Title Loans Glen Ellyn, Illinois
If you are a current Glen Ellyn, IL resident and need cash quickly in an emergency, we can help. At Platinum Lending, we help make the process more convenient for you. No more headaches over banks using derogatory marks on your credit report to deny you when vacation expenses, mortgage payments and electric bills loom. Maybe there was a recent death in the family or an employer fired you unexpectedly. Our title loans provide a temporary emergency fund in any event from the comfort of your home. When options are limited, you can count on us for help no matter where you are in the state or country.
Title loans in Naperville and Glen Ellyn offer an easy approval process for applicants with bad credit or no credit. All you need to qualify is a government-issued ID, vehicle title (lien-free car, SUV, motorcycle or truck) and a verifiable source of income. You need to be at least 18 years or older before filling out our application. The vehicle price determines the maximum loan amount you can receive. Once requirements are met, funds are transferred to your account within 24 hours of applying. Apply for a title loan today to receive your free title loan estimate!
Title Loans Glen Ellyn application requirements
Filling out our application takes ten minutes, and we will ask you for the following:
- Your name
- Proof of residence (street name, ZIP code)
- Email address
- Phone number
- Vehicle registration with VIN number
- Driver’s license or state ID
- Requested loan amount
You also don’t need employment to obtain a title loan. Recent paystubs, Social Security statements or regular bank deposits will suffice.
How do Title Loans Glen Ellyn work?
We use your vehicle as collateral as long as it functions properly and have a valid title. You keep your car and make payments, while we become the lien holder. The lien determines how much you still owe us. If you fall behind on payments, we have repayment plan options. We only repossess your car when other means of obtaining payments have failed.
Know your consumer rights
In 2009, the Illinois Department of Financial and Professional Regulation (IDFPR) revised its title loan regulations. These are the current terms and conditions:
- The maximum amount borrowers are eligible to receive is $4000.
- Loan payments cannot exceed 50 percent of the borrower’s gross monthly income.
- Payment amounts will come in equal intervals.
- Borrowers who have unpaid title loans in the past 15 days are ineligible for additional loans from the lender.
- Title lenders must inform consumers of their rights and responsibilities. Debt management options and a helpline phone number are provided.
- Borrowers are eligible for refinancing when the principal amount is paid by 20 percent or more.
- Borrowers must remove all personal belongings from the vehicle during repossession by the lender.
- Lenders cannot allow the borrower to lease a repossessed vehicle again.
Benefits of Title Loans Glen Ellyn
Approval rates for online title loans are higher than unsecured loans and background checks aren’t needed for approval. Title loans are processed once we verify the worth of your car. In contrast to bank or credit union loans, no credit checks are required, and bad credit title loans are also available.