Are you looking for a last minute Christmas present idea? If so, you may want to consider purchasing or getting a Commercial vehicle title loan.

No matter what the economy is doing, there is one business that always seems to be booming – commercial vehicle title loans. This industry has continued to grow each year since it began in 2004. Commercial truck title loans are becoming more popular by the year. With more people looking for short term lending options, truck title loans are a great option for many. They can also be a great investment opportunity for those who have money to invest in this way.

Title loans or short-term loans or  small-dollar loans are the ones that borrowers use to pay for expenses until their next payday. Most often, borrowers take out a title loan to solve a cash flow problem that lasts for just a few weeks—until their next paycheck. When users apply for and take out title loans, they also obtain the title to their car as collateral on the loan.

Borrowers usually pay about $100 in fees for every $100 borrowed, which results in an annual percentage rate of nearly 400%. In comparison, credit card interest rates range from 10% to 30%, depending on the card user. Considering the above-mentioned important aspects, it’s best to opt for title loans, if you have small expenses to take care of at the moment and you need quick cash.