Title Loans Farragut, Tennessee
If you’ve ever been in a financial jam and needed cash quick, you know how stressful that situation can be. If you have family or friends to borrow from, great. If not, you may feel as if you don’t have many options. A traditional bank loan sure doesn’t feel like one, but you actually do have an option in the form of auto title loans in Farragut, which you have access to as long as you:
- Are at least 18 years old
- Have a title for a car or truck you own
Consider that Greenbank on Concord generally requires personal loans to be at least $5,000, and both loans and lines of credit can require extensive application processes. Pinnacle National Bank on Brooklawn Street, on the other hand, usually wants the term to be at least three to six months. With an automotive title loan, you can borrow small amounts, such as $100, over a short period, such as a week, and most of these loans process in under 10 minutes. The applications are short and sweet and don’t require the kind of scrutiny that a traditional bank loan does.
Title Loans Farragut: Getting Your Car Title Loan Online
There’s more good news. You can apply online and even complete the entire process all from the comfort of your own home. To get started with a website like Loan Cheetah you’ll require:
- Personal information, such as your name and zip code
- Contact information, such as a cell number and email address
- Vehicle information, such as make, model, year and mileage
Go to the site, enter the information and submit the form. Loan Cheetah will provide you with an estimate for an auto title loan online within just seconds. Soon, you’ll be contacted by a loan representative who can answer your questions, discuss your options, such as flex loans, and help you complete the process all the way to the point where you get cash in hand.
Legal Regulations in Tennessee
Title loans in Knoxville and throughout Tennessee are governed by a series of laws in order to protect your rights as a consumer. Title loans in Farragut are capped at $2,500 and have an initial maximum period of 30 days, but if both the lender and the borrower agree, the term can be extended for additional 30-day periods whenever a payment is made for at least 5 percent of the original amount. All lenders must be licensed with the state, and the state requires that:
- Lenders not sell insurance
- Effective Interest rates be no more than 2 percent a month
- Fees and surcharges be limited to 20 percent of the borrowed amount
Advantages of Car Title Loans
Title loans in Farragut provide many advantages over traditional bank loans, such as processing within minutes and providing flexibility in terms of amount and term. Title loans in Farragut also provide advantages over other short-term loan options, such as payday loans, in that overall cost is lower and there are less requirements. Auto title loans don’t require proof of income, which means you can be employed, and these loans don’t require credit and background checks, which means that you can have no credit, bad credit or even a bankruptcy on your record.
