What is a Title Loan?Written by John Mussi
A title loan is a loan of money secured by a certificate of title to a motor vehicle. The title loan lender keeps certificate in case loan is not paid.
A title loan is a way to borrow money on your automobile title. When you get a title loan you receive money on your automobile. The process is fast and easy. If you have a clear title in your name, you are eligible for a title loan.
If you own your car, title loans can be a great short-term loan solution to your borrowing needs. Borrowers should be aware that Title loans, like any other type of short-term loan, attract a high interest rate.
Once a decision has been made as to how much you may borrow, title loan lender will hold vehicle title document while you continue to drive car. After principal and interest are paid your title document will be returned.
The title loan lender must give each borrower, at time loan is made, a written title loan agreement.
Magbility - expert help for the newly disabled Written by malcolm james pugh
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