Delaware is a relatively small state when it comes to both population and size, but it ranks high in the number of car title loan companies with offices throughout the state. That means you have multiple funding options and can compare different rates and terms among many different title loan providers in Delaware. Apply for a title loan online or go with a local company that offers auto title loans in person. Whichever route you choose, it should be quick and easy to get a car title loan in Delaware as long as you have a car title and proof of income.
Vehicle title loans in Delaware are easily accessible, even if you’re short on cash, due to the quick approval process and minimal requirements. The most important requirement for a title loan is always going to be a car title which shows ownership of a vehicle that’s paid off. Newer cars with fewer miles can bring more cash with a secured title loan but ultimately, you need to be the sole owner of the car and there can’t be any other liens or loans that are in place which could call into question your ownership. Other requirements can include, proof of income and employment (pay stubs work fine) and you can also provide documents showing money coming in through sources other than full time employment. These can include social security income as well as Delaware state disability payments or proof of unemployment. Really all a lender wants to see is that you have money coming in each month and have the ability to make the payments each month.
Title loan limits in Delaware depend on what type of car you own and the worth of that car. The average title loan in DE will come in at around $1,000 but some lenders will allow you to borrow more than that if your car is worth more. Interest rates can be just as variable because they’re not controlled by any regulations at the federal level. This means there’s no limit to how high auto title interest rates can go and it largely depends on the lender and whether or not you qualify for any discounts or special offers. You should always ask about these when first applying and be sure to get multiple title loan quotes. That way you can compare the APR among different lenders to get the best deal.
Delaware title loans are open to people that have bad credit, but there are things you need to know about this before getting the money. First of all, you’re not going to get a good interest rate with bad credit and this means your auto title loan will be more expensive in the long run. Title lenders usually won’t want anything to do with car title loans for people with past due payments on their record or any accounts in collections at all. A history of having your car repossessed is something they may look down upon because it tells them that you’ve had trouble keeping up with payments in the past which is a sign that you might have trouble doing so again.
To recap, most finance companies in Delaware will offer bad credit title loans and some won’t even check your credit, but the interest rates and APR will be high as these lenders know you have few options for emergency cash. Besides that, they are taking on a good amount of risk by offering a loan to someone with a spotty credit history. Your car title acts as collateral in a situation where you fall behind on the payments, but that’s something that both parties want to avoid as a lender would prefer you keep making the payments on time each month.
Neighborhood lenders and those that offer online car title loans with no store visit can be found all throughout Delaware. You’ll see these companies in shopping centers and on the main streets in towns like Wilmington and Dover as well as other cities throughout the state. They let you apply online too, which is handy if you want to get a quick loan quote without having to call anyone up. Typically they use an online application that is short but still requires some basic information about your vehicle and banking situation.
Whatever way you choose to apply for a secured loan, you can’t go wrong with Car Title Loans 123. We take applications for title loans online in Delaware and we can also help those looking for local loan companies in Wilmington. It takes less than one hour for pre-approval and most who qualify can have their cash in about one business day!