Title Loans Mequon, WI Fundamentals
Mequon is a friendly and welcoming city in Wisconsin with a population of more than 23,000 people. Founded in the 19th century, settlers lived here for decades before it officially became a city in the 1950s. Many of the buildings in the city are on the National Register of Historic Places and date back to the early founding of the city. As it’s just a 30-minute drive to Milwaukee, many of those who live here commute to jobs in the larger city every day. With title loans Mequon residents just like you can get money to pay for gas and any other expenses they face.
If you’re like most people, you probably have some questions about title loans. A title loan is simple a loan that you take out after putting a vehicle up as collateral. You then have a set period of time to pay off your loan before the lender can take your vehicle. When you borrow with us, we retain your title until we receive your final payment. You can then stop by the same office where you obtained your loan, grab your title and walk right out the door. Though some borrowers use our services just once, others take out loans once or twice a year because they love our convenient repayment terms.
Title Loans Mequon Online
Getting title loans in Milwaukee is as easy as filling out a simple form online and then following up at your local office. We offer a handy auto title loan estimate tool that lets you almost instantly see how much you can borrow. Entering the make and model of your vehicle, its age, mileage and style will show you how much it is worth and how much you can borrow against it. At Platinum Lending, we also offer motorcycle title loans against motorcycles from some of the world’s top manufacturers.
While you can complete many of the steps online, you’ll also need to visit an office in your neighborhood. This gives you the chance to ask any questions on your mind, give one of our representatives any of the required documents and sign your contract. With one visit to Platinum Lending, you can walk out the door with all the cash you need in hand in minutes.
Laws in Wisconsin
Wisconsin is one of a handful of states that allow title loan lenders to work within the state. All lenders doing business with local residents though must agree to follow all the laws relating to lending. One of the most important title loans laws in Wisconsin states that lenders have up to six months to make good on the loans they take out. Another law gives lenders the right to establish their own regulations regarding how much they charge borrowers in interest and miscellaneous fees. You’ll also find that the state places a cap on the amount of a single loan to $25,000 or half the total value of your vehicle.
Advantages of Title Loans
There are literally dozens of advantages to title loans. These loans let you borrow money against any type of vehicle you have in your possession, including a truck, car, SUV or even motorcycle. The lender will base your monthly payments on the amount you borrowed plus any interest charged to help you quickly pay off your loan by the deadline. At Platinum Lending, we get money to most of our borrowers in one single day too. With title loans Mequon borrowers can turn to us and get cash quickly without going through a background check or worrying about their credit scores.
