Title Loans in Anniston, Alabama

What You Should Know About Title Loans in Anniston, Alabama

If you’re in a financial bind and need quick cash, a title loan in Anniston, Alabama may be the answer. But you need to understand the rules, the risks, and the benefits of this type of loan before you apply.

What is a Title Loan?

A title loan is a secured loan that uses the title of your car as collateral. That means you’ll use the title of your car to secure the loan and you’ll also be required to surrender the title to the lender until the loan is paid in full. At that point, you can reclaim the title and get back possession of your vehicle.

Are Title Loans Legal in Alabama?

Yes, title loans are legal in the state of Alabama. According to the Small Loan Act of 1955, title loans in Alabama are limited to $2,500 or less. The loan must be for a duration of no more than 12 months, and you must possess a full title and registration for the car that you use as collateral.

What Are the Benefits of Title Loans?

The biggest benefit of a title loan is that you can get quick cash. Title loans are easier to get than a bank loan and there’s no need to wait weeks or even months to get the money you need. In some cases you can get approved and get the cash in hand in a matter of hours.

Another benefit is that you can keep driving the vehicle while paying off the loan. That means you can keep on with your daily life while paying off the loan in installments.

How to Apply for a Title Loan

Applying for a title loan is easy and can be done online. All you need to do is fill out the online application which requires some basic information about yourself and the car you’re using as collateral. You’ll also need to provide a few documents such as a current title and registration for the car, your driver’s license, and proof of income.

Once you submit your application, the lender will review it and get back to you with a decision. If you’re approved, you’ll need to sign the loan documents and surrender the title as collateral. The lender will usually keep the title for the duration of the loan, after which you can reclaim the title and possession of the car.

F.A.Q.

What happens if I can’t make my payments?

If you can’t make your payments, the lender can repossess the car. The lender will also likely put a lien on the car, which will remain on the car until the loan is paid in full.

How long is the loan term?

The loan term is usually limited to 12 months, but this may vary depending on the lender.

Are there any fees associated with a title loan?

Yes, there are usually fees associated with a title loan such as origination or processing fees. Make sure to ask the lender about fees before you sign the loan documents.

Apply Now

If you’re in a financial bind and need quick cash, a title loan in Anniston, Alabama may be the solution. At TheGuaranteedLoans, we can connect you with lenders that offer title loans so you can get the cash you need right away. We are not a lender, but we can help you find the lender that’s right for you. So apply now and let us help you get on the road to financial security.