Showing posts with label Columbus Title Loans. Show all posts
Showing posts with label Columbus Title Loans. Show all posts

Monday, February 9, 2015

What You Should Know About Columbus Car Title Loans?

Some people may wonder: Are Columbus car title loans available, are there advantages to car title loans, and  how does a person get one? Yes, car title loans in Columbus are available and simple to get. Since a title loan is a loan given to a person based on the equity and value of his or her car, the loans can be for as little as a few hundred dollars to as much as several thousand dollars. While there are some basic requirements, most Columbus car title loan companies work with the individual to help them get the most out of their loan. The nice thing is, that with few exceptions, almost everyone qualifies.

There are many different reasons a person may need a loan. It could be because of an unplanned event or emergency. Perhaps they lost their job or had unexpected doctor bills. Maybe they need the money to pay for a home repair. Or it could be that they have just over-spent and need to cover the everyday costs of living. Whatever the reason, when people need money, they often choose a title loan over a conventional bank loan. Here's why: Getting a title loan is often more convenient than getting a conventional loan. The process for getting car title loans in Columbus is generally the same no matter which company a person uses. First, a person applies either online, over the phone, or in person. Then, a specialist meets with the applicant to complete the application and verify details. After the loan is completed, the applicant receives his or her check. Often this process is completed the same day the person applies for the loan. Compared to conventional loans, the process is simple and quick.

Another advantage is that a person does not need to prove credit worthiness when applying for Columbus car title loans. When applying for a loan at a bank, most people must prove they have good credit. If a person has bad credit or no credit, the bank will most likely deny the loan. At title loan companies, they generally do not do a credit check. Even if a person is unemployed, he or she may still qualify for a loan.  Of course, they will need to show that they will be able to make the required payments, but his or her acceptance does not hinge on the fact that they are employed or whether or not their credit score is above 700. On the other hand, most title loan companies do report to the leading credit agencies. What this means is that a person trying to build his or her credit can so so by taking out a title loan.  Understandably, he or she must be responsible and make the payments on time to benefit in this way. Otherwise he or she may end up damaging their credit even further.

Lastly, when a person gets a car title loan, he or she has the freedom to use the money for whatever it is they want. They don't have to explain why they need the money or what they are going to use it for. Maybe it's for a vacation or to pay off other bills. It doesn't matter; no questions asked.  

So the next time you need some money, do as thousands of other Columbus residents have done, consider a title loan. You may find that it's just what you need, when you need it.

Getting Your Title Back When You Pay Off Car Title Loans in Columbus

Columbus car title loans are a great way to get the cash you need in a hurry, and these short-term loans use your car's title as security to obtain the loan, regardless of your credit history. They're really one of the few options available to consumers with bad credit.

Of course, you probably have a big question on your mind: how do I get my title back once I've applied for and receive car title loans in Columbus, Ohio? Fortunately, it's usually a very easy process that's done automatically, for the most part, once your loan is paid off. Generally, your title lender will report your loan is paid off and the lien will be removed from there. Here are the basic steps to follow to get your title back.

1. Make payments
The terms and conditions will vary with car title loans. Columbus lenders do have one thing in common, however: to get your title back, you'll need to make on-time payments on your loan and pay it off completely. Do your best to make payments early, and try to pay off the loan early by making extra payments whenever you have extra cash. This can save you money because most lenders won't charge you prepayment fees and they'll reduce your interest charges if you pay the loan earlier than planned.

2. Talk to your lender
It's a good idea to speak with your lender because they all have their own policies about their car title loans. Columbus has a few dozens lenders, and the process will vary, so ask your provider what will happen when you pay off your loan. This will help you understand what you can do to speed up the process of regaining full title.

Your title lender will usually notify the Department of Motor Vehicles and provide them with paperwork proving you have paid off the loan to get the lien removed. Don't worry if this takes some time, because the lender will first make sure your payment clears and then take time to prepare the necessary documents. You may be mailed your title once the department is notified of the final payment, but it may be necessary to visit in person to receive your new title.

3. Get proof from your lender
A reputable provider of Columbus car title loans will give you proof that your loan has been repaid, which includes important details like the final payoff date and a history of your payments. Keep this stored safely because you will need it if you run into issues getting a clear title.

4. Stop by the DMV
You may want to call the DMV to ask about the progress of updating your title and having the lien removed. They should verify when they receive documents after you've paid off the car title loans in Columbus, and give you an idea of how long the whole process will take.

5. Check your title
Don't forget to look over your title once you receive it. Make sure everything is complete and correct, and contact the issuing agency if you notice any issues so they can be corrected immediately. This will avoid any problems down the road, such as getting tags or selling your car.

The bottom line is most providers of Columbus car title loans will do this process for you and give you help to get your title back, but you should ask them ahead of time what to expect so you're better prepared.