Lenders loan/pawn rates and charges range from 36%-360% APR. The interest rates on these products are high. You should consider whether there are other lower cost options available to you. If you have any questions concerning rates, charges or terms for any of our licensed vendors’ products, please ask a licensed vendor representative for further information. In each case, read your loan /pawn agreement for exact terms and conditions.
Policy on Responsible Lending
Lenders maintain a policy of providing consumers with the information and knowledge necessary to make informed, responsible loan decisions.
Lenders promote the informed use of consumer credit by rigidly adhering to Federal regulations requiring disclosures about loan terms and costs. Before consumers assume any obligation with a licensed vendor, they will be presented, in writing, with the exact rates, fees, and other details of their loan/pawn, as required under the Federal Truth in Lending Act.
Fair Debt Collection Practices
Where applicable, the vendors undertake all collection activity in strict compliance with the provisions of the Federal Fair Debt Collection Practices Act enforced by the Federal Trade Commission. TitleLoanCloud.com is not an actual lender and, as a result, does not collect debts from consumers. All lenders are required by law to follow all relevant laws, rules, and regulations. Applicable provisions of the Fair Debt Collection Practices Act prohibit the following:
- Contacting consumers by telephone before 8 a.m. or after 9 p.m.
- Contacting consumers by phone with the intent to annoy, harass, etc., or using abusive language at anytime.
- Collecting debt through deception or misrepresentation.
- Threatening legal recourse when no legal action is permitted.
In addition to applicable Federal regulations, individual States also have numerous laws regulating business in their States. These laws include, but are not limited to, regulations regarding interest rates, rollover limits, fees, charges, renewals and terms.
Submitting Your Inquiry
Submitting your loan/pawn inquiry at TitleLoanCloud.com incurs fee. TitleLoanCloud.com is not a lender and does not provide lending services directly to consumers. Based on the inquiry you submit, TitleLoanCloud.com provides you with options of lenders closest to you and suited to your needs. You will never be charged any fees by TitleLoanCloud.com.
Determination of Interest Rate/Fees/Charges
As noted above, the Truth in Lending Act requires disclosures about the terms and cost of consumer credit. All rate and fee information will be disclosed to you by the lender at the location before you sign any agreement. Please review all the rate information provided to you by the lender thoroughly and completely before signing any agreement. You are under no obligation to accept the terms provided by a lender.
Interest rates, charges, and/or fees are determined solely by your lender, with specific amounts determined based upon the information you submit at the lender location and applicable law. TitleLoanCloud.com has no involvement in the determination of these interest rates, charges, and fees. You are under no obligation to continue with the application process with the lender if you find the terms unsuitable.
Late Payment Policy
Lenders have varying policies regarding late payments. All licensed lenders must abide by each State’s regulatory requirements regarding late payments.
Your vehicle will be pledged to a lender as collateral for the loan/pawn. If you fail to repay the loan pursuant to an agreement or redeem your pawn within the applicable time period, your vehicle may be repossessed and sold. Additional charges may also apply.
Loan Renewal Policy
Loan/pawn renewal policies are largely governed by State regulations. In States where refinancing or repayment term extensions is allowed, interest rates, along with any late charges that may be assessed, can add a substantial dollar amount to the price of your loan/pawn.
There exists a common misconception that a poor credit history may result in a higher interest rate for a loan/pawn. Your credit score does not affect the interest rate, fees or charges determined for your loan/pawn. However, certain loan/pawn amounts may require that you undergo a credit check.