6 Things To Do Before You Get A Meridian, MS Title Loan
If you are in Mississippi and struggling to make an unforeseen payment, a Meridian, MS title loan is an option. Whether it's medical bills or home repairs or something else entirely, crises often call for quick influxes of cash that you may not have. Thus, you can turn to a title loan.
However, there are a few things you need to do before being able to get a title loan. From calculating the amount you truly need to gathering your documents and ensuring everything is in-date, these tasks should happen before starting your application.
So, this article explores the main six things you should do before trying to acquire a title loan in Meridian.
6 Things To Do Before Getting A Title Loan In Meridian, Mississippi
1. Collate Your Documents
To get a title loan you need your vehicle, an ID card issued by the state government, and a lien-free vehicle title. While we're sure everything is in order, it's worth gathering them together before you start applying to ensure your information matches and your ID card is in date.
Usually, we recommend using your driver's license, but any form of government-issued, photo ID will do.
As for your title, it must be lien-free. Unfortunately, we can't accept other types of titles.
2. Know Your Vehicle's Value
Your car, truck, or van determines the amount of money you can qualify for (between $300 and $2,500). Therefore, it's vital to understand how we value your vehicle to avoid disappointment at a later stage in the application process.
The following factors might be analyzed to decide how much your car is worth:
- The odometer reading — The higher your car's mileage, the less it's worth. Although, this doesn't always ring true. It depends on the age of your vehicle. Average usage is considered between 10,000 and 12,000 miles a year. So, a two-year-old car with 24,000 miles on the clock may have a reduced value.
- The make and model — Of course, some cars are worth more than others. Luxury brands come with higher price tags thanks to their superior statute and high-tech features. Owning a higher-end car will give you a better chance of receiving the maximum loan amount.
- The age — Cars lose over half their value throughout the first five years. It's an important metric for worth calculation. But mileage does play a part here, as previously mentioned.
- The condition — A well-looked-after vehicle is worth more than a poorly maintained one.
- The modifications (if applicable) — Spoilers and decals may lower the value. However, installing a new engine could boost its worth.
3. Calculate How Much Money You Require
Don't ask for the maximum loan amount just because you can. Instead, work out how much you need to fund your crisis and apply for that specific amount. That way, you won't have to repay a loan figure you never needed in the first place. It makes a lot of long-term sense.
4. Ensure Your Situation Justifies A Meridian, MS Title Loan
Now, it's time to consider — do you really need this loan?
Never take out a Meridian, MS title loan to fund shopping sprees, by gifts, or cover the cost of impulse purchases. Instead, save them for emergencies, such as
- Medical bills
- Vet bills
- Home and vehicular repairs
- Urgent travel costs
5. Make Sure Your Car Title Is In Your Name
To acquire a title loan from us, your car's title must be in your name. If it isn't, you must head to the DMV and request a title transfer.
You can then apply for a title loan once the transfer is complete.
6. Understand The Process
Finally, you should understand the application process before starting. Luckily, it's very simple.
All you need to do is fill out the online form and wait for us to get in touch.
After the phone call, we'll meet at your chosen location (it doesn't have to be our store) to verify your documents and evaluate your vehicle.
If you're satisfied with the figure we propose, sign the documents. You'll get the money within 24 hours.
Your Checklist To Get A Title Loan In Meridian Today!
Let's quickly run through everything you need to do before getting a Meridian, MS title loan to ensure you have everything you need.
Remember to:
- gather your documents
- know our valuing system
- calculate the amount of money you need
- justify getting the loan
- make sure the title is in your name
- understand the process
Once you've completed the above, fill in out our form, and we'll get in touch almost immediately following receipt of your information. We never waste your time. Fund your crisis in as little as 24 hours with our title loans today!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.