Title Loans & Cash Advance Loans in Macon
An OppLoans Guide to Getting The Help You Need


Macon is full of rich history sprinkled throughout its city limits. Whether it be the historical sites of such places like the Ocmulgee National Monument, the Hay House, or even the Allman Brothers Band Museum. Yes, there is an Allman Brothers Band Museum. Macon is full of history and tradition that is unique to Georgia.

However, despite a rich and historical history throughout, Macon has its fair share of struggles. As a whole, 24.3 percent of Georgia residents live below the poverty line, and in Macon its even worse at 46.1 percent. [1] There are many resources for residents in Macon that are having both financial and social struggles and they are ready to help you right away.

Borrowing Money in Macon

Macon has many social services, charities, government programs, and community outreach programs that can all help you through tough financial situations. However, if you find yourself in need of money quickly, or if you’re struggling to make ends meet and could use some help, you might consider taking out a loan.

Before you take out a loan in Macon you should do research and collect as much information as possible. There are some loans that are better for you than others, and some are just flat out dangerous. Knowing all your options ahead of time will allow you to choose the best option.

Cash Advance Loans in Macon
There aren’t many bodies of water in Macon, but there are sharks!

At first glance, a payday loan can seem like a great idea, but much like the concrete canoe, it turns out to be worse than you thought. Cash advance loans can offer what you think is a quick solution to a problem of needing money right away. The trick is that the details are hidden in most cases and end up leaving the lender in more trouble than actually benefitting them. In Macon, payday loans are prohibited, but they still are handed out every day.

Cash advance loans work by having a borrower take out a small loan, usually not larger than $500, for a two-week period or until their next payday. The lender then charges interest on the loan that can make it very difficult to pay the original loan back. Interest rates can be as high as 700 percent, and yes that number is insanely high and yes you read that right. If the borrower can’t pay back the original loan, lenders can roll-over the loan which means they simply extend the term of the loan. However, when a loan is rolled over, new terms are set, meaning they can again charge the borrower even more high interest.

Most cash advance loans are dangerous because they’re designed to keep the borrower in a debt that they will never get fully out of and are referred to a predatory form of a loan.

In Georgia, payday loans are prohibited, however that doesn’t stop companies from handing them out. [5] Despite being prohibited they are not regulated as well as they should be. If you feel you were mistreated by a lender and given a payday loan in Macon, you can call the Georgia Office of the Commissioner of Insurance at 404-656-2070.

Title Loans in Macon
Can’t afford to lose your car? Then you can’t afford one of these high cost loans.

People are very protective over their vehicles, which is why people say to never touch another person’s radio, it’s not your care. In that case, it’s best to imagine title loans as having someone else touch every nob in your car and just because they can without you doing anything about it. Title loans are dangerous and a form of predatory loans, and as a means of doing what’s best for yourself and your vehicle, you should avoid them.

Title loans work by having the borrower put down their car as collateral to secure the loan. Lenders will evaluate your vehicle and the amount of money you get in your loan is based on what they determine your vehicle to be worth. Usually, the amount of money given per title loan is no more than $1,000 dollars.

Where these loans get dangerous is with the APR and time frame attached to them. Title loans have on average an APR that is 300 percent. This means that a borrower would pay three times the amount that they originally borrowed in fees and interest. On top of that, these loans are due within 30 days of having been opened. This means the borrower has a month to payback the amount of money they received. If a borrower can’t pay back the original loan, which is usually the case due to the high APR, the lender has the right to either roll over their loan and charge more fee’s and a new APR, or repossess the borrowers’ car. This means the borrower could either end up owing even more money and continue to roll over their debt until they manage a way to pay it all off, or be without a vehicle. It’s a lose-lose situation for the borrower every time..

In the state of Georgia, title loans are regulated by pawn shop laws, which means that lenders can repose your car and even charge you a fee between $50-$250 to do so. [7] If you feel like you have been given a bad loan or were mistreated by a lender and given a payday loan in Macon, you can call the Georgia Office of the Commissioner of Insurance at 404-656-2070.

Personal Installment Loans in Macon
Safe. Secure. Trusted.

If you’ve had credit trouble in the past, you may have a tough time getting a loan from a traditional bank. Bad credit can force borrowers into payday loans, title loans or pawns shops, but that doesn’t have to happen. Personal installment loans have longer terms than payday loans, lower rates than title loans, and they’re not secured with your valuable items.

If you need money now, a personal installment loan is very likely a better, more responsible alternative for you to consider.

OppLoans offers personal installment loans up to $5,000 and always strives to deliver fast, flexible, fair and five-star service:

  • Fast: Apply online and find out if you’re approved in minutes. Once approved you can get your cash as early as the next business day.
  • Flexible: We offer longer terms, larger loans, and affordable, fixed payments. Your monthly payment will be the same throughout the life of the loan.
  • Five-Star: Customers rate us 4.9 out of 5 stars for our friendly service. We also provide discounts for credit education.

Call an OppLoans Loan Advocate today at 1-(800) 990-9130 to discuss the most efficient and safe way to get money into your account by the next business day.

More Resources:

See more local Georgia guides below:
Atlanta | Augusta | Columbus | Macon

References:

  1. “Poverty Data in Macon, Georgia.” Data.com. Accessed August 1st, 2016. https://www.city-data.com/poverty/poverty-Macon-Georgia.html.
  2. “Summit exploding heroin abuse.” Justice.gov. Accessed August 1st, 2016 https://www.justice.gov/usao-ndga/atlanta-summit-exploding-heroin-abuse-and-overdose-deaths-georgia.
  3. “Quick Facts: Georgia.” Census.Gov. Accessed July 1st, 2016 https://www.census.gov/quickfacts/table/PST045215/13.
  4. “Georgia falls to second worst uninsured rate in US.” GBPI.org. Accessed August 1st, 2016 https://gbpi.org/georgia-falls-to-second-worst-uninsured-rate-in-u-s/.
  5. “State Information – Georgia” GPaydayloaninfo.org. Accessed July 1st, 2016. https://paydayloaninfo.org/state-information/18.
  6. “Single-payment vehicle title lending” ConsumerFinance.gov Accessed July 1st, 2016 https://www.consumerfinance.gov/data-research/research-reports/single-payment-vehicle-title-lending/.
  7. “State Law Term Chart – Georgia.” Consumerfed.org. Accessed July 1st, 2016. https://www.consumerfed.org/pdfs/Resources.CTL.StateLawTermChart12.2.12.pdf.
  8. “Pawnshops and Title Pawn.” Georgia.gov. Accessed July 1st, 2016. https://dbf.georgia.gov/pawnshops-title-pawn.

*OppLoans is not affiliated with any of the programs, services or organizations referenced on this page.