December 16, 2019
Looking For a Short Term Loan in Alabama? Consider a Title Loan
Where Can I Get a Short Term Loan in Florence, Alabama?
Title loans from Select Title Loans are the perfect way to get out of a bind and set oneself back on the path to greater financial flexibility. A title loan is ideal in the case of unexpected expenses, which can tend to pop up here and there for just about everybody.
Regardless of how well you have budgeted, the expenses that come up have a great way of setting you back. That does not have to happen anymore, not if a title loan in Florence, Alabama is utilized to obtain some quick cash to cover the expenses. Whether it is a leaking water pipe or an out-of-control electric bill, a title loan is a perfect way to address the expenses.
Where Do We Start?
At Select Title Loans in Florence, Alabama, you can bring a photo ID and a lien-free title and walk away with the money needed to cover whatever expenses may be. The title of the vehicle is used as collateral in this case.
It really is as simple as it sounds, too. The title loan on a lien-free vehicle will get you some cash without having to bother with piles of paperwork or futile credit checks.
The title loans amounts can range greatly, from $150 to even $5,000, depending on the vehicle’s value and the applicant’s ability to pay back the loan.
It is designed to be hassle-free and easy, and all credit types are accepted without a credit check. In less than 20 minutes, the problems can be solved with quick and available money, and the vehicle used is still allowed to be driven off the lot. The title is a mere placeholder.
There are convenient locations throughout Alabama for those in need of a title loan at Select Title Loans.
Our Reliable Reputation
Select Title Loans in Florence, Alabama stands as a business with a strong reputation and the longevity to give our clients peace of mind. We have been doing business in the area for almost 20 years. The store opened in 1998, and we have always been friendly and flexible with our clients ever since. The customer service is top-notch, and Select Title Loans is open late hours to make it easy for anyone to find a time to stop by and obtain a title loan.
What is the Title Loan Process?
The process is three steps really. The first step is to bring in the vehicle and its lien-free title, along with a photo ID. Step two is just filling out the application while the car is inspected to determine its value as collateral. The final step is approval, wherein the cash is obtained and the car in question is driven off by its owner.
This is a great short-term solution and is the quickest way to obtain a large sum of money without having to sell off precious possessions. Given that there is no credit check nor wait, peace of mind can be restored quickly, even if the applicant needs a large sum of money —since some title loans range up to $5,000 in value.
The loans are structured on a 30-day renewable contract, wherein Select Title Loans in Florence, Alabama holds the title rights until the loan is repaid, but the car remains in the possession of its true owner.
The fact that no credit check is required means that just about every person with a decent vehicle can qualify. The loans can be used to fix a major appliance, pay college tuition, settle an overdue bill, to pay a speeding ticket, cover a major medical expense, or even to cover accident expenses on another vehicle.
Why Take a Title Loan?
Whether the money is needed to cover such expenses or just “float” a person until payday, it is much smarter than employing a cash advance, which usually comes with a nasty interest rate for its applicant. The title loan, conversely, only holds the title of the car until the applicant can pay back the sum of money. It makes so much sense to obtain funds this way that anyone would be nearly silly not to consider Select Title loans to cover major expenses.
Special Prices on a Financial Bailout Available to Almost Everybody
Select Title Loans also has some specials available. Often, one can obtain a 0% interest loan for 30 days, which requires no payments made for the first 60 days. These loans are also available to those in neighboring states, such as Tennessee. It is only required that the applicant lives within 80 miles of a given Select Title Loans office.
Once the loan is paid off, the title is returned to the applicant and the slate is cleared. This method can be employed repeatedly, which continues to provide that peace of mind that Select Title Loans is able to “bail one out” of whatever circumstances may happen to arise in this unpredictable life.
Another caveat is that one does not need car insurance to get the loan, which means to some, that a vehicle that is not insured (or even driven) can still be used. The car tags can be expired, and that is actually one reason some employ the title loan — to afford tag renewal fees.
It is required that the applicant is at least 19 years of age, and some of those younger applicants have no credit history — which is also not a problem in any way whatsoever. The vehicle is the collateral, and one’s financial past is not held against him or her in employing the vehicle as collateral.
Are Title Loans Private?
All information is kept strictly confidential and never will Select Title Loans sell any personal information nor provide it to third-party callers on the phone or in person. This anonymity is a huge relief to many, as the information Select Title Loans obtains is kept private, as it should be.Read more
December 9, 2019
Are Title Loans Good Short-Term Loan Options?
Do you live near Florence, Alabama? Do you need some extra cash for unexpected home renovation or auto repair? Do you have an overdue bill or unexpected emergency that has put you in a financially difficult spot and you need cash quickly? If you do, you may find yourself in need of a short-term loan from Select Title Loans.
What Is a Short-Term Loan?
A short-term loan is a loan that is paid back over a short period, usually for a small amount of money. Short-term loans are generally required to be paid back in less than one year. Some short-term loans are for just 30 days. Long-term loans, on the other hand, are often for larger amounts of money and can usually be repaid over a period of several years, but ultimately this means paying more interest.
One of the main differences between short-term and long-term loans is the difficulty in obtaining loan approval and how fast the borrower can get the cash in hand. Short-term loans are often easier to get for those who have problematic credit. In addition, short-term loans often have a quick application process, allowing potential borrowers to get the cash they need for a financial emergency quickly with no hassle.
