Call Us Today (844) 567-5011
Call Us Today (844) 567-5011
Call Us Today (844) 567-5011
Call Us Today (844) 567-5011
Use your vehicle as collateral for a title loan in Cleveland OH!
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What Is My Vehicle Worth In Cleveland?
How Much Cash Can I Get With A Cleveland Title Loan?
A car title loan can be an effective solution for anyone in Cleveland facing a financial emergency. Title loans use your car as equity for the loan, and you can typically borrow $3,000 or more in Ohio without the need to check your credit. Unlike an unsecured personal loan that takes up to a week to underwrite, a car title loan can be processed in one business day. Apply online with Car Title Loans 123 or call 844-567-5011 to see how much you can get for your vehicle's collateral, and we'll get you a funding decision in minutes!
To qualify for a Cleveland title loan, you'll need a vehicle that is paid off or has substantial equity. The title to your car must be in your name, with no current loans or liens attached to it. You need to verify income, and most title loan companies will sign off on your income verification if you show monthly pay stubs or other documents proving your employment.
Applicants must also prove that their vehicle has comprehensive insurance and is properly registered in Ohio. We need to verify your VIN and odometer reading and you can keep driving the car while the lender holds your title.
Interest rates for title loans in Cleveland are typically much higher than traditional loans from banks, credit unions, or installment loan lenders. Lenders consider title loans high-risk, and they're often only possible with a high value vehicle serving as collateral.
Interest rates for a car title loan in Cleveland can be near 100% and sometimes higher if the loan is underwritten without a credit check. The payoff term typically falls between 6 and 18 months and entirely depends on your monthly payment and interest rate. Some customers take out emergency car title loans intending to pay off the loan in 1 or two months, and in that case, you need to find a lender that doesn't charge a pre-payment penalty.
Most car title loan companies in Ohio won't even check your credit score when you first apply online, and most borrowers have FICO scores of 600 or less! Instead of worrying about credit history, a lender mainly wants to know that you have equity in your car or SUV, and there's far less emphasis on your FICO score.
While credit is not an overreaching concern, some lenders will want to know if you've recently dealt with bankruptcies or repossessions. Getting approved could still be possible if you have any of these items listed on your credit report, but the loan amount may be smaller.
Lending terms are based on the value of your car and how long you want to repay the loan. Any vehicle used as collateral for a title loan in Cleveland will need to pass a quick inspection, and after that, you can determine the monthly payment and repayment term. An inspection typically takes place anywhere in Cuyahoga County; sometimes, the lender can send an agent to your house or place of work to inspect the vehicle and review the loan agreement.
Have you ever wondered how much you can save by reducing the interest rate on an existing car title loan? Some equity lenders in Ohio charge interest rates above 100%, making a title loan challenging to pay off. Contact Car Title Loans 123 at 844-567-5011 for a no obligation refinancing quote. We may be able to reduce your APR and get you a repayment term that cuts your current term. We can also help you by connecting you with a local lender in Cleveland who will buy out your title loan. A buyout can be a lifeline for anyone struggling to repay their title loan or facing an imminent repossession! What do you have to lose? Apply for a title loan refinance or buyout with us today!
Use Car Title Loans 123 to apply online, or call 844-567-5011, and we'll connect you with a local lender in Cleveland. There's often no credit check, and you can borrow upwards of $25,000 with just your car as the collateral. Get started with a title loan that's entirely online, and pick up your cash from any company near you that same business day!