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Car Title Loans

Car title loans come via cash advances from lenders, secured with the collateral of auto ownership.

The economy of the last few years has made life difficult for many people and living from paycheck to paycheck is not always easy. While the cost of living has gone up, many people have lost their jobs or had their pay frozen and in many cases this has made life harder for people. Many turn to other means of getting short term money to fund their requirements for both necessities and luxuries and if you own a vehicle a means of doing this is car title loans.

Car title loans, which can also be more commonly known as title loans, are basically a loan where a vehicle is used for collateral by the borrower. They are typically short term loans which have a higher rate of interest because the lender does not usually check the credit history of the borrower. Typically the only things that are required to get the loan is the car title for the vehicle being used as collateral and for the borrower to show that they are employed and have the means of a regular income with which to pay back the loan. In some cases a copy of the car keys may also be required by the lender.

Generally car title loans can be approved fairly quickly and if you own a vehicle and are in need of some short term cash it is an option to consider. While the car remains in your possession when you get the loan, you need to be aware that by putting it up as collateral you are at risk of losing the vehicle if you cannot keep up with the repayments. A car title loan should therefore be considered carefully if you intend to use it as a method of getting a loan.

However, if you decide that a car title loan is something that you can use, there are a number of companies that provide them. Auto Pawn is one of these and they can provide loans starting at $500 up to half the value of the vehicle being used as collateral. The interest rates they charge start at around 3% per month, although the rate you pay will typically depend on how much is borrowed and the length of time over which it is repaid.

Carbucks Title Loans is another company that offers car title loans. They have a regional headquarter in Wilmington, Delaware plus a number of local offices around the country and by filling in and submitting the online request form, a representative of the company will contact you to provide details of their service. No credit check is required and they offer loans on a number of vehicles including cars, trucks, boats, motorcycles and commercial vehicles.

Other companies to consider if you want a car title loan include AZ Cash-n-Go, 1-800 Loan Mart and Trading Financial Credit, all of which offer the service in a range of locations.

If you are in need of a short term loan and have a vehicle that you own, then car title loans are an option to consider. They offer quick access to money which can help when needed, although should be considered carefully as you are putting yourself at risk of losing your vehicle if you default on the repayments.

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