Are Title Loans Allowed in Illinois?

 
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Are Title Loans Allowed in Illinois?

Title loans are a secured form of lending that use the vehicle’s title as collateral to make funding available.

Generally, title loans are a popular option for those who need funding quickly but who don’t have the best credit. Although title loans are not available in every state, they are available in the state of Illinois!

If you are thinking about inquiring for a title loan in the state of Illinois, it may be helpful to know more about the process. Below, you’ll find more information on how to obtain an innovative title loan in Illinois, known as a ChoiceCash Title Loan serviced by LoanMart1.

What is a ChoiceCash Title Loan and How Does it Work in Illinois?

A ChoiceCash Title Loan, serviced by LoanMart, is a unique kind of title loan. This type of funding comes with all the benefits of a standard title loan, such as fast funding and flexibility.

Here is how the ChoiceCash Title Loan process will work for eligible Illinois residents:

  • Reach Out to a Loan Agent—An applicant will have to fill out a short inquiry form. This can be done over the phone by calling (888) 742-7153 or completing the online inquiry. The information provided will give a loan agent a rough look at the applicant’s finances, car details, and lending needs.
  • Send in the Required Documents— Once the initial inquiry form is filled out, a loan agent will get in contact with the applicant to discuss details about the loan and eligibility.

    Following contact, a loan agent will request a few documents to verify the applicant’s information. If approved, the contract will be generated, which will include the terms and repayment details.

  • Get Funding— Once a title loan contract is generated, agreed upon, and signed, the funding from a ChoiceCash Title Loan can be made available!

Although ChoiceCash Title Loans work in a similar fashion as other title loans, they come with several unique perks.

Where Can I Get The Funds From a ChoiceCash Title Loan in Illinois?

To add even more convenience to the process, once an applicant is approved, the funds can be made available in a variety of different ways—picked up at a local MoneyGram, transferred straight to a bank account, or mailed in the form of a check.

What Documents Will I Need for a ChoiceCash Title Loan in Illinois?

In order to complete the ChoiceCash Title Loan inquiry in Illinois, an applicant will need to submit the following documents/information:

  • A valid government-issued photo ID (state ID, driver’s license, or passport)
  • The vehicle title in your name
  • Proof of income (paystubs or bank statements)
  • Proof of residence (mail or lease/mortgage information)
  • Four references
  • Photos of the car
  • Other documents may be requested for clarification of information

What Are the Different Benefits of a ChoiceCash Title Loan in Illinois?

Here are some of the benefits that make ChoiceCash Title Loans unique from other title loans in the industry:

Competitive Interest Rates for Residents of Illinois

ChoiceCash Title Loans come with extremely competitive interest rates. This could mean huge savings over time!

Loan Rewards for Those in Illinois

One of the most unique aspects of a ChoiceCash Title Loan is that they come with loan rewards. Those who make consisten on-time payments can look forward to a lower payment each month2. Along with that, eligible borrower may even be able to borrow additional funding at that same lowered rate.1, 2

Flexibility Throughout the Lending Process in Illinois

With a ChoiceCash Title Loan, borrowers will find flexibility with each step. Whether it’s the initial inquiry process or receiving funds, ChoiceCash Title Loans offer tons of options to provide unmatched flexibility.

Exceptional Customer Service for Residents of Illinois

ChoiceCash Title Loan agents are helpful, transparent, and honest. They can be contacted 7 days a week and consistently make the customer a priority.

Easy Repayment for Residents of Illinois

When paying back a ChoiceCash Title Loan, a borrower will get up to 3 years to pay back the loan3—this is three times longer than what the average title loan lender provides. Along with that, there are no prepayment penalties or hidden fees!

Borrowers in Illinois Get to Keep and Drive Their Vehicle

Even though an applicant’s car title will be used as collateral with a ChoiceCash Title Loan, the convenient thing is that a borrower will get to keep and drive their car while making consistent monthly payments!

To get the ChoiceCash Title Loan process started in Illinois, head over to the informational webpage!

When looking for a title loan in the state of Illinois, it is important to know the right questions to ask. Knowing these details can help you make an informed lending decision. If you find yourself on the search for title loan lending in Illinois, start with ChoiceCash Title Loans, serviced by LoanMart!

ChoiceCash Title Loans offer competitive monthly payments, which may get even lower moving forward.2

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