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Car title loans are a special kind of loan that requires the title of a car or any other vehicle as collateral before being granted to an applicant. What a lender usually requires here is the title of a car and the loan would be given to the applicant. After the loan has been granted, the title of such car or any other vehicle for that matter would cease to belong to the borrower. Instead, it would be temporarily passed down to the lender pending the time the loan would be fully repaid.
Car title loans have helped a lot of people in California to solve emergency financial needs owing to their quick approval. In spite of the many positives that come with car title loans, one of the criticisms they still get is that they come with very high interest rates. Are you interested in discovering how true this is? Read on.
What are the interest rates of car title loans?
Sincerely, we are not in a position to tell you the exact interest rate anyone charges. However, you must know that most credit lenders are always involved in the practice of charging a very high interest rate for whatever reason. With us at TFC Title Loans, you can be rest assured that this is not the case. We charge fairly reasonable interest rates for our title loans and the records are there to speak for us.
What documents do I need to get a car title loan?
To get our car title loan at TFC Title Loans, there are some documents you must provide. These documents include:
Providing these documents would give you the chance to access our car title loans.
What is the maximum amount I can get?
The maximum amount you can get with our car title loan is $25,000. This is the standard amount that is permitted by the law for anyone to get through title loans.
Would I get my title back?
Yes. You would be getting your car title back once you have fully repaid the amount you got through the car title loan.
What are the benefits of car title loans?
The car title loans that we offer at TFC Title Loans come with a lot of amazing benefits. Some of them are listed below.
At TFC Title Loans, our interest rates are determined by factors like your creditworthiness, tenor of the loan, value of your vehicle, the amount you are requesting for, etc. However, you must know that in all of this, your welfare is considered paramount and our interest rates are fair enough to you regardless of your status.