Rebuilding your credit can take some time after you’ve missed a few payments and your score has dropped. In the meantime, you may have bills piling up or a few outstanding bills that really need to be taken care of now. Most traditional lenders won’t consider you for a loan with poor credit, so what can you do? Fortunately, you do have an alternative. Delaware Car Title Loans helps many folks in the same exact situation you’re in. We know even with the best of intentions, payments get missed or you’re hit with repair bills you haven’t anticipated. However, we can still help those folks with poor credit. We don’t rely on credit scores or reports to determine whether you would be a good candidate for a loan. Instead, our title loans in Wilmington are secured with the title to your car or truck. Since you’re using your vehicle as security, you will more than likely make your payments. Overall, this system makes it easier and faster to process loans, and you won’t be turned down for credit issues. It is simple and fast. You get the cash you need, for any purpose, in 24 hours or less.
Qualification Requirements for Title Loans Wilmington
- Applicants must be the legal owner of a car in running and working condition to qualify for title loans in Wilmington. Cars must be paid off, and car titles should not list any lien holders.
- To enter into a contract legally, for title loans in Delaware, you must be at least 18 years of age. We will ask you to confirm your age with a Delaware driver’s license or a state identification card.
Frequently Asked Questions About Title Loans Wilmington
Can I Still Retain Use of My Vehicle When Carrying a Loan?
We understand you’ll still need transportation during the loan period. You are free to drive your car just like you always have.
Are There Special Spending Requirements for Loan Funds?
No, we don’t have any spending requirements or restrictions for your loan funds. Most folks take out title loans in Wilmington to cover unforeseen bills, emergencies, doctor visits or anything else that crops up unexpectedly.
When Do I Get My Car Title Back?
Just as soon as you complete your final payment on the loan, you’ll receive your car title.
How Are Loan Amounts Determined?
Loan amounts are generally determined on the market value of your auto and your ability to repay the loan. We hope to provide you with the highest possible payout on title loans in Wilmington, but your payments need to be in line with your income. Vehicles with the least amount of miles and in good condition usually receive the highest loan offers.
We look at the age, overall condition and mileage of the vehicle when determining a vehicle’s value. This information is also merged with the market value listed in Kelly Blue Book. Even though borrowers receive a quote for the highest amount possible, it is ultimately up to borrowers to decide on a loan amount they can handle comfortably.
Is It Possible to Pay Off My Loan Amount Early?
Yes, you certainly can pay off a loan early and without penalties or fees. If you want an early payoff, contact your loan rep and she or he will make it happen.
What Types of Income Are Acceptable for Title Loans?
You’ll probably be surprised with the number and types of income we accept for title loans. Listed below is a sampling of common types of incomes used for qualifying:
- Alimony income.
- Unemployment benefits.
- Commission income.
- Retirement income.
- Income from pension plans.
- Disability benefits.
- Social Security benefits.
- Welfare benefits.
- Self-employment income.
- Income from a part-time or full-time job.
- Free upfront loan estimate after applying.
If you don’t see your income source listed, be sure to ask your loan representative if you have a qualifying income source.
Do You Approve Loans With No Credit History?
Yes, we can approve you even if you haven’t established a credit history. We never pull credit scores, and we know young people and many stay at home moms may not have a history.
Can I Still Get a Loan If the Title to My Car Isn’t in My Name?
You’ll need to make arrangements with the Motor Vehicle Department to change the name on your car title before we can process a title loan.
Where and When Do I Get My Loan Funds?
You are free to collect your loan funds from any nearby loan store after signing your contract.
Title Loan Advantages
- Loan funds in 24 hours or less. Often payouts are distributed in just a few hours.
- Quick cash may be used to prevent late payment charges on a variety of bills.
- Cash could be used to pay off high-interest credit cards.
- No spending or driving restrictions.
- No prepayment penalties.
- Professional services every day.
- No credit checks.
How to Get a Loan
Fill Out an Application
To begin your loan process, you’ll start by filling out an application. To receive the quickest service, we encourage applicants to apply online, which is fast, easy and convenient. You also have the option of visiting one of our nearby loan stores if you prefer to speak with a loan representative in person. Lastly, you can also apply over the phone.
We only require a small amount of contact and vehicle information for title loans in Wilmington.
- A phone number, your home zip code, and your full name.
- Current mileage estimate, age, make, model and body style of your auto used for collateral.
The application process is simple and quick and best of all, it won’t cost you a thing. It’s free to apply.
Complete a Loan Consultation With Your Loan Representative
Shortly after we receive your application in our system, you can expect to receive a call from your loan rep. Your rep is responsible for explaining the loan process from the start to the finish, so you’ll know exactly what to expect.
The main topics of conversation during your call will focus on your loan estimate, income, payment arrangements and your ability to make payments without stretching your budget too tightly. Even though you’re in need of a loan, we want to make sure it’s affordable.
We are pleased to offer a number of payment plans, but we also know each applicant may have some special requirements. If you have special budget considerations, we will be happy to custom design a repayment plan.
The Loan Closing Process
To make sure everyone is in agreement with the terms of the loan, your representative will draw up a contract, which meets state regulations. When you are presented with a contract for title loans in Wilmington, take a few minutes to study the terms and ask any questions you may have. Contracts will provide:
- Minimum payment amounts and a payment schedule.
- The interest rate you’ll be paying and the cost of the interest.
- The original loan amount.
- Applicable fees.
- The length of the loan.
Next, you’ll provide the paper car title, and you are free to pick up your title loan funds.
Pay overdue bills, prevent late payments or cover medical emergencies with fast cash from title loans in Wilmington today.