How Long Are Title Loan Contracts?

Car title advance loans can help you get quick cash to handle an emergency or any other expense. The contracts vary depending on the amount you’re borrowing, the vehicle/collateral, and your ability to repay. Georgia Title Loans offers loans from $200 to $50,000 with flexible repayment plans. Here’s what you should know about our title loan contracts and how long they last:

Repayment Period for Title Loans

When you take a title advance loan, the repayment period will depend on your loan amount and ability to repay. The goal is to establish a flexible repayment plan that doesn’t hurt your monthly budget. Loan contracts indicate the duration within which you must complete the repayment. If you take a small loan, you can repay within two weeks or a month. Higher loan amounts can take more months to repay. The contract can last up to a year or more, depending on how much you pay in monthly installments.

Title Loan Repayment Rollover

If you cannot make payments within the duration specified in the contract, you’ll have the option of a rollover. We can give you an extension to allow you to complete payments. Rollovers come with added servicing fees. If the loan repayment period is one month, a rollover can offer one more month, allowing you to repay the loan within two months. You’ll pay more for a rollover because of the added costs, so you want to pay within the stated period.

Early Repayment Options

You can repay your loan before the contract expires without prepayment penalties. Some lenders impose early repayment fees because they don’t want to lose interest, but we don’t. If you have the funds, you can repay the loan as early as the next day. We aim to provide quick loans to qualifying clients and recoup the amount within the contract duration. We allow our clients to repay loans at any time before the contract duration expires. You don’t have to wait until the last day to repay.

Default Loans

Sometimes borrowers need help to make a repayment within the specified duration. This may result in an extension/rollover with extra costs. If the borrower cannot repay the loan after the rollover duration, they risk losing their car. We give our clients enough of a grace period to repay their loans and repossess their car, truck, or motorcycle titles. We don’t intend to take possession of anyone’s collateral unless they default entirely. In such cases, the collateral can be repossessed and auctioned to finance the loan.

Get Your Title Loan Today

A title loan is one of the easiest loans to qualify for. All you need is a car, truck, or motorcycle, proof of employment or income, and a valid ID. Once we’re sure you can repay the loan within the required period, you’ll get approved and receive funds within the same day. Georgia Title Loans makes the process simple. You can apply online or call our locations in Atlanta. Bring your title and ID to our Lawrenceville Service Center and find how much cash you qualify for. Get your cash and continue driving your car. Make repayments on time to repossess your title.