Title Loans in Richmond, Massachusetts

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No title loan companies in Richmond, MA. Consider companies in other cities:

Company nameAddressZip codePhone number
TD Bank 40 Springfield St, Agawam, MA 01001 +1 (413) 786 - 0579
loanDepot 102 Elm St, Walpole, MA 02081 +1 (508) 850 - 4100
Webster Bank 28 County Rd, Mattapoisett, MA 02739 +1 (508) 758 - 9583
Fall River Municipal Credit Union 58 S Main St, Assonet, MA 02702 +1 (508) 678 - 9028
Citizens Bank 134 Nahatan St, Norwood, MA 02062 +1 (781) 769 - 2660
Align Credit Union 19 Haverhill Rd, Amesbury, MA 01913 +1 (800) 942 - 9575
Citizens Bank 250 Legacy Pl, Dedham, MA 02026 +1 (781) 251 - 0268
Community Bank, N.A. 1500 Main St, Springfield, MA 01115 +1 (413) 787 - 2700
Citizens Bank 50 S Main St, Randolph, MA 02368 +1 (617) 551 - 6262
Country Bank 352 Palmer Rd, Ware, MA 01082 +1 (800) 322 - 8233

Title Loan Companies in Nearby Cities

If there are no title loan companies in Richmond, MA, you can try to find different companies in big cities nearby. Check out the following pages here: Title Loans in Everett, MA, Car Title Loans in Fall River, MA, Title Loans in Falmouth, MA, Car Title Loans in Fitchburg, MA, Car Title Loans in Framingham, MA, Title Loans in Haverhill, MA, Car Title Loans in Holyoke, MA and Car Title Loans in Lawrence, MA. 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 Richmond, MA.

Title Loans in Richmond, Massachusetts: A Comprehensive Guide

In the world of lending, title loans are a popular option for those looking for quick access to cash. In Richmond, Massachusetts, title loans are not only legal but widely available to borrowers. In this comprehensive guide, we’ll dive into everything you need to know about title loans in Richmond, Massachusetts.

What are Title Loans?

A title loan is a type of secured loan where a borrower uses their vehicle title as collateral. The amount of the loan typically is based on the value of the vehicle and the borrower’s ability to repay the loan.

One of the benefits of title loans is that they typically don’t require a credit check, making them an appealing option for those with poor credit. However, because title loans are secured by the vehicle, if the borrower fails to repay the loan, they risk losing their vehicle.

Regulations for Title Loans in Richmond, Massachusetts

Title loans are legal in Richmond, Massachusetts, but they are subject to regulations to protect borrowers. The loan amount for a title loan cannot exceed $25,000, and the loan term cannot exceed 42 months. Additionally, the interest rate for title loans in Massachusetts is capped at 23% per annum, with an additional $20 fee for every $100 borrowed.

It’s important to note that if a borrower is unable to repay the loan, the lender may repossess their vehicle. If the vehicle is sold for more than the outstanding loan balance, the lender must return the excess funds to the borrower.

How to Apply for a Title Loan in Richmond, Massachusetts

The process for applying for a title loan in Richmond, Massachusetts, is simple. First, the borrower must provide the lender with their vehicle’s title and proof of income. The lender will then assess the value of the vehicle and determine the loan amount.

Once the loan amount is determined, the borrower must sign a contract agreeing to the terms and conditions of the loan. It’s crucial to read the contract carefully and ensure that the terms are fair and reasonable before signing.

After signing the contract, the borrower will receive the loan proceeds, typically in the form of a check or direct deposit. The borrower will then be responsible for repaying the loan, including all fees and interest, within the agreed-upon term.

Benefits of Title Loans in Richmond, Massachusetts

  • Title loans offer quick access to cash without the need for a credit check.
  • Loan amounts are typically based on the value of the vehicle, making them an excellent option for those with poor credit.
  • The application process is straightforward and requires minimal documentation.
  • Interest rates for title loans in Massachusetts are capped, providing borrowers with protection against excessive fees and interest.

Interesting Facts and Statistics About Title Loans in Richmond, Massachusetts

  • According to a study by the Consumer Financial Protection Bureau, one in five title loan borrowers in the United States has their vehicle repossessed.
  • The average title loan in Massachusetts is approximately $1,000, with a term of 12 months.
  • There are currently more than 100 title loan companies operating in Massachusetts.
  • The average interest rate for title loans in Massachusetts is 18%.

Apply Now for a Title Loan in Richmond, Massachusetts

If you’re considering a title loan in Richmond, Massachusetts, TheGuaranteedLoans can help you find a lender. Our service connects borrowers with lenders who specialize in title loans, making the application process quick and easy. It’s important to note that TheGuaranteedLoans is a connector service and not a direct lender. We do not make credit decisions or provide loans. Instead, we facilitate connections between potential borrowers and lenders. To get started, simply fill out an online application, and we’ll connect you with a lender who can provide the funds you need.

Final Thoughts

Title loans in Richmond, Massachusetts, can be a useful tool for those looking for quick access to cash. However, it’s essential to consider all options carefully and ensure that the terms of the loan are fair and reasonable before signing a contract. By doing your research and working with a trusted lender, you can use a title loan to address your financial needs and achieve your goals.

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Title Loans Available in Richmond, MA By The Following ZIP Codes:

01254

Richmond, MA title loan calculator

Frequently Asked Questions About Car Title Loans in Richmond, Massachusetts

What is a title loan in Richmond, Massachusetts?

A title loan in Richmond, Massachusetts is a type of short-term loan that is secured by the borrower's car title. The borrower pledges their vehicle as collateral for the loan, and the lender holds onto the title until the loan is repaid.

Who is eligible for a title loan in Richmond, Massachusetts?

In order to be eligible for a title loan in Richmond, Massachusetts, you must be at least 18 years old and have a clear car title in your name. You must also have a source of income and be able to provide proof of income, as well as proof of residence and a valid driver's license.

Advise to read before applying

Look for Title Loans in Other Cities:

Andover Arlington Attleboro Beverly Billerica Boston Brockton Brookline Cambridge Chelmsford Chelsea Chicopee Dartmouth Dracut Everett Fall River Falmouth Fitchburg Framingham Haverhill Holyoke Lawrence Leominster Lexington Lowell Lynn Malden Marlborough Medford Natick Needham New Bedford Newton North Andover Peabody Pittsfield Plymouth Quincy Randolph Revere Salem Shrewsbury Somerville Springfield Taunton Tewksbury Waltham Westfield Woburn Worcester
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