Use Your Car To Get Cash With Mississippi Title Loans
If your funds are tight then there are ways to get financial relief that are easy. A simple and speedy way to get cash in the face of an emergency is to get a title loan. You can borrow from the value of your car to quickly handle urgent financial emergencies, such as medical bills, unexpected travel costs, and home repairs.
In this guide from Mississippi Title Loans, Inc., we will explain the title loan approval process to show all you need to do to get emergency cash today. We will also go over title loan requirements, how much you can borrow, and address other concerns.
The Four Steps Involved In The Mississippi Title Loan Process
Borrow speedy cash today with a Mississippi title loan with us. Financial emergencies can arise out of nowhere, and getting approved for a bank loan can take a long time. When you need urgent cash ASAP, you can borrow from the value of your vehicle with a car title loan at Mississippi Title Loans, Inc.
The following are the four steps involved in the title loan approval process:
1. Fill Out Our Online Loan Form
Starting the process is easy, as you can do it right from your home with your phone or computer. On our website, there is an online contact form that will require you to provide basic information, such as your name, email address, phone number, zip code, and vehicle information. Fill this form out in less than five minutes and submit it to get started.
A loan representative at the Mississippi loan store location nearest to you will receive your information and give you a call to discuss what comes next in the approval process.
2. Speak On The Phone To A Loan Associate
During the phone conversation with our loan associate, they will verify the information you provided on your online form and ask for other information that can help in getting your approval. They will also give you an overview of auto title loans and everything you need to know about loan terms.
You can ask any questions you have about title loans to ensure you are making the best decision for your financial situation. At the end of the conversation, you will agree on a meeting location for the in-person meeting, which must be at one of our store locations for first-time borrowers. Gather your required items and head to the Mississippi store location nearest to you.
3. Get Approved At The In-Person Meeting
The loan agent will be looking for you to have the three required items for title loans: your driver’s license, a lien-free car title in your name, and a vehicle for an inspection. The driver’s license is to prove your identity and that you are over 18 years old. You must also have a lien-free car title that verifies you own the vehicle outright and the car is in your name.
After confirming you have these items, they will inspect the car attached to the car title you are using. The value of your car title loan will depend on what your vehicle is worth. They will inspect your car using a nationally recognized pricing guide to determine your car’s value.
The following are the factors that can affect your car’s value:
- Age
- Make and model
- Mileage
- Interior and exterior condition
- Service and maintenance history
- Modifications and alterations
4. Receive Your Title Loan Cash
If approved, you can sign loan documents to complete the title loan process. Before signing, make sure you ask any questions you still have about title loan terms and repayment.
After signing the paperwork, you will receive your emergency funds the same day or the next business day.
The Pros And Cons Of Title Loans
As with any financial borrowing option, there are pros and cons of title loans. You must weigh the advantages and disadvantages of borrowing money through title loans to determine if it is the right option for your financial emergency.
Some of the pros of title loans include:
- Same-day approval
- Borrow up to $2,500
- Quick access to emergency cash
- No credit check required
- Keep your car during repayment
The cons of title loans are:
- Interest rates
- Must have fully paid off your car to get approved
- Missing payments can lead to late fees
- Less valuable cars can lead to a lower loan amount
FAQs
Can I still drive my car after getting a title loan?
We do not seize vehicles when borrowers get approved for title loans. You are using your car title as collateral, not the car itself. You can continue driving your car while repaying your vehicle title loan.
How does a title loan affect my credit?
Borrowers can get approved for title loans with bad credit or no credit at all because they use collateral to secure the loan. Borrowing money this way also won’t lower your credit score because we do not report our emergency loans to the major credit bureaus.
What happens if I can’t repay my title loan?
If you miss a payment on your Mississippi title loan, you will have to pay late fees. After missing multiple payments, the loan provider may deem you unable to repay the cost of your title loan and seize your vehicle.
Get Cash Today With Title Loans In Mississippi – Borrow Up To $2,500 Today!
Mississippi Title Loans, Inc. is here to help when you need to access the value of your car. Borrow from your car’s value today with our fast and efficient title loan approval process. Get approved the same day you apply, regardless of your credit score. Apply online today with our simple loan form, or reach out to us over the phone to learn more information about title loans.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.