For those who are having a hard time making ends meet there is a company that holds the answer to their problem that is known as auto title loan. How does this work you might wonder? It's very simple there are a few key requirements that one must meet before you can get a loan but at the same time it is nothing as complicated as the process you will go through with a bank or other more established financial institution and once the conditions are all met you will get your money.
One of the most common places where people turn to for help is to their bank. Unfortunately for most many loan applications are turned down for different reasons the most common being bad credit rating. When this door closes a lot of people are left wondering where to turn to and they think the only other option is to sell off anything valuable that they own. The problem with this solution is that you are not guaranteed a buyer and it could take weeks or months before finding one yet the money might be needed immediately. This is where a company such as auto title loan comes into the picture. This is a company that is willing to offer secured loans to car owners with the only security required being a car title certificate.
Secondly you do not need to have a brand new shiny car to qualify for a loan as any vehicle will do as long as it belongs to you. The amount of money that you can get is determined by the value of your car and you are allowed to borrow half its value as a loan. The third way in which they are different is in the fact that you can borrow small or large amounts of money from them and again this all depends on the value of your car.
Every car title loan has an annual percentage rate of up to 360%. While the car title loan can be paid off early with no penalty, the vehicle can be repossessed with one missed payment. Unfortunately, many borrowers are losing their transportation because of this. This "Secured lending" is supposed to be cheaper for borrowers than unsecured lending because the lender can look to collateral in the event of default. That security means that it is a kind of lending that is in a vastly different category than payday loans - and should not be compared to it.
Auto title loan also allow you to keep your car and use it normally which helps to make life easier for you. They also process their loans very fast and within two days at the longest you will get to know whether your loan application has been approved and if it has you will receive your money on the same day. They also have low interest rate charges which help to keep their loans affordable and flexible payment plans to pick from that are suitable for you.
One of the most common places where people turn to for help is to their bank. Unfortunately for most many loan applications are turned down for different reasons the most common being bad credit rating. When this door closes a lot of people are left wondering where to turn to and they think the only other option is to sell off anything valuable that they own. The problem with this solution is that you are not guaranteed a buyer and it could take weeks or months before finding one yet the money might be needed immediately. This is where a company such as auto title loan comes into the picture. This is a company that is willing to offer secured loans to car owners with the only security required being a car title certificate.
Secondly you do not need to have a brand new shiny car to qualify for a loan as any vehicle will do as long as it belongs to you. The amount of money that you can get is determined by the value of your car and you are allowed to borrow half its value as a loan. The third way in which they are different is in the fact that you can borrow small or large amounts of money from them and again this all depends on the value of your car.
Every car title loan has an annual percentage rate of up to 360%. While the car title loan can be paid off early with no penalty, the vehicle can be repossessed with one missed payment. Unfortunately, many borrowers are losing their transportation because of this. This "Secured lending" is supposed to be cheaper for borrowers than unsecured lending because the lender can look to collateral in the event of default. That security means that it is a kind of lending that is in a vastly different category than payday loans - and should not be compared to it.
Auto title loan also allow you to keep your car and use it normally which helps to make life easier for you. They also process their loans very fast and within two days at the longest you will get to know whether your loan application has been approved and if it has you will receive your money on the same day. They also have low interest rate charges which help to keep their loans affordable and flexible payment plans to pick from that are suitable for you.
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