If you are short on funds for an unexpected expense or financial emergency, a car title loan in Enid could be one option to get the funds you need quickly!1 Auto title loans in Oklahoma are known to offer a fast process with more flexibility and faster processing than many other loan options!
What are Title Loans in Enid and How Can You Qualify?
Enid car title loans are cash loans that are secured by the borrower’s vehicle. Compared to traditional lending options like bank or credit union loans, they tend to come with more flexible approval requirements, but borrowers must agree to use their car or truck as collateral for the loan.1
In order to qualify for a vehicle-secured loan in Enid, residents need to meet the lender’s basic qualification criteria. While those can change from one lender to the next, they generally include:1
- Ownership of a paid-off or nearly paid-off car or truck, with an Oklahoma-issued title
- Verifiable income
- Being of legal age
Whether you apply from Enid, Ardmore, Norman or anywhere else in Oklahoma, upon initial approval, you will likely need to provide several documents that the title lender or servicer will use to verify your loan application information. Usually, the required documents will include:
- Recent pictures of your car or truck
- Proof of your identity through a picture ID (e.g. an Oklahoma driver’s license)
- Proof of your address in Enid (e.g. a phone bill or utility bill)
- Proof of your income
Once the documents are reviewed and verified, you can be on your way to finalize your car title loan in Enid.1
Frequently Asked Questions about Title Loans in Enid
- What kinds of interest rates do Enid car title loans have?
Title Loans in Enid can have competitive interest rates when compared to other bad-credit loan options like payday loans. They will however generally be much higher than the interest rates and APRs for bank loans or credit union loans. - Is a visit to a loan store required for an auto title loan in Enid?
If you decide to apply with a store-based loan provider, you may need to visit a title loan store near you to apply. However, online options like car title loans serviced by LoanMart come without the hassle of having to drive to a store. With title loans serviced by LoanMart, you can apply online and even complete the required vehicle inspection online! - How fast can you access the funds?
A title loan in Enid can be a very fast and accessible way to borrow! With title loans serviced by LoanMart, you may be able to receive your loan proceeds as fast as same-day, if you apply on a business day and provide the required documents quickly.1 3
Benefits of Title Loans
If your borrow against your car in Enid, Moore, Edmond or somewhere else in the Sooner State, there can be various potential pros to choosing a secured loan over other credit options. Depending on your individual circumstances, here are just a few that may apply to you:1
Affordable Payments
Title loans can offer affordable payments, especially if you find a lender that offers competitive rates and reasonable repayment terms. With title loans serviced by LoanMart, you may be surprised how manageable your payment can be! Also, there are no extra fees to pay off your loan early, and no balloon payments at the end of your loan term! 5
Extended Time for Repayment
Enid residents may qualify for extended repayment terms.1 While some bad credit options like payday loans or unsecured loans may require repayment within just days or a couple months, an auto title loan in Enid may offer significantly longer repayment periods.
Fast and Convenient Funding
Title loans are known for being fast and efficient. Upon approval for an Enid vehicle-secured loan serviced by LoanMart you may be able to receive your funds as fast as same-day!1 3
Good Credit is Not Required
If you are worried about your credit score or credit history, you may relax! Even with bad credit history, you may still be eligible for title loans serviced by LoanMart!1 Since car title lenders focus more on the applicant’s income and vehicle value, qualifying for an auto title loan can be possible even when you don’t meet the lending requirements for other credit options!1
How You Can Make Payments on an Auto Title Loan in Enid
Title loans in Enid serviced by LoanMart have several convenient payment methods available. You can pay through a bank account, payment card, and even make payments in person at participating money transfer businesses, including MoneyGram.
For your convenience, you can use the below map to find a MoneyGram location near you.
