subject: Car And Auto Title Loans Frequently Asked Questions [print this page] Q: What is an auto title loan?
A: An auto title loan, also known as a car title loan, is where a person borrows money against a clear car title. Title loan companies will only loan money to those who have a paid off car and a clear title with no liens or encumbrances.
Q: How long do I have to repay a car title loan?
A: Car title loans are short-term loans that typically last between 30 days and 24 months. Its best to pay off as soon as possible.
Q: Do I have to give up my car in order to get one?
A: You do not have to give up your car to secure the car title loan, just the cars title papers, or pink slip. You will be able to drive the car while you have the car title loan
Q: Where can I get a car title loan?
A: You can obtain a car title loan virtually anywhere, but you should check to make sure the company youve chose is a reputable one with a good track record. Make sure the terms of your loan are clearly explained. You do not have to go with a local company. There are many auto title loan companies who can provide loans online.
Q: How much money can a car title lender give me?
A: The lender will determine the value of your car as well as evaluate your ability to repay the loan and lend an appropriate amount. As these loans are expensive only borrow as much as you need.
Q: Are these loans expensive?
A Yes they are. So only borrow what you actually need and pay it off as quickly as possible. There are no prepayment penalties.
by: Laine McKenna
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