02 Feb How Car Title Loans Work: Short-Term Borrowing, at a Cost
Get Cash for Your Title
Car title loans offer an option for quick approval on a short-term loan, but they're generally very costly. To get an auto title loan, you need to pledge your vehicle as collateral by handing over the title to the lender until the loan is completely repaid.
If you have no other options-for example, you need funds right away for emergency medical treatment-a title loan could make sense. But in most cases, these loans are more expensive than they're worth, and you risk losing your car when you use one.
How Car payday loan debt lawyer Greenfield Title Loans Work
To borrow against your vehicle, you need to have enough equity in your car to fund a loan. In many cases, you need to have paid off any other loans used to purchase the vehicle, but some lenders allow you to borrow if you're still paying off a standard auto purchase loan.
