Get An Online Title Loan In Delaware
There's no longer a need to wait weeks to find out if you're approved for a bank loan or installment loan. Now, anyone with a newer vehicle that's completely paid off can qualify for title loans in Delaware. This secured loan lets you borrow money based on your car's equity value and some loan amounts can approach $20,000. Grab your cash within 24 hours of approval when applying online with Highway Title Loans.
How To Get A Title Loan In Delaware - What's Required
To be approved for an auto title loan in Delaware, you will need to show ownership of your vehicle, and it has to be a newer model with low mileage - preferably 2010 or newer with less than 100,000 miles. The car title needs to show you as the owner, and you can't still owe a lender or have someone showing as a lienholder or shared owner on the title.
You'll need proof of income, identification, and residency in Delaware. There also may be a requirement for valid insurance on your vehicle, and some companies may also want to speak with your employer to verify the amount of money you make each month.
The approval process is simple with Highway Title Loans and can be completed online in minutes or in person at any handful of locations in Wilmington or Newark. Once you apply for a title loan and get approved, you can have the cash you need within 24 hours!
What Are The Benefits Of A Delaware Title Loan?
There are many benefits of car title loans, including:
- Quick approval - Find out whether you're approved in minutes when applying online or at any retail lending office in Wilmington, DE.
- No credit check is required. Some companies may run a soft pull on your credit to check for active bankruptcies, but most expect you to have bad or poor credit. Delaware residents can now access title loans online with no credit check.
- Cash is available within 24 hours for anyone in Delaware. Pick up the funds from any local lender or have money sent to your bank account or debit card with direct deposit.
- Funding amounts up to $20,000. Loan amounts are mainly derived from the vehicle's resale value. Expect a lender to offer 35-65% of the car's value.
- Title loan terms from 6 to 48 months. Most title loan companies in Delaware will work with you to set a realistic payoff time based on your budget. Find a company that doesn't have early payoff penalties to Repay your loan quickly and avoid excessive interest charges.
- Fixed interest rates and no loan origination fees. The interest rate on your title loan is fixed for the life of the loan, and there shouldn't be any fees to originate your loan or check credit.
Highway Title Loans Also Offers Refinancing For Delaware Title Loans
Our customers now have the option to refinance an existing title loan! This means you can replace your existing title loan terms with new ones and get a lower interest rate or extended repayment period. Refinancing your loan can provide immediate relief by reducing the monthly payment, and we may even be able to help those who have defaulted with another lender. Contact Highway Title Loans to see how much we can reduce your monthly payment or lower your interest rate with a title loan refinance in Delaware!
What Are The Negatives Of Title Loans In Delaware?
- You must hand over the car's title as collateral for the borrowed amount. This doesn't mean you can't continue to drive the vehicle. Instead, your pink slip is the security for the loan.
- If you don't repay the loan according to the repayment terms, the car can be seized and sold at auction. Contact your lender if there's a chance you may default or miss payments. Title loan providers do not want to repossess your vehicle! Instead, they would prefer to work out a repayment plan so you can get back on track with the payments.
Online title loans have high interest rates and can be challenging to repay per the repayment terms. Any lender in Delaware takes on risk by offering a secured loan to someone with poor credit, and you want to get the best rate possible and try to pay down the balance quicker.
How To Apply For A Title Loan In Delaware?
One of the easiest ways to apply for a title loan in Delaware is online with Highway Title Loans. You can fill out an application and find out if you're preapproved in minutes. You can also call us at 877-433-5454 and speak to any of our customer service reps so they can walk you through the application over the phone.
The other alternative is to apply in person in Dover or Wilmington, DE. It may take longer to apply at a physical lending location. Still, you can complete everything in one visit without worrying about an additional vehicle inspection or signing further documents. Some local companies will allow people to apply for online title loans in Delaware, and then you can go to their location to sign the contract and pick up the cash right then! Whichever method you apply, you should first make sure a title loan is right for you and then decide on the minimum amount you need.