Title Loans in Maryville, Tennessee: Borrow Where You Live
A title loan is a sure bet for anyone who owns a car free and clear. A title loan is a secured loan where a vehicle is posted as collateral for the loan. The lender issues a loan against the value of the vehicle and takes a lien against the vehicle to secure the loan. When the loan is paid back, the lender releases the lien and returns the title to the borrower. Because a title loan is 100% secured by the lender’s lien, these loans are given freely regardless of credit. The borrower must show that he or she has income that can be used to pay the loan back, but the income may come from a job, a retirement account, unemployment insurance, or even some form of public assistance. The lender does not rely on any credit history and probably will not even check the borrower’s credit. So long as the borrower posts free and clear title and has the ability to pay the loan back, the borrower qualifies for the loan. Instant approval will probably be offered and a title loan can normally be completed and paid out within an hour. Title loans Maryville work this way, too
Loans with Platinum Lending
Platinum Lending, Ltd does business online. Platinum is a loan company that offers title loans in 24 states, including Tennessee. In the county seat of Maryville, title loans are readily available. Platinum specializes in offering a cash loan against car. Title loans Maryville and title loans in Knoxville are available for cars, motorcycles, and commercial vehicles, including semi trucks. Simply point your mouse at APPLY and click on the vehicle of your choice. Complete the simple form with year, make, model, and mileage of your vehicle and get a free title loan estimate for the loan that is available to you. Auto title loans online are super convenient.
How Much Can I Borrow?
Most title loans are for around 75% of the value of the vehicle. A free and clear car worth $4,000 may qualify a borrower for up $3,000 in title loans Maryville. The vehicle remains in the borrower’s possession and he or she continues to use it while paying back the loan. The great benefit of the title loan is that anyone with income and a free car title can qualify. Credit standing is not considered. Payments are reasonable and manageable and the lender will probably work with a borrower who is unable to make a payment in order to hold the loan open until the borrower is able to pay again. Loan policies with title loan lenders are much more flexible than with any bank. In fact, most borrowers simply renew their loans and maintain a working relationship with the lender. This is certainly true with title loans Maryville.
What’s the Interest Rate
Interest rates charged for title loans are generally a bit higher than interest rates charged by banks. This is due in part to a higher risk of default on these loans, but it is also in consideration of the great convenience offered. Platinum Lending offers loan services seven days per week. Platinum Lending also offers a complete library of informative articles on title loans. Title lenders are generally regulated by state banking laws. Laws vary state by state. Most laws concern maximum interest rates that can be charged for title loans as well as the process for repossession in the event of a default. Title lenders in Tennessee are licensed by the state. Tennessee law limits title loans to a maximum of $2,500. The initial term is 30 days, but loans may be renewed in 30-day increments. Effective interest rates are limited to 2% per month.
A Title Loan is a Sure Thing
A title loan is a ready remedy when a person runs short of cash. There is no qualifying except for vehicle title and ability to repay. Title loans are granted online and funding can be made within an hour. When it comes to consumer lending, title loans are among the most appealing forms available. Borrow $100, $200, $500 or more, keep your car, and recover your title when the loan is repaid. The title loan is a can’t miss proposition.