Title Loans Lima, Ohio
If you are in a financial bind, do you know how you are going to escape from this? Are you taking steps to do so? If you are not doing anything about this, is there are definitive reason why? Is it that you have tapped into all the resources that you thought were available to you and there was no help there? You are not the only person that this has happened to. However, it is time that you were aware that there is help for you out there. In fact, a title loan lender is your ultimate source of financing. Moreover, you will be relieved to know that a title loan lender will overlook your credit history, if you have bad credit. So, instead of worrying about it and being crippled by your situation, take action by contacting a title loan lender today.
The City of Lima
The city of Lima is located in Allen County and is considered the county seat. You can find the city of Liam close to Interstate 75 and close to the northwesterly direction of central Ohio. It is about seventy two miles to the northerly direction of Daytona and about seventy eight miles to the southwesterly direction of the city of Toledo, Ohio. The population of the city in the year 2010 was 38,771 as indicated by U.S census data. It is the main city in the metropolitan area. The city of Lima was established in 1831. An army tank plant was built in the year 1941. In the first year of government in 1831, the city built its first courthouse in Allen County, which is still in operation even today. In 1832, the first school was built. In 1834, the first surgeon came to the city. His name was Dr. William McHenry. The first newspaper was introduced in 1836, after which the city was organized officially in 1842. In 1854, the first train was introduced, which became an economic success to the area. In 1885, a businessman dug for natural gas, but found oil instead. This triggered the oil industry in the city of Lima, although, it didn’t make huge profits until later years.
Title Loan Laws
The state of Ohio’s laws for title loans are governed by the Mortgage Lending Act Law and the Ohio Revised Code. The law states that there is a 25 percent limit on interest rate as it relates to Ohio title loans. Lenders must exercise discretionary lending by providing full disclosure of all fees and interest rate associated with the loan.
The title loan process is simple and easy. For that reason, borrowers find that they can tap into the available financial resources in a much quicker time frame than is offered by a conventional lender. You, too can experience, the speed and simplicity of a title loan.
Like the simplicity of the process, the requirements are also simple and minimal. You have to be at least 18 years of age to apply. You have to have a stable income as well and more importantly, you have to fully own the vehicle that you intend to use as collateral.
The vehicle’s value is going to be the deciding factor to how much you receive as you loan amount. The lender uses Kelley Blue Book to assess the value, after which a percentage is calculated to determine the title loan quote, and the loan amount. Most lenders will calculate the value by multiplying it by 25 to 50 percent.
Now, the next step is your responsibility. Go ahead and complete your loan application to get the process started. It only takes just a few minutes to do so. Do it now! Within 24 hours, you could be walking away with the finances necessary to fix your money worries.