Secure Your Financial Future with Auto Equity Loans in Columbus, IN
While it’s true that the cost of living in Columbus, Indiana, is 10% lower than the national average, life can still throw unexpected financial curveballs your way. Whether it’s a sudden medical expense, a car repair, or the desire to seize exciting opportunities in this vibrant city, having access to quick and flexible financing can make all the difference.
If you are ever in need of quick cash, remember that you can use the title of your vehicle to obtain a quick loan.
A car title loan is a short-term loan that lets you borrow money even if you have poor credit. If you are wondering how much cash you can get, it depends on your car’s value and your ability to repay the loan. However, you can get up to $500 on the same business day while keep driving your vehicle.
Online Title Loans Fees and Interest Rates
State legislators regulate online title loans in Indiana. They have capped the maximum loan amount, interest rates, and finance fees (mentioned below):
| Interest Rate | Up to 36% |
| Loan Amount | $500 |
| Finance Fees | 30% |
| Loan Duration | 14 Days |
Disclaimer: The information provided in the table above is for reference purposes only. As the terms of title loans are subject to change, it is advisable to consult a specialist.
What Documents Are Required to Get a Car Title Loan?
When you need money urgently, title loans can come in handy since they allow you to keep driving your vehicle and you may get approved with a bad credit. Also, you won’t have to deal with a lot of paperwork; just provide the documents mentioned below, and you are good to go:
- A Clear Car Title
- Proof of Residency
- Proof of Income
- Proof of Residency
- Vehicle Registration and Insurance
How Can I Apply?
For a hassle-free and quick process, you should apply for title loans online. Below are three easy steps loan application process:
Step-1 Apply Online
Begin your application by filling out an online application form. The form generally requires information including your name, address, phone number, email, and information about your car.
Step-2 Get Approved
After submitting your application, the lender will review your information and check the value of your vehicle using various factors, such as the Kelly Blue Book value. If everything checks out, the lender will contact you to discuss the terms of the loan and provide you with a pre-approval letter stating the amount you are eligible to borrow.
Step-3 Receive Funds
Once you have agreed to the loan terms, the lender will finalize the loan documents, and you will receive the funds according to the payment method you have chosen. This can be through a check, direct deposit, or in some cases, cash.
Can I Get a Title Loan with a Low FICO Score?
Yes, it is possible to get a title loan with a low FICO score, as title loans are typically secured by the value of your vehicle rather than your credit score.
Most lenders in Columbus, Indiana, just need you to provide proof of your monthly income, and your car must have enough equity in it. If you fulfill these two basic conditions, you probably can get a title loan even with a bad credit score.
Do I Need To Bring My Vehicle for In-person Inspection?
No, you do not necessarily need to bring your vehicle for an in-person inspection. The process for obtaining a title loan typically does not require you to physically present your vehicle at the lender’s location. Instead, the lender may request certain documentation and information from you to assess the value and condition of your vehicle.
To facilitate this evaluation without an in-person inspection, you can provide the lender with detailed photographs of your vehicle. These pictures should ideally cover your vehicle from various angles, showcasing its exterior and interior.
It’s also helpful to include a clear image of the odometer reading and the Vehicle Identification Number (VIN) to verify the vehicle’s mileage and identity.
What Can Funding From a Title Loan Be Used for?
You can use the money from a title loan for lots of different things. Here are some common ways people in Columbus, Indiana, use it:
Emergency Bills
If something unexpected comes up, like a medical bill or a car repair, a title loan can help cover the cost.
Combining Debts
If you owe money on credit cards or other loans, you can use the title loan money to pay them off and have just one payment to worry about.
Paying Bills
If you’re having trouble paying your regular bills, like electricity or water, a title loan can help you catch up.
School Expenses
You can use the money to pay for school fees, books, or supplies.
Business Costs
If you have a small business, you can use the loan for things like buying inventory or keeping your business running.
Travel or Fun
Some people use the money to go on a trip or have a good time.
Home Improvements
You can use it to fix up your home or make it better.
Personal Stuff
It’s your money, so you can use it for anything personal, like buying something you’ve been wanting or celebrating special occasions.
Some Basic Information About Columbus, Indiana
| Total Population | 51,268 |
| Households | 20,717 |
| Persons Per Households | 2.41 |
| Median household Income | $72,380 |
| Per Capita Income | $37,517 |
Source: The Census Bureau
Frequently Asked Questions
Do Lenders Charge Anything to See if I Qualify for the Loan?
No, lenders don’t charge any fees when you apply for a loan or when they check the value of your vehicle. Even if you decide not to go ahead with the loan, there won’t be any fees. It’s usually free to find out if you qualify for the loan.
Does the Title Have to be in My Name?
Yes, the car’s title must have your name on it since it will serve as collateral for a title loan. If you co-own the vehicle with someone, the phrasing (‘and’ or ‘or’) on the title determines whether approval from both owners is required.
Can I Get a Title Loan While Still Paying on My Car?
Typically, you need a car with a clear title to get a title loan. But sometimes, if you have just a few payments left on your existing car loan, you can use the title loan funds to pay off the balance and then get the title loan. One easy way to find out if your car qualifies and has enough equity for a title loan is to apply online. It free and
Apply for a Title Loan in Columbus, Indiana Today!
Looking for some quick cash? Apply for a title loan using Montana Capital Car Title Loans online application form and experience a fast and hassle-free process. We go the extra mile to make sure you get the funds you need in no time.
Visit us and apply today!