Title Loans Charlotte North Carolina
Have you tried your local bank, but because of bad credit, you have received a denial or rejection? Have you given up? You don’t have to give up. You can approach a title loan lender and get the financial help that you need to ease your financial burden.
It is only going to just take a phone call or access to the Internet where you will complete a short loan application. Once you have the right collateral and there are no liens attached to it, you are eligible to contact a title loan lender. So, don’t sit there wondering what to do. Get started with finding the appropriate solution to cure your financial woes. Online title loans are the answer and so, you need to talk to Platinum Lending about it today. Title loans in Charlotte have helped others and it can help you too.
Title Loans Charlotte City
The city of Charlotte is number one on a list of the most popular cities in the state of North Carolina. For that reason, it is the county seat and continues to grow faster than the estimated population in the year 2014, which was 809,958 as indicated by the U.S. Census Bureau. It is known as the “Queen City” and has become a large financial center in the United States, second to New York City.
A title loan is a form of debt financing where the lender uses the borrower’s assets as collateral. The most popular form of title loan in Charlotte is a car title loan. In this loan, the lender uses the borrower’s car title as collateral. The borrower must be the outright owner of the car and be able to sign over its title to the lender. The lender can loan up to 25 percent of the total value of the car. If your car has a value of $20,000, the loan company will give you a maximum of $5,000. The repayment period for a car title loan does not exceed 30 days. The borrower can choose to repay the loan once or spread it over the entire period. In case a borrower fails to repay the loan as agreed, the lender has the right to repossess the car to recover the amount.
Title Loans Charlotte Laws
Title loans in North Carolina are similar to the same in other states across the country. Like other states, your vehicle is the acceptable collateral. However, according to the Consumer Finance Act of North Carolina, there is no restriction to the maximum amount that a lender can loan the borrower. However, an assessment of the vehicle may determine the loan amount.
The regulations governing title loans in Charlotte NC come from the North Carolina State Treasurer. These regulations apply to companies who offer title loans in North and South Carolina. According to the laws, every borrower must be on the title for the vehicle presented as collateral. The borrower must have a steady source of income and be a resident of the state. He must also not be a debtor in any bankruptcy case or intend to file for bankruptcy.
Anyone who wants to operate a title loan business must obtain a permit from the state. North Carolina does not completely allow title loan lenders. A law passed in 1999 made title loans with more than 30 percent interests completely illegal in the state. A person can still operate a title loan business if he is willing to offer loans with interests rates less than 30 percent. South Carolina allows all title loan lenders, regardless of their interest rates. However, the loan amount must be more than $1,000.
How to Apply for a Car Title Loan
You can either choose to visit the offices of the lending company or apply online. Applying online is more convenient and saves a lot of time. You will fill out an application form with the details of your car. The details should include the year of manufacture, mileage and registration number. You will also be required to indicate your personal information. This should include your home address, phone number and full names. Once you complete the application, you will be given a free car title loan estimate. The company will also send a representative to your place to evaluate the car at your own convenience.
No individual wants to have financial problems, but it happens to the best of us. As life goes on, unexpected things may happen, causing you financial distress and a need for assistance. Some people take the route of calling their local financial institution; a bank or credit union, only to be disappointed with the outcome. You don’t have to take that route. A title loan is so much easier. The process is simplified to accommodate your needs. Your vehicle is going to be the security for the loan. Have you paid off the balance on the vehicle? Do you have the title in your possession? Is it free of any liens? If the answer is yes, then you can move forward with the loan application today to obtain one of the title loan, or even a motorcycle title loan in Charlotte.
Now that you have determined that the collateral is eligible, then it is time to gather other documents that will be required such as:
- Pay Stubs, tax return, social security award letter, unemployment benefit and disability benefit letter or retirement income
- Driver’s license or a valid photo ID issued by the government
You can obtain title loans without a job if you are unemployed and receiving unemployment checks.
Have you gathered all the documents? Apply for one of the title loans in Charlotte today and be on your way to financial relief. In 24 hours or less, you could be smiling – all the way to the bank! If you have any questions or concerns, you can speak to one of the representatives at Platinum Lending.
Many people love car title loans in Charlotte NC because they are easy to get. You only need to avail a title and prove that you are the outright owner of the car to get a loan. Vehicle title loans do not consider the borrower’s credit history when determining qualification. This means that even those with bad credit histories can still get a loan. Title loans mature faster than other forms of debt financing. Most lenders receive the applications and process them within one day. Another advantage is that vehicle title loans are cheaper than payday loans. The highly secure collateral and short repayment periods attract lower interests.