Title Loans Ogden, Utah
As a rational householder, you always try to set aside some portion of your regular income to deal with unforeseeable events of life. No matter how good you are at managing your expenses, an emergency situation may compel you to look for additional cash.
You may need extra funds for several reasons – covering a sudden medical bill, meeting home repair expenditure, paying your kids’ college fees or buying a gift for your loved one. To cover any of these requirements, you may need instant cash. If you are a resident of Utah’s Ogden city, title loan is the best possible financial solution, which really saves your time and energy in getting quick cash to cover expected and unexpected expenses.
Title Loan: A Fast Way to Get Quick Money!
A title loan is a short-term secured loan, which provides you fast cash by keeping the title of your vehicle as collateral. Since this loan amount primarily depends on the value of your vehicle, hence, it is also called as auto-equity loan. The distinct feature of the Ogden title loan is that it considers all kinds of vehicles, be it; cars, motorcycles, trucks, RVs and SUVs during the approval process.
Another major benefit of car title loan is its ability to offer cash to bad credit people. Unlike other traditional lenders, who take your credit profile into account while deciding a loan amount, the title lenders in Ogden never bother about your financial background. You can easily acquire a vehicle title loan, even if your credit history is discouraging. Other benefits include:
- Attractive repayment options
- Competitive interest rates
- Loan up to $10,000
- Refinancing facility
- Quick approval
What you need to get a Title Loan?
In order to acquire a Utah title loan, you need to fill in the loan application form provided by the lender, submit the required and relevant documents, and allow the lender to evaluate the value of your vehicle. The title loan quote is estimated instantly upon the application. The entire process is completed in an hour. Below are the common documents you need to submit at the time of approval:
- Original title paper of your vehicle
- Current vehicle registration
- Proof of vehicle insurance
- Resident proof certificate
- Income proof certificate
- Age proof certificate
- Valid ID proof
Title Loan Laws Applicable in Ogden, Utah
- Title Lending Registration Act (Utah Code §§ 7 – 24 – 10) – The Act makes it compulsory for a title loan company to hold a valid license to operate in the state.
- The Utah Department of Financial Institutions regulates all kinds of cash loans, including auto title loans. It charters, regulates, supervises and assesses state-chartered financial institutions.
- As per the state law, there is no cap on the interest rate that lenders can charge on title loans.
- Lenders are not allowed to extend cash if the borrower cannot provide proof of their repayment ability.
- The lender cannot roll over the terms of the loan without a request from the borrower.
- A borrower can obtain only one loan per vehicle in Utah.