A car title loan is an installment loan that helps car owners borrow money by using their car as collateral for the loan duration. The best part is that the car owner can still use their car as long as they are making monthly payments on time.
When someone needs a loan, they usually go to the banks. Banks approve the loan application of those who have a good credit history, but those who have bad credit history do not get the loan from the banks. It is nearly impossible to get a loan from banks if a person has bad credit or no credit. There are many other loans that a person can apply for. A vehicle or a car title loan is one of those loans.
Once you apply for a car title loan, we will preapprove you a loan amount that will be between 50% to 70% of the car’s wholesale value. We will place a lien on the car for the duration of the loan, and once the loan is fully paid, we will remove the lien.
If you agree to the terms and the preapproved amount, you will be asked to submit the required documents and process the application.
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