Title Loans in Fort Wayne
If you’re here, you’re most likely looking for ways to get FAST CASH.
Living in Fort Wayne, Indiana, and have immediate cash needs? Sounds like you need a car title loan!
Car title loans offer same-day processing with little regard for your credit history!
Let us take you through the basics of car title loans in Fort Wayne.
Car Title Loans? What Are They?
Now you may be asking, “What are car title loans?”
Car title loans, also known as auto title loans, are loans where you use your car title as collateral in exchange for the loan.
In other words, the car title loan lenders will partly own your car, and they’ll use that as assurance that you will pay off the loan within the agreed loan period.
“Sounds a lot like a pawn” They are quite similar to a car title loan is sometimes called a title pawn.
However, with a car title loan, you still have driving rights to your car but receive money that you need at the same time.
You only lose your driving rights if you fail to make the monthly payments you discussed with the loan agent.
Also, not all lenders would service student loans, and these loans are intended primarily for personal purposes.
Why You Should Get Car Title Loans Fort Wayne
There are a couple of reasons why title loans are what you need right now as opposed to other
For a resident of Fort Wayne, Indiana, there are many options if you want to avail of a title loan.
Personal and payday loans are great themselves, but title loans have their special way of getting you out of a financial bind.
Here are why you should consider car title loans:
#1 Payment Plan For You
Do you need the money NOW for business-owned expenses? Do you need an emergency loan?
Car title loans can be long-term loans. Title loans are usually short-term cash loans, but you can negotiate with your lender directly to adjust the loan terms.
So you don’t need to fuss too much about when to make your payment.
Got the means to pay earlier than expected?
As mentioned earlier, you can negotiate terms with the lenders. Mold your payment plan following your financial circumstances and when you think you can repay.
With title loans in Fort Wayne, you can rest easy knowing that you can have flexible payment plans.
#2 Fast Cash
Do you need your money for an emergency? Don’t want to line up for personal loan approval?
A title loan is what you need if that’s a yes.
Fort Wayne title loans can be processed in a blink of an eye. It won’t take long until you get final approval.
The funding time can be as fast as having the cash in your hands on the same day!
You no longer need to wait to see if you get the thumbs up. So if you value your time, a title loan may be what you need to apply for.
#3 Credit Checks Are (Mostly) Not a Problem
Getting a bank loan approved would be a bad idea to get approval with bad credit.
However, when getting an auto title loan, a good score isn’t necessary for credit decisions. But it depends.
Certain places that offer title loans in Fort Wayne, Indiana, may check your credit history before signing you up with a loan.
An auto title loan makes it possible for those with poor credit to try to avail of a loan.
BUT, customers that want to get a loan with a bad credit score probably won’t get a good deal.
Those with a better financial history may be eligible to get special benefits or better interest rates than those with a poor financial history.
Title loans are made to be accessible, but that doesn’t mean that you’ll instantly get the green light.
Required Documents for a Car Title Loan in Fort Wayne, Indiana
Documents needed to complete your loan applications vary depending on the state. The requirements could be very different for Fort Wayne, Indiana, compared to Texas.
Even further, what is required by lenders varies based on their specific company policies and rules for their title loans (Fort Wayne).
And so, you should contact your direct lender based in Fort Wayne to ask for assistance.
We’re sure you’ll receive immediate assistance to confirm what documents and requirements are needed to apply online or in person.
Contacting regulatory agencies may also help in getting information about your lender.
And on that note, here are the requirements for the residents of Fort Wayne, Indiana:
1. Valid ID
In Fort Wayne, you have to be at least 18 years old to get an auto title loan.
You need a valid ID to prove you are 18 or up when you decide to get a loan application.
In compliance with that, you should come with a government-issued ID, like a driver’s license, when you come in to apply for title loans in the city and state of Fort Wayne, Indiana.
2. Title for the Vehicle
This is very important in the title loan process, the vehicle title.
You can’t NOT have a title when you apply for title loans in Fort Wayne, Indiana, now can you?
Other than the vehicle title, other vehicle-related paperwork that could be asked from you are insurance papers and vehicle registration.
If they are needed, it may be a good idea to bring them when you apply for a title loan.
3. The Actual Vehicle
Some lenders would want to check the condition of your car and do a simple inspection of it.
The actual loan amount you’ll receive may depend on the current condition, age, and value of your car.
So it would be best if you tried your hardest to make your car look as good as possible before coming in to get a loan application.
4. Proof of Income
You need to demonstrate the ability to make payments to the lender. Of course, a lender would prefer someone who can make good on the payment terms.
A lender may approve a loan without proof of income. However, in its place, you have to demonstrate that you have SOME means to repay by the end of your contract.
