5 Star Car Title Loans in Toledo, OH
Ohio is a beautiful state with a whopping population of about 11.78 million. While maintaining your finances in a city this big is difficult as it is, there are chances that you meet a financial crunch. And if so happens, you need to ask the lender directly to get money.
With financial giants piled up under tiring and endless paperwork, getting a traditional bank loan can take up to months. Therefore, turning to easy and quick alternatives such as a car title loan in Toledo seems a better choice.
So, to save you from lining up for personal loans and payday loans, 5 Star Car Title Loans offers car title loans in Toledo OH for fast cash solutions.1
What is an Auto Title Loan?
An auto title loan which is also known as a pink slip loan and a vehicle equity loan is a secured loan that is given against the vehicle title. It means that the borrower asks for money and allows the lender to put a lien on the vehicle’s title.1
These short term cash loans in Toledo OH extend fast and reliable services with which you can just possibly get money in one business day!2 So, as soon as you meet the protocol and provide the necessary documents, you can take the cash and return home in your vehicle!1
What Documents Are Required For Title Loans In Toledo, OH?
The requirements for title loans vary from state to state and so do the documents. In order to get title loans in Toledo, you should have the following documents:1
Government of State Issued ID
This can be your driver’s license, passport, or any ID that is issued by the Ohio government with your photo.
Recent Photos of Your Vehicle
For online processes that dodge in-person inspections, it is important to upload the recent photos of your vehicle along with the odometer readings.
Proof of Income
This can include pay stubs, bank statements, or any other form of proof that can show a steady flow of a normal median income.
Do not have a traditional office job? No problem. To get a car title loan, you can also share a disability award letter, tax statement, or another form of income.
Proof of Ohio Residency
To show that you are a resident of Ohio, you can submit a utility bill, a recent credit card bill or your rental/mortgage agreement.
Qualifying Vehicle Title
Since it is a secured loan, you need to have a clean vehicle title in your name.
Please note that the above mentioned are the necessary documents but you can be asked to provide additional information too, depending on your case.1
The Title Is Not In My Name, Can I Still Qualify For A Title Loan?
If the car title is not in your name, you can easily get it changed. Having a car title in your name is essential for getting a title loan, hence, you need to get it changed.1
All you need to do is visit the nearest Ohio Bureau of Motor Vehicles (also known as BMV) along with the following documents:1
- Your vehicle’s title
- Vehicle’s registration
- A form of payment
You can fill in an application and get the vehicle title transferred to your name. After that, you will be eligible for title loans.1
Online Car Title Loans in Toledo, OH
With 5 Star Car Title Loans, you can get a title loan in three simple and easy steps. All you need is a smart device and internet connections.1
These steps entail:
Step 1: Apply online
To begin the process of title loans, you can visit the official website of 5 Star Car Title Loans where you will be asked to initiate the inquiry process. You will be asked to fill out an online application and you will be asked to provide your personal details & your vehicle’s details.1
Alternatively, you can call us and a loan agent will fill the form for you. Once the form is filled, you will get a pre-approval and you will be given a rough estimate of the loan amount.1
Step 2: Submit documents
After getting a pre-approval, you will be asked to submit all the basic documents. This is integral to the verification of information. The sooner you submit the documents, the faster the loan process will be. After receiving your documents, the loan agents will carefully assess them and get back to you.1
Step 3: Get your car title loan money!
Once all the documents have been received and the information checks out, you will get the final loan approval. The loan agent will tell you how much cash you can get. He will also share details such as minimum loan amounts, interest rates, Annual Percentage Rate (APR), monthly payments, actual loan, payment plan, etc.
These details will be put in a loan agreement and after you have signed it, you will get your title loan money!1
Understanding the Benefits of Title Loans Online
There are many reasons to send in an application for instant loans online. Once you work with 5 Star Car Title Loans, you’ll understand why people love the convenience of online loans. Here are a four of those benefits:
Stay where you are and apply anytime – Wherever you are, if you have access to internet you can open your smartphone, tablet or laptop and send in your application. There is no need for you to go anywhere!
