Title Loans Manchester, Missouri
What happens when you have more bills than money to pay them? What do you do when an emergency arises and you need money fast but don’t have the cash flow? These situations cause most people to worry, panic and desperately search for a solution. Turning to friends and family for help, trying to pawn anything of value and even going to a bank for a loan are options, but are they the best solution? For people looking for quick and easy cash, a loan for auto title from Loan Cheetah may be a better option.
Auto title loans are exactly what the name implies; a loan given to someone who uses their car or motorcycle title as collateral. Title loans are an alternative to traditional bank or credit union loans. They are short-term, usually granted for 30 days or perhaps a few months. For title loans in Manchester, borrowers can expect a quick process without a credit check. Sometimes called title pawn loans, they have been a financial life raft for many people since they were first offered in early 1990s. Car title loans in Missouri have helped people by getting them the money they need to get out of a financial jam.
Application for Title Loans Manchester, MO
Applying for title loans in Manchester is quick and easy, especially when applying online through Loan Cheetah. The application takes only minutes to complete, and borrowers usually get the money in 24 hours.
To apply, provide the car’s model, make, year, style and mileage. Then, provide the borrower’s name and contact information. Once that’s done, the applicant gets a loan amount quote by text or email and a follow-up call from a loan representative to finalize the details, such as a title loan appraisal. Borrowers do need to have a clear title with no liens to qualify for a loan. Once approved, cash can be picked up at a loan store or deposited directly into the borrower’s bank account.
Legal Title Loan Requirements in Manchester
Auto title loans are legal in Manchester because Missouri is one of only 27 states that allow title loans is some form, as of 2016. In Missouri, borrowers can get up to $5,000. The amount is based on the value of the vehicle used as collateral. Loans are offered for 30 days, but if borrowers are unable to repay the loan at that time, they have the option of extending the loan for another 30 days. Since the state of Missouri does not set interest rates on these short-term loans, interest rates vary. State law does allow up to $75 for up-front loan fees and any other fees the lender and borrower agree upon.
Benefits of Manchester Title Loans
- It’s fast and convenient. There’s no need to go into a loan store, especially if you live in a city without one, such as Manchester. Complete the application online in just minutes. Then, you can have the money direct deposited to your bank. Or, if you prefer face-to-face interaction, you can get title loans in St. Louis by visiting a store location there. Either way, the entire process is usually completed in about a day.
- Your vehicle is your collateral so there is no need for a credit check.
- You can repay the loan quickly or extended it for more time to repay.
- Title loans have lower interest rates than other similar loans, such as cash advances, which makes title loans less expensive.
- You keep the car. You get a loan and give the lender the car’s title. Then, drive away in your vehicle. When you repay the loan, you get the title back.