Title Loans in Mentor, OH
Even if you are a financially responsible adult, there may be times that you find yourself lacking the funds to pay off your bills. Like most individuals when it comes to cash assistance, we need them as soon as possible for little to no risk. Getting a title loan in Ohio may be the option for you if you need to take out a small loan in no time. Banks and other financial agencies can decrease the credit score you have worked hard to build, with title loans your credit is not needed! The loan uses your vehicle title for security so you do not need to worry about losing your car in the process of paying off the loan either!
Online Forms for Title Loans in Mentor
Title loan companies in Mentor are here to work with you! One of the things we pride in is convenience. With our free online application, you will be allowed to view the loan you may be approved for by just filling this out. We will also provide you with a loan agent that can contact you and further assist you with resolving any conflicts about title loans you may have. They can also find the title loan location in your area that is more suitable for you. You may need to bring some additional documents to the site:
- Photo ID
- Proof of Income
- Vehicle Title*
Get a copy of your vehicle title, or if you have lived in another state, transfers your title here:
Address: 8830 Mentor Ave, Mentor, OH 44060
Phone: (440) 974-9000
We also pride ourselves in fair trade, so we inform our customers to bring their vehicle under the title so our title loan lenders can verify that it is legitimate. We will keep detailed records about the condition of your vehicle in forms of notes and/or pictures to avoid any discrepancy. You as a borrower are not allowed to threaten or damage your vehicle in any way to lessen the value during this lending period.
Title Loan Regulations in Ohio
Like most secured loans, the collateral you have given up with be affected if you default on a loan. A default usually means that the borrower has found themselves unable to pay off the loan and must give up the security to the lender. In the case of title loans, the borrower will allow the lender to take possession of the vehicle. The title loan lender may then sell the vehicle to cover the cost of the loan amount, any extra money made will be returned to the original owner of the vehicle, and if it does not pay off the remainder the borrower will have to cover the rest. You have two options when it comes to vehicle repossession, you may: file for bankruptcy or refinance your title loan with another company.
Ohio Auto Title Refinance Loan
Most lenders can offer you a refinancing option if you are already part of a title loan. The title loan lender may choose to repay your existing loan and offer you a smaller loan amount at a more affordable rate. You may have to pay a fee up to $10 to transfer lien-holders. The loan amounts may vary, and can offer you competitive rates that make it easier for you to pay off.
Chapter 13 Bankruptcy
This type of bankruptcy will allow the borrower 3 to 5 years to pay off the loan. This will be indicated on your credit report and may make it harder for you to apply for other loans in the future.