Our Offers | Huntsville, AL | Eagle Title Loans | (334) 319-8871

Eagle Title Loans

Eagle Title Loans is a free service that helps link people who need a loan with good lenders. They have a quick and easy process to vehicle appraisal process; you can get the financial assistance you need even quicker. This service offers a range of title loan repayment options, allowing borrowers to choose a plan that aligns with their financial situation. Plus, they're known for their competitive title loan interest rates, so you don't have to worry about losing your money. This service is definitely for someone in a desperate time of need.

Quick Cash | Huntsville, AL | Eagle Title Loans | (334) 319-8871

This service is completely free, without a credit check, and offers loan options even for people with a bad credit history. A very important step is vehicle ownership verification. This step helps protect borrowers and lenders, ensuring that only legitimate vehicle owners can access their services. It's important to note that failure to repay a title loan can have serious consequences, including the possibility of losing the vehicle used as collateral. Understanding these title loan default consequences is essential for borrowers considering this type of financing. Let's explore Title loan repayment options in more detail, shedding light on the importance of responsible borrowing.

What are Car Title Loans?

If you're in a tight spot and need some quick cash, one way to get it is with a car title loan. With this type of loan, your vehicle's title acts as collateral against the money you borrow. The loans are short-term, which means you'll have to repay them quickly, but they can get you money when you need it most.

Collateral-Based Loans

Car title loans are considered secured loans since they use your vehicle as collateral. This allows the lender to take possession of your car if you fail to pay off the loan. When you take out a car loan, you can still drive your car, but it remains with the mortgagor.

Quick Cash Access

A highlight of these loans is how quickly you can get access to cash. In many cases, it's possible for funds to be deposited into your account on the same day that you apply for the loan. This makes them good for times of emergencies.

No Credit Check Required

When applying for a traditional bank loan, they typically pull your credit and look at your history. Car title loans don't do that. Instead, their main focus is on the value and condition of your vehicle when determining if you're eligible.

Title Loan Eligibility Criteria

There are a few eligibility criteria that must be met to qualify for a car title loan:

Ownership of a Vehicle

When using your car as collateral, it must be fully paid off and not pledged to any other loans or debts you might have. You can't use your car as collateral for a car title loan if you have any outstanding loans or debt on it. Your debt must be paid off, and the car must be under your complete ownership.

Proof of Identity and Residency

To get a car loan, you'll need to prove that you are who you say you are and you live where you say you live. You can do this by showing documents that hold your identity and where you currently reside. One way is by providing your driver's license and a utility bill. A driver's license is a powerful document as it serves two purposes: proving that you are a licensed driver and proving who exactly has the right to be driving the vehicle. As for utility bills, they're pretty straightforward. They ensure the lenders that the address given is indeed where you live.

Vehicle Inspection

Lenders will check out your car thoroughly before deciding on how much money they should give you. Typically, what happens here is that the total amount given will be around 50-60% worth of what lenders think your car's current market value is.

Ability to Repay

While a credit check isn't required here, you will need to show lenders that you can pay back the money. This may involve providing proof of employment or income. This can come in a few different ways, such as a stable job or business or something else that brings in money. What they really want is documents like bank statements or paychecks.

Application Process

You have two ways to apply for a car title loan: online or in person. If you're looking to apply in person, just find a lending office near you. But if you'd rather do everything online, searching “auto title loans near me” should provide lenders who offer this service.

Vehicle Equity Loans

Online title loans are also referred to as vehicle equity loans. They get this name since they use whatever equity you have in your car. Equity is the number that represents how much more of a value your car has over the amount of money still owed on it.

How to Borrow Money with Vehicle Title?

This process, often referred to as a title pawn, allows you to get fast cash using vehicle title as collateral. Here's a simple guide on how to go about it:

Understand Title Pawn Services

Title pawn services are businesses that specialize in offering secured loans with car titles as collateral. They can provide a quick solution when you're in need of money urgently.

Gather Necessary Documents

To start, you'll typically need to collect some important documents.

  • Your vehicle's clear title. Ensure you own the car completely and no outstanding loans are on it.
  • Proof of identity. You'll have to have a government-issued ID, like a driver's license.
  • Proof of residency. Give us a document that shows your current address, something like a utility bill.

Visit a Title Pawn Service

Looking for secured loans? You have two primary options. The internet and local directories. The first of the two is the internet. Use a search engine or a specialized website that tracks organizations that provide secured loans, such as Eagle Title Loans.

Get Your Vehicle Assessed

During your visit, the service will assess and evaluate your vehicle. Based on their findings, they will determine how much money they are willing to lend you. Before a loan is given out, an appraisal is done. This process is used to understand the value of your car. The higher the value, the more money you can receive. Remember that no matter what, you can only borrow a piece of what it's worth.

Complete the Loan Application

Fill out the application they provide. You should expect questions about your income, how you plan to pay back the loan, and your employment status. The document is an application that gathers personal information such as your name, address, and contact details. They might also throw in questions about how much you make to guarantee that you'll be able to pay off what they give you.

Review Loan Terms

Read all the terms of the loan very carefully. This includes everything from the interest rate to even the payment schedule and, yes, even additional fees. Also, pay close attention to any additional fees that may be associated with it. They can include costs such as fees or insurance. Make sure you understand what you will be paying extra for.

Hand Over Your Vehicle Title

We'll need proof of your car's registration to get the loan approved. It's a simple document that just shows us that you have the rights to the vehicle. If you take out a loan for your car, the certificate will be used as security. If we end up making an agreement and it's not paid back in time, then the lender can take away your car.

Receive Your Cash

Once all necessary files are complete and the loan gets approved, which usually doesn't take long, they'll give you what you need in cash. This could even happen on the same day.

Repay the Loan

Make sure you clearly understand the terms for paying back your loan, or else you'll lose your car. The amount borrowed has to be repaid by the deadline, and that date will be agreed upon with the lender. The time you have to pay back the loan is called a repayment period. And trust me, this won't be long at all. It can go on for several months or years, so it depends on how much you borrowed and what kind of terms you're under.

Retrieve Your Vehicle Title

Your vehicle registration certificate will be returned once you pay your balance, interest included. That means as soon as you successfully pay back everything you owe, including the interest that it comes with. Your car title is going to come right back to you.

© 2021 hibu,Inc.  All Rights Reserved |