Need fast cash but aren’t sure where to begin? Title loans in Butte-Silver Bow could be the perfect option for emergency cash. If you are unsure about what title loans are about, or where to start on your search? Below you will find out more about title loans in Butte-Silver Bow.
Title Loans Basics in Butte-Silver Bow
Title loans are a type of secured lending, that works by using the borrower’s vehicle as collateral. Many people seek out these loans for emergency expenses, and don’t have good credit history, or don’t have enough time to wait for things like grant programs/exemptions, or help from your local government When the loan is taken out, the lender will add a lien to the car’s title. This will give the lender temporary ownership of the vehicle. Once the loan is paid back in full, the lender will remove themselves from the car’s title, and the vehicle will be transferred back to the borrower.
And so, as you can see title loans are pretty simple in terms of the process. All the transfers related to the car’s title can be done at your local DMV.
What Will Lenders Look at with the Loan Application In Butte, Montana?
When determining eligibility, title loan lenders will look at a few factors:
- The value of your vehicle— the value of your vehicle will be an important factor when determining loan approval. The loan amount will also be a percentage of your vehicle’s value (which can be determined by the make, model, year, mileage, and condition).
- Your income— your income will be looked at from all sources.
- Your ability to repay the loan— your expenses, debts, etc. will all be factored in to determine your ability to repay the car title loan.
When you are ready to apply for an auto title loan, it will be helpful to have the following documents:
- A State-issued photo ID (a driver’s license, passport, etc.)
- Proof of income (pay stubs, bank statements, letters of income, etc.)
- Several pictures of the vehicle
- Proof of residency (utility bills/billing statements, bank statements, mails)
- The vehicle title
- Car insurance information
- 3 references
What are Some Advantages of Title Loans Over Other Subprime Lending?
When looking for title loans in the state of Montana, you may come across other types of subprime lending.
One of the common types is payday loans. Payday loans make it easy for those with bad credit to get funding. And although they can be a fast and easy option for some cash, they come with extremely high-interest rates and tons of additional fees. Not to mention they have to be repaid in a few weeks. In general, these loans could be made available through private lenders.
Another option that homeowners may consider are home equity loans. Home equity loans are a loan program that uses the borrower’s real estate in order to secure funding. Although these loans make it possible to get funds with bad credit, your home will be at risk with these loans. Home equity loans can be available through credit unions, banks, or private lenders.
On the other hand, title loans can come with flexible repayment that can be manageable, and with the right lender, you don’t have to worry about extremely high-interest rates (compared to other subprime loans).
Why Work with Max Cash Title Loans in Butte-Silver Bow County?
When looking for title loans in Butte-Silver Bow, Anaconda, Great Falls, Headwaters, Helena, or anywhere else in Montana, start with the experts at Max Cash Title Loans. Instead of being a lender ourselves, we make it easy to connect with vetted title loan lenders. Here are some of the benefits that can come with the lenders that we work with, and our connection process:
- Low monthly payments — the monthly payments for the title loans from our network are kept low, and so are affordable for many budgets.4
- Highly competitive interest rates— worried about high-interest rates? When working with the lenders that we work with, you can rest assured that the interest rates are highly competitive.4
- A fast and easy process — because we do all the search work, and processing work, and can even provide technical assistance, the entire process is made simple. Additionally, we can save you tons of time!
- Flexibility with repayment— not sure whether you need a short-term loan or a long-term loan? The lenders that we work with may be able to provide those terms.4
- No hidden fees— there are never any hidden fees with repayment for your loan. This is a huge advantage with these loans and not something that others may offer.3
- No prepayment penalties— you can pay your loan as early as you like without any fees or penalties.3
- Fast funds once approved— once approved for a title loan, the funds could be made available in as little as a business day.1 2 5 Have the funds sent to a bank account, mailed to you as a check, or picked up at a local MoneyGram.
- Use the funds for all kinds of expenses— title loan funds can be used for all kinds of expenses, such as healthcare, new business expenses, car repair, home repair, funeral expenses, and emergency travel, just to mention a few.
These are just a few kinds of benefits that can come with the lenders that we work with! To learn more, reach out to us!
If you are ready to start, simply head to our website and apply for an online car title loan or give us a call at (855) 561-5626. Once approved for a title loan, the funds can be made available in as little as 24 hours.1 2 5
Disclaimer: Max Cash Title Loans services this area but this map does not represent an actual location