Short-term loan lenders, just like all other lenders, are required to follow all federal and state laws and regulations that are applicable where they are doing business. In addition, most lenders offer options for repaying loans of any size in either a lump sum or in payments spread out over a period.
What Are Title Loans?
One type of short-term loan available in Alabama is known as a title loan. Title loans can be a great option for dealing with fiscal emergencies of any kind. A car title loan is a type of short-term loan that requires collateral. The collateral used for this type of loan is your car.
In order to obtain a car title loan, you must at least be over 18 and have a valid photo ID. You are also often required to show proof of income sufficient to repay the loan amount you are requesting. This proof is often in the form of your most recent pay stub.
Most importantly, to receive a car title loan, you will have to own a vehicle with a lien-free title. What does lien-free mean? It means that you own your vehicle outright and there are no other loans you’ve already taken out on the vehicle that have not been paid back. Only one loan can be taken out on a piece of collateral at one time. If you only have a small amount to repay on your old loan, you can pay it off before taking out a new car title loan for a larger amount now that your car is free of liens.
Once you have met all the requirements set by your particular lender, they will place a lien on the title of your vehicle, establishing it as collateral for your short-term loan. There are many lenders that offer short-term loans but you will find that title loans can often be one of the best options available to you for several reasons.
Is the Title Loan Process Fast?
The application process is quick and easy. For example, the application process at Select Title Loans is as follows:
- Bring your vehicle with your title (free and clear of liens), and your photo ID to our Florence, AL location.
- Fill out a simple application while we do a quick assessment of your vehicle.
- We will offer a title loan based on the value of the vehicle and your ability to repay.
- The transaction is for 30 days, but you have the option of renewing your account for an additional 30 days by paying the interest due, or you can pay your account in full.
- You will receive your title back once you have paid your account in full.
You can receive your cash quickly. Many car title loan lenders including Select Title Loans offer same-day approval. Since you are using your car as collateral for your short term loan there is no lengthy and invasive application process like at many banks and other lenders. If you meet the eligibility requirements and have all the necessary documentation with you, the time from application to approval can be as short as 20 minutes.
With title loans, there is no need for a credit check to be run. Since you are using your personal vehicle as collateral for your loan, it is not necessary to run a credit check. So if you have any credit issues from your past, they will not prevent you from getting this type of loan as long as you can show proof of income and have a vehicle to use as collateral.
Get the cash you need quickly. Title loans offer you quick access to money in an emergency. Whether you have an unexpected expense or an overdue bill, title loans offer you a way to get cash quickly. After completing the application process you will receive your loan funds immediately without any long waiting periods.
Do I Get to Keep My Car with a Title Loan?
Best of all, you get to keep driving your car. Let’s face it, it is hard to get around and take care of your responsibilities without a car. Once you have been approved, your lender will place a lien on the title of your vehicle and hold onto it until the loan is repaid. Meanwhile, you are free to continue using the car as normal with no restrictions. Once the loan is repaid in full, the lien is removed from the title and it is promptly returned to you.
With an easy application process and quick access to cash, title loans are a great short-term loan option for those who find themselves in any kind of financial difficulty. In Florence, Alabama, the top name for car title loans is Select Title Loans.Read more
November 18, 2019
Why Using a Title Loan to Help with Winter Car Maintenance is a Good Idea
Now that winter is here and freezing temperatures are fast approaching, having your car ready for the Alabama winter can save you time and money. The last thing you want is to break down on a freezing highway when you are alone traveling to family. Here are some of the reasons you may want to consider getting a title loan in order to winterize your car and the basic things you should do to get your car ready for the weather.
Preparing your Car for the Alabama Winter
Some basic checks can save a lot of time later on such as checking your battery by popping the hood and making sure no buildup is around where the wires connect to the battery. The acidic buildup on a car battery can cause the connection to become unstable and your car may not start one day if it builds up too much.
One of the most important parts of any car is the tires. The tires are what make contact with the road and provide the traction you need to travel safely. Checking tire pressure regularly is always a good idea since you never know when you may run over a nail or a thorn that could cause a leak or even a flat.
If you live in an area where there is heavy snowfall, it is worth considering getting snow tires. These tires are specially designed but they can cost several hundred dollars. This is where a car title loan in Florence, Alabama can help you out. You don’t want to lose traction on an icy road or not be able to stop in a reasonable amount of time if your tires are bald.
4-wheel drive, if your vehicle has it, is a mechanical system that can be expensive to repair. In order to keep it in functioning condition, schedule a maintenance check with a trusted auto shop. This is also an expense that a Florence, Alabama title loan can help with.
Carry Extra Fluids
Having an extra bottle or two of antifreeze can be a good idea. It never hurts to have some extra oil on hand either. This is part of what a maintenance check would cover so be sure to ask if the service you employ checks all of the vehicle’s fluid systems.
Stock Emergency Supplies
This may seem like it is preparing for a worst-case scenario, but if your car dies or if you are forced to sit in your car for many hours if there is an accident or a road blockage you will want to have blankets, extra water, food, and even some other camping essentials such as a solar charging pad and some flashlights with extra batteries.
Since winter can be a dangerous time to be on the road, it is best to be safe now rather than sorry later. You never know when you may have an emergency and find yourself needing to stay warm or hydrated on the road. Keep in mind that a title loan is always an option but be sure to have a plan to pay it back on time and use it not just to help winterize your vehicle but to improve your credit score.
