(800) 250-6279PREMIER TITLE LOANS OFFER SAME DAY APPROVAL IN DAYTON OHIO
We offer car title loans for your vehicle’s equity, and you can apply online or call us at 800-250-6279!
VEHICLE TITLE LOANS ONLINE IN DAYTON OH!
Are you looking to borrow cash with your paid off vehicle as collateral? An online car title loan allows anyone in Dayton the chance to pull equity from their car and there's no penalty for paying off your loan early. Loan amounts in Ohio range from $2,000 to $25,000 and you can get approved with a credit check!
Dayton OH Title Loans – How They Work
Sometimes, you need a little extra cash to get by, and it can be challenging to find a lender if you have poor credit. That’s where Premier Title Loans can help! We offer access to title loans in Dayton, and you can get approved and funded in less than one business day.
Title loans work differently than traditional bank loans, and there are typically far fewer requirements than you’d expect with a personal loan from a bank. Car title loans operate under a simple principle: your vehicle is used as collateral for the loan. This means the lender holds your car’s pink slip until you repay the loan amount, plus interest and fees. Yes, these interest rates and fees can be quite high in Ohio, and there’s always the risk that your vehicle could be repossessed if you miss a payment. But a title loan can be a real lifesaver for the right person when they need fast cash!
Eligible borrowers in Dayton can borrow up to 65% of their vehicle’s value, and most can qualify without much of a credit check. Read on to learn about the requirements for a title loan and what else you need to know before you apply.
Requirements For Title Loans In Dayton, Ohio
You must show proof of vehicle ownership with additional documentation to prove your income and ability to repay the loan. The required document can include a monthly paystub, bank checking account info, or employment verification. Sometimes, you can verify income with a benefit verification letter from the Social Security Administration. You also need to submit your driver’s license or passport, proof of registration, and any document that verifies your current address.
Other requirements for title loans in Dayton include a vehicle inspection and holding comprehensive auto insurance coverage. Most lenders require full liability coverage on the vehicle you’re using to secure your loan. Regarding the vehicle inspection, this is often up to your lender and can be completed at their local location, your house, or your business. In addition, some companies accept video verification of your car or pictures of the vehicle to show it’s in good condition and matches the current resale value in Ohio.
Things To Consider Before Getting A Title Loan In Dayton, Ohio
Your loan amount is up to you! Yes, you can borrow up to 70% of your vehicle’s value, but why borrow more than you need? Lenders in Dayton offer a variety of different terms and loan amounts to suit different budgets – from as little as $300 up to $15,000 for cars and trucks that are newer or in better condition.
You also need to consider the fees and interest rates for title loans in Dayton, which vary widely depending on the loan amount and your underwriting details. The typical APR for secured title loans in Ohio is around 65%, but it can be as high as 30% per month or even more. Those high rates make it challenging to repay your loan without paying huge amounts in interest.
One last thing to remember about a Dayton title loan is that you can always refinance your loan after making a handful of payments. Even if your current lender isn’t open to refinancing, there’s always a chance you can find a new title loan company that’s willing to buy out your loan with a lower interest rate and improved payment terms. Apply with Premier Title Loans and we’ll see what we can to do get you out of debt quicker by refinancing your current title loan.
Laws Regarding Secured Loans Near Me In Dayton, Ohio
Online title loans in Dayton are regulated by both federal and state laws in Ohio, which means there may be some variation between companies regarding interest rates, loan amounts, and repayment terms. For example, since title loans are secured against a car’s equity, there’s not always a consistent repayment term, and there’s always an option to pay off your loan early before it becomes due.
There are also regulations on how loans with a car as collateral are structured and the terms a lender can offer. For example, if you don’t repay the loan on time or default on the payments, a lender can’t repossess the car until they have first sent a written notice stating that they will do so (at least five days before). Also, the lender can’t collect on that debt if you file bankruptcy while still owing money on the loan. That makes it nearly impossible to get improved if you’ve recently gone bankrupt or dealt with a repossession.
Contact Premier Title Loans to learn more about the regulatory requirements for title loans in Dayton. We’re not attorneys, but we’ve worked with applicants in Dayton for long enough to know what’s required and what you can expect once you start paying on your loan. Call us at 800-250-6279 with any questions about Dayton car title loans!
Local Title Loan Companies In Dayton
Many auto title lending companies operate in Montgomery County, so there are plenty of places to shop for the best rates and payment amounts. Some customers would rather submit their information online and then physically visit the lender’s location to finish the transaction in person. Not only can you meet with your lender in person, but you may be able to get your loan proceeds immediately after the loan is finalized! There’s no need to wait a few days for the money to hit your bank account. Instead, you can pick up your funds from a local title loan company in Dayton!
Apply Today For An Online Title Loan in Dayton, Ohio, With Premier Title Loans
When you’re short on time and need to borrow money fast, applying for a title loan online from your home may be more manageable. This is especially true if you are worried that there might not be any title lender offices in Dayton or where you live or work. Premier Title Loans makes it easy to get cash for your car’s equity, and we can help you anytime online; you can also call us at 800-250-6279 to complete your application over the phone!