Whenever you are making a big financial decision, it is of the utmost importance to know every single detail before you decide to do anything. Financial matters are a huge deal since one wrong move can cause a lot of problems down the road so it’s necessary to do a lot of research beforehand. Before applying for a title loan, always try to ask the right questions before picking a lender to work with. In this article, we, TFC Title Loans, will be answering the question ‘ how long are title loans for ’ so you can know exactly how long you would have to pay down your loan if you were to pick us as your title loan lender. We have been working hard lately to provide our customers with a wealth of resources that answer all of their questions regarding our company and title loans in general. We have been doing this because we are passionate about adequate consumer education and strong supporters of lender transparency in the alternative lending industry.
We have been in the lending industry since 1994, making us the oldest title loan lender in the state of California. Those 25 years of experience has given us a leg up in the arena of customer service which we emphasize as our top priority. We are constantly focused on keeping you, the customer, happy since if you are satisfied then we have officially done our job. If you would like to apply for a title loan with TFC Title Loans, then fill out our online application today. But if you need to learn a little bit more about us and title loans in general, especially how long the payback period is, then continue reading this informational article.
Many title loan lenders have incredibly short loan terms that require the borrower to pay off the loan in 30 to 90 days. Shorter term loans such as this are extremely stressful for the customer as the payments are so large that they can sometimes be impossible to pay off. These loans also tend to have far higher interest rates than longer term loans since there isn’t an annual rate but rather only a monthly rate. Paying off a loan that quickly is an unrealistic expectation for customers and we are well-aware of that here at TFC Title Loans.
At TFC Title Loans, we customize each and every one of our loans so that they work well for each customer’s unique situation and circumstance. We want the payments to be affordable and to provide you with reasonable annual interest rates. It is for these reasons, we customize your loan terms and payment timelines in between 24 to 36 months. This means many of our customers have three years to pay back the loan at lower monthly payments instead of three months made up of astronomical payments. We know our customers appreciate this big benefit we offer.
All of our loan payments at TFC Title Loans are completely amortized which means that every time you make a payment, you are paying down both the loan and the interest at the same time. This prevents any form of balloon payments for our customers. We also charge absolutely no prepayment penalties whatsoever. This means that, even though you have a full three years to pay off the loan, you can pay it off as soon as you would like to avoid the accruement of interest and save a lot of money. If you run into some financial luck, then we don’t want to stand in your way of paying off your loan early and saving interest costs in the process.
If, after reading this article, you have any questions remaining regarding how long you have to pay off title loans, then simply give us a call at our toll-free number located at the top of the page. We have friendly customer service agents standing by the phone right now, who would be delighted to answer your questions. But if you have already determined that you would like to apply for a title loan with TFC then don’t wait another minute and apply using our online application. We will call you after we receive your information with a free quote.