A Fast Online Application For Car Title Loans In Iowa
At Highway Title Loans, we know it can be stressful trying to find a lender that offers bad credit loans with a fast funding process. Because of that, we’ve streamlined the underwriting and application timelines for instant auto title loans in Iowa, and many times you can get approved and qualified in less than an hour. You need to own a vehicle or truck outright to prequalify and there are no early repayment penalties. Simply put, our title loans in Iowa give you the cash you need now with flexible repayment options and a process that’s quick and easy.
Vehicle Title Loan Lending Requirements In Iowa
As with most secured loan offers the requirements start with a car title that’s not only in your name but also clear of other loans and liens. That way your lender will know the car’s title can be used as collateral and they have a clear title to take if you default on the loan. The title will be held by the lender during the life of the loan and returned to you once it’s paid off in full.
Other requirements for auto title loans in Iowa might include:
– A vehicle that’s less than 10 years old with under 100,000 miles
– A government issued ID in Iowa to verify your identity(driver’s license, passport, etc.)
– Proof of residency within the state (utility bill, lease agreement).
– Proof of insurance on the vehicle and proof that the vehicle is currently registered.
– The title to your car or truck – all owners must be listed on the title and you must supply the original copy from the Iowa DOT.
Loan Amounts And Interest Charges For Iowa Title Loans
While other states may have different minimum vehicle value requirements, in Iowa your car only needs to be valued at $2,500 or more to qualify for a title loan. That means even if you have an older model car or truck, you could still get the cash you need now. The average loan amount for title loans in Iowa is around $1,500 but it can go higher for vehicles with a higher resale value or those that are in good condition with low mileage.
The interest rates and monthly payments on car title loans in Iowa will depend on the amount of the loan, the length of the repayment period, and your personal financial situation. In general, title loan terms last between 90 days and 24 months, but some lenders may offer longer repayment periods. All title loans have an annual percentage rate (APR) which is the amount of interest you’ll pay on the loan over the course of a year. The average APR for title loans in Iowa is sometimes over 100%, but this can vary depending on the lender and other factors.
Title Loan Offers In Iowa For People With Bad Credit
At Highway Title Loans we don’t require a credit check as part of our underwriting process because your car title is being used as collateral for the loan. We understand that bad things happen to good people and sometimes that includes financial hardships that can damage your credit report. Title loans are possible even if you have bad credit or don’t have a recent credit history.
Let your loan agent know beforehand if you have any past vehicle repossessions or if you defaulted on any recent loans. Even though you don’t need good credit there are still some minimum credit requirements that all applicants must meet which includes not being a part of current bankruptcy proceedings or having another secured loan out on the same vehicle.
Applying For Online Title Loans In Iowa
The process for getting title loans in Iowa is similar to other states, but there are some slight variations so it’s important to understand the requirements before you apply. The first step is to fill out our online application which only takes a few minutes. After that, one of our loan experts will contact you to discuss the next steps and answer any questions you might have about title loans in Iowa. The title loan amount, interest rates, and repayment schedule will be determined during this conversation and once everything is finalized we’ll get the money sent to your bank account as soon as possible – sometimes within 24 hours!
For those who want to apply with a direct lender near them in Iowa, we can point you to a few locations in Des Moines or Cedar Rapids that take walk in visitors. If you prefer working with a local finance company that’s no problem, but be prepared to bring all your documents and paperwork with you, or you can start on the application online and finish everything up directly in person.
Another consideration to consider is that many title loan providers in Iowa will want to inspect your car before signing off on a funding amount. This entails a quick inspection of the inside and out of the vehicle to make sure the car is in working order and lines up with the expected resale value of similar cars sold in Iowa. There are a few ways to avoid an in person vehicle inspection, but it typically requires bringing in additional paperwork or documentation about the car.
What Else Do I Need To Know About Auto Title Loans In Iowa
While title loan requirements vary from state to state, the process for getting title loans in Iowa is pretty straightforward. The first step is to fill out our online application which only takes a few minutes and that also includes quick quotes for classic car title loans! After that, one of our loan experts will contact you to discuss the next steps and answer any questions you might have about title loans in Iowa. The title loan amount, interest rates, and repayment schedule will be determined during this conversation and once everything is finalized we’ll get the money sent to your bank account as soon as possible – sometimes within 24 hours!
Contact us anytime and we’ll be happy to answer any questions you have or help to walk you through our online title loan application. We can promise that we will do everything we can to speed up the application and underwriting process and we’ll give you a fair and honest assessment of your situation. Get your cash today with a title loan in Iowa!