Car Title Loans in Madison, Wisconsin
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Car Title Loans in Madison, Wisconsin
If you reside in the Madison, Wisconsin area and are in need of some quick money, you’re in luck! Madison residents can get an auto loan from Loan Center, who will work with you to ensure you receive the funds you want as soon as possible.
In case you’re not aware of title loans, these are loans that utilize your automobile’s title as security. And, because there is collateral involved, you don’t require excellent credit or even any credit in order to qualify.
So, no matter what your credit history looks like, a Madison title loan can be an ideal choice for you to get funds right away!
Easy Qualification Process
You’ll be pleased to learn that qualifying for a title loan is actually not as difficult as you might fear! The eligibility requirements are actually pretty easy to meet.
We ask that you be an adult, which means at least 18 years of age. We also mandate that you own your vehicle in full and have no liens on the vehicle. If there have been liens formerly, we may ask you to show proof that the liens have been cleared. You will also need a reliable source of income, such as a full-time or part-time job, to show that you can pay back the loan.
Typically, if you can meet these simple requirements, you can get a title loan! As long as there is equity or worth left in your vehicle—and there is in most vehicles—chances are that we can work with you!
Keep On Truckin’ (or Driving)
Unfortunately, a lot of people are really misled about title loans. One of the most common misunderstandings floating around, for example, is that getting a title loan means signing ownership of your vehicle over to the title loan lender.
Thankfully for you and for borrowers everywhere, that’s not how they work! Instead of signing over your actual vehicle, you just use the vehicle title as collateral.
Once the loan has been paid in full, the car title reverts back to you. Even better yet, you get to keep and continue to drive your car throughout the course of the loan. In fact, it never has to leave your stewardship.
When you hear rumors like these about title loans, don’t believe the hype. Trust LoanCenter and the agreement you sign to tell you the real truth about title loans.
Quick and Easy Financing
Once you get approved for a title loan, it’s very fast and easy to get your funds. In fact, many of our borrowers actually get their loan funds on the very same day that they get approved for them. We understand that many of our borrowers are in a hurry, so we don’t waste time when it comes to getting you your money.
Plus, we’re proud to say that we’re a much faster option than other types of lenders. With bank lenders or other more standard lenders, for example, you can expect a difficult application process, followed by a long waiting period to decide if you’re qualified. If you’re not, then you’ve used up a lot of time for nothing. And, if you are, you can expect to wait longer for your loan amount to be credited to your account and then even longer for the money to clear.
Most people who are trying to borrow money don’t have that kind of time to wait. If you need financing instantly, a title loan is the way to go, even if you can obtain another kind of loan.
No Credit Concerns
While bank loans and other more standard forms of lending require you to have a great credit score, that’s not the case with title loans. We do ask to see your credit, but it’s not the main determining factor in whether or not you get a loan. In fact, the main reason we look at your credit is to try and come up with the best interest rate and loan terms to meet your specific needs and situation.
Since our loans are based on collateral, we don’t require you to have amazing credit the way that other lenders do. Conversely, we just look mainly at the equity within your vehicle. So, the more your car is worth, the more funds you can typically borrow. This fact allows you to have a great amount of control over the loan process.
If you have a few vehicles, for example, and you know you want to borrow a larger amount, you could offer up the newest or most expensive vehicle title as collateral. On the other hand, if you just need to borrow a little, an older vehicle will be sufficient as well.
Of course, with that said, you are never required to borrow the full amount for which you are eligible. You can borrow less than you are offered in most cases, which gives you the ability to better control your loan and to make smart decisions from a financial standpoint.
Title Loan Questions and Answers
What kind of money can I expect with a vehicle loan?
It is based on how much your car is worth.
How soon will I receive my loan money?
Typically, you will obtain your loan funds on the very same day that you apply.
How are you allowed to spend the loan?
Your loan money is yours to allocate as you want. Spend it on bills or on a major purchase. It’s up to you!