There are over 8,000 licensed car title loan lenders in the U.S. That’s a lot of loan lenders to research. With more than 2 million people using title loans yearly, there’s a competition to find the best loan lender.
So if you need to know loan places in Springfield, MO, we can help. And you won’t have to keep asking yourself, “How do I find car title loans near me?” You can relax, knowing we have the answers.
With our helpful tips, you’ll learn the basics about car title loans. And the good and bad signs to look for in loans and lenders. We’ll even go over how to apply, so you can find out how easy it is to get the cash today.
Ready to earn a little extra cash? Then continue reading! And in the end, you’ll learn why Quick Loans is the best loan place to choose.
What Are Title Installment Loans?
Car title loans are most often short-term loans with a slightly higher interest rate than traditional banks. But for these kinds of loans, you typically don’t need excellent credit, giving most borrowers the chance to get the money they need.
To get title installment loans, after you’ve applied and been approved, you simply hand the title to your vehicle over to the lender. They will keep it as collateral as you repay your loan amount. And once you’ve repaid your loan, the lender will give you back your car’s title.
Title installment loans allow you to pay your loan back monthly versus having to pay back the loan once. This is a more affordable option that gives borrowers more power and wiggle room.
While considering installment loans in Missouri, you should know that most title loans usually pay out 25 to 50% of your car’s value. And some loan lenders will even require that you install a GPS if you cannot pay back your loan in time, and they need to track down your vehicle to repossess it.
If a lender repossesses your vehicle, they can sell it, and in some places, they can get more cash for it than you got with the loan. That’s why knowing how to find the best title loan in Springfield, MO, and the most trusted lender is essential.
Tips for Picking the Best Car Title Loan in Springfield, MO
It’s crucial to know the signs of an excellent lender and aspects of the best car title loan. When you know what to look for, you’ll avoid the risk of predatory lenders. And you’ll also be able to identify malicious terms which could lock you into long-term debt that can exponentially increase over time.
Here are good signs to look for:
- Low-Interest Rate
- Long-Term Loans
- Good Customer Reviews on BBB and Google
- Loan Provider Has Years of Experience
There’s another thing to remember. Some lenders will offer 24 or 48-month loan terms with no prepayment penalties. This means you’re more likely to have low monthly payments that are more affordable than loans with shorter terms.
Suppose you’re researching car title loan companies and find bad reviews. In that case, it’s a good idea to look at what customers say and see if the company responded to them. When companies choose to take the time to respond to customers online across multiple review platforms, it’s a sign that the business cares and values its clientele.
4 Warning Signs to Watch Out For
Below you’ll find that we included some warning signs to watch out for when evaluating which loan and lender to choose. If you see these four signs, you will know that chances are this lender is not trustworthy, and there’s an increased probability that you’ll be getting into more debt fast.
1. Triple-Digit Interest Rates
Lenders with high-interest rates and oversimplified applications are looking for people to bleed dry. Often with nefarious loan places, you’ll see triple-digit interest rates, and they won’t require a credit check in the application process. This means they don’t care about an applicant’s credit history and if they can pay off debts.
2. Interest-Only Title Loans
With interest-only title loans, all your payments will go toward the interest and potential late fees instead of what you owe the lender.
3. 30-Day Title Loan Terms and Rollover
Be wary of places that have 30-day title loan terms and offer rollovers. When a rollover occurs with a 30-day title loan that hasn’t been paid off on time, the interest rolls over. This is a simple way to get into debt that can’t be paid off since payments will be put toward the interest instead of the principal amount owed.
It’s essential to remember that if you choose a car title loan with 30-day terms and cannot pay it off in time, the lender can repossess your car.
4. Early Termination Fees for Prepayment
Not necessarily a bad sign, but it’s a good idea to be aware if there are any early termination fees for prepayment in the loan terms. If you think you’ll be able to pay off the loan faster than the term, it’s a huge advantage not to be penalized for prepayment. This will save you time and money.
The Best Loan Places in Springfield, MO
If you’re in Springfield, Missouri, the best loan place is Quick Loans. And there are many reasons why we are the most trustworthy loan provider around.
At Quick Loans, you can:
- Customize a repayment plan tailored to your needs
- Instantly get the cash you need today
- Pick a loan with the lowest interest rate in the market
- Relax knowing there are no additional fees
- Save your credit score if you tell us not to report your loan
- Experience our excellent customer service
We offer solutions to your cash needs with our loans, not more problems. This is why hundreds of our customers love our service, making us the #1 provider for loans in Springfield, MO.
And you’ll get a competitively low-interest rate and the maximum loan amount with us. That’s why our Missouri loans are so popular.
A Loan Lender You Can Trust
We believe in focusing on giving our customers the best service in the industry. And this is probably why we have an A+ rating from BBB.
Our mission is to communicate effectively to ensure we are fully transparent with our treasured clients. Our goal is to ensure that every relationship with creating with our customers is founded on trust and respect.
Our title installment loans provide you with the flexibility to borrow what you need or a bit more. Usually, our customers choose short-term loan terms between six to 24 months.
You can pick a bi-weekly or monthly payment plan for your title installment loan. And you’ll always be able to repay it anytime without prepayment charges.
And with us, you can even consolidate loans with high-interest rates. We can help you reduce various loans, including payday and signature loans. We’ll even help if you have multiple loans, medical collections, and bills.
How to Get a Car Title Loan With Quick Loans
Our application process for getting a car title loan is easy. Taking barely any time at all, once you’re loan’s approved, you can get cash instantly.
Fill Out An Application
To start, you will fill out a form. You will need to provide proof of a valid form of ID as well as the title for your vehicle. After you’ve given all the required information, you will send it to our email, manager@moquickloans.com.
We’ll Review Your Information
Our team will quickly review your application. And If you’re wondering, “What’s the title loan value of my car?” Don’t worry.
Quick Loans will determine your car’s value. Once we assess it, we’ll calculate your loan’s terms.
Congratulations! You’re Approved
We’ll approve your loan if we’ve determined that your application meets our basic qualifications. And then, you’ll be able to borrow the total cash value of your vehicle without any limitations.
Apply for a Car Title Loan With Quick Loans
We’ve given you the tips you need to look for title loan places in Springfield, MO, and we told you about us too. You’ll have the knowledge you will need to make wise and informed decisions while looking for Missouri loans.
And hopefully, now you know why Quick Loans is the best place to pick. We are a trusted provider of find Missouri installment loans and Missouri title loans, and we care about our customers.
Do you need cash right now? Then apply today, and we’ll help you regain control over your debt!