Title loans can provide needed cash fast—particularly to borrowers with bad or no credit because there is never a credit check with a title loan from Lake Title. They work by using a vehicle title to act as collateral for the amount of the pawn. We offer them as a way for borrowers to cover emergencies or other short-term expenses, without the hassle and inconveniences of a traditional loan. With a title loan, you are only required to have a few documents to get approved, and the equity in your vehicle acts as the collateral for the loan! We do not check your credit nor does your credit ever play a factor in approval with Lake Title!
Title loans are typically a short-term loan, so your repayment terms with Lake Title are simple and easy. The title loan is a 30-day pawn transaction in Georgia, but there are no strict end dates for repayment of the loan. With that, also bear in mind that it is the same as any other financial obligation in the sense the longer you have a balance, the more money you end up paying back for that transaction. If you are unable to pay the full balance back within the 30-day timeframe, you will simply need to pay at least the minimum finance charge that is listed on your pawn transaction contract. At Lake Title, we encourage our customers to pay over their minimum payment in order to lower their principle balance as well as their additional 30-day finance charge and total payback amount.
Title loans are a quick, simple and easy way to gain access to a line of credit different from a traditional line of credit. With Lake Title we initially approve your application based on the equity of your vehicle, but once you have established an account and history with our company, you are able to increase your line of credit along with your borrowing power which is based on your payment history with us.
Most of America owns assets, and vehicles are the most common of those assets. Most people don’t realize that you have equity in your vehicle, regardless of the condition. Here at Lake Title, we make it simple and easy for our customers to access any equity they have in their vehicles by exchanging your vehicle title as collateral for a short-term title pawn transaction which helps you get the cash you’re needing today quickly, easily and hassle free. You, the borrower, will hold the power in the title loan as you are the one who decides the length of time you will need to pay back the title loan with Lake Title.
If you still have any questions, we are here to help! Please reach out to one of our friendly representatives in the office at (352) 692-2274 with any questions you may have, and we will be happy to get you the answers you need!