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Are you dealing with a sudden expense without the emergency fund or the credit available to handle it? It’s always stressful when you’re in need of money that you don’t have. Consumers who have experienced the same financial hardships got the help they so desperately needed with title loans Mobile. A title loan is a great way to get cash without needing to go through a lengthy application process.

Here at Weiss Title Lenders, we’ve made it even easier to apply for a car title loan in Mobile through our online application process. It takes you just seconds to complete, and it’s available right here on our site. All you need to do is go over to the form and enter the following information about the car you’re going to use as collateral on your title loan:

  • Year
  • Make
  • Model
  • Approximate Mileage

Once you’ve submitted that form to us, we can use your car’s current market value to come up with a free car title loan estimate and get you preapproved for a title loan.

As far as the documentation you need for auto title loans in Mobile, just bring in your government-issued ID and your car title. We need to see your ID so we can verify that you’re at least 18 years of age, because federal law has set that as the minimum age to obtain a title loan. We keep the car title during the term of your title loan, and then we return it to you as soon as you’ve repaid that loan. Keep in mind that the car title does need to be lien-free, meaning it’s paid in full, and in your name.

About


When you’re looking for title loans Mobile, we’ll bet that the last thing you want to do is get stuck driving an hour or more away just to get your title loan, especially since you would need to make that same drive again later to pick up your car title. You don’t need to worry about that here at Weiss Title Lenders, because we’re located right in Mobile. You can get here quickly by taking either the freeway or surface streets, and you’ll know that you’re close when you see our sign. There are plenty of convenient parking options nearby, so you won’t need to walk far.

As soon as you walk in, you’ll be able to get started on a few pieces of brief paperwork with one of our friendly Weiss Title Lenders representatives. This is also a great time to ask any questions you have regarding title loans, and mention if you already went online and got preapproved for a title loan through our online application. Once you’re done with the paperwork, we’ll go outside to perform a quick vehicle inspection. We use your vehicle’s condition to determine its current market value. Finally, we’ll just need to get your car title from you, and then we can issue you your loan.

How long does it all take? When we’re not too busy with customers, we can usually get people in and out within half an hour. You’ll be leaving with your loan, so you don’t need to wait to get your money.

How It Works

For the most part, the federal government allows title loan regulation to occur at the state level. This means that title loans Mobile must follow the regulations set by the state of Alabama.

With a title loan, the loan is secured with your car as collateral. However, this doesn’t mean that anyone will be hanging on to your car during that time. You still keep your car during the term of the loan, and all the lender has is your car title. Since the loan has collateral on it, interest rates are lower than they would be with unsecured loans, such as payday loans.

In Alabama, the maximum interest rate for a title loan is 25 percent per month. The state doesn’t put any cap on how much you can borrow through a title loan, so that’s entirely dependent on the value of your vehicle. As long as your vehicle is worth enough, you can get as much as you need.

The term limit for title loans in Alabama is one month, which is a standard term limit for title loans in most states. If you find that you’re unable to pay back your title loan on the payment due date, you still have the option of rolling over your title loan, which means you’re paying just the interest and extending it for another term of one month. The loan principal carries over to this new term, and there is an additional interest charge. Even though you pay a bit more, this is a great way to buy yourself some more time to pay off your loan.

If you fail to make your title loan payment, that does mean that you’ve defaulted on your loan. This gives the lender the legal authority to repossess your car. When your car is repossessed, the lender must wait at least 30 days to sell it to recoup their losses. You can catch up on your payments during this 30-day period to get your car back, so you will have some time before the sale of your car.

Keep in mind that lenders really don’t want to end up repossessing anyone’s car. Repossession and sales take time, and it’s preferable for lenders if you’re able to make your payments. That’s why communication is important, especially if you’re having trouble coming up with the money to pay back your title loan. To avoid the costly repossession process, lenders will often work with you to find a payment solution, such as rolling over your loan to keep your car.

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