Title Loans in Montana
If you are a resident of Montana and are in need of a fast cash loan, don’t let your bad credit get in the way. Contact us at TitlePlan and let us help you get the emergency loan you need by unlocking the value of your vehicle with a car title loan.
What Do I Need to Take Out a Title Loan?
If you are a resident of Big Sky Country and are interested in taking out a car title loan, chances are good you are curious about what kind of documents you need and what requirements you must meet to successfully apply for and take out a car title loan.
Unlike other types of loans, you will not be met with a laundry list of documents you will have to provide. In fact, the list of requirements is incredibly short.
In order to take out a title loan in Montana, you can expect to be asked to provide a valid government issued ID, a copy of your car lien-free title with your name on it, proof of income so that lenders can be confident in your ability to pay back your loan, and proof of your vehicle’s value. If you are applying for your title loan online, you will prove your vehicle’s value by sending over pictures or video of your car. This will allow your lender to determine its value. If you are interested in learning what the value of your car is likely to be prior to applying, you can go to Kelley Blue Book’s website and enter your vehicle’s information.
One thing that is important to remember about title loans in general is that lenders typically offer loans somewhere between 30 and 50 percent of the total value of your vehicle.
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What Can I Use My Title Loan For?
While many types of secured loans are quite restrictive in terms of what you can use your loan money for, title loans are very different. With car title loans, once the money is yours, it can be used for anything that you see fit.
While people typically take out car title loans to cover a financial emergency, there are quite a lot of things people put their title loan cash towards. Here are some of the most common expenses people pay for with their title loans.
There are quite a few other types of expenses that can be covered for a title loan, but what’s most important is to remember that once the money is in your hands, it is yours. Still, because of the fact that title loans are often short-term loans – meaning you will be expected to pay back your loan plus interest within a month – it is important to start saving up to pay back your loan as quickly as possible.
If you are unable to pay back your loan by the end of your loan term, you will typically be able to roll over your loan to another term, but that will lead to further interest costs.