Title Loans Springfield, Illinois
If you need a personal loan but have poor credit, take out a title loan in Springfield and receive up to $4,000! Depending on how much your car is currently worth, you can get the maximum borrowing amount. All you need is the title of the car you have. You are granted a title if your car is paid off completely, and may be gathered at your local Department of Motor Vehicles. If you have a newer model or year, you may be guaranteed that $4,000. Find out more about how much you can get and how to get fast cash by applying online!
How and Where to Apply
Applying for a title loan in Springfield is fast and easy! You can choose to apply with us through the form on our website or call in! Our representatives are standing by, 7 days a week during the hours of 9AM to 6PM to assist each applicant. They are also able to give you a free title loan estimate over the phone, as well as help you figure out what else you need to do, and locate the nearest lender in Springfield for you.
It is required that each applicant is 18 years old or older. None of our lenders will work with any minors, and will require you to provide a proof of age with a type of photo identification such as your passport, Driver’s License or State ID. Some paperwork you may need to bring are:
- Vehicle Title
- Proof of income (Recent bank statements or pay stubs)
If you are someone who is self-employed you can provide the lender with a way of proving that you get some sort of monthly income. Let your representative know if you are self-employed so they can give you a list of appropriate substitutes.
On the other hand, if you are unemployed, you will still be able to provide some proof of income if you are receiving any aid such as unemployment, social security or disability. Just let the representative know if this is the case and they can notify the title loan lender you are matched up with before hand.
Illinois Laws on Title Loans
The Consumer Installment Licensees (CILA) provides a list of lenders licensed in your area. All title loan lenders must be licensed in the state of Illinois to operate, if you do not see your lender on the list, contact the CILA and inform them of this. Compared to other title loan states, Illinois’ regulations require the lenders to divide the payments you need to make equally. This eliminates balloon payments and avoids any over charges or added interest. This practice makes it easier to pay back the loan since you are not being surprised with additional charges and the repetition makes it easier for you to budget your expenses. You are also allowed to make payments before each scheduled date. Making early payments allow you to get your title back from the lender faster. You can either visit the title loan Illinois lender, or have them mail you back the title after you have finished paying the loan off. Consequently, if you think you will be late on a payment, just let your lender know. Most title loan lenders will allow you to make a payment a day or two after the scheduled time without any consequence.