Some items you can present that can serve as an alternative to proof of income are:
- Bank statements
- Retirement checks
- Social security
- Disability payments
- Pay stubs
5. Proof of Residence in Fort Wayne
And last but not least on the list of required paperwork: a proof of residence.
You need to present documents that show that you presently reside in Indiana.
In certain states, title loans are illegal, and your lenders need to know if you’re legally entitled to a title loan.
You can prove that you reside in Indiana using the following documents:
- Lease agreement
- Phone bill
- Utility expenses documents
Applying for Title Loans in Fort Wayne: Step-By-Step Guide
Getting title loans in Fort Wayne should be a fairly simple procedure. You need to follow the steps, and you can get your title loans in no time!
But don’t worry; we’ll be with you all the way, guiding you to the proper way to apply in Fort Wayne:
Step 1: Fill Out Your Application
First off, you need to fill out the information they ask you.
Make sure that the information that you provide is true. Submission is express written consent that your information is correct and that you’re not trying to pull any funny business.
Certain lenders may have an option to apply online. If that option is more convenient for you, you should try confirming if they provide that service.
You can talk to your agent about your loan terms in this step.
Here you can ask about the interest rates, annual percentage rate, loan amount, pre-payment penalties, hidden fees, monthly payments, and other things you may be concerned about.
Step 2: Submit Your Requirements
Let’s briefly review the usual requirements a lender in Fort Wayne will ask from you for title loans.
Have the following documents at hand when you apply:
- Identification documents
- Title for the vehicle
- The vehicle itself
- Proof of income
When you finally submit your requirements, you need to wait for your approval.
The loan amounts you are entitled to receive will depend on the value of your vehicle, what you need, and your capacity to repay the loan.
Once you’re done with this step, you can move on to the best part.
Step 3: Getting Hold of Your Cash
This is the part everyone loves: getting the cash!
Once you’ve finished the application and been approved, you can now claim your loan proceeds.
You can use said funds for whatever it is you need. These include:
- Business expenses
- Household purposes
- Other financial assistance purposes
Ensure you can make payments, stick to the terms you discussed, and keep your own interest rates in mind.
Small business loans typically are a good use of your funds. But whatever you decide to use it on, make it count!
How About the Online Title Loans Requirements?
Some lenders can offer online title loan applications.
As long as you have a cell phone and an internet connection, it will be convenient to apply online.
Be sure to check with your specific lenders if they offer online services through their website.
The documents and such that you need to prepare are generally the same:
- Auto Title
- Photos of the vehicle
- Photo of ID: Government-issued IDs like a driver’s license, passport, etc.
- Proof of income: Bank account statements, stubs, etc.
- Proof of residence: Utility expenses, phone bill, house title, etc.
An online title loan is great if you want instant online cash, as some offer a direct deposit on the same day.
In some circumstances faxing certain documents and info will be needed.
It can even be as short as same-day approval. Assuming everything goes well, you’ll have your bank account set without leaving your house and doing it through a website.
Some websites don’t lend money directly, so you should double-check with them.
Frequently Asked Questions (FAQs)
There’s a lot to take note of concerning Fort Wayne title loan applications.
We’ve answered several frequently asked questions for Fort Wayne residents below:
How Long Is the Processing?
It takes a business day for your title loans to be processed in Fort Wayne, Indiana.
You need to go through conditional approval, but it shouldn’t take long. Usually, you don’t need to wait too long for your money.
Processing time also depends on whether you applied in person or online.
How Much Are the Loan Amounts Usually?
With a vehicle title loan in Fort Wayne, Indiana, how much cash you get depends on a few factors.
Once approved, you are assured of a minimum loan amount of $2,500 (usually) for your loan proceeds. Some people can get more depending on their terms.
The actual loan amount, annual percentage rate, and other fees may be more than the minimum loan amounts, but that’s the usual ballpark.
Can I Use a Different Vehicle as Collateral?
There are a variety of vehicles you can use! Some customers have used motorcycles as collateral for their title loans in Fort Wayne, Indiana.
If you have other vehicles in mind, such as boats, trucks, or maybe even planes (yes, that is a thing), you might want to check with your specific lender about providing acceptable property.
You Can Now Get Title Loans Fort Wayne
You can now get short-term financing from title loans (Fort Wayne).
Keep in mind to confirm your lender for their specific requirements, submit those requirements for the title loans, and you’re ready to apply for your loan!
REMEMBER: Title loans in Fort Wayne are some of the easier loans to obtain but be careful of the fees.
The next time you go to your lender, you’ll be well equipped with the information needed to ensure a successful process!