Car Title LoansFast Action Finance
Title Loans also known as Car Title Loans, Auto Title Loans, Loans for Title & Loans Title are similar to personal loans received from a standard lending institution, with the only difference being that the borrower uses their paid off vehicle as collateral to secure the loan, not their credit rating. Because Title Loan lenders do not usually check a person’s credit, even borrowers with very poor credit can easily obtain a Title Loan. Typically, Title Loans are for no more than $5,000 up to a maximum of 50% of the vehicle black book value. When a borrower gets a Title Loan they get to keep and drive their vehicle and the lender simply places a lien against it. Title Loans are a favourable alternative to Payday Loans in that the interest is much cheaper, the term is usually at least one year in length and a borrower does not get trapped in an endless cycle.