Title Loans Dolton, Illinois
When you have an emergency car repair, you need cash right away. After all, you need that car to get around. Most importantly, you need it to get to and from work. If you are low on cash and facing an emergency like this, you may need to take a look at the title loans Dolton option.
Applying for a title loan
Your title loans Dolton is secured by your title. If you take out a Platinum Lending title loan, your vehicle is used as a form of collateral, much like how your home is considered collateral if you have taken out a mortgage. You have several options to apply for a title loan. You can apply for a loan online or in person. Most of our busy applicants find it quicker to begin the application process online. On the form, you will be asked to enter vehicle information such as registration and mileage information. This information is used as a means to assess the value of the vehicle. Once you have submitted the application, you will receive an approval within two days. Majority of our applications receive a decision within one week. We disburse the funds once you have been approved.
How is the amount of the title loan determined?
The amount of the title loans Dolton is determined using several metrics. The value of the title loans in Chicago can be anywhere between 25 and 50 percent of the current value of the vehicle. The mileage, year, make and model can all be used in assessing the car’s value. Additional research may be conducted online to help identify the appropriate value for the loan. An in-person inspection and registration information could also determine the vehicle’s worth.
What are the title loan regulations for Illinois?
The title loans we issue are regulated by the state. We offer refinancing to all of our customers, but we can only do so when you have reduced the principal by at least 20 percent. Most of our loans that we offer are far below that amount. If we were to issue you another loan against your car after you’ve already taken one out, the principal cannot exceed the outstanding balance. The Platinum Lending loan cannot be default status if you are trying to refinance it. By law, we are only able to loan $4,000 for a title loan.
Benefits of car title loans
Car title loans level the playing field for borrowers. We offer title loans Dolton to non-traditional applicants. People who are unemployed or have blemishes on their credit history can qualify for bad credit title loans. We only ask that you submit a clean and clear title and supply your income information in order to qualify. We don’t look at your job history, credit score or income as the determining factor for granting a loan. We just need proof of income and a clear title, and you’re pretty much approved. We have been able to help people get loans without inspections. Unemployed applicants as well as those who have filed for bankruptcy in the past have been able to qualify for this type of loan.
You don’t have to borrow to handle that emergency. You don’t have to pawn anything to get the cash you need. You are eligible for a car title loan if you have a clean and clear title with proof of income. You can get approved within minutes if you submit a Platinum Lending complete application.