Title Loans in Massillon, Ohio
Customer Centered ServiceProviding excellent customer service and a positive loan experience is 5 Star Title Loans top goal and we work tirelessly to make this happen for each and every customer.
Loans for Low Credit ScoreWe don’t like turning away customers simply for having a bad credit score. We will work hard to get you a loan regardless of your bad credit.
Easy Application ProcessWe understand the urgency when getting a loan, so we offer simple options for applying. You can choose to apply either by phone or online.
5 Star Car Title Loans in Massillon, Ohio
Despite steady earnings and effective financial planning, we can sometimes face a serious cash crunch. There is no surety that we will always have financial stability. Even with such knowledge, many Americans lack emergency funding and when a crisis hits them, they turn to financial institutions for borrowing money.
But in the state of Ohio, if you need instant cash, it is better to choose car title loans. These title loans are easy and smooth loan options that can help you in getting access to extra cash in as short as one business day.2
Therefore, 5 Star Car Title Loans offers short-term loans in Massillon Ohio. Learn more about these loans here.1
What Is a Car Title Loan?
A title loan is a short-term secured loan that is given against collateral. As with every secured loan, it uses acceptable property i.e. your vehicle title. A title loan acts like a personal loan that can be used to pay your bills and cover personal expenses.1
How Do Auto Title Loans Work?
The process of title loans in Massillon, Ohio starts with the borrower approaching the lender with a qualifying vehicle and a clear title. The lender assesses the vehicle and in case, the consumer qualifies, the lender puts a lien on the title and gives the money in exchange.1
The lien stays until the loan has been completely paid off. Just after the last payment of the loan, the lender removes their name from the title.1
List Of Basic Requirements For Receiving an Auto Title Loan
In the state of Ohio, all those who try to get a title loan must comply with the basic requirements. Have a look at these if you wish to get a title loan in Missiollon:1
- You must be 18 years of age or above
- You must have a steady source of income
- You must have a qualifying vehicle and a vehicle title in your name
What Documents Do I Need To Have To Get a Car Title Loan in Massillon?
The title loans in Massillon have a short list of all the required documents without which getting a title loan can be a next to impossible task. If you wish to get a title loan, make sure you have all these documents handy:1
Income documentation is necessary as it will be used to calculate the amount of the loan. You can show your bank statements, pay stubs, tax returns, etc.
Ohio residency includes utility bills, credit card bills, mortgages, or rental agreements.
To give proof of identification, you can share your driver’s license, passport, or other government-issued ID with a photograph.
Qualifying Vehicle Title
It is one of the primary requirements of a title loan. You must have a clear title that can be put forth as collateral.
Recent Photographs of your Vehicle
Recent photographs of your car from a different angle must show the car’s VIN.
Get Online Massillon Title Loans In Three Easy And Short Steps
The complete process of getting online title loans does not consume more than 5 to 10 minutes. We try to maintain comfort and ease throughout the entire loan process for the applicants. Therefore, the process has been sliced down into three short and simple steps:1
Step One: Apply online
Apply online on our official website and you will see an online loan request form popping up, fill in your name, address, income, mobile number, and car details. Once you have completed the form, submit it.1
Or as an easier option, just make a call and one of our loan agents will complete this step for you.1
Step Two: Turn In Some Documents
The information you filled in the form will give you conditional approval, the final approval, however, will be given after the pending review of documents has been done.1
As we have said before, there are a few basic documents that need to be submitted in order to get a title loan. Once you have turned in those documents, our team will assess them and verify the information.1
Step Three: Collect Your Funds
After the complete verification, you will get the final approval. Followed by the loan approval, a loan agent will contact you to give a rough estimate of the minimum loan amount, interest rates, payment plan, etcetera.1
Although it goes without saying, we still want to remind all our customers to carefully read the loan terms and conditions before signing the form. In case of doubts or questions, contact us and our team will be more than happy to answer them.1
If you have completed all the formalities and have signed the contract, you can get your money in one business day.2 And this is how easy title loans in Massillon can be!1
How Much Cash Can I Get With Massillon Car Title Loans?
Title loans in Massillon have secured loans that use the title as collateral, hence, the amount will somewhat be affected by the value of the car. Nonetheless, there are three important factors (including car value) that determine the loan amount.1
Here is how these three factors decide the amount of your loan:
- Your Ability to Repay
Your ability to repay the title loan is studied by assessing your income and the expenses against it. We will look for the monthly cost of living and any previous loan payments you make to see how much money you are left with.1
This is done to check whether you will be able to afford the loan or not. Hence, the loan amount will definitely get affected by the repaying ability.1
- Your Car’s Equity Value
Even to qualify for a title loan, you must have sufficient equity left in your car. The equity value of a car is the difference between the car’s resale value and the amount owed on it. The higher the equity, the higher the loan amounts.1
- Your Car’s Market Value
The market value of the vehicle is based on its condition, manufacturing year, brand, model, colour, and cosmetic surgeries are done to the surface.1
Kindly note, that you can get a loan of up to 75 % of the car’s value.1
How Can I Receive My Auto Equity Loans in Massillon?
Receiving title loan funds is another straightforward task that spares a huge amount of time and effort. Getting your money is as easy as falling off a log. All you have to do is share your account information (if you wish to get money transferred to your bank account), you can get money via:
- Direct deposit in your bank account
- Mailed Check
How Can I Use Loan Proceeds From Title Loans?
You can use your online title loan for personal expenses. Any sudden or unexpected bill can be covered by auto title loans. Some of the ways in which your title loans can be used include:1
- Paying Rent
- Paying for Mortgage
- Paying for Home repairs
- Covering Funeral expenses
- Paying for Legal expenses
- Car maintenance and repairs
- Medical expenses
- Debt relief
- Veterinary expenses
Pay Early Without Any Prepayment Penalties
We have a complete transparency policy, therefore, we do not catch our customers with hidden fees or penalties. If you wish to pay your title loan early, pay it without worrying about getting charged with penalties.4
It is understood that everyone wishes to pay off the debt as soon as possible to avoid debt consolidation or so. Hence, we accept early loan payments.4
Can I Get A Title Loan Even With A Bad Credit History?
Usually, bad credit history can keep you away from getting a bank loan, and hence, it is natural to wonder if this bad credit will affect your eligibility criteria for a car title loan.1
Well, you may get a title loan even with bad credit however, the lender can perform a quick credit check but title loans do not focus on credit scores.1
Since getting a title loan is subject to meeting the lender’s credit criteria, there are three factors that determine the same:1
- Ability to repay
- Your car’s equity
- Your car’s market value
On condition that you can demonstrate the ability to repay, and have adequate value in your car, you may get a title loan irrespective of your credit scores.1
Is My Personal Information Safe with a 5 Star Car Title Loan?
With the cases of identity theft in the USA, it is logical to have concerns about your private information. We use your information to complete the loan process and once it gets completed, the information is of no use to us and we delete it from our database.
Also, as long as your details stay with us, they are not shared with any third party unless you give written consent. Therefore, feel safe while getting a title loan with us.
How Can I Repay My Auto Title Loan?
If receiving a title loan is easy, repaying it is easier! The repayment of title loans in Massillon can be done offline or online, depending on the convenience of the customers. You can choose any one of the given methods to make the payments:
- By cash at any participating money transfer location