You home has suffered damage, and you have to come out of pocket to pay for repairs. Why is that when you have a perfectly good insurance policy on the house? Making sure you paid your homeowner insurance premiums on time, you were certain the policy would pay if something happened to your house. You were wrong. While most people understand the benefits of having home insurance to cover problems that arise, many are unaware that their policy may not cover everything. For example, to get flood coverage you need flood insurance, and you need a special policy for earthquake coverage. Other things a regular homeowners policy may not cover include mold damage, termite infestation, sinkholes and sewer backups. Bottom line, you need a lump sum of cash but don’t have it. Where do you turn? Title loans in Timberlane.
Title loans in Louisiana are simply a financial trade; you give your car title to a lender and they give you money. When you give the money back, the lender returns your car title. Participating in this trade requires you to be at least 18 and own a vehicle, which must be paid off or nearly paid off. The vehicle must not have liens or repossessions pending. You also need to have a source of income, although the money does not necessarily have to come from a place of employment.
Online title loan applications start with very basic information, including the make, model and year of the car being offered as security. Applicants need to also provide their name and contact information, as well as some general information about their source of income. Qualified applicants have their car looked over during a short five minute inspecting to check out the vehicle’s condition. Any upgrades to the car could mean a higher loan offer. Typically, applicants can get up to 85 percent of the equity in their vehicle. If everything looks good and checks out, a loan offer is made. After finalizing everything, including setting up a repayment plan, borrowers get cash money on the spot or can have it in a wire transfer.
Louisiana Consumer Credit Law governs title loans in the state. Under state law, title lenders may not loan less than $350, and loan terms must be for at least two months. Interest rates may vary.