April 2, 2018
Are you looking to get a title loan near Memphis, TN? Maybe you’re searching through options for loans, and you ran across the option of a title loan. If you don’t know much about title loans, we’ve got all the answers for you.
When you’re in need of funds, there are a number of options that you can turn to. You could open a line of credit with a bank or a credit union, or you could get a loan. There are many types of loans and lenders available in Memphis. At Mid-South Title Loans, we specialize in short-term loans.
There are many benefits of getting a short-term, title loan with Mid-South Title Loans. You don’t have to wait days or weeks to get the funds you need, like you may at a bank or credit union. At banks and credit unions, it is time-consuming and tedious meeting the extensive requirements and enduring the waiting period, when you need cash now to cover your expenses. Here, you can also have less-than-perfect credit. We’ll approve customers with low credit or no credit, unlike many lenders. Plus, you’ll pay your title loan back in a short amount of time, saving you time and money.
So, what about downfalls of getting a payday loan? Let’s go through some concerns of first-time title loan customers.
Common Concerns of First-Time Car Title Loan Customers
I won’t get my title back.
When you come to one of the Mid-South Title Loans locations in Memphis, TN, you know up front that your car title is an important part of the process. Just how important is it? Will we keep your title forever?
No, we won’t keep your title forever. When we approve you for a loan at Mid-South Title Loans, we give you your money in exchange for your lien-free title – temporarily. We’ll keep your title for the short period of time that it takes you to pay your loan back. Your loan will be under a 30-day, renewable contract, and you’ll have an option for an extension. We only keep your title while your loan is still active, and once it is paid off, we will immediately give you your title back, along with a thanks.
My car will be used as collateral.
Your car is not going to be used as collateral for your car title loan at Mid-South Title Loans. The only part of your car we’ll be using as collateral for your loan is your title. Your car does play a part in the process, though. We inspect your car to determine how much money we can loan you. The value of your car will affect what amount you receive, between $150 and $5000. So, it’s important to be driving your car that you title is for, when you come into the Memphis Mid-South Title Loans location near you.
I have to be in a good financial status to get a title loan.
This is certainly not true. While you may have to be in good financial standing to get other loans, a car title loan is not one of them. Our application process is unique, because neither your credit score, your financial history, nor your current job is a qualifying factor. We do not perform any credit or background checks, so if you don’t have perfect credit, we are a great place for you. We understand that you may be going through a tough financial time, and we want to do everything we can to help you through it, no matter what situation your finances are currently in.
I’ll be paying a lot of interest on my title loan.
No, you won’t. The best part about a title loan, compared to traditional loans and lines of credit, is that we don’t lock you into a long-term contract. Long-term contracts force you to pay a large amount of interest over time. Our contracts are under 30-day, renewable terms, and if you need more time to pay it off, you can. We want you to pay it off as quick as possible. We hope that the funds you receive are helpful in covering a small gap in your finances.
It will take days or weeks to get a title loan, and I need money now.
One of our customers’ favorite benefits about our title loans is that you get the money you need now, so you won’t be waiting days or weeks to get your funds. It’s what truly sets us apart from the competition. Believe it or not, you can get a title loan in as little as 20 minutes.
Our simple process works like this:
- Fill out our online application.
- Gather your current photo ID or driver’s license (showing you are 18 or older), your current insurance card, and your lien-free title (which is fully paid off).
- Drive the car your lien-free title is for to the closest Memphis Mid-South Title Loans location, where we will inspect it and determine the amount we loan you.
- Accept your loan amount and terms, in exchange for your lien-free title.
- Pay off your loan in 30 days or extend your contract for more time.
- Come get your title back, whenever you have paid the loan in full.
We want to make the process as simple and as quick as possible. We love being able to provide a quick and easy loan service to anyone with a lien-free title, who is in need of short-term funds. It’s our goal to help you with the money you need, when you need it most.
Find a Title Loan Near Me at Mid-South Title Loans in Memphis
Come to the quick and simple loan provider, Mid-South Title Loans, for your financial needs. We’ll get you the money you need, as soon as you need it, so that you can take care of your pressing financial needs. Have a question or want to learn more? Call us now or come into one of our convenient Memphis locations for a free car inspection. Also, feel free to contact us through our website anytime!
Proudly Serving Memphis, Tennessee & the Surrounding Areas
Mid-South Title Loans proudly provides title loans near me in Tennessee’s Memphis and Shelby counties, including the areas of Germantown, West Memphis, Midtown, Cooper-Young, East Memphis, South Memphis, Parkway Village, Whitehaven, Berclair, Raleigh Bartlett, Southaven, and the surrounding areas.