Title Loans in Newark
5 Star Car Title Loans in Newark, Ohio
While most of us want to keep our life and expenses under our control. Barely anything always works according to us.
With so many random things happening on a regular basis, expenses keep on fluctuating and many times they go out of our budget.
In that situation, all we would want is an easy and fast option to borrow some money so that we can pay for it by the month.
Luckily, with the help of car title loans, residents can finance themselves instantly and cover their bills without going through a lot of paperwork and unnecessary visits.1
Let’s learn more about title loans:
Title Loans In Newark, Ohio
Auto title loans are fast and easy short-term loan options that allow a person to avail of instant cash and use it for his personal and household needs.1
In these types of loans, the borrower uses his car title as the collateral and against that title gets access to emergency funds and pays for their bills.1
Unlike other collateral loans, title loan lenders don’t require you to submit your car for the loan tenure. When you opt to get a title loan with 5 Star Car Title Loans, you can take the money and pay it back in small installments while driving your car wherever you want.
Title loans are also referred to by other names such as pink slip loans, vehicle equity loans, title pawn, etc.
What Do I Need To Be Approved For To Get An Auto Title Loan In Newark, Ohio?
Unlike other lending options, title loans are known for having looser credit qualifications where you don’t have to fill in lengthy forms and satisfy tons of conditions to get yourself funded.
Here are some of the basic conditions satisfying which you can easily apply for a title pawn:
Particulars To Qualify For a Car Title Loan in Newark, Ohio
- Applicants must present a clean and lien-free title of the vehicle they are using.
- Applicants must have an Ohio or government-issued ID with them.
- They should have a steady and reliable source of income.
- Applicants must be 18 years old or above.
List of Documents To be Submitted During the Application Process of Title Loans:-
The borrower must present a clean and lien-free vehicle title registered in his name in the Ohio state.
Valid Government Issued Photo-ID
Customers can show their driver’s license or passport as their proof of identification in the state.
Proof of Newark, Ohio Residency
Locals can use their lease agreements, mortgage agreements, or utility bills such as credit cards, electricity, etc. as proof of their address.
Proof of Income
Several forms of income proofs are accepted for an auto title loan in Newark such as payslips, tax statements, bank statements, compensation letters, etc.
Photos of The Vehicle
With 5 Star Car Title Loans, you can skip the in-person inspection and directly send all your latest photographs to our team by mail.
Some title loan lenders might need you to submit references for your title loan. The references can be either personal or professional and can also be outside the state.
How Does The Application Process Work?
Vehicle title loans are known for having a painless and simple procedure where the applicants can apply online and get the funding by using their vehicle title and providing some basic information and documents.1
Process of Applying for an Online Title Loan in Newark, OH
Check Your Loan Eligibility
If you are looking to finance yourself using an auto title loan, the first thing you’ll need to do is go on our website and check whether you are eligible for getting one or not.
You can do that in minutes by filling out a short online form with a few details about you, your car and income, etc. In case you need some help, you can call our executive on (888) 309 0994 and know your eligibility from them.
Apply Online At Our Website
Once our team verifies the details, we will contact and consult about all the necessary terms and conditions of the loan, including minimum loan amount, interest rates, repayment plan, etc.
After you understand everything about them, you’ll be required to submit a few documents to confirm your credentials.
Submit The Required Documents
As per the Ohio title loan laws, you’ll be needed to provide valid documents such as proof of identification, qualifying car title, proof of income, etc. to secure your personal loan.
Customers of 5 Star Car Title Loans can save their time by directly uploading or mailing the documents to our team to get their online title loans.
Receive Funds In Your Bank Account
Once you get the final approval and you express written consent agreeing with the terms. You can expect to get your title loan money in your bank account within 24 hours or one business day.2
Available Payment options for Akron Title Loans
- Direct Deposit into The Bank Account
- Mailing Check
- Money Transfer from MoneyGram
- Cash Collection at The Nearest Participating Store
Can I Apply For An Auto Title Loan If I Have Bad Credit?
Yes, you can easily apply and even get qualified with bad credit!1
Unlike traditional bank loans, most title loan lenders don’t base your loan eligibility solely on credit history. Even though some can do a regular credit check to determine lending risk, it’s possible for people to apply and even get approved with poor credit.1
Generally, the eligibility for Newark title loans depends on 3 major factors:
- Ability To Repay The Loan1
- Condition and Market Value Of the Car1
- Equity In The Vehicle1
Applicants who have a qualifying car title, a well-kept car, and earn a decent living can apply and receive their loan proceeds without worrying about their credit score.1
Can I Get A Title Loan Without A Traditional Job?
We at 5 Star Car Title Loans know that in modern times most people don’t want to do a 9-5 job and have found other ways to make their income too. Those people can also apply and get approved for a car title loan.1
Here are some situations where you can be approved without a traditional job:
Qualifying For Title Loans Without a 9-5 Job
Having Enough Savings in The Bank
Customers who like having savings and have a decent amount of savings in the bank can show their bank statements and may qualify for a car title loan in Newark, OH.
On Worker’s Compensation
For residents whose regular income has been reduced due to injury and need some extra money can show their worker’s compensation letter while applying for auto title loans in Ohio
Receiving Pension From The Government
Retired and Old-aged individuals can use their awards letters, SSIs, and bank statements to show their government compensation and secure their pink slip loan.
If you are earning passive income from sources such as dividends, rentals, etc. you can use those assets and take the benefit of same-day cash loans.2
How Much Cash Can I Get With Car Title Loans In Newark, Ohio?
At 5 Star Car Title Laws, we follow all the Ohio laws and guidelines and work to provide sterling customer service where applicants can easily get their loan funding without going through any hassles.
Usually, when you apply with 5-star Car Title Loans, applicants might be able to access around 75 % of the market value of their car.1 Here are some of the factors that are looked upon while calculating your car’s market value.
- Make, Style, and Brand of the Car
- Year Of the Car
- Current Mileage on the Odometer
- Current Condition of the Vehicle
You can use the above information and contact your car dealer to know a good estimate of how much you can borrow.
Frequently Asked Questions
Does paying off an auto title loan early hurt credit?
No! Auto title loans are short-term loans in which many companies do not report your loan details to the credit bureau.1
While some of them can levy a prepayment fee do charge a prepayment charge. 5 Star Car Title Loans don’t charge any sort of pre-payment penalties or hidden fees to their customers for paying their title loan early.4
Is car insurance mandatory for a title loan?
Although there are no specific requirements for having car insurance. Having insurance indicates that you keep good care of your car and help in creating a better image as an applicant and can help you during the loan process.
How to pay back my title loan?
Unlike payday loans, you can choose your repayment schedule and pay your loan back in smaller monthly payments. You can do easy payments through your bank, by mailing checks, or by MoneyGram transfers too.4
Can I get a title loan if the title is not in my name?
Unfortunately, you can’t! A clean and lien-free title is one of the prerequisites for applying and getting approved for the title pawn.1 Nonetheless, you can contact your local DMV and submit a few documents and get the title transferred to your name.
Can You Apply For Title Loans Online?
Yes, we know that no one wants to waste their time standing in long queues or visiting places. That is why we have created a smooth online application process where people can apply from their homes and save themselves a lot of time.
Why Should You Choose 5 Star Car Title Loans In Newark, OH?
Here are some benefits you’ll enjoy when you opt to choose 5 Star Car Title Loans in Newark, OH
Smooth Application Process
Our whole loan process is very smooth and streamlined where applicants can chec