Title Loans Danville, Illinois
There is nothing more stressful than needing cash and not knowing where you are going to get it, but when you need cash fast a car title loan is there to help you out. When you get a title loan, you can have money in your account quickly. In fact, most borrowers have their loans in place in just a few minutes and have loan money in their account in just a few hours.
Title loans are a simple way to borrow that let you get a loan by using your vehicle’s title as collateral for the amount you borrow. When you get a title loan you don’t have to give up the car. Instead, your lender simply holds onto your car’s title while you borrow. This lets them know that you are invested in the loan as well, which enables them to cut out lengthy credit and background checks and instead get you your money quickly. Then, when you have fully paid off your loan, your title will come right back to you.
These loans are short term loans that will help you take care of your most pressing financial needs while giving you some time to make longer term financial plans. With title loans, most Danville and neighboring Champaign borrowers get between a few hundred and a few thousand dollars, and will have between one and a few months to pay everything back in full.
Preparing Your Car
You don’t actually give up your car when you get a title loan, but since the value of the loan is secured by your car it helps to make sure that you have all of your paperwork lined up in advance. Most things are easily taken care of online with the Illinois Secretary of State. Using their one stop portal, you can:
- Update your address and contact information on file with the state
- Renew your vehicle registration
- Get a copy of or replacement for your title
- Take care of any outstanding fees you have against your vehicle
What To Know About Illinois Title Loans
When you get a title loan in Illinois, you want to make sure that you are working with the right lender and the right loan for your personal borrowing needs. Make sure that your lender is properly licensed through the state. Only licensed lenders can properly and legally provide you with a title loan, and only they should be trusted with your personal and vehicle information. Any unlicensed lender is not operating legally and should be reported directly to the Consumer Financial Protection Bureau.
It is equally important to make sure that you are working with a loan that is right for your borrowing needs. To determine if a loan is right for you, take a look at your loan agreement. You should be given a written copy of a loan agreement before you ever commit to a loan. This will lay out all the terms of your loan and let you evaluate whether you can handle a loan. Make sure to check out not only how much you will be borrowing, but also at what interest rate and with what other fees attached.
Alternatively, to get help finding a loan that is right for you, just call us. We can match you with a loan in seconds that is safe, trustworthy, and custom selected specially to fit your needs as a borrower. All you have to do is give us a ring. Also you can fill out our online application form to get an instant title loan estimate to your email.