Title Loans Delaware
Many of us need a quick solution for our financial crisis, and most banks or traditional lenders often make us wait for an approval. For the best deal on a personal loan, get a title loan in Delaware. There are multiple title loan lenders across the state willing to negotiate with you all for your vehicle title. A benefit of getting an online title loan is that there is no minimum credit requirement to apply or get approved. Similarly, if you do not have any credit, you will still be allowed the opportunity for a title loan. On the other hand, some title loan lenders may not even need to do a credit check at all. Unlike other financial institutions, title loan lenders do not discriminate against any individuals credit, occupation or income level. Don’t wait and apply for a title loan today!
How Title Loans Work in Delaware
Vehicle titles are used to secure the loan you receive from one of our lenders. Titles are often granted to people who are the unquestioned legal owners of their vehicles, which means that the car is fully paid off and in your name. If you have purchased the vehicle from a private seller, you may need to acquire the title from them if it has not already occurred. Since your title is the only thing used in this asset-based lending, you will still be able to drive the vehicle with the loan you received! To get your vehicle title, there are several title services available in Delaware, you may also choose to visit the local Department of Motor Vehicles in your area.
How to Apply for a Title Loan in Delaware
Applying for a title loan is made with you in mind. We understand that convenience may be your number one priority, and that is why we provide you with a free online application on our site! For as little as your vehicle information regarding the make, model, year, style, and mileage we will give you a free loan estimate. Your loan estimates are based on that information alone, prior to application, you may use sites such as Kelley Blue Book and NADA to get an estimate on how much your car is worth. The value of the vehicle is taken in consideration and adjusted to state guidelines put in place for title loans. You may get up to $10,000 for your vehicle title in the state of Delaware! In addition, even if you have submitted an application, you are not obligated to follow through with getting a loan. Our highly-trained customer service representatives will be able to assist you with any additional concerns, and may even locate the title loan lender operating in your area. They will forward all information to that title loan lender, so you do not have to worry about filling out any more applications at the site. The information you provide will not be sold or given to any other parties and will only be used by our lenders during the contract.
Delaware Title Loan Requirements
You must be 18 years old or older in Delaware to apply for a title loan. You must provide the title loan lender with a valid government-issued photo ID (Passport, Driver’s License, State ID) at the time of transaction. In addition, you must provide your title which has to be clear and lien-free. Liens are usually placed on titles if there is money still owed or if that vehicle was previously used for an unpaid title loan. You will need to bring the vehicle with you at the title loan site closest to you for further inspection. Your initial loan quote may be adjusted depending on the history of your vehicle. Any damages or accidents your car has been involved in may affect the loan you were given. Some title loan lenders may need proof of insurance before approving your loan amount, depending on how much you get.
Refinancing a Title Loan in Delaware
If you have previously entered a title loan contract and are unable to pay it off, you may choose to refinance with one of our title loan lenders. Refinancing makes it easier to pay off the remainder of the loan, and in most cases, the title loan lender may offer to pay off the loan for you in exchange for getting a more customized loan!
Customer’s Rights and Responsibilities
Just like any other loan, you are solely responsible for paying off the loan. The title loan lender must operate fairly and transparently and will provide you with full disclosures regarding the title loan. Before you sign, make sure that the title loan lender thoroughly explains to you and outlines the terms of the contract. They must inform you that title loans are typically used as a temporary fix to financial crisis, any consequences to delinquent payments, your right to rescind and a way to file a complaint with the Office of the State Bank Commissioner if you suspect your title loan lender treating you unfairly or taking advantage of your situation. With these types of loans, you are allowed prepayment. If you pay off your loan early before the maturity date, you will receive your title back. If you have received a loan from a lender and wish to rescind, you are able to do so within 24 hours or the next business day. You may ask your title loan lender about their policies on rescission.
Title Loan Renewals
Some title loan lenders may allow you to renew the loan if you are unable to pay it off by the maturity date. Depending on the lender, you may extend the repayment period for up to 180 days.
Vehicle Repossession
Any missed or late payments are automatically subject to vehicle repossession. However, most title loan lenders may be more lenient if you communicate the issue with them. If your vehicle is repossessed, the title loan lender may notify you that they will sell the vehicle. Any profit made from this sale will go towards your loan. If there is an excess in cash, you will receive the remainder back. On the other hand, if there is a deficiency, you will need to pay the difference.
