Title loans are sometimes the only option you have to get money when you need it. But what you may not be aware of is that you are essentially taking out another loan against your car, the same as if you were buying it for the first time. This is because you are taking advantage of the asset value of your car in order to generate cash. Where you potentially run into trouble is when the lender charges an exorbitant rate of interest that makes it difficult for you to redeem your title. Xpress Title Loans changes all of that with their title loan benefits that help you instead of hurt you.
The difference from other title loan lenders is clear. Title loan benefits are designed with you, the borrower, in mind. In fact, the more money you borrow against your car, the lower the interest rate goes. There are no 30-day loans here, either. You can get loan terms that are favorable to your budget and won’t go beyond your ability to repay the money. It’s possible to borrow as little as $1,000 all the way up to $25,000 if your car has the asset value.
All it takes to get a loan is to fill out the application and provide the required information. A response is given quickly and lets you know the maximum amount you can take out against your vehicle. Once you have decided on how much you need, you confirm the loan. The lender then tells you where you receive your cash. Upon receipt of the money, your loan begins and you start repayment on a predetermined date.
No credit check is ever performed against you; your car title is your credit. A job is not necessarily a requirement to get a loan, but you do need to show some kind of proof that you have income. Income can be disability or self-employment income. You never have to worry about being able to get around to your job or to run your errands with a title loan. Even though your title is being held as collateral for the loan, you keep driving it unless you fall behind on your payments. There is also the option to pay your loan off early, and there is never a fee for doing so. Follow Us On Facebook