Fast and easy applications – Everything from turning in your request all the way to signing a final contract can be accomplished online.
No obligation offers – when you send an application to 5 Star Car Title Loans, you are under no obligation to accept any offer.
Quick and fast comparison shopping – By sending in one application, you are able to receive offers from multiple lenders. Compare terms and costs and select the best deal for your situation.
Where Can I Use My Car Title Loan?
While a personal loan can be spent on a myriad of things, loan proceeds from a car title loan cover comparatively fewer areas. Car title loans are usually meant for personal or household purposes.1
You can spend your title loan money on the following:1
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Medical Bills
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Travel Expenses
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Home repair/renovation
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Funeral Cost
How Fast Are Title Loans in Toledo, OH?
5 Star Car Title Loans tries to eliminate all as many bottlenecks as possible. We try to keep the whole process fast and smooth so that you can meet your immediate cash needs.2
If you have completed all the formalities and have provided the required documents, you can get same-day title loans, too.2
Can I Keep Driving My Car After Getting A Title Loan?
5 Star Car Title Loans never ask the borrower to submit their keys or vehicle. You can get your money and drive back home in your own vehicle. As long as you maintain on-time payments, you will be free to keep using your car.1
There may be various title loan services out there asking the borrowers to submit their car keys but 5 Star Car Title Loans never asks you to do something like this.1
How Are Title Loans Paid Back in Toledo, OH?
5 Star Car Title Loans offer easy repayment methods. You can choose any mode of payment from the list of options we offer. You can pay your title loan via:4
- Over phone call
- Debit/credit card
- Application
- Participating locations
- Transfers from the bank account
- Direct deposit
Kindly note that the first instalment of a title loan is due after thirty days of getting a loan. The title loan payment may extend up to three years based on the terms of the agreement.4
Are There Any Prepayment Penalties?
We understand that debt should be paid as soon as possible. There are chances that another lender based in Toledo OH might not agree on the same and may charge you with a prepayment penalty.4
However, 5 Star Car Title Loans is different and does not levy any prepayment penalties if you try to pay your title loan earlier than the dictated timeline.4
What If I Have Bad Credit?
You may get a title loan with bad credit. A bad credit score will steer traditional bank loans away but the case is not the same when it comes to title loans. You may get a title loan even with a poor credit history. Since title loans in Toledo are determined by different factors, it is not a strict rule to have a perfect credit history.1
The factors that determine a title loan include:1
- Car’s Equity
- Ability to Repay
- Your Income
These three will be the primary focus of the title loan approval process. So, even if a credit check is conducted, it will have no impact on your eligibility. The above named are also the factors on which the minimum loan amounts are based.1
What If I Default On My Title Loan?
While one or two missed payments may be ignored, too many failed payments can lead to the repossession of your vehicle. There are some states that allow you to talk to the loan agents and come up with a better title loan arrangement.1
On the other hand, in other states, you can lose your vehicle and your right over it if you seem to default on your loan. In Toledo, OH, you can communicate your situation to a loan agent and he might come up with a chance of refinancing depending on your situation.4
Is My Personal Information Safe With 5 Star Car Title Loans?
Extending reliable services is one of the primary aims of 5 Star Car Title Loans. The information that we ask you to share with us is solely meant for title loans. We use that information to check your eligibility.1
We do not share any kind of information with third parties whatsoever. So, you do not need to worry about your privacy; we keep your information safe.
Advantages of Auto Title Loans With 5 Star Car Title Loans
Getting a loan is difficult as it is and no one needs to have additional problems while applying for one. So, we try to not only keep the process hassle-free but also try to provide some benefits.1
There are myriads of benefits that come along with auto title loans. These include:
- Funds paid quickly2
- Bad credit history is not a problem1
- Completely online process1
- Immediate assistance
- Competitive rates1
- Keep driving your car
Caught up In A Financial Crisis?
Don’t worry! You can get quick cash!
You do not have to wait in long queues anymore, and get money the same day!2 Apply for a car title loan in Toledo, Ohio and get instant approval!2
