Facing Financial Challenges in Columbus, GA?
Located on the banks of the Chattahoochee River, Columbus, Georgia, is a city rich in history, culture, and economy. But even with its many attractions and amenities, life in Columbus can sometimes be unpredictable, and unexpected expenses can arise at any moment.
While loans from banks and credit unions can take forever for approval, things get even more bleak when you have a poor credit history. In such instances, an online title loan can be a handy option.
What is Title Loans & How Does It Work?
A title loan is short-term financing that lets you use your car title as collateral. These loans are especially designed for people who need immediate cash (usually within one day) or have a poor credit history to obtain traditional loans. What’s even better is that you can use your car like before.
Interest Rates and How Much Amount Can I Get?
The interest rate for your loan begins at 25% per month (which is equal to 300% APR) for the initial three months, and subsequently, it reduces to 12.5%, along with an additional lien fee.
Moreover, you have the flexibility to borrow an amount ranging from a minimum of $100 to a maximum of $50,000.
|Interest Rate||25% a month for the first three months, 12.5% after that, plus a lien fee|
|Max. Loan Amount||$50,000|
|Loan Duration||30 Days|
Looking For a $1000 Cash Loan?
Here’s an example of a $1000 title loan in Columbus, Georgia.
After One Month:
The amount you would owe is $1250.
After Three Months:
The amount you would owe is approximately $1953.13.
After One Year:
The amount you would owe is approximately $7546.89.
Yes, the monthly interest rate on title loans in Georgia is extremely high. Therefore, get a title loan only if you need one, get the minimum amount possible, and have a strong plan to repay it.
What Documents Are Required to Get a Car Title Loan?
Unlike any other personal loan where you are required a plethora of documents and paperwork, title loans come with minimum document requirements. While these requirements may vary based on the lender you choose, you will generally need the following documents:
- A Clear Title
- Proof of Identity
- Proof of Residence
- Proof of Income
- Vehicle Registration/ Insurance
Apply for Car Title Loans 100% Online with No Inspection
If you are looking for urgent financial aid and have a bad credit history, you can avail of car title loans. The good thing is that with online title loans, you don’t have to bring in your vehicle for an in-person inspection; just forward pictures of your vehicle from multiple angles and make sure the VIN and odometer readings are clearly visible. Below, we have mentioned an easy 3-step process to get a title loan.
Step- 1 Apply Online
Fill out our online application form and provide the necessary documents, such as your ID and proof of income.
Step- 2 Get Approved
If you get approved, you will be offered a title loan agreement with a clear mention of all the loan terms and conditions.
Step- 3 Receive Funds
Once you receive the loan agreement and agree to sign it, you can receive the loan amount quickly (the same day if you sign the loan agreement before 2 PM).
How to Get a Title Loan Without a Job
Traditional lenders often rely heavily on a borrower’s employment status to determine their ability to repay a loan. But title lenders take a different approach. They understand that not everyone has a traditional 9-to-5 job, and they consider other sources of income when evaluating loan applications.
So, even if you don’t have a job, you may still be able to qualify for a title loan. Here are some examples of alternative income sources that title lenders might consider:
- Social Security Benefits
- Passive Income
- Severance Pay
- Worker’s Compensation Pay
- Trust Fund Income
And various others.
Keep Driving Your Car Once You Get Your Cash
The best thing is that when you apply for a title loan in Columbus, Georgia, you can use the title of your vehicle as collateral. This means if you get approved for a title loan, lenders won’t keep your vehicle, and you can use it on your own terms.
Lenders usually put a lien on your vehicle for the duration of the loan, and once you repay the title loan along with the interest, you are entitled to get the title back in your name.
Can You Get a Title Loan Without Showing the Car?
Generally, when you apply for a car title loan online, title loan lenders require an in-person inspection of the vehicle to determine its value and condition. However, more and more lenders are starting to offer online inspections to make it easier and more convenient for the borrower.
With an online inspection, you can simply take photos of your car from each angle and provide them to the lender. The lender will then assess the condition and value to determine how much cash you can get. This means that you no longer have to bring your car to a physical location for inspection.
Some Important Information About Columbus, Georgia
|Persons Per Households||2.52|
|Median household Income||$50,542|
|Per Capita Income||$28,523|
Source: The Census Bureau
Frequently Asked Questions
Can I Get a Loan with Bad Credit?
Yes, you can get a title loan even with bad credit. Since title loans are secured loans, they don’t consider the credit history. However, lenders might run a credit check; rest assured, it won’t affect your loan approval.
What are the Different Ways to Pick up Car Title Loan Money?
When it comes to receiving funds from a car title loan, there are a variety of convenient options available. Many may choose from direct bank transfers, a check, or receiving cash.
Can I Refinance my Title Loan?
Certainly, you have the option to refinance your title loan. You can choose to do so when you require a lower monthly payment or find a better interest rate from a different title loan lender. Refinancing not only allows you to adjust the terms of your existing title loan but also reduces the overall cost of the loan.
Apply for Quick Title Loans Today!
Looking for a hassle-free way to obtain quick cash? We are here to help you borrow money using your car title as collateral. Just visit Montana Capital Car Title Loans for a smooth and fast title loan application and get the cash you need in no time.