Car Title Loans in Appleton, Wisconsin
If your credit history is not so good, getting an emergency loan can be difficult because conventional financial institutions like banks generally don’t offer loans to people with bad credit score due to regulatory constraints. At one point of time, closing an instant loan deal was considered an uphill task in the city of Appleton, Wisconsin. The quest for a viable alternative source to conventional financial channels has been fulfilled by the title lenders in the city.
A car title loan is also known as an auto or vehicle title loan. The secured loan is given for a short period of time. You can raise the fund using your vehicle title as collateral. The lender puts a lien on the vehicle. You are required to surrender your vehicle title temporarily to the lender. However, you will continue to enjoy driving your vehicle.
Why you may require a title loan
The reasons are numerous. While it is the main reason, people do not always get a Wisconsin title loan when they are in a financial crisis. In recent years it is seen that the loan is quite useful whenever an unexpected need pops up.
Broadly speaking, below are some of the reasons why you may require an auto title loan:
- Paying for tour and travel expenses
- Finance for your kid’s education
- Birthday and other celebrations
- Payment of urgent medical bills
- Meeting funeral expenses
- Remodeling of home
- Debt consolidation
Never Give Up your Vehicle
Those who are advocating selling a vehicle to meet any of the above mentioned needs are actually wrong. Once you sell a vehicle, it means that you have lost one of your most valuable possessions. Apart from this, you will also need to spend a considerable amount of time finding an interested buyer. In any case, if you sell a vehicle, you may get a respectable amount, but you will be without the use of your vehicle and commuting to your job could become much more difficult. Eventually, you will just spend more money on a new vehicle. Since Appleton title loans can be easily secured against your vehicle tile without depriving you from driving, there is no point of thinking of selling a vehicle to raise money during emergency periods.
Simple Estimation Process to Determine Loan Size
The title loan companies in Appleton are following a transparent loan estimation process to win the confidence of the customers. The size of the loan exclusively depends upon the value of your vehicle. Here, the good thing is that all vehicles are eligible. If your vehicle is in good condition, you can get a decent amount compared to a loan against an old vehicle. The lenders are ready to offer more than 50% of the value of your vehicle. The loan size can be $2500 to $10,000, even more!
Other Distinct Features of Appleton Title Loans
- Lower interest rates and flexible payment options
- Full protection of personal information
- Cash in your hand ASAP
- No verification of credit score
- A pleasant customer service
- Most vehicles eligible
- Keep on driving
- Less paperwork
Laws Related to Title Loans in Appleton, Wisconsin
- In Appleton, all credit transactions and debt collections are regulated by the Wisconsin Consumer Act. The Act calls for detailed disclosures in credit contracts and advertisements.
- Wisconsin Statutes 138.16 declares that a title loan means a loan of $25,000 or less to a customer for personal, family, or household purposes. The title loan has an original term of not more than 6 months.
- A title lender cannot operate in the city without a valid government approved license.
- It is also a good idea to learn more about title loan laws in Wisconsin.
- A title lender is not allowed to give a loan to a customer those results in the customer being made liable for the loan, in principal, of above 50% of the retail value of the motor vehicle being kept as security for the title loan.