Virginia Title Loans

Online Title Loans In Virginia - What To Know

Online title loans are somewhat easy to get in Virginia because they are readily available from dozens of direct lenders within the state and, of course, through online providers. All you need is a vehicle and give it as collateral in exchange for a car title loan. A few states outlaw secured loans, but Virginia is not one of them. There are regulations on the books in VA that limit the amount of interest that can be charged, but you can borrow up to 70% of your vehicle's equity.

Another thing to know about title loans is that you can borrow much more than you would expect from a personal loan lender. Whereas payday loans come with loan amounts of around $400, a title loan that's based on the equity from your vehicle can you get $2,000 or more. So why would you deal with an unsecured lender that limits your loan amounts and checks your credit? Apply with Southeast Title Loans for higher loans and quicker loan approvals based on your vehicle's equity, not your FICO score.

 

Title Loan Laws in Virginia

Virginia allows car title loans and qualified applicants can apply for funding. Much like other states, Virginia has some basic regulations for online title loans. As in the case of standard, secure loans everywhere, they verify the value of your vehicle and then decide on the payment. So, title loans rarely check the credit status since they are designed for people like them. All you have to do is provide your government-regulated ID, fill out an application form they provide in the title loan office, and get your loan amount in 30 minutes. When you apply online, you will get a call asking about your vehicle details, and you need to visit their office with your collateral, i.e., your vehicle.

When applying with Southeast Title Loans, you must provide make and model details for your vehicle and an odometer reading. Any lender in Virginia will inspect your car or any of the vehicles you mark as your collateral, and they will take it. They provide a loan for a duration between 120 days and 12 months. It is never before 120 days and is against their laws.

 

 

Alternatives to auto title loans in Virginia if you live in other states. You can consider these options if you have a residence if you feel you can still qualify based on the lending rates and terms:

• There is no restriction on the amount you can borrow. The loan amount is not to be restricted to return within 10 days.
• Some companies restrict the loan terms to 2 years, and the interest rate can often exceed 50%.
• For higher loan amounts, loan terms cannot exceed 180 days.
• In Georgia, the loan terms aren’t regulated, and the interest rate can be between 10 and 100%.
• There are no regulations as much as in other states like Virginia. The only restriction is that the loan is renewable only six times.
• You may be able to cash out equity from a motorcycle or RV, but the only difference is that a title loan with no inspection is renewable only four times.
• The lending laws in Virginia are often changing, so you are best served to follow the state restrictions that govern secured lenders.

 

Virginia Title Loans - What Else To Consider

Title loans are still offered to some residents in Virginia, but you need to know how to apply and where to look. Perhaps it's better to apply online, or it's easier to fill out an application directly with a lender in Virginia Beach, Norfolk, or Richmond. Whichever way you choose to get started with an application, we recommend you first compare companies offering secured loans. Find a lender with fair rates and terms spelled out on their website.

Restrictions for short term lending are not set at the federal level, and it's up to each state to regulate title loan companies. It seems further changes are coming concerning title loans in Virginia. We expect increased scrutiny on interest rates and payoff terms, including payday loan offers.

Regardless of whichever unsecured loan or title loan offer, we recommend you run the numbers through our title loan interest calculator. This feature helps determine the interest rate or APR that best fits your needs.

 

Apply Now In VA With Southeast Title Loans

Southeast Title Loans has offered access to title loans in VA for years, and you can get approved and funded in one business day or less. You won't need excellent credit to get cash for your vehicle's equity, and you can keep driving your vehicle while making monthly payments! Please apply online with us anytime or call us at 1-800-308-1905.