Lima Title Loans

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If you are a resident of Lima, Ohio contact us at Ohio Cash Loan and we will help you get the money you need by unlocking the value of your car with a car title loan.

Lima benefited greatly from the production that came with the second World War and in 1941, construction began on Lima Army Tank Plant to manufacture cast gun tubes. In November 1942, United Motors Services took over operation of the plant to process vehicles under government contract. The plant prepared many vehicles for Europe, including the M5 light tank and the T-26 Pershing tank. At its peak during the war, the Lima Tank Depot employed over 5,000 people.

Car Title Loan Requirements

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:

  • Drivers license
  • A copy of your car title 
  • Proof of 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. 

Does my credit hurt my chances of taking out a title loan in Lima?

For most types of loans, you credit score plays an incredibly important aspect of your ability to take out a loan. That’s because your credit score tells loan lenders about your borrowing history. If you have a high credit score, lenders will know that you are a responsible borrower. They will feel confident in lending you money because they will feel confident that you will be able to pay it back. 

On the other hand, if you have a poor credit score, lenders are likely to reject you because they don’t feel confident that you will actually be able to pay it back. 

When it comes to title loans in Lima, you credit score won’t keep you from getting the money you need. That’s because car title loans are secured loans tied to the value of your car. Because the value of your car dictates whether or not you qualify for a title loan in Lima and how much that loan is worth, most title loan lenders won’t even ask for a credit score check!

Title loans vs. Payday loans

If you are in need of same-day lending, chances are good you are looking at your options. That’s smart, and there is necessary research that you should always do before agreeing to take out a loan. That being said, when it comes to same-day or bad credit loans, a title loan should certainly be your preferred option of a payday loan. 

The reasons are quite simple. 

First off, while payday loans are typically worth somewhere between $100 and $1,000, car title loans can be much more valuable. That’s because the title loan you are given will be based off of the value of your car. If your car is worth $10,000 for example, you could qualify for a loan from anywhere between approximately $3,000 and $7,000! At Ohio Cash Loans, our friendly staff will help you get the flexible loan you need when you need it. 

The second reason why a car title loan in Lima should be your preferred source of same-day lending rather than a payday loan is because while title loan’s come with high interest rates, they’re not nearly as high as payday loans. That means that you are spending less money to take out your loan! It’s a win-win! 

About Lima

Lima may be most well known in today’s current culture thanks to being home to the fictional William McKinley High School which was the location of the hit musical comedy-drama television show “Glee.”

While the television show was actually shot in Los Angeles, California, the show did help put Lima on the map for millions of Americans.

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