What are the Benefits of Title Loans?
Choosing a title loan is a decision that shouldn’t be made lightly without weighing the costs and benefits. Likewise, keeping a car maintained properly also has costs and benefits. For example, if you skip maintenance appointments your car is more likely to break down costing you more in the long run than if you had just kept up on the maintenance. If you are ready to get your first title loan, here are some things to consider.
Easy to Apply
Title loans in Florence, Alabama can be very easy to get since all you have to do is apply, much like for a credit card. Even if you have poor credit, most title loan companies will still lend to you but with stricter terms. One of the biggest factors that affect whether you qualify for a title loan is whether you have sufficient income to repay the loan.
Title Is Collateral
A title loan is aptly named and involves signing an agreement that provides the lender the ability to use your vehicle as collateral. If you choose to get a title loan, the office will consider the year of your vehicle when determining how much to lend. Older cars will typically fetch lower loans but a car that is newer can bring substantially more. The whole goal of a title loan is not to sell your car to the dealer but rather to use the money in a smart way and repay it on time. This can also really help build a credit score if loan payments are made on time and in full.
When you apply for a title loan, one of the choices you can make is how quickly to pay it back. Usually, a title loan office will offer a standard repayment plan but how much you decide to borrow can affect the length of the loan.
In some cases, title loans can also be paid back faster than the payment plan requires and this can help reduce the total amount of interest you pay on the loan. If the title loan was originally planned to be paid off in six monthly installments of $200, paying three monthly installments of $400 will mean the loan is paid off twice as fast and therefore less interest will be accrued.
Where Can I Find Title Loans near Me?
If you are located near Florence, Alabama, consider Select Title Loans, one of the region’s most trusted auto title loan companies. A title loan in Alabama can be an excellent way to get your winter car maintenance completed and save you money and time on expensive repairs in the winter.Read more
November 7, 2019
Understanding the Importance of Title Loans
What is the Difference Between Title Loans and Traditional Loans?
Title loans in Florence, Alabama are important as an option for individuals who need cash for any reason but can’t obtain loans the traditional way.
For many individuals, taking a loan from a bank, credit union or other financial institutions may not be an option. In order to obtain a loan the traditional way, the borrower must satisfy certain criteria in order to be approved for the loan. One of the main criteria is the borrower’s credit score.
Before being approved for traditional loans from a bank, credit union or other financial establishment, lenders use the borrower’s credit score to determine creditworthiness. Typically, the higher the applicant’s credit score, the more creditworthy they are and the higher the probability of repayment. In addition, lenders usually see a person with a high credit score as being a perfect match for lower interest rate loans.
For those seeking traditional loans, the level of income that they have is also factored into the equation. If an applicant has a higher level of income and a lower debt:income ratio, they are in a better position to repay the loan. Most importantly, those who extend traditional loans to consumers often look at the expenses that a borrower has and how it compares with their level of income. A smaller debt:loan ratio indicates that the borrower is better able to afford the loan.
All these factors are considered when it comes to traditional loans. Unfortunately, a person who has a low credit score, a low income level, and a high debt:income ratio may lack the creditworthiness to qualify for traditional loans. Because of the difficulty of obtaining traditional loans, many consumers choose to go with title loans instead.
Why are Title Loans Important?
A title loan in Florence, Alabama is valuable and important to certain consumers who struggle with being able to qualify for traditional loans. A title loan is when a lender offers a loan based on the borrower’s equity in their automobile. In some instances, the title of the car might not be considered as clear and there may be liens on the title, usually from a bank or lending institution that financed the automobile.
One of the benefits of obtaining a title loan are there are no credit checks with most title loans. This is very important for people who lack good credit and/or have questionable credit. Many people who choose title loans versus traditional loans have low credit scores that hinder their ability to get approved for loans. Title loans are important because the borrower’s approval is usually not based on creditworthiness.
With some title loans, there is often no proof of employment or income required. This is important because some borrowers do not have steady income and they may not be employed. Consider a person who may have lost their job and need a loan but can’t qualify based on income. This person could benefit from obtaining a title loan that usually does not require income. Just like any other loan, title loans require proof of residency as it is important to validate the borrower’s contact information, telephone number, address, and references.
One way that title loans are important is that they usually have contingency for the borrower’s unexpected inability to repay the full loan by the due dates. In these cases, the loan can often be rolled over to a new loan. The ability to roll loans over is important because it protects the borrower against negative repercussions that arise when a rollover is not an option. This gives borrowers a cushion to work with and wiggle room in case anything happens that prevents them from being able to make their payment.
One of the best benefits of getting a title loan instead of a traditional loan is that the borrower gets to keep their vehicle while they are repaying the loan. This is especially important because the person who is taking out a title loan usually depends on the vehicle to be able to get back and forth to work. Being able to continue working is important because it places the borrower in a better position to keep money coming in and to be able to repay the loan. Title loans are important for those who are seeking a way to get cash quickly and to be able to repay the short-term loan quickly.
Another reason that title loans are important is that successfully repaying the short-term loan may help the borrower to establish and/or improve their creditworthiness. Payment histories and transactions are reported to credit agencies like Experian, Equifax, and TransUnion. When borrowers repay their title loans, good and favorable reports are sent to the credit agencies. Receiving good credit reporting from title loan companies helps borrowers raise their credit score, improve their creditworthiness, and leaves a positive rating for any future loans. A person who had a low credit score and who lacked creditworthiness can benefit from improving their credit score, making it easier to obtain and qualify for future traditional loans.
