Things That Are Untrue About Car Title Loans

Paul

Paul

Total Posts: 183

Published Date: February 4, 2023

Untrue Things About Car Title Loans

There are a lot of people who think of getting a car title loan but, due to some misconceptions, end up getting traditional loans. The reason behind this can be believing in things that are untrue things about car title loans.

If you are someone who is having serious financial issues and want to get out of them instantly or within 24 hours, then it is a great idea to get car title loans without believing the myths. 

Title loans are known as secured loans which are far better than traditional loans. Also, with these loans, you have a great chance of getting the loan amount based on the value of your car and not on the basis of your credit history or credit score. This allows you to experience the best and simplest title loans. 

Untrue things about title loans
Untrue things about auto title loans

Untrue Things About Car Title Loans

  • The lender will withhold your car or vehicle 

This is untrue. This practice was common at a pawn shop where it was essential to submit your belongings to get the loan. However, modern title loan providers that are also known as lenders don’t keep your car or vehicle with themselves after offering the loan amount. Thus, you can keep driving your vehicle even after getting the loan amount. But ensure that you are in touch with a trustworthy lender who decides fair terms and conditions.

  • You will end up paying huge interest amounts 

Paying huge interest amounts can easily scare anyone. However, car title loans are known to have high APRs, but that doesn’t surprise all borrowers. The terms and conditions of the loans make everything clear related to the interest rate of the loan, repayment information, and much more, which you can acknowledge. Ultimately, your inability to repay the borrowed loan decides whether you will be falling into paying huge interest rates or not. Otherwise, it is essential to consider them short-term loans. 

  • It is impossible to get them without a good credit score 

One of the best benefits of getting title loans is that the lender doesn’t consider your bad credit score or credit history when offering the loan. So, if someone is stopping you from taking title loans, then you need to know that there is nothing true about this statement. You are still eligible to get car title loans if you don’t have a great credit history or credit score. 

  • Skipping one payment means losing your vehicle 

This is a highly dramatic statement that can stop you from taking an online title loan. The companies won’t get any borrowers or businesses if the rules are so rigid and aggressive. Thus, you shouldn’t believe this and have a proper conversation with your lender. It is essential to build confidence and have good relations with your lender. 

Conclusion About Untrue Things About Car Title Loans

Believing in things that are untrue will only scare you and won’t allow you to enjoy the benefits of getting a title loan. Ensure that before believing anything, you have a word with your lender.  

At TFC Title Loans we have been helping people since 1994, and we are here t help you to get into the right loan for you. We have the largest network of referral lenders, and we will select the right one for you.

We will get you the most money, with affordable monthly payments. Contact us today, we are here to help you.

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Disclosures

DISCLAIMER: As our policy to make sure you know what we do and what are our limitations, we offer you these disclaimers. We are NOT A LENDER and we do not make short term cash loans or credit decisions. We are a referral service and work only with licensed lenders/brokers.

We may act as the broker for the loan and may not be the direct lender. Loan proceeds are intended primarily for personal, family and household purposes. We do not offer or service student loans.

*Loan amounts by the lenders vary based on your vehicle and your ability to repay the loan.

*Since we do not lend money directly we cannot offer you a solicitation for a loan, except in the state of California. In all other serviced states we WILL match you with a lender based on the information you provide on this website. We will not charge you for this service and our service is not available in all states. States that are serviced by this Web Site may change from time to time and without notice. Personal Unsecured Loans and Auto Title Loans are not available in all states and all areas.

*Auto Title Loan companies typically do not have pre-payment penalties, but we cannot guarantee that every lender meets this standard. Small Business Loans typically do have pre-payment penalties and occasionally will use your car as collateral to secure the loan.

*All lenders are responsible for their own interest rates and payment terms. TFC Title Loans has no control over these rates or payments. Use of the work competitive or reasonable does not mean affordable and borrowers should use their own discretion when working directly with the lender.

*The amount of people who applied for a loan and we helped and those who received a loan is not the same. We cannot guarantee we will find a lender who will fund you.Just because you give us information on this web site, in no way do we guarantee you will be approved for a car title loan or any other type of loan. Not all lenders can provide loan amounts you may see on this web site because loan amounts are limited by state law and/or the lender. Some lenders may require you to use a GPS locator device on your car, active all the time. They may or may not pay for this or charge you for this. This is up to the lender and we have no control over this policy of the lender. Typically larger loans or higher risk loans use a GPS.

*In some circumstances faxing may be required. Use of your cell phone to receive updates is optional.

*Car Title Loans are expensive and you may have other ways to get funding that is less expensive. These types of loans are meant to provide you with short term financing to solve immediate cash needs and should not be considered a long term solution. Residents of some states may not be eligible for a loan. Rejections for loans are not disclosed to our firm and you may want to contact the lender directly.

*Car Title Loan lenders are usually licensed by the State in which you reside. You should consult directly with these regulatory agencies to make sure your lender is licensed and in compliance. These agencies are there to protect you and we advise making sure any lender you receive money from is fully licensed.

*Trading Financial Credit, LLC dba TFC Title Loans, Car Title Loans California, Dineromax. If you are using a screen reader and are having problems using this website, please give us a call at 1-844-242-3543 for immediate assistance.

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