What is a title loan?
A title (when referred to this kind of loan) is an official document used to prove ownership over a certain asset. In order for the title to be valid, it has to meet certain requirements (mostly going through a series of administrative stages) Moreover, in order to be useful for getting finance, it has not only to be valid but also be free from restrictions (either judicial or administrative) The title represents the actual asset which remains property of the borrower but is used to secure a loan. If the borrower fails to make the corresponding monthly payments, the lender can claim the property through the legal action of repossession and recover his money from the selling of the asset. Different Title Loans There are as many title loans as properties that require titles. There are even loans that dont have specific names and are just called secured loans. There are also title loans that have an immaterial asset securing the loan (i.e.
It is a common belief that a title loan is a synonym of car loan. And though a car loan is a title loan, there are title loans that are not car loans. The title for any property that requires registration is suitable to be used as security for a loan as long as the property is worthy enough. This kind of loan has many benefits and there are many loan options available with a wide range of alternatives. A title (when referred to this kind of loan) is an official document used to prove ownership over a certain asset. In order for the title to be valid, it has to meet certain requirements (mostly going through a series of administrative stages) Moreover, in order to be useful for getting finance, it has not only to be valid but also be free from restrictions (either judicial or administrative) The title represents the actual asset which remains property of the borrower but is used to secure a loan.
A title loan is a short-term loan secured by your vehicle. We hold the title and an extra set of keys and You Keep the Car! Title loans range from $100 to $2500 and there is no credit check or waiting period. Loans are structured on a 30-day renewable contract. The entire process usually takes about 15 minutes. Call us or visit one of our convenient locations and let us show you why we think we are the best title loan company in the Kansas City area. Hours: Monday – Friday 9 a.m. – 6 p.m. Saturday – 9 a.m. – 3 p.m.
A title loan is a loan of money secured by a certificate of title to a motor vehicle. The title loan lender keeps the certificate in case the 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, the title loan lender will hold the vehicle title document while you continue to drive the car. After the principal and the interest are paid your title document will be returned. The title loan lender must give each borrower, at the time the loan is made, a written title loan agreement.
A. Title loans are a quick and convenient way for people who own their car without any liens (i.e., a lien-free title) to get cash using the car as collateral. It allows consumers to use an asset they own (their vehicle) to solve short-term cash flow problems. Without title lending, many consumers would be forced to sell their vehicle in a time of need, probably at a discount.
