How to Get Cash Loans on Car Titles in Missouri
If you need money in Missouri, you might be pondering a loan. Did you know you can get cash loans on car titles? Most likely, you haven't. They aren't widely talked about in the consumer world, but they are useful if you own your car outright.
Throughout this article, we will look at how you can acquire one, the benefits of obtaining it, and everything in between.
What Is a Cash Car Title Loan?
A vehicle title loan is a short-term financing solution that allows you to borrow a set sum of money based on the value of your vehicle (motorcycle, truck, or car). This loan type is fantastic for those of you who have poor credit scores and/or need to receive money quickly to pay for medical bills or other unexpected expenses.
How Cash Loans on Car Titles Work
Anyone who is over the age of 18 and owns their car outright can be approved for a car title loan. The lender can then give the car owner a lump sum depending on the value. Generally speaking, this figure won't go above 25% of the car's total value.
You won't be required to hand over your car while you're paying off the loan (contrary to popular belief). Instead, getting cash loans on car titles will mean that you hand the title over your title to the lender for the duration of the repayment terms, but you can continue to use the vehicle.
How to Get Cash Loans on Car Titles in Missouri
Thankfully, the process of acquiring cash loans on your car title in the state of Missouri is straightforward. The entire procedure should be complete within as little as half an hour. Following the step-by-step guide below is the easiest way to go about it.
- Head to this web page, MissouriTitleLoansInc.com.
- Click on the store that is closest to you from the location page.
- Complete the online title loan application form online.
- Wait for a loan specialist to get in touch. If you have any questions, it's best to ask them at this stage. This way, you won't have any surprises as the process moves forward.
- Head to the location you chose in step two. Don't forget to bring your vehicle, your lien-free vehicle title, and your driver's license.
- Wait while the loan specialist appraises your vehicle and evaluates your paperwork.
- If the loan specialist gives you approval, you will receive your money on the same day.
Now that you know exactly how to get cash loans on car titles in Missouri, you should take a moment to look at the benefits. Making fully informed decisions with your money should be your top priority.
The Benefits of Missouri Title Loans
Firstly, you will be able to borrow up to $15,000. When it comes to financial emergencies, they are rarely affordable. Whether it's medical bills, unexpected yet necessary travel costs, or fixing a huge leak in your roof, everything seems to be expensive.
Therefore, borrowing a large sum of money can help fix the issue. Just bear in mind that this is reliant on the value of your car being relatively high.
Secondly, you don't need to have a great credit score to gain approval for cash loans on car titles. In fact, your score can be terrible or non-existent and you can still apply. Title loans have been designed to include the masses. While a few credit checks may be conducted, we don't hold them in as high regard as traditional banks do.
Thirdly, you are able to keep your car while you are repaying the loan. It seems to be an urban myth that people come and take your car away simply because you've taken out a title loan. You'll be pleased to know that this isn't the case at all.
Finally, you don't need to complete extensive paperwork. Traditional bank loans require you to fill out various forms and provide countless documents to prove who you are and how much you earn. None of this is necessary with car title loans in Missouri.
What to Use Your Title Loan For
Our customers have used their title loans for many things. However, we always recommend saving them for emergencies. In our professional opinion, title loans are best when they are used in one or more of the following circumstances:
- Paying for unexpected medical bills
- When you need to pay for urgent home repairs to stop damp or flooding
- Funding urgent but necessary travel
- Paying for unforeseen vehicle repairs
If you have any queries about getting cash loans on car titles before you start the application process, you are more than welcome to get in contact. Either give us a call or email Missouri Title Loans Inc. to find out more about the easy title loan process, our loans, and the requirements. We can't wait to help you receive the funding you need!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.