Title Loans in Lawton, OK
It’s not uncommon today to need some extra money. You might find you need extra funds between paydays or you could need some financial help to pay unexpected bills. Whatever the case may be, we can help. When you apply for title loans in Lawton with our friendly staff at Platinum Lending, you can take advantage of a number of benefits. If you have not applied for a title loan before now, it’s only natural to be curious about how such loans work.
A loan against car offers the ability to apply for a short-term loan using your vehicle as security. Since we accept the title to your vehicle as collateral, we do not need to run credit checks. Therefore, you could be approved for the loan you need even if you have bad marks on your credit report. We receive a number of questions about title loans, including how long the process of applying and being approved usually takes.
It is important to note that every applicant is different, but we have found that most people are able to receive a lending decision shortly after completing their application and can have their approved loan funded to their bank account within one day. If you are in a hurry and need cash right away, a title loan can be a convenient option.
What to Know When Applying Online for Lawton Title Loans
There are a few things you should be aware of when applying online for title loans in Lawton. If you are interested in finding a car title loan for unemployed people, we may be able to help. There is a common misconception that you must be employed to be approved for a vehicle title loan. This is not the case. You do not need to have a job to receive an auto title loan. You will need to show that you have a means for paying back your title loan. We are quite flexible with this, however. You could use the following as a way to pay back your loan:
- Social Security
- Workers’ Compensation
In order to determine whether you are eligible for an auto title loan, we need some information, such as the mileage on your vehicle and your vehicle make and model. We will also use this information to calculate an estimated loan amount for you.
Oklahoma Title Loan Regulations
Prior to apply for a title loan, you should understand all of the requirements for such loans, including those imposed by the state of Oklahoma. Only individuals who are at least 18 years of age can legally take out a title loan. Other requirements include having a clear vehicle title and being listed on the title.
What Is a Clear Vehicle Title?
Vehicle titles are sometimes confused with vehicle registration. The two are not the same. In order to legally transfer ownership, you must have a title to the vehicle. If you owe any type of loan on your vehicle, there is likely a lien against the title. This means you do not have a clear title and would not be able to use your vehicle as collateral for a title loan.
If you are unsure as to whether you have any liens against the title and it is not clear from looking at the title whether there are any liens, you may contact the Department of Motor Vehicles to inquire as to whether there are any liens against that vehicle. Be aware that you will need a physical copy of your vehicle title. If you do not possess the title, you will need to file for a duplicate title.