Title Loans Glenview, Illinois from Loan Cheetah
Unexpected bills can throw a wrench into anyone's budget, and it can be easy to feel panic if you have to choose between paying your property taxes in Glenview or repairing the furnace that just blew out right before winter.
Temporary financial difficulties can quickly become larger problems that affect multiple aspects of your life, and a title loan can be a great way to cover unexpected expenses without damaging your credit rating with a payday advance. Simply put, you use the title to your car as a type of secured loan, handing over the physical copy of the title so that a lien can be put on your vehicle. Once the loan is repaid, the company gives your car title back to you.
Regulation of Title Loans Glenview, IL
As of 2009, title loans in Illinois are subject to specific regulations to protect both the lender and the borrower. The maximum value of a title loan cannot exceed $4,000, and no loan can be granted if the repayments would exceed 50 percent of the borrower's income. Ballooning repayments are also not allowed under state regulations. This means that when you take out a title loan, you will repay a fixed amount according to a fixed schedule.
Benefits of Title Loans Glenview
If you choose to get a title loan online in Glenview, you'll get several benefits that a traditional loan won't give you:
- You can still use your car - When you are approved for a title loan in Glenview, you won't need to hand over your car. You simply need to provide the loan company with the title to the vehicle. You can keep using your car as you normally do.
- No credit checks - Unlike bank loans or payday advances, title loans don't require a credit check.
- Clear repayment schedules - When you take a title loan, your repayment plan will be explained to you right away. As the car's equity is linked to the value of the loan, you will know exactly what you need to repay and when.
- Cheaper than payday advances - Payday advances can come with stiff interest rates, which can make a bad financial situation worse. With car title loans, your vehicle is used as collateral, and is considered a secure loan. This keeps interest rates low and saves you money.
- Instant access to funds - Once your car title loan is approved, you will typically receive the funds in a matter of minutes. If you're in a tight spot financially, time is of the essence, and having the money in your account as soon as possible can be incredibly reassuring.
How to Get a Title Loan Quote
Getting a quote for title loans in Evanston and Glenview can help through a tight financial spot. You simply need to visit our website and provide us your personal contact information and a few details about your vehicle:
- Year - By supplying the year the car was built, we can calculate its value, which will affect the value of the loan.
- Make - Some makes of cars will have a higher market value than others, and this can influence the amount you receive.
- Mileage - A low-mileage car can qualify for larger loans than one with a larger amount of miles.
Once that's done, one of our representatives will contact you as soon as possible to provide you with a title loan quote for the value of your vehicle and let you know what your options are. You can then make an appointment to start the process of getting a title loan in Glenview.