What if I told you there’s a way to get same day cash and you don’t need good credit or even a recent credit history to be approved? The fact is, that many people in Michigan are turning to title loan companies as a way to borrow large amounts of money without going through the hassles of a typical credit check.
Yes, car title loans have their drawbacks and risks as you’re using a vehicle as security to borrow money. But you can get money within 24 hours or less, and you can pay back the full amount at any time to avoid the high APR and finance charges. Title loans in Michigan can be viable option for people who don’t have anywhere else to turn, so let’s get into the requirements and break down everything else you need to know!
What Do Online Title Loan Lenders In Michigan Require For A Same Day Approval
The title to your car or truck is the primary collateral for these types of loans and that’s why they’re able to give you such a large amount of money, up to $20,000 in some cases. The title loan underwriting process is pretty simple as well. You bring in your vehicle and the title and complete some basic paperwork. A quick inspection is done on the spot to determine the value of your vehicle and then you’re given a loan amount based on that value.
In Michigan, most title loan companies will require you to be at least 18 years old and have a steady source of employment with enough income to make the expected payments. You don’t need perfect credit or any credit history to be approved! Other requirements may include proof that you have valid insurance and registration on the vehicle. This means the car is covered with full coverage if there’s ever an accident and you have up-to-date tags from the Michigan DMV.
Auto Title Loans In Detroit – How To Get Them & Where To Apply
Applying online with Car Title Loan Lenders USA is a quick and easy way to get cash in Detroit. We are not bound to any specific lending agreements or companies in Detroit, and we can help you choose from multiple funding options and financing amounts. We can help you get the process started from the comfort of your own home and you don’t even have to leave to get cash!
You can start by filling out our short and easy online form which takes less than 5 minutes. Once you submit it, we’ll quickly connect you with a title loan agent in your area. They’ll call you to discuss your options and answer any questions you may have before setting up a time for you to come in and sign your loan agreement.
We try to make the process as fast and easy as possible so you can get the money you need right away! In most cases,
For those who want to apply directly with a finance lender in Detroit, that’s not an issue. Some companies will allow you to fill out the paperwork at their office and you can even wrap up the vehicle inspection at the same time. That’s a huge time saving compared to personal loan companies in Michigan that take days to underwrite your file.
Online Title Loans For Borrowers Throughout The State Of Michigan
We all know other parts of the state besides Detroit, and for those in Ann Arbor, Grand Rapids, or any other city, we’ve got you covered! Don’t worry about driving hours just to find a lender! We offer online title loans in Ann Arbor and you can qualify for same day cash with just a car title! The amount of money available with a secured loan is determined by the value of your car, and you can get started by filling out our short online form. Anyone looking for a pre-qualification can get a lending estimate in about 15 minutes. The only information needed is your car’s current condition and value, personal details, and a quick confirmation of how much cash you’re looking for!
For those in Grand Rapids, vehicle title loans are also an option, and we work with companies that can give you up to $20,000, depending on the value of your vehicle! The process is the same as well; just fill out our quick online form to start.
Interest Rates And Fees For Michigan Title Loans
When getting a title loan in Michigan, knowing how much it will cost you in interest and fees is important. The state of Michigan does not currently regulate title loan rates but most companies will typically charge an APR that approaches 75% each year on the outstanding balance of the loan. This may seem like a high rate, but when compared to other short-term options like payday loans, title loans are actually quite reasonable and you always can pay off the loan at any time without a pre-payment penalty.
Another thing to remember is that title loans in Detroit are typically only for a few months so the total amount of interest you’ll pay will be lower than if you had taken out a personal loan with a longer repayment term. Only borrow an amount that’s affordable for your
budget and pay back extra each month if that’s possible.
Payment Options For Car Title Loans In Michigan
Michigan title loan companies offer a great alternative for people who need cash fast but don’t want to go through the hassle of a traditional loan. You can use your car title as collateral to get a loan and in most cases, the money can be wired straight to your checking or savings account within 24 hours or less! So if you’re facing an unexpected expense or just need some extra cash, find out how much cash is available with your car’s equity! Apply directly online or call in and contact us today. Applicants in Detroit can meet directly with a lender at any location throughout the city!