title loan companies are cropping up all over the state, with many of them offering fast funding with minimal paperwork online. It can be tempting to go with the first one you find but it’s important to do your research and make sure you’re getting the best deal. Rates, terms, and fees can vary significantly from company to company so it’s important to compare a few of the largest title loan lenders in Michigan before making a decision.
An https://rksloans.com/title-loans-or/ easy way to start your search is by looking for title loans in Michigan near me. This will give you a list of local companies that you can contact directly. You can also apply for title loans online with some lenders licensed to provide cash loans in MI, which is a good option if you don’t live near any retail offices. Just be sure to read the terms of your lending contract before you sign off on any paperwork and loan agreement.
Can I Keep Driving My Car When I Get A Title Loan
Yes, you can keep driving your car with a title loan in Michigan. The reason for this is because it probably wouldn’t work out well for anyone if instead of putting up your car title as collateral you had to give up your vehicle! How would you get to work and be able to pay bills? The vast majority of title loan providers in Detroit understand this scenario and they simply hold the car title as security while you make the monthly payments. Once you have completely paid off the loan you can get the vehicle title back and move forward
Contact Car Title Loans 123 to find out more about title loan options in Michigan. We can help you to get started with an online application or walk you through any questions you have!
*Interest of 36 percent per year plus the current Federal Funds Rate. Title loans have Annual Percentage Rates that start at 3% a month. Title Loan approval is based on and subject to the applicant satisfying the credit requirements in place by title lenders. Some lenders may require appropriate collateral such as the vehicle’s pink slip.
The specific lending amount, payoff term, and APR of a title loan that the applicant qualifies for will vary based on each unique situation. Any type of personal loan should be intended for financial emergencies or to meet real-time personal or business needs. The minimum amount offered with a title loan online is currently $2,501. All applicants will need to show an ability to make on-time monthly payments and ultimately pay back the loan. Borrowers are urged to make extra or early payments as a way to pay off a title loan early and avoid extra interest rate charges.
Just because you don’t live in Detroit doesn’t mean you can’t access cash with a title loan
If you’re not sure whether or not your car will qualify for title loans in Detroit, be sure to reach out to a local lender ahead of time. They’ll be able to let you know if you have a good chance of being approved and what to bring with you when you go in for the appointment. Do you live in Michigan’s Upper Peninsula? That could be a good thing as there’s no shortage of direct lenders offering cash loans for your car title online. The same goes for those looking for title loans in Ann Arbor or Lansing, MI. Start by applying with an online lender and see how much money you vehicle qualifies for.