Title Loans Franklin, Tennessee
Banks may be able to offer you a loan, but the process is lengthy and many requirements must be met before you get approved. On the other hand, we will be able to offer you a faster way to get the money you need. One of the fastest way to get emergency cash is by getting a title loan in Franklin. These loans can amount up to $2,500, and all you have to do is use your vehicle title as a security for the loan. By the time you pay off the money you owe, you will get your title sent back to you. Our title loan lenders can guarantee you the best rates when compared to other loan companies. To inquire more information about Tennessee title loans, apply with us today!
Taking out a Title Loan
The process is made easy by allowing you to apply by phone or online. We have loan operators standing by, 7 days a week, to help you in the entire process. Moreover, our website is also mobile-friendly which means that you can fill out an application with ease on your own mobile phone. All you need to do is provide information about your vehicle’s make, year, model, mileage and style. With this submission, our highly-skilled loan operators will be able to give you a free title loan estimate over the phone. They can also assist you with through the entire process, and inform you of other steps you need to take to get closer to the loan. Most lenders will require you to visit a physical site to complete the transaction, so our operators can find the nearest title loan store in Franklin!
Gathering Additional Documents
Your loan operator may have informed you of some additional documents you will need to bring with you to the title loan site:
- Photo ID (Passport, State ID, Driver’s License)
- Proof of income (Recent pay stubs and/or bank statements)
- Vehicle title, obtained at:
The vehicle under the title must also be present at the time that you sign the contract. The only purpose of this is so the title loan lender can inspect the condition of your vehicle and adjust your loan based on that. Damages and previous auto collisions your car has been involved in can decrease the principal loan estimate you were given. Other than that, you are free to use your car even after you get the loan. The lender will only hold onto the vehicle title and will not need an extra copy of your keys.
Title Loan Laws
Title 45, Chapter 15 of the Tennessee Code has more information regarding the operations of title loan lenders and title loan terms. One of the insights it provides is loan renewal. Title loans have a 30 day maturity date, and are typically paid off within or before that time frame. However, you as a borrower has the right to renew this loan if you are unable to pay it off in those 30 days. You can only renew the loan for an additional 30 days after the maturity date. There are several caveats to this agreement.
Failure to repay all of the loan during the time frame, or after renewal date, will get your vehicle repossessed. You will be notified by the lender when they intend to repossess the car, and when they sell the vehicle to pay the loan off.