Title Loans in New Orleans, LA- Gould Car Title Loans

Apply Online

Whether you’re dealing with an expensive home repair, past-due bills or another financial emergency, title loans New Orleans are one way that you can get the money you need right away. To help you obtain a loan as quickly as possible, we’ve developed an efficient online application process right here on our website. Start by going over to our online title loan application form and filling in the following information about the car you’ll be using as collateral:

  • Year
  • Make
  • Model
  • Approximate Mileage

In addition, we ask for your contact information. After submitting online form, you will receive an instant quote on how much you can borrow on your car. Next, you will receive a phone call from one of our representatives who will help you to finalize the application process. The last step is getting money transferred to your bank account in 24 hours!



How Title Loans Work in New Orleans

Want to get more information on how the title loan process works? We’ve got you covered with a full breakdown. Every state also has its own laws regarding title loans, so title loans New Orleans will follow the regulations set by Louisiana. We’ve included information on those regulations, as well.

Title Loan vs. Payday Loans

When you obtain a title loan, you’re using your car as the collateral for the loan. Because there’s collateral on the loan, it’s a secured loan, which makes it different from an unsecured loan that doesn’t have any form of collateral attached to it. Unsecured loans, such as payday loans, have far higher interest rates. Even though you’re using your car as collateral, you still get to keep it throughout the term of the loan. All the lender has is your car title, which you get back upon repayment of the loan.

Title Loan Terms

Louisiana does have regulations in place regarding the length of title loan terms and their interest rates, so it works a bit differently than it would in other states. While many states have title loans with 30-day terms, in Louisiana, the minimum term for a title loan is 2 months. This is beneficial to borrowers, because it gives you more time to pay back your loan.

Keep Driving Your Car

If you’re having trouble making a payment, it’s important to communicate with us. You can likely roll over the loan to solve the problem. The vast majority of title loan borrowers, both in New Orleans and across the nation, don’t have any issues with repossession and keep their cars throughout the title loan process.

Interest Rates

Louisiana sets a maximum interest rate on title loans at 36 percent. At Gould Car Title Loans, we strive to offer competitive interest rates to keep customer satisfaction as high as possible. If you’re unable to pay back your title loan within the repayment period, then you can roll over the loan, meaning you pay only the interest and carry the loan principal over to a new repayment period. This does add a new interest charge for that new repayment period, but this is a good option if you need more time to pay back your loan.

How much you can borrow

The state also requires that title loans must be for $350 or more. Most borrowers want at least this much money, so this doesn’t have a significant effect on the title loan process. The maximum you can obtain through a title loan depends on the current market value of your car.

Repossession

Now, if you default on your loan by failing to make your payment, then the lender does have the right to repossess your car. Keep in mind though that lenders don’t want to repossess your car. The entire repossession process, along with the sales process, is a time-consuming, costly endeavor. We would always prefer that you pay back what you borrowed and avoid repossession.


Contact Us

It would be great to hear from you! Just drop us a line and ask for anything with which you think we could be helpful. We are looking forward to hearing from you!