We are currently not providing car title loan services in this state. The information brought here is meant to explain in general terms what auto title loans are. You can still submit a loan request for installment loans with us.
Title Loans in Iowa
Getting a hold of some extra money while being in a financial pothole can be a tough and challenging task. While obtaining a bank loan sounds like something that can be of great use, their strict application process can be really hard for people with bad credit history.
And because of their lengthy process, selecting short-term cash loans and fetching instant financial relief is a better choice for most people. Among those provisional financing options, affordable title loans take the top shelf.
In Iowa, car title loans offer a very simple, secure, reliable way for financially distressed people to apply and get extra cash without any hassles. If you also struggle with empty pockets and hefty bills, you should check out how the title loan process works.
What is an Auto Title Loan and How Could it Help Me in Iowa?
Auto title loans (sometimes known as pink slip loans) are secured loans that allow loanees to use their car’s title as collateral and get access to quick funding.1
In a car title loan, the borrower approaches the lender for a personal loan and submits his car title as collateral. The loan provider puts a lien on the car’s title and gets temporary legal rights over the car.
After the payments of the car title loan have been completely repaid, the lien is removed from the title and the borrower gets a clean title back.1
Title loans are widely known for having a streamlined and easy application process where people can get access to extra money within 24 hours.2
Qualifying For Iowa Title Loans
To be eligible and take the benefit of affordable title loans, Iowa residents need to tick off certain prerequisites.1 Knowing about these conditions beforehand would help you and make the application process easy for you.
Particulars To Qualify For Car Title Loans in Iowa
- While filling out the application, applicants must be 18 years old or above and should have valid ID proof of the same.
- For them to be eligible, they need to have sole ownership of their vehicle and also need to present a clean and lien-free title of that same vehicle.
- Residents need to have a stable and reasonable income source that can assure the lenders that they can pay back the loan.
- Residents need to be living in Iowa state and also show some sort of document to prove their address.
What Documents are Needed for Online Title Loans in Iowa?
Title loans are straightforward and pain-free cash loans where lenders do not demand much from the borrowers. But, some essential and basic requirements need to be checked out to successfully get your application processed.
Necessary Documents Required by Car Title Loan Lenders:1
A Clear Vehicle Title
The most important document that you need is a valid vehicle title. There should be no liens on that title and it should be registered in your name.
A Government-issued ID
Even though a driver’s license or passport are generally used, you can several identity documents issued by the government with clear photo to prove your identity.
Proof Of Income
Proof of income is very important as it can highly impact your application. Regardless of what type of income source you have, as long as there’s a steady flow of earnings, you can present those documents are income proof and get a title loan.
Typically, people prefer to use their bank statements, pay stubs, income tax returns, etc as proof of income.
Mortgage/rental agreements can be shown as residence proof for getting a car title loan. But if you don’t have that, you can use utility bill receipts of credit cards, electricity, gas, etc.
Can I Pay My Loan Earlier?
With 5 Star Car Title Loans, paying your title loan earlier than the decided period is very easy and painless. We charge no hidden fees or pre-payment penalties and encourage you to pay timely installments.4
When it comes to online title loans at 5 Star Car Title Loans, our focus is to maintain complete transparency. We share every bit of information with our customers and assist them in carefully going through guidelines before applying.
Where Can I Use Title Loan Money in Iowa?
Title loan proceeds are meant to be used to deal with personal and unexpected expenses which can seriously impact our budget. Unlike other loans, these cash loans don’t have restrictions on where the money can be used such as :1
- Paying your rent
- Covering Home repairs
- Covering Funeral expenses’
- Paying your mortgage
- Legal expenses
- Car maintenance and repairs
- Medical expenses
How Much Can I Get for Car Title Loans, Iowa?
When it comes to a car title loan, interest rates and loan amounts are based on multiple factors.1 Here are a couple of things title loan lenders check while calculating your loan eligibility and other factors:
Income/Ability To Repay
Having a reliable and higher income source means you can afford the loan and will pay it back on time which will allow you to apply and avail of larger amounts of cash.
Equity In The Vehicle
At the time you borrow money for the loan, a certain amount of equity is lent for an equal amount of cash. Therefore, the more equity you have in your car, the more money you can get for your personal needs.
Value Of The Vehicle
As every vehicle and applicant is different, the minimum loan amounts vary depending on the people.1 Certain elements are used by lenders to calculate the car’s market value is calculated and determine the final loan value a person can get. These elements do include
- Make, Model, and Style of The Vehicle
- Year when it was Launched
- Existing Vehicle Condition
- Odometer Reading
- Modifications Done(If Any)
At 5 Star Car Title Loans, we focus on providing fast title loans where people can access funds in accordance with a fair market value for their car and get cash at competitive rates.
Benefits Of Choosing 5-Star Car Title Loans
Struggling to qualify for the terms of a traditional bank loan because of your poor credit history? Maybe all you need is to try applying for a car title loan and see yourself how same-day2 cash funding can help you out.
Here are some other great advantages the customers of 5-Star Car Title Loans enjoy:
- Smooth Application Process
- Competitive Interest Rates
- Lending For Bad Credit1
- Adjustable Repayment Plans For Easy Payments
- No Vehicle Requisitions
Call Today and Get Funds To Support Your Monthly Expenses!
In the ride of life, uncertainty is usually a regular case. So if your backs are against the wall and your financial pillars have been shaking and stumbling you can take our help and fill up your pocket to deal with the expenses.
Just keep our number (888) 309 0994 saved on your mobile and reach out to our team during your financial emergency!