If Ohio is the Buckeye State, then Columbus is without a doubt the buckeye city. Within Columbus lies the beautiful town of Delaware. Home to over 35,000 Ohioans, Delaware is a bustling town complete with cultural landmarks, shopping centers, arts and entertainment, and much more. If you are a resident of Delaware looking for a quick and easy way to get the cash you need to cover a medical emergency, pay for a last-minute vacation, or make some unforeseen repairs to your home or automobile, one great way is to take out a car title loan.
What is a car title loan?
If you are wondering what a car title loan exactly is, do not worry you are not alone. In fact, it is not rare for a car title loan to be the first type of loan people take out. That’s because unlike other types of loans such as traditional personal loans you get from the bank, car title loans do not require an applicant to have a great credit score or credit history to qualify. In fact, car title loans can be approved for people who even have things like bankruptcies, defaults, even evictions in their past!
The reason why, is because unlike traditional personal loans, car title loans are secured loans. That means that the value of your loan is based off of the value of something that you already own. In the case of car title loans, the loans is based off of – you guessed it – your car. Once a lender has decided that you and your car meet the necessary requirements, you can expect to receive a loan from as small as $100 to as large as $10,000 and beyond! All you have to do is allow the lender to put a lien on your car title. After you take out your loan, you’ll typically have 30 days to pay back your loan in full plus interest.
What do I need to qualify for a car title loan in Delaware, Ohio?
If you are seriously considering taking out a car title loan, you are probably wondering what kind of documents you will be expected to provide in order to qualify. While all car title lenders are different in terms of what they need and what they don’t need when it comes to approving applications, there are some general documents that are required regardless of what company you are working with.
Here are the following documents you can expect to provide to any online title lender:
A copy of your car title
Proof f income
Details of your vehicle (may include photos, video, or an in-person inspection)
The entire process of submitting your application, have it evaluated, and qualifying for a loan can take less than 30 minutes. Here at Ohio Cash Loans, we make it our job to make sure that that process takes as little time as possible so that you can get the money you need when you need it. One thing to ensure that your process goes as quickly as possible is to make sure that you have the necessary proof of income so lenders know that you will be able to pay off your loan in time. On top of that, the better quality your vehicle is in, the lower your interest rate will likely be, that means that you will be paying less in interest fees throughout the life of your loan and less money overall to pay your loan back in full
Car Title Loans vs. Payday Loans
If you are facing a cash emergency, another type of loan you are probably considering is a payday loan. While a payday loan may seem like a good option, especially because it is an unsecured loan, there are a number of reasons why title loans should be the preferred method to same-day borrowing.
One reason why car title loans are preferred to payday loans is because car title loans are typically far more valuable than payday loans. Car title loans are based off of the value of your car, and are usually worth about 30 percent to 50 percent of the value of your loan. That means that if your car is worth $8,000, you could qualify for a loan worth $3,000 to $4,000!
The primary reason why car title loans should be the preferred same-day loan type, however, is because unlike payday loans, car title lenders will never charge unreasonable interest rates. A reasonable interest rate means that you won’t be gauged by lenders to borrow the money you need.
What can I use my car title loan for?
As a rule, car title loans can be used to pay for a many number of financial emergencies and needs. If you are facing a specific financial need and are not sure if a title loan could be used to help, here is a list of some common expenses that car title loans are used for.
Evading property foreclosure
Vehicle or home repairs
About Delaware, Ohio
One of the gems of central Ohio lies smack dab in the middle of Delaware: the Historic Northwest District. This historic neighborhood boasts beautiful historic homes, delightful green spaces, and a bustling downtown area that is home to one of the premier small liberal arts universities – Ohio Wesleyan University.
The Historic Northwest Neighborhood is home to more than 500 homes and carriage houses listed on the National Register of Historic Places. Together they all give residents and visitors alike a window into what Delaware, Ohio look and felt like from the 19th century (the oldest home was build in 1826) to the modern Craftsman (1915), to French Eclectic (1930).
Ohio Cash Loans can help you secure the emergency cash you need today by way of an Ohio car title loan. Car title loans are a great way to unlock the existing value in your car and cover emergency expenses. Its as easy as logging on to your laptop. Start your application and get a free quote today!