Car Title Loans
Are you in need of cash and think you might need a car title loan? Read on to see and understand how car title loans work.
Title loans are appealing because of their fast processing times meaning you can access money quickly. But you should think carefully before taking out a car title loan — can you afford a higher interest rate? This can make the loan more difficult to repay.
What Are Car Title Loans?
A car title loan is a loan that you secure with the title to your car. Typically, you receive a few hundred dollars and agree to pay it back in full—along with interest and fees—in two weeks to a month.
Best Car Title Loans
These loans can be appealing particularly if you would prefer not to have a credit check, the application process can take as little as 15 to 45 minutes, and you can continue to drive your car. Hence why people see these loans being the best over other types. But beware — they can mean trouble for borrowers.
How Do Car Title Loans Work?
When applying for one, the lender will assess the value of your car. They will then offer you a loan based on how much they think it’s worth. (Usually, you’ll get 25 to 50 percent of its assessed value.) A typical car title loan will be due in two weeks to a month, at which point you’ll have to pay back the loan—as well as interest and fees—in its entirety.
Car Title Loans Near Me
Believe it or not, title loans are legal in the following states: Alabama, Arizona, California, Delaware, Florida, Georgia, Idaho, Illinois, Kansas, Louisiana, Minnesota, Mississippi, Missouri, Nevada, New Hampshire, New Mexico, Ohio, Oregon, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, and Wisconsin.
However, because they’re so risky, several states have banned them.
Considering Options
Before you consider a title loan designed to trap you in debt or claim your car, consider borrowing money from friends or family, cutting back on unnecessary expenses, or taking out a legitimate personal installment loan.
Car Title Loans Online
LoanPigUSA can be accessed from any web-enabled device online. This means that it is easy for you to get a car title loan quickly. After you have submitted the information necessary, we can refer you to a direct lender in your state who can then help you from there forwards. The whole process with LoanPigUSA is completed online to give you a smooth and easy experience.