Title Loans in Welcome, Maryland

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

Company nameAddressZip codePhone number
Hebron Savings Bank 101 N Main St, Hebron, MD 21830 +1 (410) 749 - 1185
Universal Title - Towson 1122 Kenilworth Dr 317, Towson, MD 21204 +1 (443) 327 - 3765
Fast Stop Tag & Title Service LLC 22340 Three Notch Rd, Lexington Park, MD 20653 +1 (301) 863 - 2886
Brennan Kimball Fairway Independent Mortgage Corporation Loan Officer 2227 Old Emmorton Rd Suite 222, Bel Air, MD 21015 +1 (410) 600 - 3392
BB&T 13350 New Hampshire Ave, Silver Spring, MD 20904 +1 (301) 384 - 9601
WOR-CO Federal Credit Union 1506 Market St, Pocomoke City, MD 21851 +1 (410) 957 - 4521
Hebron Savings Bank 6 E Cedar St, Cambridge, MD 21613 +1 (410) 228 - 9202
Chessie Federal Credit Union 122 E Union St, Cumberland, MD 21502 +1 (301) 724 - 2777
SunTrust Mortgage 321 Ballenger Center Dr 1st Fl, Frederick, MD 21703 +1 (301) 624 - 2074
RGS Title LLC 4201 Northview Dr 407, Bowie, MD 20716 +1 (301) 809 - 0011

Title Loan Companies in Nearby Cities

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

Title Loans in Welcome, Maryland: What You Need to Know

If you’re facing a financial emergency, title loans may be a solution for you. In Welcome, Maryland, title loans are legal and widely available. However, it’s essential to understand what title loans are, how they work, and the risks involved before using them. In this guide, we’ll explain everything you need to know before applying for a title loan.

What are Title Loans?

A title loan is a type of secured loan that uses a borrower’s car as collateral. The borrower hands over the car title to the lender, who holds onto it until the loan is repaid. During the loan term, the borrower can continue to use the car. If the borrower fails to repay the loan on time, the lender can repossess the car.

How do Title Loans Work in Welcome, Maryland?

In Maryland, title loans are regulated by state law. The borrower must be at least 18 years old and provide a clear car title free of liens. The lender cannot lend more than the fair market value of the car.

The borrower agrees to repay the loan amount, interest, and fees within a specific period, usually 30 days. If the borrower can’t pay off the loan in full, they can roll over the loan by paying only the interest and fees, but the loan principal will still be due on the next due date. Maryland law does not limit the number of times a borrower can roll over a title loan.

The Risks of Title Loans

Title loans can be a convenient way to get quick cash. However, they come with a high risk of default, which could lead to repossession of the car. Car repossessions can have a devastating impact on the borrower’s life, making it difficult to commute, work, or care for their family. Additionally, title loans typically have high-interest rates, making them an expensive way to borrow money.

It’s important to consider alternative options before turning to title loans. In Maryland, you can also consider personal loans, credit cards, or reaching out to local nonprofits for financial assistance.

Interesting Facts or Statistics about Title Loans in Welcome, Maryland

  • The average title loan amount in Maryland is $3,125.
  • 61% of title loan borrowers in Maryland roll over the loan at least once.
  • The average interest rate for title loans in Maryland is 25% per month.
  • Under Maryland law, lenders can only charge up to 33% interest per year on loans up to $6,000.
  • In Maryland, borrowers can file for bankruptcy to stop car repossessions after a title loan default.

Apply Now

If you’ve weighed your options and decided that a title loan is your best option, fill out an online application on TheGuaranteedLoans website. As a connector service, we work with a network of potential lenders who may be able to help. Remember that title loans carry risks, so only borrow what you need and can repay. For more information on title loans, feel free to contact us.

Useful Articles

Welcome, MD title loan calculator

Frequently Asked Questions About Car Title Loans in Welcome, Maryland

How long does it take to get a title loan in Welcome, Maryland?

The process of getting a title loan in Welcome, Maryland typically takes just a few hours, as long as you have all the necessary documents and information.

What is the interest rate for a title loan in Welcome, Maryland?

The interest rate for a title loan in Welcome, Maryland varies depending on the lender and the terms of the loan. However, interest rates are generally high, so it's important to compare rates and terms before applying for a loan.

Advise to read before applying

Look for Title Loans in Other Cities:

Annapolis Baltimore Bethesda Bowie Catonsville Clinton College Park Columbia Dundalk Ellicott City Essex Frederick Gaithersburg Germantown Glen Burnie Hagerstown Montgomery Village Odenton Olney Owings Mills Parkville Pikesville Potomac Randallstown Rockville Salisbury Severn Severna Park Silver Spring Towson Waldorf
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