Applying For Title Loans In Old Bridge, New Jersey
Everyone goes through rough financial times here and there in life. It can be a very stressful time to go through. Matters can be made even worse if you don’t have the money you need to get through emergency situations. If you can’t borrow money from friends or family, you may need to look into applying for a loan. There are many loan options for people to consider. However, if you have less-than-perfect credit, your options will be very limited. When you need to get money fast, title loans in Old Bridge are the best options out there.
Edison title loans and other title loans in New Jersey are short-term, secured loans that borrowers can apply for both in the store and online here at www.platinumlendingltd.com. An auto title loan is given to a borrower in return for a lender putting a lien on the car’s title until the loan gets repaid. If the loan is successfully paid back, the lien will be removed by the lender and the title will be clear again.
However, if a borrower fails to repay the loan as stated in the terms and conditions, the lender will be able to repossess the vehicle and do whatever they want with it. Typically, a lender will sell the car at an auction and use the money from the sale to cover the unpaid loan.
How To Apply For Old Bridge Title Loans
An auto title loan is easy to apply for through our company. Some borrowers will finish the application process in under an hour. The information needed to complete the application is easy to obtain and fill out. You will need to fill out some information about yourself as the borrower including your legal name, address, contact number and zip code.
The information about the vehicle you will be using as collateral should include the year of it, its make and model and the current mileage. Once you have finished the application and submitted it, you are going to receive your title loan quote. If you are satisfied with how much the quote is, a friendly car title loan representative will call you to go over the loan and answer any questions you might have.
Rules And Laws Surrounding Title Loans In Old Bridge
Any lender has to follow certain rules and regulations within the law with regards to how they run their loan business. If they don’t follow the laws, they will lose their businesses. In New Jersey, there are some laws that title loan lenders have to follow.
The interest rate on a title loan cannot exceed twenty-five percent during the loan term. Rules and laws are made to protect buyers who get caught up in the cycle of relying on fast cash loans more than they should.
Benefits Of Applying For Title Loans In Old Bridge
- Bad Credit Ok- One of the best benefits of vehicle title loans is that you don’t have to have great credit to apply. Most lenders won’t even require a credit check during the application process.
- Can Still Use Car- While you are still fulfilling your car title loan contract, you will be able to drive your car like you normally did. There is no need to store it or give it to the lender while you are making your payments.
- Different Vehicles Qualify- Other than cars, a vehicle title loan can be taken out on other types of vehicles as well such as on RVs, SUVs, trucks and motorcycles.
Vehicle Title Loans Compared To Other Fast Cash Loans
Cash advances and payday loans are other fast cash loans that borrowers may get when they need money fast. However, they usually come with very high interest rates on them and have to be paid back in full on your next payday.
Personal loans are a great option for borrowers that need money quickly because they come with lower interest rates and have flexible repayment plans. Unfortunately, they are only available to people with better credit.
Information About Vehicle Titles
In order to apply for a car title loan, you will need the title of your vehicle. If you don’t have the title, you can contact or visit your local DMV for information about obtaining a new copy. Additionally, in order to be approved for a loan, you will need to have a title that is clear of any other liens from other lenders.