Title Loans in Huber Heights: A Complete Guide
Stuck in a financial emergency? Is your car fully paid for?
Title loans can help you get your urgent cash TODAY!
From the required papers you will need to a step-by-step guide to the entire loan process, we have everything you need to know about getting car title loans!
Curious? Let’s start with how exactly it works…
What Are Title Loans in Huber Heights Oh, and How Do They Work?
Car title loans work this way:
You start by surrendering your car’s title to your lender as collateral in exchange for being able to borrow money.
All you need to qualify is a fully paid vehicle with a clean title!
Why Should I Get a Title Loan in Huber Heights, OH?
Here are a few reasons to get one…
Fast Cash Loan
Whether you need funds for your business to pay for hospital bills or overdue rent, title loans in Huber Heights, OH, can give you the money you need TODAY.
The entire title loan process takes only one business day from applying to getting approved and receiving your cash!
And if you come prepared with all your complete documents, you can even get approved in less than 1 hour!
You Still Get to Drive Your Car
Your lender will only hold on to your car title as collateral during the loan duration, so you can still use your car as usual.
Your daily routine doesn’t have to be disrupted!
Title loans are known for being QUICK and EASY ways to obtain cash. This makes it the perfect solution to situations that need emergency cash.
And because the entire process is done in a day, loan lenders won’t require tons of paperwork (unlike traditional bank loans) to save time.
Everyone wants to speed up the process, so they save you from the usual hassle and headaches of applying for loans!
What Is the Title Loan Approval Process?
Here’s a step-by-step guide!
Step 1: Look for a Reliable Auto Title Loan Lender in Ohio
There are several auto title loan lenders in Huber Heights, OH, so make sure you choose the best one!
Many of them will offer competitive rates, so here are some factors you should look out for:
- An appealing repayment scheme
- Good customer review
- Favorable loan terms
- Low-interest rates and lender’s fees
Step 2: Receive Instant Pre Approval Online
After deciding on which Ohio car title loan company to go forward with, you can now proceed to their website to apply online.
You’ll see the online application form on the first page. Fill it up and answer the few details it will ask for.
At the latest, you will receive a call from your online title loans lender within a few hours. They will ask a few more questions for additional information and review your documents.
Your car title loans lender will also tell you if you and your vehicle qualify and may also give you a guaranteed offer.
You will also receive the following information:
- The maximum and minimum loan amount
- Their fees
- Their interest rates
- Their title loan terms
Step 3: Gather the Required Documents
After you apply online, you will be asked to submit some documents. We’ve listed all the papers that most car title loan lenders ask for:
- Proof of income. This could be your payslip, proof of your business income, proof of social services benefits, proof of inheritance, a bank statement, or any other document that proves you can repay your title loans on time.
- Proof of residence in Ohio. Bring your lease contract, utility or phone bills, or your mortgage agreement.
- The government issued an ID with a photo of the borrower. Your name here also needs to match the name on your vehicle title.
- Character references. Depending on your car title loans lender, you will be asked for 1 to 4 of these. Make sure to also get their contact numbers, emails, and addresses.
- A clean, lien-free vehicle title that is solely under the name of the borrower.
- Car insurance papers. If your car isn’t insured, your lender can insure it for you!
- Car registration papers. If it’s not up to date, your lender can also lend a hand.
- Photos of your car. Take photos of the back, front, and the 2 sides.
- A copy of your keys. Your lender can duplicate your original keys if you don’t have a copy.
Step 4: Sign Your Contract
If your online title loan lender gives you approval, you will be asked to take your vehicle to their office in Huber Heights, Ohio.
When you get there…
- You will hand over your car’s title and other required documents
- Your online title loan contract will be prepared for you to sign
- They will install a GPS on your car (for easy repossession, if ever)
Step 5: Receive Your Money
You can now get your funds after signing the title loan contract in Huber Heights!
You can receive through any way that is convenient for you, including:
- Online payment
- Money transfer
- Direct deposit to your bank account
- And other common forms of transferring money
Are Payday Loans Different From Title Loans, Huber Heights?
Yes. Both loans are short-term, high-interest loans.
But while the main requirement for a title loan customer is their vehicle, payday loans do not require collateral in exchange for a loan.
And because a title loan will need collateral, a customer can usually borrow a bigger loan value than a payday loan.
Also, unlike title loans’ 30 or 60-day fixed loan period, a payday loan’s due date is adjusted to your payday, hence the name.
It is designed to immediately use that money to pay off your loan when you receive your paycheck.
Will My Title Loan Lender in Huber Heights, Ohio Perform a Credit Check?
But don’t worry! It will hardly affect whether your title application gets approved or not, even if you have a bad credit history.
This is because title loan companies look more at your potential, on your ability to pay off the loan through your income streams, instead of focusing on your past and bad credit history.
So as long as borrowers can prove that they can come up with the money owed by the due date, title loan applications are easily approved.
Will Title Loans in Huber Heights, Ohio Affect My Credit History?
Whether you can pay off your title loans will not affect your credit score.
Frequently Asked Questions
Still have questions about car title loans in Huber Heights, OH? All the answers are here!
How Much Cash Can I Get From Car Title Loans, Huber Heights, Ohio?
You can usually get 25% – 50% of your car’s equity.
How Is My Car’s Equity Determined in Huber Heights, Ohio?
Your car’s estimated market value is measured by its:
- Vehicle condition
Sometimes, the extras on your vehicle are also taken into account.
What Is the Loan Duration of Title Loans, Huber Heights Oh?
The loan period is usually 30 or 60 days depending on your lender.
Towards the end of this loan period, you will receive a notice asking you to complete paying off the entire loan amount: principal, plus the interest and other fees.
Title loans are QUICK and EASY solutions to your cash problems.
You can get approved within a few hours and get your money the same day while still getting to drive your car as usual.
You can apply even with bad credit, but the loan duration is short, so you have to make sure you can repay your debt on time.
Think title loans are for you? Confident that you can pay it back in a matter of 30 days? Then apply today!