A title loan is short-term financing in which an applicant pledges their vehicle as collateral in order to get the money. There is no credit check, which is great for anyone with charge-offs, late payments and other negatives on their credit report. People with bankruptcies also like title loans because they won’t be denied a loan for having past financial problems. Qualifying for title loans in Pelham is as easy as being at least 18, having an income and owning the vehicle as collateral. During the loan period, your lender keeps your vehicle title. They return it when you pay off the loan.
What are Title Loans Pelham?
Applications for Title Loans Pelham
Skip the long, drawn-out process of applying for a loan with a standard lender, and apply for title loans in Pelham. All you need to do is put in your name and contact details, and add a few specs about your car. The entire application takes just a few minutes, and you get a loan quote right after you submit. One of our loan representatives will answer any questions you have and help you set up a loan repayment plan. Once you finalize all the details, you can collect the loan money. All this is done in one day, most of the time.
New Hampshire Legal Information
Interest rates are up to 25 percent. Loans terms are one month, but loans are renewable 10 times. Lenders are allowed to charge a lien fee and a late fee of five percent when payment are 10 days past due. Borrowers have the right to cancel a title loan if they pay back the full amount in cash within one day of accepting the loan money. Borrowers may only have one title loan at a time, and they may not take out a title loan within 60 days of paying off a previous title loan. They must sign a document under oath that they are not violating these rules. Lenders must be licensed by the state and maintain an office in the state that is accessible to customers.
Title Loan Benefits
- Title loans are better than standard loans because of the quick application and much shorter processing time. It’s also easier to be approved for title loans in Nashua and Pelham because there is no credit check. Bad credit is not a problem, and neither is a bankruptcy.
- Why wait weeks to find out if you are approved for a loan? That’s how long it can take at a mainstream lending institution, but title loans are most often completed in a day or less.
- Even though loan terms are short-term, lenders are willing to work with you when more time is needed to pay off the loan. With up to 10 loan renewals available, you won’t have any problem making payments. Just let us know you need help so we can work something out.
- We let you keep the car while you pay off the loan. As long as we keep the title, there is no need for you to be inconvenienced by not having transportation.