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Bad Credit Car Title Loan
If you are a car owner in need of ready loan, you can still get one despite bad credit. Many car title loan financers offer loans for car owners with bad credit, no credit and bankruptcies. They do not check credit histories and loan capital based on the value of the cars. Even if you have bad credit, it is still very easy in availing this short-term loan. Things to be done are to give the title of your car and a copy of your keys as collateral for availing the loan. A positive aspect about car title loans is that you get to keep your vehicle.
Car title loans are usually given for a period of 30 days and come with a lot of pay off options. When the loan is payable, the borrower may either pay off his loan and get his title back, or extend the loan for an additional period by paying the interest. You may extend the loan as many times according to your needs. Pay offs can be made at any time of the loan term and most companies do not charge for any prepayment fee or additional charge.
Car companies give out the loan money only after assessing the value of the vehicle. Aspects like the year, make, model and condition of the car are considered during the estimation process. The loan agreement is then made and the borrower gets the money.
Title loans are offered by companies for different vehicles including cars, trucks, vans, motorcycles, boats and others. An important criterion is that the borrower should have clear title of the vehicle. There are also few companies which provide car title loans to pay off existing ones. One can borrow up to 50% and more of the value of ones vehicle. Bad credit car title loans are wonderful options for the people who have bad credit histories in order to avail money in no time.
Car Title Loan Company
Car title loan companies are those that lend you money in exchange to the title of your car. You are required to hand over your car title along with a set of keys as collateral. Car title loans are the short-term loans that have a loan term of 30 days. Auto title loan companies lend title loans for cars, trucks, motorcycles, boats, RVs and other vehicles. The best thing about these loans is that you can take the money and still have your vehicle in your possession.
There are a large number of car title financers to provide you the loan. The lenders provide flexible loan terms to suit different needs. Most do not check the credit histories of borrowers and offer loans even for people with bankruptcies, no credit and bad credit. They can furnish the money quickly in a hassle-free manner.
Applying for car title loans through online financing companies is very easy. You need to fill in an online form and a company representative will let you know in no time whether you qualify for an auto title loan or not. There are few conditions in which the companies lend you money. Prospective borrowers generally need to have a clear title to their car. Loan companies then assess the vehicles and estimates the amount which you are eligible to borrow.
Most loan companies provide flexible loan terms. They give you the option of extending your loan for another month once it is payable. This can be done by paying the interest at the end of the loan term. Loans can be paid off at any time and do not carry any pre-payment penalty.
These small emergency loans generally have an annual interest rate of a three-digit figure and are made for less than the value of the car. One can extend a loan for any number of times. Some companies even offer to refinance your existing loan which enables you a pay off an existing car title loan with a new one.