Fast and Easy Car Title Loans in Alabama
Need fast cash? As long as you have a vehicle with equity a car title loan in Alabama is an option to consider.
- From $100 to $10,000 plus
- No Credit Needed
- Instant Online Approval
- Direct Deposit Same Day
Title loans in Alabama similar to title pawns, in other words very short term loans. In fact, title loans is Alabama are governed by the Alabama Pawn Shop Act.
In that sense it is just like you were pawning your car, the only real difference being you continue to own and drive your car during the loan period. A summary of certain requirements follows.
Type of Title Loan available in Alabama
As we’ve written about many times, title loans are typically either single payment loans or monthly installment loans. These loans are structured very differently so it is important to understand the differences.
Single Payment or Monthly Installment?
Alabama title loans are single payment title loans (or title pawns). The full amount of the loan, plus interest and fees, is due at the end of the loan term. Sometimes you can roll over the loan however this can get very costly.
Advantages of a Title Loan In Alabama
A title loan is a great choice for Alabama residents for numerous reasons. One of the most important advantages is the ability to get an online title loan.
Another advantage is the ability to refinance the loan if necessary. A title loan refinance provides the opportunity to lower the interest rate and total loan costs.
Alabama Title Loan Interest Rates
Every state has different rules about how much interest a lender is permitted to charge. The maximum allowable interest rate in a Alabama is 25% per month. This is on the high end of the scale for title loan interest rates.
Just because lenders can charge up to 25% per month, however, does not meant that all lenders do so. In fact, some of the best title loan companies charge a fraction of this rate.
Alabama Title Loan Fees
In addition to interest rates, title loan fees are also regulated at the state level.
Lien Fee
Lien fees are the fees the lender pays to record their lien on your title. It is reasonable for a lender to recover this fee from the borrower, as long as it is the actual cost to record the lien.
In Alabama since the loan is considered a title pawn the lender does not record a lien on the title so there is no lien fee.
Other Title Loan Terms in Alabama
Some other terms that change from state to state include repossession requirements, roll over limits, and others. Find out why title loan roll overs are not a good idea.
Car Title Loan Benefits in Alabama
Fast Cash
Get the cash you need with a car title loan in less than 24 hours.
Keep Driving
Unlike a car title pawn, keep driving your car while making payments.
Best Rates
Keep more money in your pocket with the best interest rates.
100% Online
No need for a store visit or inspection, completely online title loans.
How to get a Title Loan in Alabama
Getting a title loan in Alabama is fast and easy. To get an in person title loan simply visit any title loan location and you can complete the process in about 30 minutes.
Fast Title Lenders specializes in online title loans. To get an online title loan in Alabama simply complete the instant online title loan application.
Find out About the Title Loan Process in Alabama
Fast Title Lenders helps you save time and money with getting a title loan fast in Alabama. The process is simple and easy with three high level steps:
Apply for a Title Loan Online
The first step in the online title loan process is apply online. The application process is usually fast and easy.
Complete Loan Agreement
Make sure to read the loan agreement in full before signing. Get the best title loan for your situation.
Get Funds Direct Deposit
Once completing your title loan direct deposit is a common funding method; checks can be mailed also.
Car Title Loan uses in Alabama
The proceeds from a title loan in Alabama can be used for any reason. Some of the common reasons borrowers get a title loan in Alabama include:
General Expenses
Many people get title loans to cover general expenses until they have time to get the funds from another source. Having equity in a vehicle makes it easy.
Car Repairs
The cost of car repairs and even general maintenance in Alabama can be expensive. When an unexpected car repair comes up, a title loan can help pay for the repair to keep your vehicle on the road.
Medical Bills
Medical expenses can also be significant in Alabama with a variety of factors determining the actual cost of the visit. Car title loans can be used as a short term solution for paying medical bills.
Home Improvements
Just like other services even a small home improvement can cost quite a bit in Alabama. Having equity in your vehicle makes it easy to go through with a home improvement using the proceeds from the loan.
Alabama Information
- Nickname: The Heart of Dixie.
- Statehood: 1819; 22nd state.
- Population (as of July 2015): 4,858,979.
- Capital: Montgomery.
- Biggest City: Birmingham.
- Abbreviation: AL.
- State bird: yellowhammer.
- State flower: camellia.
Area Codes In Alabama
205, 251, 256
Title Loan Locations in Alabama
Car title loans are widely available in Alabama. This includes all major cities and the surrounding areas. Finding a title loan near you in Alabama is easy with locations in:
Frequently Asked Questions
In most states completely online title loans are a convenient option. Simply apply now to find out more about getting a title loan online in Alabama.
One of the main benefits of a car title loan is the fact that they are secured by your vehicle. This means the loan amount is based on your vehicle value, not your credit score.
There is no prepayment penalty with most title loans in Alabama. The best title loan companies do not charge a prepayment penalty. This means you can pay your loan in full at any time to save on interest charges.
Yes, completely online title loans with no inspection and no store visit are often funded by direct deposit. Other funding methods include a debit card and check.