5 Things That Will Change The Way You Look At Title Loans Online
October 29, 2021 | Daniel Dewitt
For some people who needed urgent help with a financial emergency, turning to title loans online provided them with the financial aid they needed in a timely manner. This is thanks to the accessibility, flexibility, and quickness of title loans online.
However, first-time borrowers might be intimidated when considering getting a title loan. It’s undeniable that there are many misconceptions circling title loans online, often warping their impressions about this type of financial aid.
If you’ve never interacted with title loans, your research into them led you here, you will find the following 5 things very informative and may change how you perceive title loans online.
5 Truths About Wisconsin Auto Title Loans
1. Both Financially Secure And Insecure People Turn To Title Loans
You may think of title loans as a “secondary” choice for people who’ve been denied loans by traditional banks and credit unions due to being in financially shaky situations or having low credit scores.
In reality, financially secure people turn to title loans just as often as people who aren’t in a secure position. The reason for this is that title loans are quick and simple, so they are a great way to avoid complicated bureaucracy associated with banks along with their long wait period. Or if they don’t wish for the loan to be reflected on their credit report since title loans aren’t reported to credit agencies.
2. Title Loans Online Are Actually Strictly Regulated
Another wrong impression some people have about title loans online is that they aren’t regulated, and lenders are free to do what they wish.
In reality, title loans are regulated – and quite strictly. You cannot qualify unless you’re over 18 and have a valid state-issued document proving it. You cannot use a car title that has any outstanding loans or judgments against it. Nor can you use it if it’s in another person’s name – even with their permission.
Unless you’re of legal age and outright own your car, no permitted lender or title loan place can qualify you for an online title loan.
3. Wisconsin Auto Title Loans Welcomes All People
Wisconsin Auto Title Loans, Inc. welcomes all clients from all income and credit backgrounds and provides each client with the service they need on a case-by-case basis. This means that you can get approved even if your credit is bad or if your income situation is complicated.
But we also provide services to just as many clients with great credit scores and stable employment who choose our services due to the streamlined process and quick access to cash.
4. Paying Off Title Loans Is Straightforward
Title loans are no different than other loans when it comes to repayment. You will have to make regular payments towards them the same way you would for other loans.
And same as with other loans, the repayment plan for your title loan will be determined based on your individual case. There’s no one set plan all clients have to follow. The loan representatives determine the plan of each loan separately.
5. Title Loans Are Largely Used As An Emergency Option
People don’t get title loans because they want to go shopping and spend cash on luxuries. For the absolute majority, title loans are an emergency option for unplanned large expenses they cannot cover out of pocket.
Think unplanned medical expenses, car and/or house repairs, a need for professional assistance (locksmith/electrician/plumber/etc.), unplanned move, especially from one state to another, overdue bills, etc.
A lot of people – even with stable jobs who don’t live paycheck to paycheck – are often unable to keep up with large emergency expenses, which is when they may consider acquiring title loans online. The choice is often due to a desire to avoid complicated bureaucracy and get the needed cash together quicker.
How To Get Title Loans Online
All it takes to get started is submitting a filled-out inquiry form for online title loans Wisconsin. It’ll digitally send your information to your closest store, and as soon as the form is processed, a loan representative will give you a call.
The loan representative will provide the necessary information about the process, answer any questions you may have, and arrange a meeting with our associate for you.
You’ll need to have your car along with its lien-free title in your name, as well as your state-issued ID (or driver’s license) when you attend the meeting with the associate. You can meet either at the store or at a location of your choice. They will review your documents and inspect your vehicle to make sure that you qualify for the loan and determine the sum you qualify for.
If you are approved, you’ll finish the final paperwork with their help – and receive the loan on the same day or the following business day.
Start Your Process Today
There are several misconceptions about title loans out there, but these 5 things should cover most of those that matter and give you a clearer understanding.
If you need quick cash, you can start your process for Wisconsin title loans online in only a few minutes by submitting the form above. With our streamlined process, the in-person process usually takes under an hour, and you could get up to $15,000 by the end of the day or the following business day.