Car Title Loans Questions
Here we answer questions that our borrowers have frequently asked. If you have any questions about title loans that are not answered on this page, please visit our contact page to contact a customer service representative.
Q: What is a title loan?
A: Title loans are also known as car title loans, car equity loans, or auto equity loans. Title loans allow the borrower to use the title of their car as collateral in exchange for a loan. You will get your car title back when you pay the loan back in full.
There is no credit check when applying for a title loan. The amount of money that you receive for your loan is solely based on the condition of your car. People from any kind of credit background are eligible for a title loan as long as they have a car and are employed.
Q: How do I apply for a loan?
Applying for a loan is so simple it can be completed in just 3 steps.
- Please begin by filling out the application on our website to get pre-approved for a loan. You will immediately receive a free quote.
- Then, one of our representatives will call you to answer any questions and finalize your loan.
- Finally, you can pick up your Illinois title loan from one of our statewide locations.
Q: What do I need to provide in order to get an auto title loan?
A: All you need is:
- A paid off car
- The matching car title in your name with no liens
- A valid Illinois ID
- A letter or bill addressed to you
- The paystub from your most recent paycheck
- An extra set of keys
Q: How much money can I get with a title loan?
A: You may take out a loan anywhere between $100 and $50,000, depending on the condition of your vehicle.
Q: How long do I have to pay the loan back?
A: You may have up to 42-months (three and a half years) to pay.
Q: Can I pay off my loan in less than 42 months?
A: You will never be charged any type of penalty or fee for paying your loan back ahead of schedule. Some companies do this because they want to get the money that accrues from the interest over the month, but we encourage you to do what is best for your financial situation.
Q: How long does the entire application process take?
A: You can get your money the same day that you fill out the initial application.
Q: Why Naperville Title Loans?
A: Naperville Title Loans will always put you first. Our loan specialists are some of the most friendly and knowledgeable individuals in the industry. We always make sure that there is someone there to answer your questions or concerns and to offer information about title loans, regardless of what time it is.
We also only works with lenders that offer you flexible payment plans and low interest rates. We can get you a loan up to $50,000 and an entire 42 months to pay it off!
Q: Can I keep my car when I take out a car equity loan?
A: We understand that you have to drive to work, pick up your kids, buy groceries, and other various responsibilities. We do not want to inconvenience you by using the car itself as collateral. You can keep and drive your car the entire time you have a title loan.
Q: How do I get my money once I am approved for a loan?
A: All you have to do is go to the lender and pick up your cash! If that is inconvenient for you, you may have it mailed to your home or deposited into your bank account.
Q: What forms of payment do you accept?
A: You can pay with a Visa or Master debit card, money order, or a certified check.
Q: When is Naperville Title Loans available for business?
A: We take great pride in being available around the clock for our customers. We are open day and night, during the weekdays and weekends.