THINGS TO KNOW ABOUT ChoiceCash ?

BENEFITS OF A CHOICECASH TITLE LOAN IN MINNESOTA

Since a title loan is secured through a vehicle title, it could offer many benefits that a traditional loan may not¹. Inquiring about a ChoiceCash title loan means you could get exclusive perks that add to your overall loan experience¹.

Take a look at some of the benefits you could take advantage of with a Minnesota title loan:

  • No Hidden Fees¹: Although traditional loan options work to give people the funding they need, that doesn’t mean they have your best interest in mind. Many lenders can stun borrowers with hidden fees that leave them in a tough financial position. But with a ChoiceCash title loan, you wouldn’t have to worry about that¹! You could expect transparency at every step of the loan process¹. There are also no balloon payments or prepayment penalties. 
  • Quick Funding¹: Many lenders can take a long time to process your application before agreeing to lend you money. It can be inconvenient when you have a limited time to cover your expenses! But things could be different when you inquire about ChoiceCash title loans. Qualified borrowers could receive their funds in as little as one business day¹!
  • Payments That May Decrease²: Wouldn’t it be great to be rewarded for being a responsible borrower²? With a ChoiceCash title loan, it may be possible²! When you’re on time with your loan each month, your monthly payments and interest rate may decrease²!
  • Competitive Interest Rates¹: Interest is one of the essential factors of a loan because it could determine how much you’d pay throughout the entire repayment process. The lower the interest rate, the less you’d have to pay off the loan. However, a problem with most loan options is their excessive and costly interest rates; you’d end up with more debt than before! Fortunately, a ChoiceCash title loan may have competitive rates for qualified borrowers to take advantage of¹.
  • Flexible Online Approval Process¹: The added advantage of collateral is that you can expect an inquiry process that is flexible and hassle-free¹. You could still qualify for quick funding despite your financial background or credit history¹. It could also be convenient when you can do the approval process from the comfort of your home¹! You might only have to take a few minutes to get through it all¹!
  • Keep Your Car: It’s understandable to worry about your vehicle’s whereabouts when obtaining approval for a title loan. Remember that auto title loans work by using your vehicle title as collateral for the loan. That means you could continue to drive your car throughout the loan duration as you normally would! But, you must be on time with your monthly installments to maintain this privilege.

Borrowers that inquire about ChoiceCash title loans can also benefit from excellent customer service! ChoiceCash title loan agents are available six days a week for extended hours to assist you with any issue you may have. You can expect to speak to a knowledgeable and thoughtful representative when you dial 844-950-2038!If you’re already on the line, don’t hesitate to ask them any questions you may have on any of the previously listed perks.

WHAT ARE THE CAR TITLE LOAN REQUIREMENTS IN MINNESOTA?

Rather than requiring you to have a perfect credit score like many traditional lenders, the requirements for a title loan work differently. Since car title loans gain security through the equity in your car, the approval conditions could be flexible for people from various financial backgrounds. 

The most important determining components of the requirement for title loans consist of the following:

  • The Vehicle’s Equity 

To qualify for an auto title loan, you must have positive equity in your car. This means that you have enough positive equity to secure a loan amount via collateral. The amount of equity a title loan lender can find in your car will determine whether you qualify and how much money you could access with your loan amount¹. You must have the title of the vehicle you’re using, and it must be in your name. 

  • Your Ability to Pay Off a Title Loan

Another essential determining factor for approval is your ability to repay the loan. Instead of just relying on your credit history, your title loan lender will look at your overall income to verify that you can afford the monthly payments. Your credit history will still be considered, but it will not be the only factor that is considered.  Fortunately, you don’t need a traditional 9-5 job to satisfy this requirement¹; you could just present an alternative source of income to prove you can repay a title loan¹!

ONLINE MINNESOTA TITLE LOANS

With a Minnesota car title loan, a borrower can use their car’s title to secure funding. A title loan is a unique opportunity for borrowers to access their vehicle’s available equity and turn it into cash!

As you may already know, auto title loans are secured through collateral, which means the approval process could be much more flexible for borrowers without a strong credit history¹. With a car title loan, you are using your vehicle title to secure your cash, rather than just your credit score.

Remember, the two qualifying factors for an auto title loan are:

  1. Your Ability to Make Title Loan Payments
  2. The Value of Your Collateral and the Available Equity

DO BORROWERS NEED A VEHICLE INSPECTION TO ACQUIRE TITLE LOANS IN MINNESOTA?

Borrowers that want to acquire a car title loan in Minnesota must subject themselves to a car inspection. That is required to verify the vehicle’s condition and to determine its current value. It can be a huge inconvenience for most car owners to drive to a physical location just to get a car inspection done. But luckily, there may be a convenient option through a ChoiceCash title loan that could work for you¹!

Why should you leave anywhere if you can apply for a title loan online? With a ChoiceCash title loan serviced by LoanMart, you can skip the in-person inspection and do it online! You would only need to take a few clear and visible pictures of your vehicle’s front, back, sides, odometer reading, and Vehicle Identification Number(VIN #). Once they are ready, you can send your images online via email or fax!

After this step, you may be ready to collect the funds you need for a financial emergency¹!

THE REQUIRED DOCUMENTS FOR A TITLE LOAN IN MINNESOTA

A ChoiceCash title loan agent may ask you to submit some documents as part of the approval process for a title loan. These documents can help them verify your information and speed the loan process along¹! People could worry about finding the right documentation, but don’t stress! They are documents that you could easily find lying around your house or car¹! Once you have them, you could access the same online portal you inquired about a title loan with. From there, you can quickly send in your information¹.

