Are you in need of money to take care of some urgent financial issues? Or, do you just want some extra cash on hand to pay for expenses as they come up? If so, title loans in Charlotte may be your best bet. If you own a paid off car, you may want to consider an online title loan as the best solution to get cash in North Carolina. These secured loans are a great way for someone with bad credit to get cash as the lender cares more about your vehicle’s value versus your credit history.
Consider What’s Required For A Title Loan in Charlotte Or Raleigh
Companies that offer title loans in Charlotte or Raleigh will require you to have a clear title to the car, so if it is being held by a lien holder you may not qualify. You have to physically have possession of the car title and be able to hand it over to the lender in Charlotte or Raleigh. You must also be at least 18 years of age and possess valid proof of income. If you are retired or on disability, this title loan will still work for you as well. Some companies will also require you to have two forms of identification such as a driver’s license and social security card. By asking for this information they want to make sure you are who you say you are while also verifying the title information with the N.C. Division of Motor Vehicles.
Do I need To Meet With A Lender In Person Or Can The Loan Be Done Online?
Any type of title loan in Charlotte you qualify for does not always require face-to-face meetings. This title loan option is available to nearly everyone regardless of where they live. Some title lenders may even offer title loans if you don’t reside in Charlotte or Raleigh, but instead are just visiting North Carolina. Keep in mind you will still need to submit to some kind of vehicle inspection or verification and funding can be delayed if you apply for a title loan on Sunday or on a holiday. Any title loan company will make it a part of their contract to visually inspect the car to make sure it’s worth the required amount and also to check for damage.
If you still want to apply for online title loans and think this might be the best option for your situation, then go ahead and apply with Car Title Loan Lenders, if you feel that’s the best course of action for your financial needs. You can submit a title loan request from their website and find out if you qualify without being required to provide any personal information that isn’t already public.
What Kind Of Rates And Terms To Expect With A Charlotte, NC Title Loan?
A title loan in Charlotte is a short-term loan and as such the finance charges and APR will be higher than other options like a bank loan or installment loan. This is not an ideal option for someone who needs a small sum of money and has good credit. Rates will vary based on your individual lender and underwriting conditions but generally, title loan rates are high.
If you need to borrow title loan amounts between $700 and $7,500 the interest rate will be between 80% and can go as high as 300% APR with some title loan companies based in Charlotte or Raleigh. If your title loan amount is over $7,500 the interest rate will fall even more due to the increased collateral on larger loans.
Most lenders that fund online title loans no store visit don’t always require credit checks. So auto title loans are suitable for people who have bad credit, bankruptcy, or haven’t established any history with traditional personal loan lenders.
What Else Do I Need To Know About Title Loans in North Carolina
The entire title loan industry in North Carolina is regulated by the state and title lenders must follow certain rules set forth by the North Carolina Consumer Finance Act. As of 2021 most types of actual title loans are essentially illegal in the state but you can still look for other secured and unsecured financing options to get cash. These available offers that we don’t recommend include tribal loans and offers from unlicensed offshore companies. The majority of title loan providers in Charlotte will offer a loan term of 30 days or less and title lenders may require you to return with your car to sign additional paperwork if they need to release the lien on your vehicle for other purposes.