Title Loans Midvale, Utah
Applying for online title loans has become easier and more secure as their popularity has increased. For those who who in need of cash quickly this can be a real advantage. The key is choosing the right title loan company, and Platinum Lending can meet that need.
Introduction to Title Loans Midvale
If you are in need of money but don’t have the credit qualifications for a traditional loan, your best option is a bad credit loan against car title. You can use the title of your car in order to obtain a loan for the funds you need without your credit being a deterrent. Obtaining title loans Midvale are quite different than selling the car because you are only providing the lender access to the equity in exchange for the funds you need. This arrangement allows you to keep your car and drive home with some additional cash. Once you pay your loan in full the lender will promptly return your title.
How to Apply for Title Loans Midvale
Whether your need is for title loans in West Jordan or in Midvale, the process is still quite simple. The following is the information you will need to obtain your title loan:
* Year make, and mileage of the vehicle
* Your Name, phone number, and zip code
Once you complete the application and submit it, you will receive a car loan estimate after which a loan representative will contact you at a mutually agreeable time.
Regulations Regarding Title Loans in Utah
Platinum Lending and its lenders meet all the necessary requirements to provide title loans Midvale and in the state of Utah. State regulations allow an individual with a clear car title to take a loan against that title. Like all lenders, if the borrower’s default, state law allows them to seize the vehicle and sell it in order to satisfy the loan. However, they must return any monies they collect that are in excess of the loan payoff. Since Utah does not have an interest rate ceiling on title loans, it’s important for borrowers to conduct research in order to obtain the most competitive rate for the amount of money they need.
Benefits of Car Title Loans
For many people, especially those who are not homeowners, the clear title to their cars are the only collateral they have available to use as security for a loan. There are several benefits of these loans for potential borrowers such as:
- Minimal personal information required
- No credit check required
- Funds typically available within 24 hours
- No employment required as long as the borrower can provide proof of income (unemployment, welfare, social security, etc.)
- Competitive interest rates
- Many lenders from which to choose
- Flexible repayment terms with option to renew
With the number of title loan lenders that are available in Midvale and the state of Utah in general, it’s quite simple for potential borrowers to conduct research and choose just the right lender to suit their needs. Lenders even vary on the amount of money they will loan against a title and the age of the car it will consider. Some lenders allow up to $50,000 based on the car’s value while others only allow $5,000-$10,000 no matter what the value of the car might be. The individual lender also controls the repayment term and the interest rate it levies on the loan. Do your homework, and you will be quite happy with your title loan.