Title Loans Delaware, Ohio
With your financial situation experiencing a nose dive, what do you do? Are you tired of going to relatives and friends to ask for money? Is it become too overwhelming and frustrating to even care? You should care if you want to remedy your situation and find a way to get back on track in good financial standing. A title loan will help you to do just that. If you own a car and it is free and clear of liens, you could be qualified for an approval. It does not take long to get approved because Ohio title loan lenders know that when you want money urgently, the process should be fast. If you live in Delaware, Ohio, there is a lender to help you with a solution to your money problems.
The City of Delaware
The city of Delaware is located in Delaware County, which is the county seat within the state of Ohio, about 17 miles north of Dublin. The city was established in the year 1808 and received its incorporation in the year 1816. Located central to the state of Ohio, the city of Delaware is roughly thirty miles to the northerly direction of Columbus and is an integral part of the metropolitan area. Since the year 2010, the population was reported as being 34,753. Both the country and city of Delaware got their names from the Delaware tribe in the area. The first settler to be recorded in 1807 was Joseph Barber. Known as a small community, the area is still popular. After the 1812 War, there were many settlers arriving in great numbers. In 1851, a railroad line was constructed to serve the Cleveland, Cincinnati and Columbus areas.
Title Loan Laws
The Ohio Revised Code was initiated to guide title loan lenders in how loan transactions are made between the borrower and the lender. Interest rates are administered by the laws related to the Mortgage Lending Act and this law states that loan amounts cannot go over 25 percent. The borrower must receive full written disclosure with the agreed terms of the loan transaction.
The Loan Process
The process of being approved for a title loan takes only a few direct steps. Once you decide to get a title loan, the first step is to complete the application and then submit it to the lender. This can be done online and more importantly, from the comfort of your home. Your relatives and friends need not know that you are applying for a title loan.
The next step in the loan process is providing the details of your vehicle for a fair market value assessment by the lender using the Kelley Blue Book online platform. The value is used to estimate the title loan amount. The information needed to do this includes:
- Odometer reading
- VIN number
- Make of vehicle
- Model of vehicle
- Year vehicle was manufactured
No Credit Required
No credit is necessary to apply for a title loan. So, if your credit is bad, you need not fear. The title loan lender unlike the traditional lender only wants to hold onto the collateral and ensure that you have the minimum requirements for paying off the loan.
One of the requirements for a title loan approval is proof of steady income. This shows that you are earning the money necessary to pay the loan. You also have to be 18 years or older and you must own the title to the vehicle.
Once you have all of those things, your next step is to go ahead and do the application online or over the phone. You could be approved for the title loan within hours, helping you to handle your financial situation right away. So apply today.