Title Loans in Highland Park, IL from Loan Cheetah

Perhaps you're coming up short with cash for Ravinia Festival, or you're worried about covering bills and the cost of summer camp for the kids. If you have short-term issues with cash flow, car title loans can be a great way to bridge the gap between paychecks and give you the peace of mind you need.

With a car title loan, you use the title to your car as collateral, giving the paper copy of the title to the lender in exchange for a loan. How much your loan will be worth is calculated based on the value of your car. You still get to keep driving your car while you're repaying the title loan; whether you're driving to work in Chicago or just need to run errands at Sunset Foods, you'll still have the wheels to get there - and more cash in your pocket.

How to Apply for Title Loans Highland Park

Applying for title loans in Highland Park is so easy that you can even do it online! All you need to do is enter the year, make, model, style and mileage of your vehicle. Loan Cheetah will estimate the value of the car and contact you with a quote for a title loan and help you decide on a payment plan that works for you. If you agree to the terms, all you need to do is bring your car and its title to the lender. After the paperwork has been signed, you'll be able to drive off with the money you need.

Title Loan Laws in Highland Park

Auto title loan requirements are based on existing Illinois state law and are designed to protect both you and the lender. If you're applying for title loans in Chicago, Highland Park or the North Shore, the lender must meet certain requirements as per state law:

• Loans cannot be more than $4,000.
• A loan may not be granted if repayments would amount to more than 50 percent of the applicant's income.
• All payments must be made in equal installments; no "balloon payments" that increase over time are allowed.
• The lender must provide the loan applicant with information about debt management and repayment.
• Lenders cannot repossess a vehicle with the intent of leasing it back to the loan applicant.

Benefits of Title Loans Highland Park

Car title loans are a good option for anyone who wants cash fast, but doesn't want to rely on a bank loan with high interest rates or use a credit card and possibly affect their credit score. A car title loan is a secured form of borrowing as it relies on an asset - in this instance, a vehicle - to provide the value of the loan. If you have no credit or your score isn't the best, you can still get a loan by using the value of your car as collateral.

You can even apply for car title loans online through Loan Cheetah. Get in touch today for a loan quote. Don't let worries about money drag you down - talk to a representative about unlocking the cash flow in your car!