Title Loans Baton Rouge, Louisiana
Take control of your personal finances with title loans in Baton Rouge. Get the money you need when you need it and without any of the hassle that comes with bank loan.
Title Loans Baton Rouge: Car Title Loan Basics
All you need to get a title loan is to:
- Be an adult 18 years of age or older
- Possess a physical title for a car or truck that you own
Automotive title loans are short-term loans that are secured using a vehicle that you own as collateral via its title. Although the car is collateral, you still keep it and get to use it throughout the loan period. Secured loans have little risk for lenders, and what that means for you is that approval rates near 100 percent, loans process in just minutes, loan amounts can be small and loan terms can be short.
So title loans are so great for both lenders and borrowers, why aren’t the big banks involved? The answer lies in the bottom line. Big banks tend to avoid loans with small profit margins. That’s why if you go to Whitney Bank on Sherwood Forest Boulevard or Chase Bank on Perkins Road, they won’t even consider your personal loan unless the amount is high enough and the term is long enough.
Title Loans Baton Rouge: Car Title Loans on the Web
Title loans are so convenient that you can actually apply for them and even finalize the process online. Platinum Lending is a leader in online title loans and only requires a small amount of info to get started:
- Your full name and zip code
- The make, model, trim and year of your vehicle
- An odometer reading or estimated mileage
- An email address or phone number in order to contact you
Applying for title loans in Baton Rouge online is simple. Go to the Platinum Lending website and fill in the information above into the form provided. Within seconds of submitting it, Platinum Lending will provide you with a loan estimate. If you choose to continue, a loan specialist will call to confirm your information, explore your options and answer any questions you may have. At that point, he or she can help you complete the title loan process and get money in hand.
How Louisiana Regulates Car Title Loans
All lenders in the state of Louisiana must be registered with the state, and the license requires them to meet certain specifications. Lenders of title loans in Louisiana must provide borrowers with full disclosure, which means that the borrower is explicitly informed of the borrowed amount, all interest rates, all fees and total obligation. The law does cap interest rates and other factors for short-term loans. Those regulations tend to be stricter on loans of $350 or less, but the state doesn’t otherwise restrict loan terms, how many loans you can take out in a given period and so forth.
The Benefits of Car Title Loans
Title loans in Baton Rouge are an excellent option when you need a short-term loan, and these loans are also a superior alternative to other short-term options, such as payday loans, which often have a greater total cost overall. These loans have a high acceptance rate and process quickly because lenders don’t require a credit check. Bad credit title loans are common, and you can get these loans with no credit and or a bankruptcy on your record as well. Income usually isn’t a factor either, which means you can take out a title loan if you’re collecting unemployment, disability benefits and so forth.