Are there any Risks with a Title Loan?

Like with any loan, there are some risks with a title loan. However, these are almost entirely preventable ones! By being a responsible borrower in Grand Rapids City, you can avoid these risks:

  1. Repossession: With a title loan, you will use the title of your vehicle as collateral for the loan. This means, if you fail to repay the loan or keep up with your payments, you could have your collateral repossessed. This is entirely avoidable by making your payments on time. If you are experiencing any financial changes such as a job loss, its best to notify your lender to potentially work out alternative payment options.
  2. Interest Rates: The lender or loan option you choose is the most important part of your loan! With title loans and other alternative loans, interest rates can be unreasonably high. Interest is one of the most important parts of your loan, as it controls how much you’ll pay off in the long run. With loan options like ChoiceCash Title Loans, approved borrowers can expect competitive interest rates!
How Can I Get a Title Loan Online in Grand Rapids City?

Getting a title loan online can be easier than it seems! While many traditional loans are usually done in person and can take weeks to validate, a title loan may be completed online for convenience! With funding options like a ChoiceCash Title Loan, borrowers can expect their loan inquiry to take just a few minutes to complete. To get started, borrowers looking for title loans in Grand Rapids City need to complete these steps:

  1. Fill Out a Short Questionnaire: This is the first step, and the easiest! This form acts as a prequalification for your loan and will just take a few minutes to complete.1 Simply fill out your basic information about your loan, and you’ll receive information about your next step.
  2. Submit a Few Documents: Once you’ve submitted the inquiry form, there are a few documents that a loan agent will require you to fill out. Fortunately, these are documents you’ll likely already have for your convenience. Borrowers in Grand Rapids City, Michigan will need to submit these documents online for approval:
    • Title to the Vehicle
    • Proof of Income or Alternative Income
    • Proof of Residence
    • Government or State Issued Photo ID
    • Recent Photos of the Vehicle
  1. Get Your Approved Cash1: If approved for a loan, and after submitting documents, the last step is to receive approval! Borrowers that are approved for a ChoiceCash Title Loan in Grand Rapids, Michigan can choose between a few different ways to get their money:
    • Any Local MoneyGram in Grand Rapids City, Michigan
    • Check in the Mail to Your Home
    • Direct Deposit
Don’t Wait to Get Your Cash

 Whether you need cash for a rainy day or your savings, don’t wait to see if you qualify! Go online and find out if you are eligible for cash in one business day.1