Car Title Loans- Smart Way to Get Financed

by : Steve c clark

Are you in need of urgent money? With car title you can easily avail good amount of money within short duration if you are a car owner. Car title loans are secured loans and lenders take charge of the title of your car and another set of keys until the money is paid back.

Car title loans are short term loans. You can avail car title loans for a period ranging from 2 weeks to a month at maximum. Being short term in nature car title loans don't become a burden on the borrower. But incase you are not able to pay the loan amount within specified time you can extend the repayment duration for another month but for this you will have to pay a bit higher interest rate. You can extend the repayment duration as many times you like but this should be availed because this way you have to pay the interest rate for longer duration.

There are certain prerequisites for availing car title loans. The loan will be offered only if there is no outstanding against you on the car. Also the borrower must have a clear title of the car. If you don't have clear title you can't avail car title loans.

Car title loans are basically a type of payday loans. The only difference here is you have to put your car as security against the loan amount. With car title loans you can avail an amount ranging from ?100-?1500. This amount should be repaid within a month at maximum. Failing to do so you may loose your property. Although car title loans are secured loans, they carry high interest rate. This is because car title loans are short term loans. Lenders have to make their profit in short period of time.

There are many benefits of car title loans. Car title loans are open to both good credit borrowers and bad credit borrowers. A person facing arrears, defaults, CCJ, IVA etc is eligible to avail car title loan. Car title loans are approved very fastly. The process of loan approval is very easy and hassle free because it is totally risk free for lenders. You can avail car title loans to meet all your urgent requirements like paying bills, paying debts, medical bills and so on. It takes only few hours to get approved. With extensive search you can find a lender offering car title loans at reasonable terms and conditions. Car title loans are easy and fast method to avail small amount of money to meet your urgent requirements.