Why are Title Loans Near Me Growing in Popularity?
There are over 8,000 title loan establishments that operate in 25 states across the U.S. Currently, over two million people use title loans as short-term solutions when they need cash quickly and lack the resources to obtain a loan from traditional banks, credit unions, and financial establishments.
Most title loans in Florence, Alabama do not have hard credit checks and they are not based on the applicant’s credit score and creditworthiness. Title loans may also be growing in popularity because they offer short-term solutions with rollover options for those who are not able to pay their loan as planned and may need more time.
Finally, title loans are growing in popularity because they create a way to help borrowers with credit issues rebuild or fix credit issues and improve their creditworthiness. Statistics show that half of title loan users use the funds to pay regular bills like rent, mortgage, groceries, transportation, etc. This is the main reason that title loans are important for consumers who are unable to obtain traditional loans.Read more
October 21, 2019
How a Title Loan Can Help You During The Holiday Season
A Title Loan for the Holidays
Many people wait for the holidays to celebrate, take some time off work, and reconnect with their family and friends. It is a festival of endless shopping, food, and social gatherings. Consequently, when the holidays are near, you always need extra cash, especially if you have a very large family for gifts, parties, or if you decide to go on vacation.
Everyone feels the pinch at Christmas! A few people can fill this gap by opting for part-time work, odd jobs, or freelance gigs. However, not everyone can do it. Gathering money to fulfill these troublesome expenditures can be intensely stressful.
According to a survey carried out by Experian, the average American spends around $846 on just the gifts during the festive season, an increase of 14% from the previous year. That is a LOT of money! The same study found that millennial shoppers are expected to spend over $1,034 on gifts this holiday season. Men planned to spend $1,050 while women planned to spend $719.
30% of these shoppers will use a credit card to shop, which means that they could not afford the gifts without turning to credit. Credit cards are a viable option, but many consumers avoid paying through a credit card because of the high-interest rates. Credit cards also require you to have a good credit score, so there’s only so much you can borrow.
What Are Car Title Loans?
Another option to pay for those expenditures is car title loans. A car title loan is a loan that requires an asset (a car in this situation) as collateral. Title loans offer flexibility, which makes them more popular among consumers.
Title loans do not need a good credit rating for the eligibility of the loan, and there are no strict application requirements. A title loan is generally approved quickly with little formality and can be for an amount as low as $100 or as high as $5,000.
The most common form of a title loan is a car title loan in Florence, Alabama. In this case, the individual looking for a loan must own a car.
If you own your car outright then it’s just sitting there depreciating in value. With a car title loan, you can leverage the value stored in your vehicle and put it to your advantage. As you have collateral for your loan, you’re able to borrow more and at a lower interest rate than if you were not using collateral to secure your loan.
Procedures to Apply for a Car Title Loan
When applying for the loan, you will need to sign the title over to the auto loan title company as collateral. In return, the company could lend up to 25% of the car’s total value. The amount borrowed can be lower or higher depending on the need and the value of the car.
Typically, that is all you need. You will fill in some basic details such as your contact details and show some ID, but a credit report is not required. You can be in and out of the car title loan company’s premises in around 20 minutes with the cash you need to see you through the holiday season.
The borrowed amount can be paid back in the form of one-time payback, or monthly recurring payments generally over a period of two years. In case the borrower fails to pay back on time, or misses continuous payments, the title loan company is permitted to take over the ownership of the borrower’s car. So this form of loan is only sensible if the borrower knows with certainty that he will be able to pay back on time.
Easily Take Care of Emergency Expenses
People generally do not have much time when the holidays are around. They do not want to get in the long bank lines, waiting for their turn, submitting a long application, and wait for their loan to be approved (or more often, not approved). Remember during the holidays, many people are short on cash and are looking for loans, making this period one of the busiest times for banks. This makes a car title loan a more attractive and feasible option for people looking for a quick alternative.
People take out car title loans in the winter for other reasons too. There could be some unanticipated costs. For example, extreme cold weather leads to more heating, and in turn higher electricity and heating bills. Appliances often break down in the winter and need to be replaced. These may include but not limited to dishwashers, washing machines, televisions, refrigerators, and so on. When you have guests coming over, you might need an extra heater or that old furnace repaired. Moreover, if you host children or friends every year, you may need extra space for them to crash. You might need to book a nearby hotel or similar establishment.
Car Title Loans Are a Viable Option
All of this holiday spending can put a strain on one’s pocket, especially if it is an unexpected emergency expense. Other than these circumstantial expenditures, one might be living in a mortgaged house. There could not be a worse time to fall behind on payments when there are holidays and you have already been drained financially. With the quick cash of title loans, one does stave of these problems until your next paycheck.
All of the reasons specified highlight the advantages of car title loans during the holidays. They are a versatile, convenient, fast, and readily available option that car owners can use in Florence, Alabama. The availability of a car title loan can be a lifesaver during the holidays once funds get low.
