Online Title Loans In Louisiana With No Store Visit

 

If you live in Louisiana you no doubt understand how difficult it can be to pay for expenses and financial emergencies that come out of nowhere. The cost of living can be high in cities like New Orleans yet at the same time, salaries and other wages in Louisiana are often the lowest of any state. Because of those financial issues, many people turn to emergency cash loans to pay for things like medical emergencies or unexpected bills.

One option to consider for anyone living in Louisiana involves using a car as collateral for a secured loan. This type of loan is often referred to as a car title pawn or auto title loan and most applicants in the Pelican State can get approved with just the vehicle’s title as collateral. Your loan will be issued for a term of anywhere between 3 and 24 months and the funding amount depends on the car’s value. We see title loans go all the way to $15,000 for certain cars and trucks, but most people will borrow amounts between $1,000 and $2,500. Remember, your car’s title is what gets you qualified. Keep driving the vehicle and you will simply sign over the pink slip to the lender as collateral.

 

Are Car Title Loans Always Allowed in Louisiana? What Are The Current Restrictions

The title loan laws in Louisiana actually allow for title pawns and car title loans, but there are some restrictions. The first restriction is that the vehicle title must be free and clear of any other outstanding liens or loans. You can’t borrow against a car title that’s already being used as collateral elsewhere.

Another restriction has to do with the value of the vehicle. Louisiana law stipulates that the maximum loan amount cannot exceed 70% of the wholesale value of the vehicle. In order to find out how much your car is worth, you’ll need to look up its wholesale value online using a service that checks your car’s resale value based on similar sales in Louisiana over the past year. Once you know what the car’s worth you can use a title loan calculator to determine an estimated loan amount and payoff timeframe.

While a title loan estimate can be helpful for someone who wants to map out the interest rate and total amount paid, it won’t always be accurate. This is because your vehicle still needs to go through a full inspection at a licensed office in Louisiana. During this checkup, it will be determined how your car compares to the current resale value in LA and if there are any conditions or mechanical concerns that need to be addressed before the loan can go through.

New Orleans citizen with a car that qualifies

The Bottom Line on Louisiana Title Loans

Whether you live in Baton Rouge, New Orleans, or Shreveport, a title loan can provide you with emergency cash when you need it most. Just remember that title loans are only available to those who own their vehicles outright and that the maximum loan amount within the state is 70% of the wholesale value. If you’re still not sure if a title loan is right for you, consider all your other options like personal loans, title pawns, or payday loans.

Am I Eligible For Car Title Pawns in Louisiana With A Bad Credit Score

You may be wondering if you’re eligible for title loans in Louisiana with a bad credit score. The good news is that title loans are available to nearly all applicants regardless of credit score or financial history. That’s because title loans are based on the value of your vehicle, not your creditworthiness. As long as you own your car outright and it has a clean title, you should be able to get approved for a title loan in Louisiana.

One thing to keep in mind is that title loans in Baton Rouge come with a higher APR than traditional installment loans, because they are considered to be high-risk loans. The majority of lenders won’t check your credit score and because of that, they’re taking on a bit more risk than what’s common with personal loan offers. For those with decent or good credit who are looking into title loans in Louisiana, we would highly recommend applying with a company offering unsecured loans. You don’t run the risk of a car title loan repossession for a payday loan or bank loan and sometimes the interest rates can be lower with these as the loan amounts are often less than $500.

Apply For Title Pawn Loans In Louisiana

Are you likely to be denied a traditional loan because of your bad credit score or request for a higher loan amount? If you’re ready to apply for salvage title loans or a title pawn and know that a vehicle loan is your best bet then feel free to start on an online application with Title Pawn Online. We work with customers all over the state of Louisiana and will do our best to give you a no hassle experience when processing your application!

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