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Title Loans Ohio

A title loan is issued by both banking and microfinance organizations. The latter offer more reasonable interest rates and a minimum repayment term for the amount of money issued. Most citizens who need a reliable financial partner choose banks with favorable terms for loans secured by a title.

When applying for a title loan Ohio, there are two options for securing a loan:

  1. transfer of the vehicle for the entire period of debt repayment;
  2. providing only the technical passport of the car.

The first option assumes more favorable lending terms, in the second – the car owner can own the car without restrictions, except for the sale and donation process during the fulfillment of the debt obligation.

The procedure for issuing a title loan Ohio is almost the same in all financial institutions. The main requirements for the borrower are:

  • be at least 18 years old;
  • be a U.S. citizen;
  • be employed and have a reliable source of income;
  • have a checking account;
  • have a valid email address and phone number;
  • ownership of the car or attested POA.

To apply for a title loan OH, you will need to provide:

  • an ID;
  • the second identity document (driver’s license);
  • a title (registration certificate).

Before applying for loan approval, it is worth exploring the different offers.

Title loan issuing procedure

The collaboration algorithm is usually as follows:

  • The client contacts the company representatives online or by phone and describes the car secured;
  • The specialist makes a preliminary assessment and talks about the details of the agreement;
  • The client arrives at the office of the organization with a set of documents;
  • Experts prepare all the necessary papers and provide an agreement for signing.
  • The client receives money, and the opportunity to solve the problems.


A title loan Ohio is somewhat different from other loans. In this case, the probability of failure is much lower. Let’s consider the main advantages:

  • guarantors are not required, since the pledged car will be the guarantee of payment for the promissory note for the bank.
  • getting approval for bad credit.
  • the ability to issue a large amount of money, subject to a pledge of a new and expensive car.
  • the minimum package of documents.
  • lower interest rate compared to other loan offers.
  • you can use the vehicle, provided that the title remains as a pledge.

Tips for choosing a lender issuing a title loan Ohio

When deciding on the choice of a lender, pay attention to the following factors:

Search the Internet for reviews of borrowers, if any. Analyze them carefully. You should also not trust the organization when every user praises it – they may have been false.

When you are in the office, study it: appearance, workplaces, employees. Everything must correspond to the declared status.

Terms and application
Read the terms and conditions in the agreement, if something does not suit you – do not sign.

Be sure to ask the employee about the presence of hidden fees and interest. In a good microfinance organization, everything is open to borrowers.

Requirements for a car

The requirements for a borrower may be different, but, as a rule, in order to get a loan, you need to provide:

  • an ID;
  • driver’s license;
  • title.
  • You must be 18 years of age or over when you receive the title loan.

A car of any age is accepted, the most important thing is that it should be on the move, not in a loan or pledge, and you would be its owner.

Important nuances

As a rule, it is the little things that matter. In the case of a title loan, this is the time for making a decision and the period for which the funds are issued.

A lender makes a decision within several minutes.

The bank can process an application for up to two weeks. Here everything happens at the discretion of a particular organization. The average period for which a loan can be approved usually does not exceed 1 year.

The loan term will be from 1 to 36 months. Moreover, the title of not only an auto, but also a truck, motorcycle, etc. can act as a pledge.

Repayment required

Any title loan requires repayment, if, of course, you want to return your movable property, in particular, to redeem a car from a pledge. But there are times, unfortunately, when a client, having taken a title loan Ohio out, does not pay it back. What will happen in this case?

There is only one result of non-payment – a car or title, if you received money on the security of a title, or other movable property becomes the property of a lender, of course, with your notification, and goes into the category of cars for sale. But you can decide everything and in favor of finding resources to pay off the loan all the same.

Non-repayment reasons

Therefore, we need to establish the reason for non-payment and in any case notify the lender about it. Perhaps our professional managers will help you solve the problem of non-payments. We try to take into account the situations and needs of customers and treat them loyally, which is why we are interested in helping our customers. Very often there are situations when a client does not pay a loan for objective reasons – he lost his earnings, went bankrupt, and the like. In this case, we try to help them out. There are companies that put pressure on clients with their loan term. We issue loans on comfortable terms for our car owners.

But there are cases, unfortunately, when it comes to scammers or swindlers who take money or a loan secured by title, and then disappear with them or play scams so as not to pay the deposit. In such cases, the return of the amount and the payment of the bail are established and requested in court when filing a claim against the car owner who has not paid the loan back.