Get A Car Title Loan With GoTitleLend!

Loan Amounts & Rates For Title Loans From GoTitleLend

The average lending amount for an online title loan is $1,500, but these amounts can range from $300 to $7,000 based on the borrower’s profile. Funding amounts can sometimes be higher in Ohio versus other parts of the nation, but you can also expect larger monthly payments with higher funding. The amount you can borrow depends on the vehicle’s value and your ability to make on time payments. To determine the title loan value of your car, it’s best first to get an estimate of your vehicle’s resale value based on the car’s make, model, and mileage.

Interest rates for title loans can range from 36% APR to 200% APR. Your specific rate will depend mainly on the equity in your vehicle, and you can always refinance your interest rate at a later date. Rest assured, the monthly payment will only be determined after ensuring it fits into your budget and works for both the lender and borrower.

GoTitleLend Repayment Terms

Most title loans online are set up on a monthly repayment schedule; however, some lenders may offer longer terms. Expect a payment term of anywhere from 3 months to 2 years for an equity loan, and the time can be stretched out longer if you want to have a reduced monthly payment. In addition, some companies may offer early payoff options where you can make larger payments and save on interest, and the best part is there’s often no pre-payment penalty or other fees if you want to get out of the loan early. Be sure to ask about all payment options before signing a contract.

Missed Payments & Default On A Title Loan

The main thing you want to avoid with a title loan is defaulting on the payments. Once you fall behind, you not only risk paying more in interest and late fees, but you also face a scenario where the lender can repossess the vehicle. That means they can take your car anytime for lack of payment, and the only way to get it back is by paying the entire balance due. Contact your lender if there’s ever a chance you will fall behind on the payments and work to renegotiate the repayment terms. GoTitleLend can offer different refinancing options and loan buyout programs if you default with another title loan company.

Keep Driving Your Car With A GoTitleLend Auto Title Loan

There’s no reason why you can’t keep driving your car while you make the title loan payments. Instead of using the vehicle as collateral, you’ll hand over the pink slip to your lender and that’s used to secure the loan. Unlike a loan from a title pawn company, you don’t need to give up your car as collateral!