What to Know About Title Loans in Lincoln, Illinois

Before applying for title loans Lincoln, it's a smart idea to learn more about how they work. Above all, you'll want to make sure a loan can resolve, improve or take care of financial problems. At Lincoln Car Title Loans, we can appreciate what you're going through if you're considering a loan. You may be wondering what's involved in the loan process and whether you could qualify for a loan with your credit score. Most likely you are also wondering how long it takes to apply and when you could receive your loan funds. Well, these are all valid questions when considering car title loans. If you need some quick cash to get finances back on track, this information will explain the process and answer your questions.

The Title Loan Application Process

Application Options

To make things as easy as possible for applicants, we can offer you three methods to apply for title loans Lincoln.

  1. 1.   Apply over the phone.
    You're welcome to call our number to apply over the phone if you prefer this personal touch.
  2. 2.   Apply at a loan store.
    If you prefer to meet with a loan representative, you are welcome to visit one of our convenient branches to apply.
  3. 3.   Applying online.
    For most people, applying online is the easiest method, and online applications are generally quicker to process.

The Title Loan Application

Applying online takes just a couple of minutes. We only require your contact information and some basic info about your auto you'll be using as collateral.

  • •   First and last name, home zip code and a number where you can discuss loan terms.
  • •   The age of your car or truck and an estimate of the current mileage. The make, model and body style of your vehicle.

Important Benefits and Highlights About Title Loans

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Applicants

Everyone is welcome to apply regardless of their profession or income. In most situations, we can get your approved and paid out quickly.

Fast Loan Funds

Typically, from the start of the application to paying out takes no more than 24 hours. You may even receive your loan funds within a few hours of applying.

Loan Purpose

Unlike most banks, which require you to state a purpose for the loan, Lincoln Car Title Loans will never ask you why you want a loan. You are free to use loan funds on anything that you need or want. Many folks use title loan funds for emergencies, medical costs, home repairs or making ends meet until the next paycheck.

No Driving Restrictions

We know our customers depend on their cars for making a living, school and a number of other purposes. You are free to drive your vehicle just as you always have during the loan period, so long as you continue to make your payments.

Loan Amounts

We use a few factors to determine your loan amount. We'll consider the overall condition of your auto, the mileage, age and the current market value according to Kelly Blue Book. We also take into consideration your ability to repay the loan amount.

The Loan Process From Start to Finish

Checking Your Qualifications

Before applying for title loans Lincoln, you'll want to make sure you meet a few qualifications such as:

  • • You'll be using your car title as security to secure the loan. Therefore, it is important that vehicles are in working and running condition. Those vehicles in better condition, typically rate higher loan payouts.
  • • Applicants must have a paper title listing them as the owner of the vehicle. Car titles should not show any liens against the vehicle. This means, you don't have a loan on the auto and it's fully paid for.
  • • To meet legal requirements, all borrowers must be at least 18 years of age. You'll be asked to present a state identification card or a driver's license, which substantiates your age.

Application

Applying online, over the phone or at one of our loan stores begins the application process.

Your Loan Estimate

Everyone applying for title loans Lincoln receives an upfront loan estimate. We know everyone is anxious to know how much money they could be approved for. Knowing your loan amount early in the process allows you to make financial choices and decide whether you wish to proceed with the loan. It may also be helpful for you to know that applications and loan consultations are free of charge.

Consulting With a Loan Representative

Most applicants receive a phone call the same day they apply from a loan representative. Your rep will guide you through the entire loan process and is available to answer all your questions.

During your consultation, you'll be discussing income, which could be used for qualifying. At Lincoln Car Title Loans, we are very flexible when it comes to qualifying income streams. We qualify applicants all the time based on part-time or full-time income, retirement income, disability benefits, Social Security benefits, unemployment benefits, self-employment income and several other options.

Lastly, you'll work closely with your rep during your consultation to find the best possible payment arrangements for your situation. We can work with you to find a short-term loan or even a long-term loan. Our main consideration is making sure you are comfortable with the payments and still have money for other monthly expenses.

Confirming the Terms of the Loan

Title loans Lincoln agreements must be written by the lender to conform to state regulations. This means, all contracts will state the important terms of the agreement between the lender and the borrower. Contracts will include:

  • •   Interest rate and the cost of the interest.
  • •   Original cost of the loan.
  • •   Length of the loan.
  • •   Total cost of the loan.
  • •   Payment schedule.
  • •   Minimum payment amounts.
  • •   Applicable fees.

All approved borrowers are encouraged to read through their contracts carefully and ask any questions before committing to the loan.

Receiving Loan Funds

Borrowers must submit the paper car title to Lincoln Car Title Loans at a loan store to meet the collateral requirements. At the same time, you may collect your loan funds.

If you think title loans Lincoln could be a good option for your financial needs, Lincoln Car Title Loans is ready to help.

Contact us