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There are a few disadvantages to a car title loan including high interest rates. Loss of equity in the event of default and a short period of time to pay back the loan are also drawbacks to a car title loan.

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13y ago

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Do you make car title loans?

Do you make car title loans


Is it possible to have two title loans on the same car?

No, it is generally not possible to have two title loans on the same car as the car's title can only be used as collateral for one loan at a time.


What are car title loans?

Car title loans are short-term, high-interest loans where borrowers use their vehicle's title as collateral. The lender holds the title until the loan is repaid. Borrowers can typically access a percentage of their car's value. These loans often have steep interest rates and can lead to repossession if not repaid on time.


What are the laws for title loans in South Carolina?

iyear loan on the title of your car


How do title loans work through TitleMax?

Title loans work easily through TitleMax. All one has to do is apply for a loan by bringing in the title for their car, get approved, get their cash, and then get their title back.


What are some disadvantages of an auto title loan?

Auto title loans are risky at best. Interest rates are very high, it may become impossible to pay off the loan. A good article about the disadvantages of an auto title loan can be found here: http://articles.cnn.com/2008-10-08/living/aa.car.title.loans_1_car-title-loan-interest-rates-responsible-lending-for-title-loans?_s=PM:LIVING


What companies provide title loan services in Kansas?

You can title loans in a lot of places in Kansas. You will have to put up your car as collateral though. Midwest Title Loans is a good company offering them.


Car title loans reposse car if not pay?

YES! They took my friends car ans they can take you to court.


Loan for someone with no credit history?

People with no credit history or with bad credit can get a car title loan. Car title loans, also known as "auto title loans", "pink slip loans" or just "title loans", is a fast way to borrow money using a person's vehicle as collateral. The owner of the car is able to get the money he needs and also retain the use of his car while paying off the loan which makes it one possible solution.Some companies even refer to these loans as bad credit personal loans, because they are so suited to people with bad credit or even no credit at all.


Can you get out of a title loan on a car?

All title loans come with a contract. It is not likely that you will "get out" of the responsibility of repayment. You borrowed the money, pay it back or lose your car.


Do auto cash title loans put a lien against your car?

Auto cash title loans do not put a lien on your car. What happens is you surrender the title to the loan company and they give you cash. If you fail to pay back the loan, they have the title and are now able to legally come and take your vehicle.


How Many Types Of Loans Are There?

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