay interest on the interest that you are paying. The final thing is your monthly payments cannot exceed 50 percent of your gross monthly income.
About Our Car Title Loans
Platinum Lending is a reputable online title loan company that works within the regulations of the title loan laws in Illinois. It is easy to complete a no-obligation title loan application with Platinum Lending.
On the application, you will need to provide personal information such as your name, address and telephone number. The lender will also need to know the make, model, year and mileage of your car. Upon completion of the application, you will receive a free instant estimate of your car’s value. A representative will call you to complete the application process.
Title loans are a smart way to use your car’s equity to get over financial hurdles. At Platinum Lending, we can help you achieve your financial goals with online title loans.