If you’re new to the world of car title loans, you are likely wondering how they work, and what you’d have to do to get one.
While the process itself can slightly vary from company to company, here’s a quick rundown of car title loans in Newport, RI and how they work!
A car title loan is a short-term, small loan usually meant to offer some financial boost in moments where you need some extra cash but can’t afford to wait until your next paycheck arrives.
Usually, they have fewer requirements than other financial institutions like banks when it comes to who can borrow. For reference, here are Title Loan Fast’s only requirements:
a) A free car in your name
b) Proof of income and residency
c) Pictures of your vehicle
d) And active checking account
Some lenders may require you to physically drive your vehicle to their headquarters for an inspection, but we’ve made our process 100% online so that we can only inspect the car through the pictures you provide us.
In most cases, a car title loan stretches over a 30-day period, and in the end, you have to pay the loan back in full. At Title Loan Fast, we offer installment title loans that can stretch over 6, 9, or 12 months. The actual amount of the loan can depend on the value of your vehicle, as well as your income, but you should know that most lenders have a fixed maximum amount you can borrow. For us, that maximum amount is $5,000.
Why You Should Borrow from Title Loan Fast
At Title Loan Fast, we truly live up to our name and have created a simple and fast application process that allows our customers to apply for a loan from the comfort of their own home, and even receive the money the very same day!
Here are the benefits of borrowing from us:
- We operate 100% online, so you do not need to make any in-store visits. Simply fill out our application form here, upload the documents and car photos, and we’ll get in touch with you;
- We require no traditional credit checks and only perform online vehicle inspections. That means you also keep the car, and use it as you see fit;
- We offer installment title loans that can stretch over 6, 9, or 12 months. This way, you don’t have to worry about coming up with all the loan money at the end of 30 days, making it a lot more comfortable to borrow from us;
- We even approve same-day loans. Our cut-off time for same-day funding is 11:00 AM EST, and after 11:00 AM EST for next-day funding.
At Title Loan Fast, we’ve essentially made sure you can easily apply for a title loan in Newport, RI and receive the money you need as fast as possible. If you’re not located in Rhode Island, check out our list of states we service.
Get a Financial Boost from Title Loan Fast
If you need a fast title loan in Rhode Island, we are happy to help. Apply for a hassle-free car title loan from us now!