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Whether you are in a financial bind or in need of quick cash for a purchase, a title loan can be just the financial resource you need. One of the best alternative loan options can be ChoiceCash Title Loans in Warren City, Michigan. While getting an online loan may seem like a hassle when you’re in need of fast cash, a title loan can be the easiest resource to get your funds.
How Does a Title Loan Work in Warren City, Michigan?
Title loans are called a few different names, such as a pink slip loan or an auto equity loan. Regardless of the name, they may be easy to qualify for, and are fast loans! They work by using the market value of your car to secure funding for a loan. To qualify for a title loan, your vehicle must have a certain amount of equity. The more equity it has, the more you can potentially receive for cash!1
Since title loans are secured loans through collateral, borrowers can expect a few perks to come with their cash:
- Competitive Interest Rates: With loan options like ChoiceCash Title Loans serviced by LoanMart, eligible borrowers may have access to more competitive rates than traditional loans.
- Easy Approval: Since borrowers are using collateral to secure the loan, there isn’t much pressure for your credit history to be perfect! While your credit is considered in the approval process, it is more important to be have ability to repay the loan and equity in the collateral.1
Can I Keep My Car if I Get a Title Loan in Warren City, Michigan?
Even though you are using the title of your vehicle to secure the loan, you can keep driving it as you normally would! Responsible borrowers that make timely payments can keep driving their vehicle throughout the duration of the loan.
How Do I Know if My Car can Qualify for an Auto Equity Loan in Warren City, Michigan?
In order to be eligible for a title loan, your car must have a certain amount of equity in the vehicle. Since most borrowers are not aware of their car’s current value, there are some helpful online resources to take advantage of before taking out your loan in Warren City:
- Use the Kelley Blue Book Estimate
- Get an Appraisal Through a Dealership
- Fill out a Prequalification Form through ChoiceCash Title Loans for an Estimate
What are the Documents Needed for Title Loan Approval in Warren City?
To get approved for title loans in Warren City, there are a few requirements that borrowers will need to meet. Initially, borrowers will need to:
- Be at Least 18 Years of Age
- Have a Title in their Name
- Provide Proof of Income
After meeting these initial requirements, borrowers should have a few documents ready for the loan process. In Warren City, Michigan, borrowers will need to have these documents submitted to qualify for a loan:
- Proof of Income: This can be your paystubs, bank statements, or other forms of alternative income such as Social Security Checks. Even items like retirement benefits can count as proof of alternative income.
- Proof of Residence: Items that are approved are recent mail to your house or other statements of home address like your voter registration.
- Recent Photos of the Car: These can show all the sides, the odometer and the VIN.
- Government or State Issued Photo ID: Passport, driver’s license, or your FOID card are acceptable items.
- Title to the Vehicle: To qualify, the title must be in your name!
How Can I Get Approved for a Title Loan in Warren City, Michigan?
If your credit is less than perfect, qualifying for a loan can seem like a hassle. With loan options like ChoiceCash Title Loans, however, qualifying can be made simple! Borrowers that want to get approved for their loan simply need to follow these three steps:
- Fill out a Short Inquiry Form Online: This will just take a few minutes to do and will help guide you to the next step. Simply fill out your information on the online form about your vehicle and finances!
- Submit Your Documents: After submitting your initial inquiry, you will be prompted to submit a few documents. Simply email or fax your documents to a loan representative to find out if you are eligible for a loan!
- Get Your Approved Money1: If approved for a loan, and after completing the first steps, the last one is to choose how to receive your funds! Approved borrowers in Warren City, Michigan can choose between a few ways to collect their cash:
- Check in the Mail
- Any Local MoneyGram in Warren City, Michigan
- Direct Deposit
Don’t Wait to Get Approved
If you’re in a financial pickle, you might not have time to wait to get approved! Borrowers that want to get started on their loan can go online today or call a loan representative directly at 1(855)277-4847.