Title Loans in Kansas
Generally, a car title loan is a short-term loan where the borrower’s automobile is used as collateral. Some states don’t allow car title loans, and lenders have to use loopholes to provide potential borrowers the ability to get access to the cash they need. Title loans in Kansas are sold as open-ended credit lines, as a loophole to provide you with a title loan. This requirement is necessary for the lender to offer you the cash you need in a quick fashion at a reasonable rate. Kansas has no rate cap for open-ended credit lines from licensed lenders. Through utilizing this loophole, the lender has the ability to offer you thousands of dollars for your car.
Why Get a Kansas Car Title Loan
There are many ways title loans in Kansas can benefit you. Perhaps, you need quick access to cash to pay for an emergency household repair, or maybe you need a few thousand dollars deposited into your bank account so that you can pay college tuition. When you know the exact amount of money you need, and you need the cash quickly, a title loan is an excellent solution. Loan approval is quick, which means you don’t have to wait long to get cash in your hand.
Is Good Credit Needed for a Title Loan in Kansas?
You can easily apply for a title loan in Kansas through Platinum Lending LTD. Have bad credit? Don’t worry. You may be able to get cash in your hand in under 24 hours with a low-interest rate. You can call the office from 9:00 am to 6 pm, seven days a week, and the phone number is (1-888)713-9792, or you can submit an online application and receive an estimate.
Title loans in Kansas don’t require credit checks, so as long as you have a source of income and a clear car title, you’re ready to apply. However, if you’re unemployed, you may still qualify. Any documents that you can gather showing that you receive money would be a great help.
The average price of a loan is based on the value of the vehicle. However, a good rule of thumb is that you can expect to receive approximately 75 percent of the equity value of the car. New cars receive better offers than older cars, and the condition of the vehicle is taken into consideration, as well.
Things You’ll Need Before Applying
Now, if you’re ready to start the application process, you’ll need a few things. Gather your free-and-clear car title, your driver’s license or state ID card, and whatever proof of income you have. Pay stubs work well, but you could also show bank statements that display consistent deposits. If you want a quick quote, fill out the application online, and you’ll receive an estimate, but you won’t know the exact amount you’ll get until you drive your car to the brick-and-mortar location for a complete evaluation.
Some people don’t know this, but in Kansas, you’re allowed to get a title loan in surrounding states like Missouri, as well. Also, you get to keep your vehicle even after you get cash in your hand.
Benefits of Title Loans
If you’re on the fence about title loans in Kansas, consider these useful benefits before making a decision:
- Cash in your hand within 24 hours or less. This is one of the best ways to get money for an emergency.
- Unlike a pawn shop where you lose immediate access to your property, you still get to drive your car while you’re paying the loan off.
- Credit history isn’t taken into account. Many lenders don’t want to give you a second chance, even though you’re trying to improve your credit score. However, getting a car title loan focuses on the important things when considering your application.