At the end of the day, holidays are celebrated throughout the country, and they should not be spent ruminating over financial problems. Car title loans in Florence, Alabama are a simple and fast way to ensure you and your family have a merry festive season.Read more
October 14, 2019
7 Reasons to Get a Title Loan in Alabama
Car title loans have risen in popularity in Alabama as a good way to get a short-term loan. In short, a car title loan is when you borrow money against the value of your vehicle. This makes it a secured loan so there’s less risk for the loan provider, allowing them to offer loans to a wider range of Alabamians.
Crucially, auto title loans in Florence, Alabama don’t require a credit check, so you don’t need to worry if you’ve had niggling credit issues in the past. They’re a great way to get credit quickly – you can be in and out the door in 20 minutes in the majority of cases.
Here we rundown some of the reasons that car title loans in Alabama can be a smart choice and the regulations that are in place to ensure you as a consumer get a fair deal every time.
Getting a Title Loan in Alabama
1 - Alabama Title Loan Companies Are Strictly Regulated
Alabama title loan companies are governed by strict laws that ensure consumers are protected. Alabama car title loan companies must be licensed, which means they are regulated by the state. If you ever believe a title loan company in Alabama wronged you or acted fraudulently, there are laws outlined by the state that allow you to take legal action. If you took out a loan from a title loan company that wasn’t licensed, the loan agreement would be void.
In Alabama, you must be at least 19 years old to take out a title loan. Most of the laws that govern title loan companies in Alabama are shared by pawnbrokers. This makes things like false advertising illegal, and title loan companies can’t offer insurance.
2 - Title Loan Companies Are Not Allowed to Charge Very High Interest Rates
Title loan companies in Alabama are not allowed to charge exorbitant rates of interest. If you agree to pay a set charge instead of interest, the charge is not allowed to be more than 25% of the loan per month. Many title loan providers offer lower charges than this, but it’s good to know that they cannot legally charge more than this.
3 - You Continue to Have Full Use of Your Vehicle
When you take out a title loan in Florence, Alabama, the lender can take possession of your vehicle’s title but you will have full use of your vehicle over the course of the loan. During this time, the provider will have a lien against the title of the vehicle for the full amount of the loan plus interest. This essentially means they have the first right to the vehicle in the unlikely event that you don’t repay the loan.
4 - No-One Else Can Claim Your Car While It’s Under This Agreement
While this lien is on the vehicle, no other person or business can claim the vehicle as theirs. If you have problems with creditors, you don’t have to worry about them claiming the title of your vehicle. You don’t have to worry about someone else paying the balance of the loan or making an alternative agreement with the loan provider to get your car. You are protected by law.
5 - You Have Time to Repay a Loan Even if You Miss the Repayment Date
If you can’t pay back the loan by the due date, your vehicle is not immediately turned over to the loan provider. You have an additional 30 days to repay the loan. However, if you are late with a payment, the title loan provider has the right to add an additional charge up to the value of the original charge. After an additional 30 days have lapsed, if you still haven’t made full payment then the provider is allowed to repossess the vehicle.
Car title loan providers don’t require you to jump through all of the hoops that a bank will. The transaction is simple – you’re putting your car up as collateral for a loan in the same way people use their house as collateral for a mortgage. If you pay the loan back in time, your car title is returned to you. If you don’t pay back the loan and continue not to pay it, the car is forfeited to the car title loan provider.
Because the transaction is simple, there’s no credit check required. The auto title loan provider in Florence, Alabama knows that if you fail to repay the loan that the car is there as a backup, so there’s less risk to them. They don’t need to know irrelevant details about how your credit rating was poor or you had financing issues in the past.
This makes car title loans great for a quick cash advance.
7 – You Can Use the Value of Your Vehicle to Get Better Terms
With a poor credit rating or a spotty employment record, a bank is unlikely to loan you a significant amount of money. Even getting a credit card or extending an overdraft can feel like pulling teeth.
If you’ve already paid off your vehicle, it represents value that you can use. Banks are happy to use properties like houses as collateral as they are typically worth a lot, but this only works if you already have a house fully paid off. Most people who need a short term loan in a hurry don’t have a fully paid off house!
A car title loan provider recognizes that value in your vehicle and lets you use it as collateral. In many cases, this means that you can borrow a lot more than you would be able to through other means. You may also be offered better terms, as you are getting a secured loan as opposed to an unsecured loan. This represents less risk to the provider, so can often translate to better interest rates. In the end, you could be paying back less than if you’ve chosen other forms of credit.Read more
September 24, 2019
What are the Benefits of a Car title Loan in Alabama?
Why are you hearing about so many people choosing to take out a car title loan in Alabama? Title loans have made it easier for everyone to borrow a larger amount of cash faster and at a lower interest rate than ever before. The list of benefits goes on and on.
There’s No Credit Check
A car title loan typically does not require a credit check. The lender does not need to know about your previous financial status as the loan is backed by the value of your vehicle. This is particularly useful for those who have credit issues in the past, but it also makes getting a car title loan easier for everyone.
Every time a company performs a credit check on you at your request, your credit rating temporarily drops. The idea behind this is that someone looking for credit must be in a financially unsound situation, particularly if they’ve made multiple requests for credit in a short period of time.
As car title loan companies usually don’t require a credit check to be performed, your credit rating will not be negatively affected when you apply for the loan.
Use Your Loan Any Way You Choose
Lots of loans come with conditions on what you spend them on. Home improvement loans, car purchase loans, and mortgages are all types of loan that restrict what you spend the borrowed money on so that there’s less risk for the lender.
