Title Loans in Piney Point, Maryland | Cash Advances at TheGuaranteedLoans.com

No title loan companies in Piney Point, MD. Consider companies in other cities:
Company name	Address	Zip code	Phone number
Farm Credit of the Virginias	13195 Garrett Hwy, Oakland, MD	21550	+1 (301) 334 - 8542
Freedom Mortgage - Melford	16900 Science Dr 112 Suites 112 & 114, Bowie, MD	20715	+1 (443) 332 - 6790
M&T Bank	8638 Liberty Rd, Randallstown, MD	21133	+1 (410) 277 - 7497
Commercial Settlement Services LLC	100 Painters Mill Rd 200, Owings Mills, MD	21117	+1 (410) 653 - 2828
MECU Credit Union - Westview Branch	5910 Baltimore National Pike, Catonsville, MD	21228	+1 (410) 752 - 8313
First Peoples Community Federal Credit Union	54 Queen City Dr, Cumberland, MD	21502	+1 (301) 784 - 3000
BB&T	10990 Johns Hopkins Rd, Laurel, MD	20723	+1 (301) 490 - 5689
Educational Systems Federal Credit Union	705 N Prince Frederick Blvd, Prince Frederick, MD	20678	+1 (301) 779 - 8500
Fairway Independent Mortgage Corporation	10665 Stanhaven Pl Suite 103, White Plains, MD	20695	+1 (240) 776 - 5731
Mlend - Millennium Financial Group, Inc.	19509 Garrett Hwy Suite 6, Oakland, MD	21550	+1 (301) 334 - 9336

No title loan companies in Piney Point, MD. Consider companies in other cities:

Company name

Address

Zip code

Phone number

Farm Credit of the Virginias

13195 Garrett Hwy, Oakland, MD

21550

+1 (301) 334 - 8542

Freedom Mortgage - Melford

16900 Science Dr 112 Suites 112 & 114, Bowie, MD

20715

+1 (443) 332 - 6790

M&T Bank

8638 Liberty Rd, Randallstown, MD

21133

+1 (410) 277 - 7497

Commercial Settlement Services LLC

100 Painters Mill Rd 200, Owings Mills, MD

21117

+1 (410) 653 - 2828

MECU Credit Union - Westview Branch

5910 Baltimore National Pike, Catonsville, MD

21228

+1 (410) 752 - 8313

First Peoples Community Federal Credit Union

54 Queen City Dr, Cumberland, MD

21502

+1 (301) 784 - 3000

BB&T

10990 Johns Hopkins Rd, Laurel, MD

20723

+1 (301) 490 - 5689

Educational Systems Federal Credit Union

705 N Prince Frederick Blvd, Prince Frederick, MD

20678

+1 (301) 779 - 8500

Fairway Independent Mortgage Corporation

10665 Stanhaven Pl Suite 103, White Plains, MD

20695

+1 (240) 776 - 5731

Mlend - Millennium Financial Group, Inc.

19509 Garrett Hwy Suite 6, Oakland, MD

21550

+1 (301) 334 - 9336

Title Loan Companies in Nearby Cities

If there are no title loan companies in Piney Point, MD, you can try to find different companies in big cities nearby. Check out the following pages here: Car Title Loans in Baltimore, MD, Car Title Loans in Bethesda, MD, Car Title Loans in Bowie, MD, Car Title Loans in Catonsville, MD, Title Loans in Clinton, MD, Title Loans in College Park, MD, Title Loans in Columbia, MD and Car Title Loans in Dundalk, MD. 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 Piney Point, MD.

Understanding Title Loans in Piney Point, Maryland

When you find yourself in a financial crunch, taking out a title loan may be the quickest way to get the cash you need. That said, it’s crucial to have a good understanding of what title loans entail, especially for residents in Piney Point, Maryland. Here, we will explore what these loans are and how to apply for one.

What Are Title Loans?

