Get Quick Cash with Car Title Loans in Illinois

Table of Contents:

What are Illinois Title Loans?

Are Title Loans legal in Illinois?

Online Title Loans in Illinois

Title Loans Near Me in Illinois

How do Illinois Title Loans work?

Illinois Title Loans requirements

Illinois Title Loans no credit check, no inspection

Illinois Title Loans alternatives

In Illinois a title loan is a short-term loan secured by your qualifying vehicle as collateral. After approving you for a Car Title Loan the lender gets your car title and becomes a lienholder till you pay back the full amount of the loan plus interest and fees. The good news is that you can use your vehicle while you are making your payments during the loan terms.

To get a Title Loan in Illinois you just need:

1. Fill out a free application form online
2. Get instant pre-approved loan amount
3. Pick up your cash same day

Are Title Loans legal in Illinois?

As you've decided to apply for a Title Loan in Illinois you are to learn all the laws and regulations concerning Title Loans in Illinois.  They differ in terms of amounts, loan duration, interest rates and other fees. 

Online Title Loans in Illinois

Any unexpected life challenges like urgent medical bills, a car breakdown,  home repairs, etc. have a solution. In Illinois it's – a Car Title Loan: quick, easy, available for any credit score, 24/7 online, with no credit check.

You only need a few documents to qualify for an online Title Loan in Illinois:

• A clear vehicle title with only your name on it. 
• A valid government-issued ID.
• Proof of income.
• Proof of residency.
• Proof of valid vehicle insurance and registration.

To apply for a Title Loan in Illinois online, look for car title lenders that work online in your state. Provide the required information and share the picture of your car. It will help the lender to decide what value your car holds and what amount of money they can lend you. As soon as you are approved, you'll only need to wait a few hours for the loan to be deposited into your bank account.

Title Loans Near Me in Illinois

If you're surfing the Net for Illinois Title loans near me you are sure to find various store locations with addresses, directions, phone numbers, e-mails, working hours and other relevant information. You can drive to the nearest Title Loan company at one but it may take a long time to do the paperwork, fill out an application, inspect the car and there're no guarantees you'll get the funds. Everything gets much faster and easier if you start the borrowing process online - apply online and get all the necessary loan details to visit a shop only for a car inspection and receiving the money.

How do Illinois Title Loans work?

1. Decide what amount you need. 
2. Fill out an application form online or in the store near you in Illinois.
3. Provide your car title as a collateral to the lender.
4. Get 25% - 50% of the car value in cash or into your bank account same day. 
5. Repay the Loan: 

• Single-payment Title loans are paid back in a lump sum within 30 days, and have an average APR of 300% which greatly resembles Payday Loans.
• Installment Title  loans offer more flexible payments within 3 - 6 months, and have an average APR of 259% which may be regarded as Personal Installment Loans

Keep in mind - in Illinois during all the repayment period you can use your vehicle. Only in case of a Title Loan default the lender can take it out.

Illinois Title Loans requirements

• The car’s title. It's going to be used as a collateral for your Title Loan. 
• The car. It's necessary to inspect the car at first and estimate its value. Though it doesn't mean you an't use the car while you are paying off the money.
• A proof of income as well as employment. Though you can find a lender providing Title Loans even if you are not currently employed.
• A Government-issued ID. 
• Illinois residence. 
• Bank account information (not always required, depending on the lender).

Illinois Title Loans no credit check, no inspection

As Illinois Title Loans are secured by your vehicle you are not obliged to have a perfect credit score. Most lenders don't do a credit check. They use your vehicle as a collateral to make up for a risk of loan default. If you don't pay back on time, the company can take hold of your car in exchange of the money you owe. 

Inspection of your vehicle is necessary to estimate its value and determine what amount of Title Loan you are eligible for. But sometimes, especially if you apply completely online, it's possible to get approved for a Car Title Loan in Illinois with no inspection. It will be enough to provide the necessary documents and send the pictures of your car. 

Illinois Title Loans alternatives

If for some reason Illinois Title Loans don't suit your needs, or you don't meet the lenders' requirements to get approved, consider other options to receive quick funding in Illinois:

• Look for short-term small loans form a bank, credit union or other community-based organizations.
• Get cash advance on your credit card.
• Apply for Illinois short-term Payday Loan online or in-store to get instant loan even with bad credit.
• Consider Illinois Personal Loans and Installment Loans for higher amounts but still greatly available for both good and bad credit score borrowers.
• If you need cash advance because you can't pay the bills, negotiate with your creditors about a repayment plan, or extension, or any other way to solve this problem without additional loans.
• If you're in debt, search for help at some Illinois local non-profit credit counselling service.
• Think about Pawn shop loans if you have any valuables which you can use as a collateral.
• Make some extra money, for example, by recycling, or taking up an odd job.
• Ask friends or family for help.
• Talk to your employer about some cash advance.

Anyway, before applying for this or that loan shop around compare the offers, check the rates and fees, terms, requirements, etc. Consider your ability to repay the money. Make a realistic budget, including your expenses and income. Make sure you pay the loan on time to avoid additional fees and debts.