This doesn’t help when you have a pressing need for cash for another reason. Car title loans do not restrict what you spend the borrowed money on. The most common uses for a short-term car title loan is to cover expenses when an expected paycheck is late, for car maintenance, for payment of one’s mortgage or rent, or to pay for high utility bills or medical bills.
You Can Still Use Your Car
Compared to other short-term loan options, car title loans are also more convenient. You can still use your car when you have a car title loan taken out on it. You can still use it for daily chores, getting to and from work, and everything else your family needs. Other short-term loan options often require you to leave the security item with the lender, but not so with a car title loan in Alabama.
You Can Borrow More
Loans range in size from $150 up to $5,000. This is more than you’ll be able to borrow through a payday loan or similar short-term loan that depends on your income alone.
The value of your vehicle is the predominant deciding factor in how much you can borrow, but proof of your ability to repay a loan in the form of salary statements or similar proof of income also dictates how much you can borrow.
You Can Get Lower Interest Rates
Title loans often get mislabeled as high-interest loans, but in fact, they’re usually available at lower interest rates than other options available to you. Take the case of a cash advance — the lender has very little protection against losing all of the money they’ve lent you. To compensate, they have to charge higher interest rates to cover the cost of the occasional loans that go bad.
With a car title loan in Florence, Alabama, the lender has a ‘lien’ on the car. Put bluntly, this means that if a customer doesn’t repay the loan then the company has a right to seize the car as repayment. This is obviously fair, as they’ve lent the customer the money in good faith. This rarely happens, though, as financial service companies are in the business of making loans not selling cars, so they do their best to make the loan repayable for the customer even when the customer is struggling.
As there’s less risk to the lender, there’s less need to add on interest as a loan delinquency contingency. Paired with the competitive market, this has driven down the interest rates offered by car title loan providers in Alabama.
Convenient Repayment Schemes
Car title loan providers have been ‘disrupting’ the industry since their inception, and this includes offering a wider range of ways for you to make repayments to your loan. Typically, you can make payments over the phone, have payments automatically deducted from your bank account monthly, use internet banking, make payments in person, through the company website, or set up a standing order.
If you think you may have issues making a repayment, you can talk to the lender. Car title loan providers are typically small businesses that work hard to make lending through them as easy, convenient, and versatile as possible. It’s another reason why choosing a car title loan usually makes more sense than trying to rely on an Alabama banking institution.
Say Goodbye to Stress
We know there’s a good reason that you’re seeking out a fast cash loan on a short-term basis. Everyone has times where there’s an unexpected bill that comes through the letterbox that needs to be paid now while you’re struggling to make things meet. Why continue to try and juggle all of these small items that are eating away at your monthly income?
Taking all of these small credits and loans and paying them all off with one convenient loan makes your life much easier while saving you money. Take the time to calculate how much you could save in monthly interest charges on your credit cards, bills, school fees, and loans if you pay them off all with a single, convenient car title loan. When you’ve paid off the car title loan, your car title is returned to you and you’re free from all of the burdens you’ve been under.
Do your homework; check the different options available to you from an Alabama car title loan provider. If it makes financial sense, then take out a car title loan to start using the equity you’ve stored in your vehicle to improve your life.Read more
September 10, 2019
5 Reasons to Get a Title Loan in Florence, Alabama
The explosive pace of people turning to title loans as an alternative to getting financing from a bank has been fueled by innovative companies disrupting the finance industry and finding new and better ways to satisfy the needs of the consumer. The dated finance products offered by banks and building societies no longer meet the needs of most Alabama citizens, who are often turned away for financing because they don’t meet stringent criteria or a set credit rating decided by an outdated model. Car title loan companies in Alabama offer much more flexible products to a wider range of consumers.
A car title loan simply leverages the value of your vehicle by using it as collateral for a loan. You keep your vehicle and make repayments to the loan that you can afford. You’re able to borrow a larger amount than you would be offered for a personal loan or salary loan because the collateral makes your loan less risky for all involved. This also means that the interest rate that you pay can be lower than the rates you’d pay for other alternative forms of lending.
Our Reasons To Get a Car Title Loan
1 — It’s Easier to Get a Title Loan
You have a car in your garage that’s worth money. It’s time to start putting that value to good use instead of just letting the vehicle depreciate. Select Title Loans can use this vehicle as collateral for your loan, so there’s no need to worry about outdated systems like credit rating agencies.
There’s a reason that the abolition of credit rating agencies has become one of the talking points of politicians for the upcoming election — the system is antiquated and discriminates against certain individuals who have the ability to repay a loan but are refused one.
Title loans tied to your vehicle are easy to get compared to getting a traditional loan from a bank. If you have a photo ID, a drivable vehicle without a current lien on it, that’s about all you need. We don’t perform credit checks and you can have the cash within 20 minutes. Try getting that from a bank!
2 — You Can Consolidate Your Existing Debts into One Payment
The average American has around $38,000 of debt, not including mortgage repayments to be made on their home. Some of these debts are long term and end up costing you double what you borrowed because of the accumulating interest. This is bad enough, but also problematic are loans you’ve taken out that you’re struggling to repay the minimum on.
Payday loans, short term loans, credit card bills, utility bills, etc. — these are all small forms of credit that will charge you a lot of you fail to meet the minimum repayments on time. To avoid this, you can take out a car title loan of up to $5,000 and pay all of these small loans off.
