Title Loans Round Lake Beach, Illinois
When someone says they need money right now, the assumption is that they have to pay the power or water bill before it is shut off. Or, perhaps they had a medical emergency and need money for expensive prescriptions. Generally, people assume a financial urgency is an actual emergency. What if the need for money is simpler and less complicated? Sometimes you need money for something you really want, and if you don’t get the item now, it won’t be available later. Title loans are good for all sorts of cash needs. Lenders don’t need to know what the money is for. We provide it, and you spend it however you want.
Title Loans Round Lake Beach
Just in case you are not familiar with the concept of a loan against car, it is simply using your vehicle as security for a loan. Title loans in Round Lake Beach are short-term and considered small-dollar, even though consumers can get loan amounts in the thousands.
What separates title loans Round Lake Beach from other types of loans is the fast and easy process, especially when you borrow from Platinum Lending. Our online auto title loans are awarded in no time, usually 24 hours.
Applying for Title Loans Round Lake Beach
Applying for title loans in Waukegan and Round Lake Beach begins with making sure you qualify. Basically, if you own a car and have clear, lien-free title, you can get an auto title loan. Platinum Lending also requires you to have a source of income so you can repay the loan, but that doesn’t mean we need to verify your employment. In fact, your income can come from a variety of sources outside of a job. As long as you have the income, you qualify for a title loans Round Lake Beach.
After qualifying, just tell us about your car and about yourself. We don’t need much information, but knowing the make, model, year, mileage and style of your vehicle helps us determine how much loan money to offer you. Of course, we need your name and phone so we can call you to work out the loan details.
Illinois Legal Information
- The Illinois Department of Financial and Professional Regulation (IDFPR) licenses title loan businesses in the state.
- Lenders can offer loans up to $4,000, but the loan amount must not be more than half of the borrower’s gross monthly income.
- Lenders must fully disclose to consumers all interest charges, all fees and the annual interest rate of the loan before the borrower signs a loan contract.
- Lenders must not require consumers to pay balloon payments, and they must allow borrowers to repay title loans early without penalty.
- Before signing a loan contract, lenders must give the borrower an IDFPR brochure about debt management and consumer rights and responsibilities.
Title Loan Benefits
Hands down, the biggest benefit of a title loan is being able to get money fast when you need the cash. During a financial emergency, you don’t have the luxury of spending long amounts of time on bank paperwork and waiting days and days to be approved. Now means now, which is why title loans are a good idea. Usually, the loan process is complete in about a day, but even if it takes a few days, you get a title loan much faster than a bank loan. Plus, there is less paperwork and less hassle.
Another big benefit of getting a title loan is that you keep your vehicle the whole time. Title lenders don’t deprive the customers of transportation because if people can’t get to work, they can’t make money to repay their title loan.