With Max Cash Title Loans assisting, residents of the Beloit area can secure funds quickly and easily. 1 2 If you require some fast cash, a car title loan may be just the thing to help you out. Start the process now by filling out a short online application or by giving us a call at 855-561-5626. To learn more about how Max Cash Title Loans operates in the greater Beloit area, continue reading below!
What is an Auto Title Loan?
A title loan is a secured loan with a lien on your vehicle’s title. To determine eligibility and loan amount the lender will consider a few things. The amount the lender will help you receive is based on the overall value of your vehicle and your ability to repay the loan.
Even if you have a bad credit score or none at all, it is not impossible to get approved for an auto title loan! Unlike personal loans, auto title loans are based upon the monetary worth of your vehicle, so credit isn’t everything. 4 5
Auto title loans are short-term installment loans, which means that payment terms can be longer than say, cash advances, or payday loans.
A lien is added onto the title of your vehicle which means that the lender will hold onto the title of your vehicle. You still keep your vehicle to use daily, as you normally would, while you pay back the loan. Once your auto title loan is paid, the vehicle’s title is yours again
What Do I Need to Acquire an Auto Title Loan in Beloit, Wisconsin?
- Government Issued Form of Photo ID (e.g. Driver’s License)
- Proof of Income
- Proof of Residence
- Car Title (with your name on it)
- Current Insurance Forms for Vehicle
- Several Pictures of Vehicle (all 4 sides including VIN and odometer)
- A Few References (not related to you)
What are the Payments Like for Auto Title Loans in Beloit, Wisconsin?
When working with the lenders at Max Cash Title Loans you may be eligible for low payments. 2 4 With some loans, the payments can lower every month with every on-time payment. 4 This can make your last payment 50% less than where it began! 4 There is no hard credit check until the end of the process. Upon approval, you will enjoy low payments and competitive interest rates. 4
What is the Process to Receive an Auto Title Loan in Beloit, Wisconsin?
Start the process by filling out a brief inquiry form, and you will know almost instantly if you are pr-approved. You will then be asked to provide your documentation. Once your documents have been accepted it’s time to get your money! 1 2
The first thing that will happen upon your approval is that your lender will ask you to sign a loan agreement with them. They will also verify the condition of your odometer and vehicle overall. When the underwriter contacts you, you will be given a quote, the number will be the maximum amount they will give you. 1 2
There is no obligation to take the full amount, it is recommended to take only what you need and are confident you can payback. Monthly payments are determined by the amount, the principal, and the duration you request. 4
How do Lenders Value Vehicles for Title Loans?
Each lender uses a different program to assess the value of your vehicle. Some use Kelly Blue Book, Black Book, or their software to determine value. The goal is to determine the vehicle’s current auction value.
What lenders do not take into consideration is the vehicle’s sentimental value to you, if you have deemed the vehicle to be a “classic” when it has not been determined as so and any aftermarket products that may harm the value.
The lender will consider the make, model, mileage, year, trim package and extras that may have been added after the purchase of the vehicle. Knowing your vehicle’s VIN can make it easier for the lender to get an accurate value of your vehicle.
To find your vehicle’s VIN look at:
- The inside of your driver’s door
- On the driver’s side window
- The dashboard
- Your car title, or
- Your insurance card
Max Cash Title Loans wants to help you with a loan that has great interest rates and low monthly payments! 2 4 At Max Cash Title Loans, we want to help you get cash fast. 1 2 Call us at 855-561-5626 or begin an online car title loan application!
Disclaimer: Max Cash Title Loans services this area but this map does not represent an actual location