Best Title Loan Companies in Georgia

The southern state of Georgia is known for its southern hospitality, and a number of tourist spots such as Stone Mountain and the little-known Cumberland Island which is inhabited by wild horses. Juicy peaches, delectable pecans and some of the sweetest vidalia onions in the world make Georgia home to exceptional vegetables and produce. In fact, Georgia is referred to as the Empire State of the South which is understandable given its tremendous economic growth and outlook. According to Rich States, Poor States, Georgia ranks 15th in the United States for its total economic outlook and ninth in the United States for economic performance. 

But, it is the exceptional cost of living that makes Georgia a highly coveted state. Livingcost.org states that the average cost of living in Georgia is $1880 per month which places Georgia as the 27th most expensive state and the 33rd best state to settle down due to the affordable cost of living. 

Despite the affordable cost of living in Georgia, emergencies happen that require the need for additional funds at a moment’s notice. It is for this reason, access to title loans is important particularly for those with less than stellar credit.

Are Title Loans Legal in Georgia?

According to the Consumer Protection Division, title loans are legal in Georgia. The law that governs title loans in Georgia allows small consumer loans such as title loans for consumers. Title loans are offered at interest rates of 60% to 300% per year. 

Due to the variance in interest rates on title loans, you are advised to borrow responsibly as your car is used as collateral to secure the title loan and obtain immediate cash funds. If the title loan is not repaid, your car can be repossessed to repay the title loan.

How Does Title Pawn Work in Georgia?

Obtaining title loans in Georgia is not difficult, but it does require preparation. Being prepared expedites the title loan process. The following are tips to help you prepare to obtain a title loan in Georgia.

1. Choose A Title Loan Company - It is important to choose a quality title loan company. Take the time to research the available title companies in Georgia to determine which ones offer the best terms and rates. 
2. Prepare & Organize Documents - All title companies require specific documentation in order to process the title loan. Having this information readily available prior to starting the title loan application can assist in expediting the title loan process. The required information to process a title loan includes proof of income, car title, and valid government-issued identification. 
3. Complete Title Loan Application - The title loan application can be completed online or in person depending on the title loan company. It is important to complete the application  thoroughly and accurately. 
4. Acceptance of Title Loan - If approved, the customer must review the provided loan terms which includes the interest rate, duration of the loan, monthly payment terms, and repayment terms. If the customer decides to accept the loan, the title loan contract is signed, and the funds are provided to the customer via the chosen method (direct deposit, cash in hand, funds loaded on a prepaid debit card, etc.).

Taking the time to prepare for the application process will ensure that you receive a title loan approval expeditiously.

Best Instant Title Loans In Georgia

To help you obtain the title loan you desire, we have compiled a list of the best title loan companies in Georgia. Starting off the list are two companies that offer online title loan services for your convenience. Some people prefer to go through the loan process from their own home. In that case, clicking a link and filling out a form will get things moving in the right direction.

Top 5 Local Georgia Title Loan Companies

While Max Cash and LoanMart are reputable providers of online title loan services, some people may want to obtain a title loan in person. The following are five brick-and-mortar providers of title loan services in Atlanta, Georgia.

Do Title Loans Hurt Your Credit?

One of the many benefits of title loans is that credit is not needed to secure loan funds as your vehicle is used as collateral to determine the loan amount as well as to secure the title loan. This makes title loans a viable option for people who have poor or limited credit. While title loans do not require a credit check, they can have a positive or adverse effect on your credit rating depending on your repayment of the title loan.

If you’re looking to obtain a title loan and are also interested in improving your credit, check out our post on How Do Credit Repair Companies Help for more details on how to take charge of your credit rating.

What Are The Disadvantages of a Title Loan?

Title loans can be a convenience for those who are in need of cash assistance on a short-term basis particularly for those who do not have the best credit history. However, it is important to note some of the disadvantages of title loans for clarity. Because title loans do not require a credit check, the interest rates for such loans are usually quite high.

The Consumer Financial Protection Bureau (CFPB) reports Georgia is one of the 16 states that offers title loan services with triple digit interest rates. Those interested in obtaining a title loan are advised to consider the interest rates as well as the impact of using a vehicle for collateral. If you need money quickly and intend to pay it back quickly, then a title loan makes sense.

How Do I Get Out Of A Title Loan in Georgia?

If you are looking for a way to get out of your title loan obtained in Georgia, the best way to do this would be to pay off the title loan in full based on the repayment terms of your title loan contract. According to the 2010 Georgia Code 44-14-403, title loan repayments have a 30-day grace period with the option to extend the repayment terms on 30-day intervals. However, interest rates and charges obtained through securing a title loan cannot be circumvented and must be paid to satisfy the title loan in full.

If you cannot repay the title loan, default is an option, which allows the title loan company to repossess your vehicle. Lenders, however, would prefer that you pay off the loan and not default. So, be sure to communicate your situation and ask for a grace period or a reduction in payments. As long as you show a desire to pay back the loan, the vast majority of lenders will work with you.

Conclusion and Next Steps

If you are ready to obtain a title loan in Georgia, you can rest assured that our list of title loan companies have been thoroughly researched and vetted to ensure legitimacy.

Get started on your title loan application by visiting our recommended title loan lender, Max Cash. As an online loan broker, they will easily connect you to several title loan lenders in Georgia offering competitive terms and rates with a simple online application.