Do you check my credit?
No, we do not check your credit.
How long does it take to get approved?
We usually can get you approved in 30 minutes or less. However, some things are beyond our control, like technical issues. If there is any delay we will notify you. We will contact you if there are any delays.
Do I have to have a job?
Not necessarily, you will need some type of personal verifiable income, such as automatic deposits into your checking account or some type of verifiable income.
Do I need a checking account?
Installment Title Loans do not require a checking account but it does help to get approved faster and for more money.
Does the checking account have to be in my name?
Yes it does.
How do I pay back a loan?
With an Installment Title Loan you make timely monthly payments. You can pay off at any time.
How long do I have to pay off?
An Installment Title Loan has either a 12 month or 24 month term. You can pay off at any time on any of our loans without any pre-payment penalties.
Does my car have to run and be licensed to get an Installment Title Loan?
Yes it does. We have to see and do a condition evaluation on your vehicle upon final approval of your loan. Your vehicle must be licensed in the State of Missouri.
Does the car have to be in my name?
Your name has to appear on the title as an owner. If there is more than one owner of the vehicle in which you are using as collateral, the other owner or owners will need to sign a consent form in person stating that they are fully aware that you are using the vehicle as collateral for a loan. This is required by State Law.
How much does it cost?
Short term loans carry a higher APR (annual percentage rate) than conventional lending institutions and vary greatly from lender to lender. Be sure to read and understand what the amounts are, and what the terms may be on any loan. If you are approved for a loan with us, we will go over those details with you before you make a final decision. We are a responsible lender and want you to fully understand your loan amounts, fees, interest charged, APR and the terms and conditions of your loan. The APR rate will be stated on your loan contract as prescribed by the Federal Truth in Lending Act, and is posted in our lobby as prescribed by law.
Do you check other consumer reports?
Yes we do.
Do I have to come into your office to get a loan?
Yes and no, we do most of the approval process over the phone or internet. You will need to come into our office to verify some information and pick up your money. You can always apply in person.
How do you decide how much I qualify for?
There are a lot of factors, variables and information we look at when making that decision. The most important one is if you have enough monthly income to sustain a payment, or payoff. We also look at other loan obligations (if any) that you may have already pledged to payback.
Am I able to keep my car while making payments?
Yes, you keep and use your car as normal. Nothing changes as far as that goes. The only change is that there would be a Lien on your vehicle if you decided to finalize your loan.
What is a lien?
In short, a lien is a documented transaction with the State. It shows and states that you have pledged (promised) your personal property (in this case your vehicle) to be used as collateral and that you will pay back the money you borrowed against it. It also means that if you do not make the payments or payback the lender, the lender has the right to that property to recover the monies that were loaned to you.