Car Title Loans - Title Loans in Alabama
Whether you work in health, engineering or computer sciences in Alabama, there may come a time when you are running short on cash. Even with the best planning, many of us are taken by surprise with an overdue bill or an emergency visit to the doctor. That’s when vehicle title loans in Alabama come to the rescue. If you find yourself with financial problems and need an immediate source of fast cash, Alabama Car Title Loans is there for you. We understand how difficult it can be for some people to qualify for loans, especially if you have bad credit. However, our loan qualifying program does not rely on credit. Instead, you secure the loan with the title to your auto, so credit checks are not needed. We have helped thousands of folks to secure short-term loans with affordable repayment plans and good interest rates. It is easy to apply online, and borrowers retain the use of their vehicle during the loan period.
The Application Process for Title Loans Alabama
Loan Requirements
- Alabama Car Title Loans can accept trucks or cars in working order to meet collateral requirements.
- To legally enter into a contract for a car title loan in Alabama, you must be at least 18 years of age. We ask all applicants to confirm their age with an Alabama state identification card or their driver’s license.
- Vehicles must be paid off. Car titles should list you as the owner and must be free of liens.
- Income is a requirement for obtaining title loans Alabama.
Completing an Online Application
Loan applications are free of charge, so we encourage everyone to apply. To get started, you’ll need the following information:
- Your home zip code, full name and a telephone number.
- The make, model, body style and age of your vehicle. Your odometer reading or a mileage estimate.
How the Auto Title Loan Process Works
Applying
In addition to online applications, we can also accept applications at any nearby loan center store or over the telephone if that is your preference.
Loan Consultations
After receiving your application submission, we provide you with a loan estimate to help you make financial decisions. You will receive a call from one of our loan representatives shortly after applying. To complete the application, your rep will speak with you about sources of income, which could be used to qualify for the loan. He or she will explain the terms of the loan and offer you a variety of loan repayment packages. To legalize the process and confirm the loan details, borrowers are asked to read and sign a contract.
Contracts
Alabama Car Title Loans is responsible for drawing up a contract, which meets state regulations in Alabama. Contracts typically include the terms of the loan and summarize verbal agreements discussed during the loan consultation. Contracts will include the following information:
- The total cost of the loan.
- Applicable fees.
- Repayment schedule.
- Minimum payment amounts.
- The Interest rate and the cost of the interest.
Since autos are used to secure loans, it is a smart idea to ask questions about anything that may be unclear or confusing before signing a contract.
Closing Loans
Borrowers are asked to come to a loan center store to sign a contract and turn over their car titles to complete the requirements for title loans Alabama. You may collect your loan funds at this time.
Learning About Car Title Loans
Collateral
Title lenders can save time and money by securing loans with collateral. In our case, loans are secured using paper car titles to vehicles. During the loan period, a lien is placed against the car title. Liens are temporary and will be returned as soon as the loan is paid for in full. It is important that borrowers understand they could forfeit their autos if they fail to make payments according to their agreements.
Online Applications
Most applicants are delighted to know they can apply online from a computer with an internet connection. It takes less than five minutes to apply and submit your application.
Loan Amounts
Loan amounts are derived from the market value of your auto offered as collateral. We also take into account your ability to repay the loan and your income. Car market values are determined using Kelly Blue Book as a source of information. Depending upon the condition of your auto, you could be approved for a few hundred dollars or several thousand. Naturally, newer autos with less wear and tear rate higher loan amounts.
Credit Checks
To provide a faster loan process and get more people approved for loans, we don’t pull credit reports or credit scores. So, anyone with a bankruptcy or a poor credit score doesn’t have to worry about credit qualifying for a loan.
Paying Off Loans Early
Let us know if you wish to pay your loan in full. We will be happy to make the arrangements, and there are no fees for paying off loans early.
Vehicle Use
Unless you have another source of transportation, you’ll need your vehicle to run errands and get to work. Therefore, we never impound cars or place driving restrictions on borrowers.
Spending Loan Funds
Funds from vehicle title loans in Alabama can be spent on anything the borrower wants. Use your cash to buy groceries, make home upgrades, cover college tuition or pay off high interest debt.
Qualifying for Loans
Retirees, self-employed folks and those working regular jobs part-time or full time can all qualify for a car title loan in Alabama. We accept a number of flexible income sources such as Social Security benefits, retirement funds, welfare, disability benefits, alimony, unemployment benefits and more.
If you need cash for an emergency, funds to make repairs or money to pay rent,
Alabama Car Title Loans is ready to help with title loans Alabama.
Contact Us
(888) 224-8177