Contact a ChoiceCash title loan representative to see if Minnesota requires you to have additional documentation. However, you can anticipate submitting the following information during the approval process: 

  1. Prove Your Income By Providing Recent Bank Statements, Pay Stubs, Retirement Income, Worker’s Compensation, Etc.
  2. Proof of Minnesota Residency
  3. Some Professional or Personal References
  4. Proof of Government-Issued Identification, Such as Your Driver’s License, Passport, or Other Certified State Identification Cards.
  5. A Vehicle Title in Your Name

Submitting these documents online means a ChoiceCash title loan agent could respond to you in no time¹! Get started on your title loan with speed and ease when you inquire about a ChoiceCash car title loan¹! 

IS PERFECT CREDIT REQUIRED TO APPLY FOR A TITLE LOAN IN MINNESOTA?

You do not need to have perfect credit to apply for a title loan¹. A title loan lender may still run a credit check during approval. But don’t be alarmed! It’s typical for most, if not all, lenders to run a credit check during the loan application. Although it may not hurt your chances of eligibility, it is still something you should be aware of.

Suppose a title loan lender does want to conduct a credit check. In that case, you would go through what is known as a hard inquiry check. It happens when you agree to proceed with the loan agreement after a lender preapproves you for a loan. Unfortunately, it could take off some points from your credit score, but you could see it improve with time and effort!

Talk to a ChoiceCash title loan representative if you have any concerns about your credit history affecting your chances of loan approval¹.

CAN I APPLY FOR A TITLE LOAN IN MINNESOTA IF THE TITLE IS NOT IN MY NAME?

If the vehicle title is not in your name, you cannot currently use it to apply for a title loan in Minnesota. However, do not let that stop you from applying for the financial help you need in Minnesota. ChoiceCash title loans can offer Minnesota residents some extra support if needed, which includes pointing them in the right direction to get their vehicle title in their name again. 

To transfer the vehicle title to your name in Minnesota, you must visit your local Department of Motor Vehicles (DMV). When you visit the Minnesota DMV or SOS office in person to inquire about a title transfer, you will usually need the following:

Government-Issued Photo ID

Car Registration

• Completed Car Title Transfer Form

Money for the Transfer Fee

Have questions about how to get a duplicate title or on how to transfer a car title in Minnesota? ChoiceCash title loan agents can help Minnesota residents by calling 844-950-2038.

WILL MY INCOME QUALIFY FOR A TITLE LOAN IN MINNESOTA?

Are you a Minnesota resident that does not work a 9-5 job? While your alternative income may disqualify you from other loan options in Minnesota, a title loan can be different. With loan options in Minnesota like ChoiceCash title loans, you will need some proof of income or alternative income during the approval process. Luckily, alternative forms of income can be accepted in Minnesota, including:

  • Annuity Payments or Retirement Income
  • Pension Income
  • Settlement Income
  • SSI(Supplemental Security Income) or Disability Income
  • Worker’s Compensation
  • Self-Employment

If you have the paperwork to prove your alternative income in Minnesota, you can easily find out if you qualify for the cash you need! Some documents that can be used to verify your alternative income in Minnesota for a title loan are:

  1. Bank Statements
  2. Pay Stubs
  3. Tax Forms
  4. Disability Award Letters
  5. Settlement Letters
  6. And More!

Even if you do not have a traditional 9-5 job, you may still qualify for the cash you need in Minnesota. ChoiceCash title loans can offer Minnesota borrowers a flexible approval process and money in as little as 24 hours after loan approval¹!

WHAT IS THE TITLE LOAN APPROVAL PROCESS LIKE IN MINNESOTA?

Ready to see if your vehicle can qualify for a title loan in Minnesota? ChoiceCash title loans can make the process fast and straightforward for Minnesota residents! Take a look at the quick, three-step process available online from anywhere in Minnesota:

  1. Send in a Loan Inquiry Online, or Over the Phone
  2. Submit a Few Documents to Verify Your Information and Minnesota Residency
  3. Collect Your Cash if You are Approved1!

In Minnesota, approved borrowers that acquire a ChoiceCash title loan have a few different ways to collect their cash:

  • Through Direct Deposit to a Checking Account
  • Pick up your Cash at any Participating Money Transfer Location Near You
  • Delivered by Check to a Minnesota Address

Ready to see if your vehicle qualifies for the cash you need in Minnesota? ChoiceCash Title Loans can help approved borrowers in Minnesota get cash in as little as 24 hours¹!

How Can I Pay for My Car Title Loan in Person?

Pay for your car title loan at any MoneyGram location in Minnesota. MoneyGram is often located in convenient public stores such as Wal-Mart, Kroger, or CVS. Call 844-950-2038 to discuss your options with a loan expert, or see the map and location list below to see where your nearest MoneyGram is located:

For the sake of convenience for Minnesota customers, below is a map and list of just a few locations in the area, with many more statewide locations found here.

What Locations in Minnesota Can I Get a ChoiceCash Title Loan in?

ChoiceCash is proud to service residents all over Minnesota including metro areas . Call 844-950-2038 to discuss your options with a loan expert. If you are looking to pay back your title loan in person, check out the city list below to see where your MoneyGram locations near Title Loans Minnesota: