by nedrah | Apr 14, 2022 | Auto Title Loans, Car Title Loans, Title Loans
No one can deny a basic fact of life that every individual can encounter an emergency situation for which he or she may be totally unprepared. These emergencies can be related to a medical or health related issue or financial set-back.
In order to rescue themselves from such challenging situations, one tends to go for a loan using his credit score and loan bearing capacity. Even though these options are widely used, it takes a lot of time and paperwork to complete formalities. This time-factor makes it difficult for some people to access funds in time to meet their financial needs which defeats the entire purpose of taking a loan in the first place.
This is the reason why title loans and auto title loans are gaining popularity. Title loans, commercial truck title loans and auto title loans are slowly creating an exclusive niche market where specific funding needs of borrowers can only be met via these types of loans. The primary reason for this is that the loans are sanctioned quickly (within few hours) and require minimal documentation.
To help get the maximum benefit from a title loan, you must know of the following:
- The car ownership must be in your name – to put it simply, you must be in 100% ownership of your vehicle. This includes possessing:
- Car Title
- Car Insurance
- Vehicle registration
- Rate of interest is high – since these loans are short-term, it carries a higher rate of interest.
- Ease of Access – title loans can be availed by anyone irrespective of their credit quotient and loan history.
For more details, visit now.
by nedrah | Mar 31, 2022 | Auto Title Loans, Car Title Loans, Title Loans
Title loans or Auto title loans are one of the simplest solutions today for people who are looking for fast cash and that too in a short period of time.
There is a debate that definitely goes on as to whether title loans are better or worse as compared to other forms of loans. It is pertinent to mention that any loan can be a boon or a disaster depending upon how well has the individual planned before signing up for one.
Title loans and auto title loans have certain distinct features and advantages as well as few limitations hence it would be wise to conclude that these kinds of loans are for a specific need and situation.
Let’s understand reasons why a SC title loans may be considered as a good option for a borrower:
- Simple and Quick process – surely, a title loan can be completed, approved, sanctioned and disbursed in less than an hour! This allows a borrower with super fast access to money and it makes him ready to meet an unexpected financial challenge or crisis.
- Borrower only needs a car – which is sufficient for him to apply for an auto tile loan and have it approved. As soon as the loan is paid, the title is clear again.
- Borrower can use their car during the loan tenure – which allows them to continue life as usual and use their vehicles for work or personal purpose.
- Terms of loan and payment patterns are flexible
- It is less expensive than a cash advance
For more details, visit the website today.
by nedrah | Mar 25, 2022 | Auto Title Loans, Car Title Loans, Title Loans
Do you know- how car title loans started?
If you are new to it, then you are at the right place. Yes, in this blog, we will introduce you to the history of car title loans and how it all started.
Early 1990s was the time when title loans came into limelight and that opened a new market, where individuals with poor credit could seek loans. This specific feature of title loans grabbed eyeballs and since then it has grown increasingly popular.
According to studies by the Center for Responsible Lending and Consumer Federation of America, auto title loans have been one of the most popular forms of fundraising amongst people in the west.
Since these are unsecured loans, such as payday loans, they need collateral. For those who owned a vehicle, the car titles were the most reliable way to secure the loans. However, it came with a risk that the borrower could lose their vehicle if they can’t repay the loan. Irrespective of the circumstances, it invited high interest rates that always have APR in the triple digits. These huge sums of money are sometimes called “balloon payments”.
When it comes to the working then similar to a traditional auto title loan, it uses both the car title and the physical vehicle to secure the loan. And, it has the same risk and factors involved for the borrower but the best thing is that the borrowers get easy cash with quick approval.
by nedrah | Mar 17, 2022 | Car Title Loans, Title Loans
Before we get to Commercial truck Title Loans, let’s first try and de-mystify what a Title loan is and is not! A title loan is a type of short-term loan but with a very high rate of interest. This type of loan is most ideal for those who might not have a very high credit rating or salary figure yet are in need of money and want to sign-up for a loan.
A Commercial Truck Title loan is one in which your commercial truck or trailer will be used as collateral. It is an ideal option for truck drivers who spend most of their time on the road and have an independent style of living.
This kind of a loan gets sanctioned both on the ability of the buyer to payback and a lot more on the existing value of the commercial truck being used as collateral.
Few important points that must be understood about Commercial Truck title loans is as follows:
- A good or bad credit quotient is not a parameter basis which such a loan is granted.
- With a Commercial truck title loan, you get a much higher loan amount than any other vehicle title loan.
- If you meet the complete criterion, you may get a loan in less than 30 minutes. It’s that fast!
- Such loans however come at a very high cost and rate of interest.
- There is a very high-risk of loosing your truck if you continue to default on your payments.
A commercial truck title loan is an excellent option to procure a large sum of money to meet your financial obligations. You can get the Title loans without heavy documentation and paperwork as well as keep your vehicle during the payback period.
by nedrah | Mar 15, 2022 | Car Title Loans, Title Loans
Sometimes, we land up in a pressing emergency and require funds to support our short-term and long-term expenses. These funds may bee needed by us urgently however we might not have a strong credit quotient or salary figure to be eligible for such a loan.
A Commercial title loan or car title loan could be the answer to our problem and these loans are the best quick-fix solution to help us get out of a financial crisis.
A Car title loan is given on the basis of the value of your existing vehicle. Similarly, a commercial title loan is granted on the basis of the existing trailer OR truck that is in your possession. Both loans are rather simple to procure and require very little documentation and paperwork.
Commercial Title Loan Process
Even though this is a relatively simple and fast process, we need to understand the key steps involved in procuring a Commercial Title Loans or Car Title Loan:
- Firstly, it is important to know and confirm that the Commercial Vehicle Title is in your name as only then would you be eligible to even apply for a loan.
- Choose the lender and this could be your nearest bank or lender. A bank may seem to be the safer option but this could also mean that you face some delay and inefficiency, especially in the short run.
- Even though your vehicle may be worth a lot of money, it’s best to only take a loan amount that is exactly as per your requirements.
- Negotiate the best terms with the lender before signing the final contract which will include roll-over options and duration of loan amongst other things.
For more details related to Title Loans, visit now.
