Childcare costs can be a real budget buster, but there is no way around paying. Children need a safe place to be while Mom and Dad work. Still, shelling out thousands of dollars a year for someone to care for each child can be financially draining. Some extra cash would certainly help, but where do hard working parents find money when they are in need? Title loans in Clayton are one option.
What are Title Loans Clayton?
Title loans in Clayton are loans secured by a vehicle owned by the borrower. There are a few other requirements, including being at least 18 years old and having an income, but the vehicle is the main component. While the borrower makes payments on the loan, they leave the title certificate to the vehicle with the lender. When the loan is paid off, the lender returns the title to the borrower. Loan terms are typically as short as a month, but many borrowers choose to renew the loan in order to have more time to repay the balance. There is no credit check, so if you have been denied funding because of bad credit, you won’t have the problem with title loans. Every credit type has an equal chance of being approved.
Title Loans Clayton Applications
Those who have had title loans before can appreciate the simplified application we use. All we ask is the applicant’s name and contact details, how many miles are on the vehicle and the vehicle specs, such as the make and model. With this basic information, we can give you a loan quote. You decide if you like the number and want to proceed with the loan. There’s no pressure from us, but if you want to get the cash, we can work out a final loan package for you. Once all the details are finalized, you get the money.
Delaware Legal Info
When a loan is in default, the lender has the legal right to repossess the vehicle used as loan collateral. Before they are allowed to repossess the vehicle, the law requires them to offer the borrower a workout arrangement. The borrower has 10 days to accept or reject the deal. With acceptance, they are required to pay at least 10 percent toward their loan balance each month. If the borrower does not honor the workout deal, the lender can then repossess the vehicle. Lenders are not allowed to threaten to take legal action against clients whose account is delinquent.
Benefits of Title Loans
- From the start of your application until the loan processing ends, less than a day will pass for most borrowers. That means you can have the money in your hands the same day you apply for title loans in Middletown and Clayton.
- Applying online is quite convenient because you don’t have to visit the office, and wait to be seen. You can apply from anywhere and at any time of the day or night.
- No matter what your credit report shows about your payment history, a title loan approval is still an option for you. That’s because there’s no credit check. Since title loans are based on collateral, checking your credit worthiness is unnecessary.
- If you realize your loan term is too short to pay off the entire balance, tell us about your situation. Delaware allows title loans to be rolled over, and you can get up to 180 days to pay us back.
- Title loans are an easier way to get money than begging a loan from someone you know. With title loans, there are no questions about your finances and no judgment about your situation.