Applying for a Title Loan in Winston-Salem, North Carolina

title loans Winston-Salem NC

If you find yourself in a situation that requires urgent cash, there are several financing options you can consider. What fits you best depends on how much money you need, and how fast you can pay it back.

One of the main reasons a title loan is one of the most popular options for those kinds of situations is that no one will ask what you need it for, and no one will check your credit rating. This helps a lot of people overcome rough patches in their lives or gives them the opportunity to invest money in a project.

Do you need a title loan in Winston-Salem, NC? Title loans are convenient because they get approved quite fast, and you can use your car as collateral, while still using it freely.

What Is a Title Loan?

Car title loans are loans for amounts as small as $300. The borrower uses an asset as collateral, allowing more people to get the money they need, even if they have a bad credit score or have been rejected by banks in the past.

The most common type of title loan is the car title loan. It uses your personal vehicle as collateral, getting you the loan approved while still allowing you to use your asset normally. With Title Loan Fast, you can get a loan of up to $5,000, depending on the value your vehicle has at the moment of application.

What Requirements Do You Need to Meet to Get a Title Loan?

First of all, to get a title loan near Winston-Salem, NC, you have to own a vehicle that you paid for in full. Proof of residency is also needed, which can be easily shown with a bill in your name, a rental contract, or similar documents that have your name and address on them.

Your vehicle will also have to be covered by insurance since it serves as collateral. If you default on the payment of the loan, the lender will seize your vehicle. If you damage it before repaying the loan, the insurance will cover the costs.

Before your title loan gets approved, you will also be required to show recent pay stubs to prove that you will be able to pay back the lender.

How Is a Title Loan Repaid?

In most cases, a title loan has to be repaid in 30 days from approval. But there are lenders like Title Loan Fast who offer you a much broader time frame to repay the loan. You can pay back your loan in as long as 12 months from approval, which allows you to get a bigger amount and solve your problems without being stressed by the upcoming month.

Are you in need of an urgent cash advance? Contact us and join the list of customers receiving title loans in Winston-Salem, NC.