Title Loans in Bartlett, IL
Payday just does not come every day, and every once in a while you're faced with expenses you just can't get rid of without a little help. Some of the most inconvenient things we find ourselves faced with are things breaking down in our homes like leaky pipes or bad furnaces; or we might have those bad illnesses that require a visit to the doctor or maybe your pet needs to see the dentist. Getting emergency cash assistance can be hard at some places like the bank, and borrowing money from family could lead to problems if you don't get them their money back soon enough. But if you own a vehicle that vehicle could be used to get you a loan through vehicle title loans in Bartlett, IL.
Vehicles You Can Use For Title Loans In Bartlett, IL
Many people don't know about vehicle title loans in Bartlett, IL, or they don't understand exactly how they work. What makes these loans relatively easy to get is that owning a vehicle plus having enough monthly income can finance your personal or business needs. What they are based on is a loan-to-value ratio of your vehicle's current selling price to a portion of that which is the equity you can borrow. In many states where vehicle title loans are legal, you can borrow as much money as your vehicle value and the title loan lender allows, but Illinois law caps vehicle title loans at $4,000. The vehicles you can use for title loans include motorcycles, RVs, trucks and regular cars. You'll have to undergo a vehicle inspection first because it needs to be relatively free of defects to get a loan on it.
Other Features That Make Vehicle Title Loans In Bartlett, IL Easy To Use
Vehicle title loans in Bartlett, IL make it possible to keep driving your car and not worry about having to keep it behind closed gates as you use your title loan money. Your title is held so that you can keep driving your vehicle and work to repay your loan, and usually you'll have 30 days to repay it or pay the minimum amount to get an extension. Illinois does have a law that states if you've previously taken out a title loan or payday loan, you must wait 15 days from the date you've paid it off to take out a new title loan. But you usually will be approved for your title loan within minutes since the paperwork needed to signup for a title loan is minimal. There are also no questions in the title loan application asking what you plan to use it for since the funds are yours.
How To Complete The Title Loan Application
With our online Elgin title loans, you can complete the fields with information about your vehicle and your contact details which can speed up the in-store visit. The main thing you need to do first is make sure you have the appropriate documents that you'll need to present when you arrive, and of course bring your vehicle. The following documents are what you'll need:
- A photo ID that proves you are 18 or older and that must be government-issued
- A bank statement, paycheck stub, W2 statement or another record of your income that shows you can repay your title loan
- Your vehicle title issued by the Illinois DMV
Usually the visit only takes about 30 minutes at the store, and you can get your funds shortly after. If you realize you no longer want to be in the agreement, you can return the cash you borrowed by the end of business hours the next day and terminate the agreement.