Are you having a difficult time paying bills or dealing with emergency expenses? Premier Title Loans has a solution for those in Oklahoma who own a paid off vehicle. You can now use the equity from your car to take out a title loan. As long as you’re the sole owner and the vehicle has value you can get cash with a title loan in Oklahoma. The best part is that you don’t even need good credit and there’s a chance you can collect your cash that very same day you apply!
How Do Title Loans Work For Those In Oklahoma & What’s Required?
First off you will need to get started with an online application or you can contact us directly to go over your loan application on the phone. There’s also the option to meet with a direct lender that’s local to you in Oklahoma. Anyone in Oklahoma City can find a licensed local lender that’s near them and you’ll likely find a direct lender in larger cities like Tulsa or Norman as well.
The requirements for title loans in Oklahoma are based on the State’s Deferred Deposit Lending Act and are hopefully easy to follow. You’ll need to own a paid off vehicle that’s under your name with no liens against it. If you’re not the sole owner of the car, then you’re going to need permission from the other owner(s) before taking out a loan. You also can’t have any overdue payments on your title loan in Oklahoma, whether they are with us or another company. Essentially it all comes down to the fact that you must own the vehicle outright and you can’t have any liens or active loans that can be called up if you fall behind on payments.
Other requirements for a title loan in OK include the following:
– Proof Of Identity (Driver’s License, State Issued I.D)
– Vehicle Ownership Registration (The title to your car)
– Last 2 Paystubs Or 2 Months Worth Of Bank Statements (To show you can make the monthly loan payments)
Do I Need Good Credit To Get Approved For Vehicle Title Loans In Oklahoma?
You don’t need good credit for a title loan in Oklahoma and in fact most lenders in Oklahoma City won’t even check your credit report for missed payments or loan defaults. These secured loans are made for people with bad credit and it’s perfectly understandable that someone who seeks out a title loan in Oklahoma if they have a credit score that’s less than ideal.
If you have decent credit, then that’s fantastic and some local lenders will accommodate customers when it comes to getting the money they need at a lower rate from a licensed personal loan lender in Oklahoma. However, if you’re unable to get approved with us, there’s plenty of other lenders out there who may be able to help you out.
What Are The Benefits Of Oklahoma Car Title Loans?
There are many benefits for using online title loans in Oklahoma but the main benefit is that you can get cash with no credit check. You won’t have to worry about getting turned down because of issues on your credit report or other debts aren’t going to hinder your chances at getting approved for a vehicle title loan.
Another surprising perk of applying for a title loan in Oklahoma City is that there’s no prepayment penalty to worry about if you want to pay off your loan before the due date. The only downside would be that it may take up to 24 hours before you receive your cash after making an online payment, depending on when during the day you send the funds over or if you’re applying on a weekday opposed to a situation where you were looking for title loans on a Sunday or holiday.
What Are The Drawbacks Or Negatives Of A Title Loan in OKC
There are undoubtedly some things you need to know about title loans and the problems they can cause. The most glaring concern is the fact that someone who takes out a title loan in Oklahoma City can lose the rights to their car if they fall behind and miss payments. This is because a car is the security in the event that you default on your payment plan.
Another drawback that comes with car title loans is the sky high interest rates. Of course these loans are made for people with bad credit and you should expect an APR that’s in the high double digits, but it may be difficult to get out ahead of these loan payments for anyone in OK that borrows more than they can afford to pay back. That’s why you want to be very careful about which lender you work in the State of Oklahoma with as they all offer different rates and terms.
What Are The Top Auto Title Loan Offers In Oklahoma City?
At Premier Title Loans we pride ourselves on providing offers for some of the lowest interest rates in Oklahoma City, especially when you compare title loan rates and terms to those found at other lenders. We also make it easy and convenient for people to get money with a title loan in Oklahoma by accepting applications online and at locations in OKC and smaller parts of the state like Broken Arrow and Edmond. However you apply, there should be reasonable rates and financing terms with most of the larger secured title lenders in OKC and it’s important to narrow down your funding options quickly.
We look forward to working with you if you’re interested in getting approved for a car title loan in Oklahoma. Get started with our online application or contact us at 800-250-6279 to get cash for your paid off vehicle in less than 24 hours!