A title loan is a type of secured loan that requires the borrower to use their vehicle’s title as collateral. The loan amount a borrower can receive is heavily dependent on the value of the vehicle. Typically, title loans have a short repayment period ranging from a month to a year, and they come with high interest rates. If the borrower fails to repay the loan, the lender has the legal right to take possession of the vehicle.

Legal Status of Title Loans in Piney Point, Maryland

Fortunately, title loans are legal in Maryland, including Piney Point. However, all title lenders must be licensed by the state and follow specific regulations. For instance, in Maryland, lenders can lend up to $2,500, and the interest rates are capped at 33% per annum. If a borrower defaults, the lender has the legal right to repossess the vehicle after sending a ten-day cure notice. Moreover, the lender must sell the repossessed vehicle through a licensed dealer and apply the sale proceeds to the loan amount owed.

Applying for a Title Loan in Piney Point, Maryland

The process of applying for a title loan in Piney Point, Maryland is relatively simple. Here are the essential steps:

Step 1: Choose a Lender – As a connector service, TheGuaranteedLoans can help borrowers connect with potential lenders in Piney Point, Maryland.
Step 2: Submit an Online Application – Fill out an online application on our website with your personal and vehicle details, the title’s lien-free status and income proof.
Step 3: Wait for Approval – The lender will review the application and vehicle’s condition and determine if the applicant qualifies for a loan and what amount can be offered.
Step 4: Receive Funds – If the loan application is approved, the borrower can receive the funds through a bank transfer, check or in cash at a physical location from the lender.

Benefits and Risks of Title Loans

Like any other type of loan, title loans come with their own sets of benefits and risks. Here are some of them:

Benefits:

Quick Access to Funds – Borrowers can receive funds within hours or a few days after applying.
Easy Application Process – Unlike traditional bank loans, applying for a title loan is less complicated, with fewer requirements to fulfill.
No Credit Checks – Title loans do not require a borrower to have a good credit score. Instead, the value of the vehicle serves as collateral.

Risks:

High-Interest Rates – Interest rates for title loans are typically higher than traditional bank loans, making them more expensive over time.
Short Repayment Period – Title loans come with a short repayment period, meaning that borrowers must repay the loan within a month to a year, which might be challenging.
Potential Vehicle Repossession – If the borrower fails to repay the loan, the lender can repossess the vehicle, which could result in significant financial loss and inconvenience to the borrower.

The Bottom Line

If you live in Piney Point, Maryland, and find yourself in a financial emergency, a title loan might be a quick solution. Ensure that you understand the risks before taking out the loan. Use the title loan calculator to determine the amount you can afford to repay. Moreover, work with a licensed lender and be sure to read the loan terms and conditions before accepting the money.

Interesting Statistics about Title Loans in Piney Point, Maryland

According to a report by the Pew Charitable Trusts, the average title loan amount in Maryland is $1,034, with an average interest rate of 25% per month.
Approximately 20% of title loan borrowers in Maryland and other states have their vehicles repossessed by the lenders since they cannot repay the loan on time.
As of 2021, there are over 1,000 licensed title loan lenders in Maryland, including Piney Point.

Apply Now

If you need quick access to cash, TheGuaranteedLoans can help you connect with potential title loan lenders in Piney Point, Maryland. Fill out an online application on our website, and we will match you with a lender that meets your loan requirements. Remember, TheGuaranteedLoans is a connecting service, not a direct lender. Your connection with a lender is subject to approval, and the terms and conditions will vary.

Frequently Asked Questions About Car Title Loans in Piney Point, Maryland

Can I get a title loan in Piney Point, Maryland if I'm still making payments on my vehicle?

Yes, borrowers can still qualify for a title loan in Piney Point, Maryland if they are still making payments on their vehicle, as long as they have enough equity in the vehicle to secure the loan.

Can I get a title loan in Piney Point, Maryland if I'm self-employed?

Yes, borrowers who are self-employed can still qualify for a title loan in Piney Point, Maryland by providing proof of income through tax returns or financial statements.