This way, you only have one loan to worry about and one repayment to make. The interest rate you’ll repay can be lower than you would repay on credit cards and payday loans, so besides it being easier to keep track of your debts it makes financial sense to consider consolidating all of these small repayments into one. You also avoid the potentially crippling cost of late payment charges on these other loans, something that can keep recurring until you’re in dire financial straits.
3 — You Avoid Incurring Additional Costs
People often come to us in Florence, Alabama because they have a pressing need for cash immediately. No-one can say they’ve never been in a situation where they needed money in an emergency. Got an unexpected medical bill? A leak in your home that needs fixing? Your car needs a new starter motor and you need to get to work each day? These are all relatable problems and we’ve all had to deal with something like this in our lives.
Without a title loan, these issues can’t be resolved in a timely fashion and you’ll see only see them getting worse. If you can’t afford to pay that medical bill promptly you might put off treatment, ultimately resulting in a more serious medical condition. You can’t pay to fix the leak, so the water damage gets worse and worse until you need to replace your ceiling or even your foundation. You can’t pay for the new starter motor so you’re resigned to use public transport to get to work, making you late for meetings and jeopardizing your future career.
Instead of putting off something that needs to be fixed now, use a title loan in Florence, Alabama to get the job done right now.
4 — You Can Continue to Use Your Car
Car title loans are similar to house mortgages in that the loan amount is secured against the item. You don’t have to ‘pawn’ your car; you can continue to use your car as you see fit and no-one will have any idea it has a lien on it. You can continue to use your vehicle for work, travel, shopping, and family trips. Once you’ve paid off your loan, the title is returned to you immediately.
5 — You’re in Charge of Your Loan
The title loans from Select Title Loans are 30-day renewable. This means that at the end of each 30 days you have the choice to pay off the loan in full or make a partial repayment. Many people like the ability to renew their loan as there’s never a point you’re forced to repay a huge amount. The loan can be used similarly to a rolling credit line so you’re always in charge of how much you repay and when.
If you have a vehicle in Alabama just sitting around doing nothing, consider a title loan to release the equity in the vehicle. Think of ways you could use some cash now rather than later and put your cash loan to good use.Read more
August 26, 2019
Understanding What Title Loans Are & Who They Can Help
It’s an unfortunate reality that there are always going to be unexpected expenses in life. That’s why Select Title Loans is here in Florence, Alabama to give you the helping hand you need.
It makes no difference how well you balance your checkbook or how closely you monitor your finances. Something is guaranteed to pop up that you just weren’t expecting. Normally you would have to turn to a friend or family member and beg for a handout. Nobody wants to do that...ever.
Use Your Vehicle as Collateral for a Loan
We are here to let you know that you no longer have to consider that option when you are in a tight spot and your air is running out. Now you have to look no further than your own garage. That’s right! If you have in your name, a vehicle with a lien-free title, then you can bring it along with a photo ID to Florence, Alabama and we can help you get the money you need to pay the things you desperately have to pay. We want nothing more than to offer you our services and ease your burden. We use your vehicle's title as collateral.
How Do Car Title Loans Work?
It sounds easy because that’s exactly what it is. With a title loan, you are able to use your vehicles lien-free title as collateral to get a quick loan with no lengthy credit checks, no endless amounts of paperwork and no hassle.
You bring in your vehicle with your ID and your lien-free title and fill out a little bit of paperwork while we perform an inspection on your vehicle. If everything is in order, and nine times out of ten it is, then we will secure your loan for you then and there that same day.
How Much Can I Borrow?
Our car title loans range from as little as one hundred and fifty dollars all the way up to and over five thousand dollars depending on when and how much you want to pay back.
Remember we are here to help you; you just have to tell us what you need. The monetary amount we are willing to award is based upon your vehicle's model and condition and how much you are able and willing to pay back.
Poor Credit Accepted
Remember, we accept people of all credit types and your credit score makes little difference to whether we’re able to lend to you. You could walk in and out of here in as little as fifteen minutes.
Not only do you now have the money to pay your bills but you also get to keep and drive your car back home. We do not hold the vehicle in any way you keep full autonomy of your vehicle, you just make payments to us so you are losing nothing.
With a title loan from Select Title Loans in Florence, Alabama you just make payments on the interest for the time specified in the deal we cut for you. After you have paid off the loan, we return the title to you along with our thanks!
How to Get a Car Title Loan in Alabama
Here we will go over the exact process of getting a title loan in Florence, Alabama just to show you how easy it really is.
- Come down to see us in Florence, Alabama, bringing your car, your photo ID, and most importantly your lien-free title. (A lien refers to a claim that any other institution such as a bank or car dealership has on your vehicle. As long as your vehicle is completely paid off and you have no other title loans then you are good to go.)
- Fill out the simple application while we inspect and evaluate your vehicle. The application will help us determine your monetary needs as well as your ability to pay the loan back and when. Every term, condition, and requirement will be plainly explained and disclosed to you so there are absolutely no hidden fees or nasty surprises waiting for you at the end. Finally, when we are both happy with the terms we will ask you to sign.
- Same day approval! If everything is settled then you can leave with the cash you need in as little as 15 minutes.
Getting a loan secured by your vehicles lien-free title has never been this easy or painless before. We are dedicated and committed to helping you out of the tough spots that life throws at us all.
