Title Loans for People on Benefits: The Cash Store Review

This review of The Cash Store will find out whether title loans are available for people on benefits. The Cash Store has been operating for nearly 15 years since it opened in 1996. It operates in several States including Idaho, Illinois, New Mexico, Texas, Utah and Wisconsin. There are 320 stores all over America and you can apply online and pick the money up at any store. 

If you've got bad credit and need money fast then you can apply for a variety of loans that offer money same day. One important point that you must bear in mind is that the interest rates on all these products will be really high and you must be certain that you can afford the payments before you go ahead.

What Services do The Cash Store Offer?

There are three services that The Cash Store offers, all these services are available to people with bad credit and sometimes you can get the money the very same day. You can apply for a cash advance also known as payday loans; you can also apply for installment loans and title loans. With a title loan you can borrow up to $25,000 at The Cash Store. 

The only requirement is that you own your own vehicle free and clear which means that it’s all paid off. You must have a driver’s license, proof of income is only required in the State of Illinois. You also get to keep the vehicle and drive it as long as you continue making the payments.

There are three easy steps to applying for a title loan, the first step is that you apply online, you then go to the Cash Store to verify all the details and if approved you could get the cash the very same day. You need to show title proof that the vehicle belongs to you; you must also have a valid driver’s license and proof of income if you live in Illinois. Title loans are available in all the operating states, you could apply for a loan of up to $20,000 in Idaho, $4000 in Illinois, $2,500 in New Mexico, $20,000 in Texas, $20,000 in Utah, and $25,000 in Wisconsin.

What Are the Title Loan Rates and Charges for The Cash Store?

Loan rates vary from state to state. For a title loan payable in 30 days in Idaho the advance amount finance charge for a 12 year old or newer car at $500 is $128.50, the total of the payments will be $642.50 this represents an Apr of 304.17%. For cars older than 13 years the APR increases to 365% and the total payment for a $500 advance is $668.20. You can find all the title loan rates and charges applicable here.

Does Cash Store offer Title Loans to People on Benefits?

You can apply for a title loan if you’re on benefits, you do not need to show proof of income unless you live in Illinois. As long as your vehicle is paid for and you have complete ownership of the title you will get a loan depending on the age and condition of the car. If you have bad credit you can still apply for the loan.