Online Title Loans In Atlanta GA
Highway Title Loans now offers access to cash with a same day title loan in Atlanta, GA. These secured loans allow borrowers to get money without worrying about bad credit, and most paid off vehicles will qualify for a loan amount of $1,000 or more!
Your vehicle equity is used as collateral for the funding amount, and applicants customers with a lien free car can qualify. With auto equity loans in Atlanta, you can borrow up to $25,000, and you don't need to show a good credit score when you apply.
How Much Cash Can I Borrow With An Atlanta Title Loan & What's The Interest Rate
Loan amounts with a title loan in Atlanta depend on a few factors. First, you need a car that's titled in your name with a resale value of at least $2,000. Second, you can generally borrow 35% to 60% of the vehicle's value, meaning a car that's worth $5,000 would lead to a loan amount of around $2,5000. High mileage vehicles may be challenging to get approved but they may be an option if they're in good condition and still retain a resale value of $2,000 or more. As of 2024, title loan funding amounts in Atlanta average $2,000 with loan amounts maxing out at $25,000 for high value cars and SUVs.
The APR depends on your loan amount and borrower profile, but you can expect an interest rate of 40% or higher with your first loan. In some scenarios your interest rate will be over 100%! Yes, these rates are high, but they may be lower than other short term loans like payday loans that don't have collateral backing up the loan. Repeat customers can expect a lower APR with proof of on-time payments.
Repayment Terms For A Title Loan In Atlanta
Repaying your title loan is straightforward if you make the monthly payment on time. Atlanta's best title loan companies will work with you to create a repayment schedule that fits your budget with an average payoff term of 8 to 36 months. In some scenarios you can even stretch the repayment term out to 60 months in order to get a lower monthly payment. However, this is not recommended as you will pay far more in interest charges over the life of the loan.
Pay the full amount due each month and try to repay the loan faster to avoid excessive interest charges. Some companies will allow you to pay off the full balance early with no pre-payment penalties.
What If I Can't Pay Back My Lender
A licensed lender can repossess your vehicle if you stop making payments and default on the loan. Atlanta has restrictions for lenders regarding vehicle repossessions, but they have every right to sell the vehicle at auction if you fall behind on payments. Having your car repossessed by a title loan company is not ideal, and you should contact your lender at the first sign of default. The last thing you want is to lose your car and have that default go on your credit report!
Apply Online Or With A Local Auto Title Lender In Atlanta, GA
Applying online with Highway Title Loans is convenient; you can get pre-approved in minutes without leaving home. You can also shop around and compare rates from online lenders to see if there are other companies offering lower interest rates or better repayment terms.
Would you rather work with a neighborhood title loan company in Georgia? Georgia is one of the best states to get a title loan in as there are minimal lending regulations and you can compare quotes from dozens of direct lenders. Choose a local company that offers fast approval with funding from a money order or cash sent straight to your checking account. Consider lenders in Buckhead and Midtown that process applications that same day and offer cash in hand within an hour or less!
Apply With Highway Title Loans In Atlanta, GA
Highway Title Loans assists customers who have equity in their vehicle and we can get you approved for a loan amount of $1,000 to $25,000 in Atlanta. Apply online or contact us at 877-433-5454 to see what you qualify for!
