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Title Loans in Woodstock, Illinois


With the high costs of medical bills, car repairs, home appliance replacements, and many other common expenses, one sudden financial hardship can put you in debt. If you aren’t able to pay your bills, you could rack up late fees and end up with a much lower credit score. These consequences make it imperative that you find a solution to your troubles as quickly as possible, and one popular option among consumers is title loans Woodstock.

When you get a title loan, the application process is very fast, approval rates are high, and you don’t need to go through a credit check. At Marroquin Title Loans, we decided to make that application process even more convenient by setting up our own efficient online application for title loans Woodstock. You’ll find that application right here on our site, and it takes under 30 seconds to complete. Just go over to the application form and fill in the following information about the car that you’re planning to use as collateral on your title loan:

  • Year
  • Make
  • Model
  • Approximate Mileage
  • Full name
  • Phone number
  • Email address









Once you’ve clicked Submit, we can preapprove you for your loan and calculate your car’s current market value, which helps us come up with your free car title loan estimate, which is contingent on the car’s condition. We’re also going to have one of our Marroquin Title Loans representatives follow up with you at their earliest convenience to answer any of your questions about title loans.
What about the documents you’ll need to obtain a title loan? The first thing we need to see when you come in is your government-issued ID, because federal law requires all title loan applicants to be at least 18 years of age or older. State law stipulates that your title loan payments can’t be more than 50 percent of your gross income every month, so we’ll also need to see proof of income, such as a paystub or bank statements. We’ll check your car to see what type of condition it’s in, and before we can issue the loan, we need to get your car title from you. As soon as your loan is paid off, you get the title back.

About Us


It’s a common source of frustration, particularly when you’re trying to get a loan right away – pulling up listings for loans in other towns or cities when you’re looking for a car title loan in Woodstock. Fortunately, you don’t need to worry about that when you come to Marroquin Title Loans, because we made sure our office was located in Woodstock for the convenience of our customers. It doesn’t take long to reach us whether you use surface streets or the freeways to get here, and you’ll be able to spot our sign when you get close. There’s no shortage of parking nearby, so you won’t need to walk far.
A Marroquin Title Loans representative will give you the required loan paperwork when you get here, and that’s also a good time to tell them if you went online and got preapproved through our online application. Once you finish the paperwork, we’ll look up your car in a vehicle value guide and then briefly inspect it. After that, we just need to get your car title from you and we can issue you the title loan. How long will it all take? If we’re not too busy with customers when you come in, we can probably have you in and out within 30 minutes, and you’ll be heading out with cash in your pocket.

How It Works




Your title loan is a secured loan, and it’s secured by your car, which is the collateral. You still keep your car during the title loan, and all the lender has is your car title. Since the loan is entirely dependent on your car’s value, there is no credit check involved to obtain the loan.
For the most part, title loan regulations occur at the state level, so title loans Woodstock follow the laws in Illinois. The state limits title loan amounts to $4,000, and as mentioned earlier, the payments can’t be greater than 50 percent of your gross monthly income. Illinois doesn’t put a cap on title loan interest rates.

The standard repayment period on a title loan is 30 days. If you can’t pay it back on the due date, you have the option of renewing it by paying the current interest and starting up a new term with another interest charge. Illinois is unique in that it requires you to pay at least 20 percent of your loan principal before you can renew your title loan, and you’re only allowed one renewal.

If you don’t make your title loan payment, that is considered a default on your title loan, which gives the lender the legal authority to repossess your car. The lender is required by law to notify you about the repossession in advance and provide you with an opportunity to turn the car over to them. If you don’t do so, the lender can come repossess your car. Before the lender sells your repossessed car to recoup what you owe, you can pay your loan balance to get it back. If you’ve paid 30 percent of the loan principal or more, you can catch up on any missed payments.

In the event of the lender selling your car, they can bill you for any deficiency balance if the sale amount doesn’t cover what you owed. If the sale amount was greater than what you owed, then the lender must send that surplus amount to you. Repossession doesn’t happen often, and you can often avoid it by communicating with your lender if you’re having payment issues.