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An Introduction To Car Title Loans
Car title loans or auto title loans are given for the titles of vehicles. Automobile owners who are in need of ready cash can opt for these loans. Loan companies will hold only the title of your car while you continue using it. Loans are available to almost anyone who has a clear title of a paid-off vehicle, proof of income and identification and who has attained least 18 years old. Loan amount can be borrowed depending on the present value of your vehicle.
Most car title loan companies lend money without checking the actual credit. A person does not need to have a good credit to avail these loans. There are also companies which provide loans for vehicle owners with bad credit and for those who have gone bankrupt. You can get money very quickly for loan purposes, since most of the companies do not check your credit.
In general, car loans are usually given for every 30 days. At the end of each period, one can either pay off the loan or extend it for another 30 days by only paying the interest. You can also extend the loan for any number of times and can also pay off your loan at any time.
Applying for the loan is a simple and an easier process. This can be done by either calling up the loan companys local office or just fill in an online application form. Once this is done, a loan manager will get in touch with you for the further procedures. The company then inspects your vehicle completely. Once the inspection is over, the loan manager determines your vehicles present value and estimates how much you can borrow.
Loan companies offer different loan programs with flexible rates. You can choose a loan company that gives the highest buck for your car title at the lowest rate of interest. Cash loans for car titles helps you in providing a quick access to the money that you need while you still get to keep your car.
Car Title Loan Company
Car title loan companies are those that lend you money in exchange to the title of your car. You are required to hand over your car title along with a set of keys as collateral. Car title loans are the short-term loans that have a loan term of 30 days. Auto title loan companies lend title loans for cars, trucks, motorcycles, boats, RVs and other vehicles. The best thing about these loans is that you can take the money and still have your vehicle in your possession.
There are a large number of car title financers to provide you the loan. The lenders provide flexible loan terms to suit different needs. Most do not check the credit histories of borrowers and offer loans even for people with bankruptcies, no credit and bad credit. They can furnish the money quickly in a hassle-free manner.
Applying for car title loans through online financing companies is very easy. You need to fill in an online form and a company representative will let you know in no time whether you qualify for an auto title loan or not. There are few conditions in which the companies lend you money. Prospective borrowers generally need to have a clear title to their car. Loan companies then assess the vehicles and estimates the amount which you are eligible to borrow.
Most loan companies provide flexible loan terms. They give you the option of extending your loan for another month once it is payable. This can be done by paying the interest at the end of the loan term. Loans can be paid off at any time and do not carry any pre-payment penalty.
These small emergency loans generally have an annual interest rate of a three-digit figure and are made for less than the value of the car. One can extend a loan for any number of times. Some companies even offer to refinance your existing loan which enables you a pay off an existing car title loan with a new one.