We assure you the entire process is done discreetly and with complete confidentiality. We take our customers confidentiality very seriously and we promise to never disclose or especially sell your information to a third party.
We help our customers through thick and thin and even if you don’t have insurance or the car is damaged we will do our very best to serve you. As long as the car is driveable, that is, if you can drive it onto our lot, then we will inspect and evaluate it to try to work with you. All that matters is that the title is in your name and that you have a matching ID.
If you want to speed the process up even more than it already is then you can fill out the online title loan information sheet to get a jump start on it so you can walk out with your money even faster.
After you leave with your money we will have a renewable 30-day contract that we can review and alter every 30 days if need be. Our main asset is that we are flexible and willing to work with you in any situation you may be in.
We understand the need for immediate access to funds when you just don’t have it. That’s why we have been serving our wonderful clients since 1998 and we plan to continue serving you for many more years. Come down to Florence, Alabama and take a load off your mind when you walk out of here able to pay that debt that’s been haunting you.Read more
August 12, 2019
Get Your House Ready For Fall with a Car Title Loan
Fall is right around the corner and the leaves will soon be falling on the streets and yards of Alabama. If you are like millions of Americans who can’t afford a $400 expensive in the event of an emergency, there is no better way to get a head start on the cold season then with a short to-do list of important chores.
Things that are vital for homeowners include winterizing the pipes, storing equipment, and cleaning gutters. If you’re willing to do these yourself, then there’s little cost to them, otherwise you’re looking at the cost of a maintenance company. Other steps such as fixing your driveway, repairing your air conditioning units, or replacing safety items can cost money – money you might not have on hand at the moment.
If you are short on cash, a simple car title loan can be the answer for you. Select Title Loans will give you a car title loan because we know getting ready for fall takes money. With a prudent use of a loan, you’ll save money by fixing problems before they become a bigger issue that cost much, much more.
Here are ten of the most important items you’ll want to check off your getting ready for fall list.
1. Clean the Gutters
This is no one’s favorite thing to do so that’s why it’s listed first. The sooner you can clean the gutters the sooner you can check it off the list. Always be careful and use a safety ladder to reach the gutters. While you are up there, clean all debris such as leaves or dead animals so that water can properly drain.
2. Store Your Equipment
Equipment such as lawn mowers is not designed to be left out during rainy or snowy weather so it's best you store any lawn mowers, rototillers, weed whackers, or anything of the like inside a garage. If you live near Florence or Alabama, you know the weather can be unpredictably severe.
3. Garage/Cover Summer Vehicles
Just like the lawnmowers and small appliances you stored in the last step, it is equally important that your vehicles are not left exposed to the elements. If you have a particular car that you only drive during summer, be sure to park it in the garage for the fall and winter seasons. If a garage is not available, a tarp or two could also do the trick. This will help prevent sun damage and other complications when cars are left exposed to the elements.
4. Winterize Sprinklers and Faucets
It is important to drain the outdoor plumbing such as any faucets and sprinklers. This can be done quickly with an air compressor if you have one available but it is not necessary. The idea is that the more water you can get out of the pipes the better because when water freezes it expands. If there is too much water inside the pipes when they freeze, they can burst which will lead to a costly repair. Even just locating the burst pipe can be very expensive.
5. Maintenance HVAC/New Filter
First, check the filter of your HVAC system. The filter is responsible for catching all types of debris ranging from dust to allergens, small insects, and even germs. Buying a few filters while you’re at it could save you some future trips and keeping a clean HVAC filter is vital to the system’s performance because a clogged filter will put extra strain on the motor.
Another thing you can do is to do a visual inspection and be sure that nothing is blocking any of the vents. It is also worth doing a manual inspection of all of the windows and doors to be sure that they are properly sealed and nothing will leak.
6. Safety Check
This includes checking the batteries of all electronics such as smoke detectors as well as any light bulbs in the home. Be sure that your thermostat, carbon monoxide detectors, and smoke alarm batteries are all fresh and not beginning to corrode or this can cause permanent damage to the unit. It is also a good idea to have a stock of dried food and water bottles in the basement along with some extra blankets, flashlights, and anything that could help pass the time in the event a winter storm takes out the power.
7. Setup the Mudroom
Having a good mudroom is one of the best ways to keep a house clean during the fall and winter months. A shoe rack, a bench, an extra thick rug, and a shoe cleaning hedgehog are all excellent investments. That way when you come inside, you can have a place to sit down and remove your boots before tracking mud and snow through the house. A coat rack is also a great addition to a mudroom since your fall accessories such as scarves, hats, and gloves will need a place to hang.
8. Fill Cracks in Driveway
One way to stop a small crack from becoming even larger is to fill it before it starts getting cold again. Using a filler to repair cracks in driveways, walkways, and sidewalks so that water does not get in them, freeze, and expand. This will help expensive driveways and walkways last many more winters than they would without the extra help.
Use a Title Loan to Finance your Repairs
If you find yourself Googling for a “car title loan near me,” look no further. Select Title Loans proudly serves Florence, Alabama and the surrounding areas. If you come in now, you can enjoy our Summer Savings special and receive 0% interest for 30 days on any new title loans.
Select Title Loan prides itself in doing good business and supporting the local community when they need help the most. Simply bring in a drivable vehicle with a lien-free title, and a photo ID and you are ready to walk out with a title loan.Read more