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Title loans have a variety of different names like car title loans, auto title loans, pink slip loans, loan max title loans, title max loans, cash title loans, cash loans for car titles and the list goes on. They have different names because of the varying title loan companies that label them differently.
Basically though, title loans use the equity of a person's vehicle as leverage to get that person a loan. Many of the title loan websites will say, "a person can use their car as collateral for a car title loan!" Even though they are overly enthusiastic, essentially they are right.
Title loans are most commonly used as short-term loans. Some call them emergency loans. Another similar loan are called payday loans. Though they are similar - there are some differences.
- title loans come with better interest rates than payday loans (using the car as leverage for the loan allows this)
- title loans usually allow for a longer grace period before repayment (this probably varies between companies)
- title loans allows more borrowing power for customers - in some states it can be as high as $40,000 (payday loans usually allow people to borrow no more than $1500)
Those are the major differences. Each State regulates them differently. It is a fairly new industry, so States are becoming more strict with rules & regulations. This makes title loans a better option for consumers.
It is my opinion that they are best used to avoid ridiculous hidden fees & hidden charges by banks and credit card companies. Title loans can save people money.
Title loans are popular to 'those' people with no credit/bad credit (probably more now than ever). With this being said, people can be irresponsible with borrowing and may fall behind on repayments of the loan. In this event the title loan can be rolled over to the next month. Customers should NOT continue to roll over their title loans. This comes with expensive circumstances! To avoid this, it is recommended to only borrow what is absolutely needed and make the necessary financial corrections in your life ASAP to make repayment possible.
Title loans are only valid in certain states but the most popular is California, Nevada and Illinois. There are companies large enough to care about their future and have many partner companies to get the money.
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What companies provide title loan services in Kansas?
You can title loans in a lot of places in Kansas. You will have to put up your car as collateral though. Midwest Title Loans is a good company offering them.
Where can one get more information on title max loans?
There are many places where one would be able to obtain information regarding Title Max loans. One could visit the official TitleMax website for information regarding their loans.
Does national city bank offer auto title loans?
if you are looking for a loan go to 1 stop auto title loans they offer the type of short term loan you are looking for.
Are there companies that will buy back title loans?
Your question is a bit unclear however most companies do buy other companies title loans and give youa fresh start. One company is 800LoanMart.com
Loan for someone with no credit history?
People with no credit history or with bad credit can get a car title loan. Car title loans, also known as "auto title loans", "pink slip loans" or just "title loans", is a fast way to borrow money using a person's vehicle as collateral. The owner of the car is able to get the money he needs and also retain the use of his car while paying off the loan which makes it one possible solution.Some companies even refer to these loans as bad credit personal loans, because they are so suited to people with bad credit or even no credit at all.
Do you make car title loans?
Do you make car title loans
What different types of title loans are there for a motorcycle purchase?
There are several different title loans available for motorcycles. Motorcycle title loans are usually short term and expected to be paid back within 14 days. There are many options for motorcycle title loans. The loans may not be as big as those on a regular vehicle but can still help you out when you need it the most.
How do you say Title loan in spanish?
Cash for title loans
How do title loans work through TitleMax?
Title loans work easily through TitleMax. All one has to do is apply for a loan by bringing in the title for their car, get approved, get their cash, and then get their title back.
What are car title loans?
Car title loans are short-term, high-interest loans where borrowers use their vehicle's title as collateral. The lender holds the title until the loan is repaid. Borrowers can typically access a percentage of their car's value. These loans often have steep interest rates and can lead to repossession if not repaid on time.
Where can I find good information on title loans?
You can find a good overview of title loans at About.com (http://banking.about.com/od/loans/a/cartitleloans.htm). But I think the best place to check is the website of your state's Attorney General. There you will get information about the laws governing title loans in your state so you don
What are the laws for title loans in South Carolina?
iyear loan on the title of your car
What companies provide title loan services in Kansas?
You can title loans in a lot of places in Kansas. You will have to put up your car as collateral though. Midwest Title Loans is a good company offering them.
Are title max loans available in Canada?
Yes, title max loans are available in Canada. In fact, there are several companies that offer these loans. Try looking in the phone book for a loan company in your local area.
Can you get a title loan with a lien holder on the title?
Yes, try Cashtime personal loans
Are title pawn loans worth it Why?
A title loan allows you to sell you car quickly without a credit check or report. It is suppose to be used for short term situations. it is advised not to use title pawn loans on long term situations. you must have the title to your vehicle. title pawn loans are usually not worth it due to the high interest rates they charge monthly.
What type of lawyer deals with title loans?
A payday loan attorney uses to deal with title loans, which may be from any kind of vehicle, be it cars, motorcycles, trucks or vans. These lawyers are needed because interest rates on the title loans may go very high
