Title Loans in Akron, Alabama

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No title loan companies in Akron, AL. Consider companies in other cities:

Company nameAddressZip codePhone number
Wiregrass Title Loans 2736 Montgomery Hwy, Dothan, AL 36303 +1 (334) 792 - 4987
Cash Buy Sell Or Trade 207 4th Ave, York, AL 36925 +1 (205) 392 - 4411
Gulf Shores Title Co Inc 12831 6th St, Lillian, AL 36549 +1 (866) 338 - 4853
Always Money 2851 E South Blvd A, Montgomery, AL 36116
Credit Central 121 Buck Creek Plaza, Alabaster, AL 35007 +1 (205) 621 - 9078
Capstone Finance 1515 2nd Ave Suite C-3, Opelika, AL 36801 +1 (334) 741 - 0060
World Finance 1290 E Main St, Prattville, AL 36066 +1 (334) 361 - 6330
Easy Money 500 W Meighan Blvd, Gadsden, AL 35901 +1 (256) 547 - 5600
Tower Loan 7895 Hwy 119 10, Alabaster, AL 35007 +1 (205) 605 - 7741
Check Into Cash 1215 US-231 S, Troy, AL 36081 +1 (334) 566 - 1267

Title Loan Companies in Nearby Cities

If there are no title loan companies in Akron, AL, you can try to find different companies in big cities nearby. Check out the following pages here: Car Title Loans in Alabaster, AL, Title Loans in Albertville, AL, Car Title Loans in Anniston, AL, Title Loans in Athens, AL, Title Loans in Atmore, AL, Title Loans in Auburn, AL, Title Loans in Bessemer, AL and Car Title Loans in Birmingham, AL. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Akron, AL.

Title Loans in Akron, Alabama

For many Americans, a title loan can offer fast cash in times of financial need. Title loans allow borrowers to access short-term loans by using their vehicle title as collateral. These loans are often used for unexpected bills, emergencies, or other financial needs.

While title loans are legal and popular in Alabama, it is essential to understand the laws and regulations surrounding these loans before pursuing one. Here is everything you need to know about title loans in Akron, Alabama.

How do Title Loans Work in Akron, Alabama?

A title loan allows a borrower to obtain money quickly by offering their vehicle title as collateral. The amount of the title loan typically ranges from $100 to $5,000, depending on the value of the vehicle. The loan term lasts for 30 days, and if the borrower is unable to repay the loan in full, they have the option to roll it over for an additional 30 days.

Unlike traditional loans, title loan lenders usually don’t require a credit check or proof of employment. This makes title loans a popular option for individuals with poor credit or no job.

Are Title Loans Legal in Akron, Alabama?

Yes, title loans are legal in Alabama. However, there are strict regulations regarding the interest rates and fees that lenders can charge. The maximum interest rate for a title loan is 25% of the loan amount per month or an annual percentage rate of 300%. Lenders may also charge an origination fee of up to 5% of the loan amount.

Alabama law also requires title loan lenders to provide written contracts that outline the terms of the loan, including the interest rate, fees, and the vehicle’s resale value. Borrowers have the right to read and ask questions about the contract before signing it.

What Happens if You Can’t Repay a Title Loan in Akron, Alabama?

If you are unable to repay a title loan in full, you have the option to roll it over for an additional 30 days. However, this comes with additional fees and interest, and can result in a cycle of debt that can be challenging to break.

If you cannot repay a title loan after multiple rollovers, the lender has the right to repossess your vehicle. The lender can then sell the vehicle to recoup their losses. Alabama law requires lenders to provide a 10-day notice before repossessing a vehicle.

Interesting Facts and Statistics about Title Loans in Akron, Alabama

  • There are over 1,000 title loan lenders in Alabama
  • In 2019, Alabama title loan borrowers paid over $317 million in fees and interest
  • The average title loan in Alabama is $951
  • Over 18,000 vehicles were repossessed by title loan lenders in Alabama in 2019

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Are you in need of fast cash? TheGuaranteedLoans can help connect you with potential lenders for a title loan in Akron, Alabama. Fill out our online application to get started today. Remember, TheGuaranteedLoans is a connector service and not a direct lender. We will facilitate your connection with potential lenders who can provide the loan you need.

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Title Loans Available in Akron, AL By The Following ZIP Codes:

35441

Akron, AL title loan calculator

Frequently Asked Questions About Car Title Loans in Akron, Alabama

Can I get a title loan in Akron, Alabama without a bank account?

It may be possible to get a title loan in Akron, Alabama without a bank account, but it will depend on the lender's policies. Some lenders may require you to have a bank account, while others may offer alternative ways to receive and repay the loan.

Can I get a title loan in Akron, Alabama on a leased car?

It is generally not possible to get a title loan in Akron, Alabama on a leased car, as the borrower does not own the vehicle outright. In most cases, the lender will require the borrower to own the vehicle in order to qualify for a title loan.