3 Surprising Facts about Title Loans in Illinois
February 23, 2021 | Mason Roberts
If you’re considering getting a title loan in Illinois, then these three surprising facts listed below will help you make the right decision. Getting title loans is one of the easiest ways of acquiring money quickly, and we’re going to explain why.
Title loans are super easy to apply for, and in most cases, you can get your cash the same day. Take a look below to discover why title loans are a good choice.
Here are Three Surprising Facts About Title Loans in Illinois
1. You Get to Keep Your Vehicle
People often think that getting a car title loan means you have to give up your car for as long as you have the car title loan. We’ve even heard people say that your vehicle will be taken from you if you get a car title loan.
The TRUTH is you get to keep your car and continue driving it the same as you always have when getting car title loans. Your title is used as collateral and remains in your possession for the entire term of the loan.
Just be sure to make your title loan payments in accordance with the terms of your loan.
2. There’s a Maximum Loan Amount
When getting a title loan on your vehicle, you can get a maximum loan amount of $4,000. However, your loan amount will be based on the market value and condition of the vehicle used for obtaining title loans.
Most people seek fast cash title loans for the convenience and the speedy process when a dire financial situation appears. In most cases, the money borrowed is used to pay off other past due debts or used for emergency situations.
If your vehicle’s market value is high enough, you will easily qualify for the $4,000 maximum loan amount. This should be able to help your finances in more ways than one and can easily be in your pocket the same day or the next business day.
3. Bad Credit Doesn’t Matter
Another misconception we hear a lot is that people think if they have bad credit, they won’t be able to get title loans. This is absolutely not true! Anybody can apply for a title loan in Illinois regardless of what type of credit they have.
- Good Credit
- Bad Credit
- Little Credit
- No Credit
Any of the above will still allow you to apply and qualify for a fast cash title loan. In fact, we specialize in working with people whose credit is far from being perfect.
Keep in mind that the amount of your car title loan is not based on your credit; it’s based on the value of your car.
So, if you’ve been waiting around trying to get your credit score up, you can stop worrying and head into any of our office locations and speak to a representative today.
Where Are We Located?
We have locations throughout Illinois and probably have one close to you. However, you can go online and start the process of obtaining a title loan on your vehicle by filling out our no-risk online form.
After that, one of our representatives will contact you to make arrangements for meeting up at one of our store locations.
What Do You Need to Bring with You?
You only need a few things to qualify for a title loan in Illinois. Once you gather these together, then you can proceed with your loan form. Here is what you need to bring with you:
- Lien-Free Title to Your Vehicle
- Driver’s License or State Issued Identification
- Your Vehicle for Quick Inspection
Our representative will verify your documents and perform a quick inspection of your vehicle. When they are finished, they will go over all the details of your form and tell you if you qualify for a title loan. Once approved, they will inform you of the maximum amount allowed.
In most situations, your money will be available to you on the same day. If not, then you will have access to your funds the very next business day.
Here, at Illinois Title Loans, Inc. we do everything possible to make your experience smooth and satisfying!
Get a Title Loan in Illinois Today
We hope that these three surprising facts about title loans in Illinois can help you make the right choice when considering title loans. It’s one of the fastest methods available for acquiring the cash you need when you need it most.