Title Loans in Moore, OK
When you need access to fast cash, applying for Oklahoma City title loans through Platinum Lending may be a great solution to consider. If you have paid off your previous car loan, you may have substantial equity in your car. Tapping into this equity by taking out a loan against car title is an excellent way to resolve your cash shortage issue.
When you learn more about title loans in Moore, you may decide that applying for this type of loan is the right option to pursue.
What Is a Moore Car Title Loan?
Title loans in Moore through Platinum Lending use the equity in your car as collateral. You may be able to qualify for hundreds or even thousands of dollars in loan money through your car’s equity. This is money that you could use for a wide range of beneficial purposes.
For example, you can use it to get caught up on your outstanding bills, to make necessary repairs to the car or to your house and more. With this substantial amount of money, there is a good chance that your current money issues will be resolved.
What Is the Difference Between a Car Title Loan and Other Loans?
Before you apply for title loans in Moore, it is important to understand the difference between these loans and other financing options available to you. If you are comparing them to a payday loan, you should be aware that car title loans also have a short term. However, payday loans are usually unsecured, and title loans are secured by your car’s equity. This means that you may qualify for a higher loan amount through a title loan.
In addition, because the car is used as collateral, credit score requirements are very lenient. Even those with bad credit scores may qualify for a title loan. You may also be comparing title loans against traditional car loans. Traditional car loans are long-term debt, and it may take you several years to pay off this type of loan. A title loan, on the other hand, is a short-term loan. You may easily be able to pay this loan off in 30 days or less.
What Does the Law Saw About Car Title Loans?
You may be wondering if car title loans are legal and what the law says about them. As you might imagine, there are established rules regarding lending guidelines for car title loans in Oklahoma. For example, there is a maximum loan amount in place for this type of loan.
In addition, the loan must be repaid within 12 to 45 days. The maximum interest rate that can be charged is 30 percent. At Platinum Lending, we comply with all legal requirements for Oklahoma title loans.
How Can You Apply for Title Loans in Moore?
Now that you are more aware of what title loans are, you may be ready to fill out a loan application. Through Platinum Lending, you can complete a simplified and easy online loan application in a matter of minutes. After submitting this application, we will provide you with a quote for title loans in Moore free of charge.
You can use this quote to determine if a car loan is right for you. If you decide to proceed with your loan request, it will immediately be processed so that you can access the money you need.
Car loans are an ideal financial solution for those who have equity in their car and who have an immediate need for cash. You can learn more about title loans today, and you can apply online as a first step.