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Loans are made by TFC Title Loans

HOW TITLE LOANS WORK

The car title loans are not as complicated as the way people take it to be. Most people just assumed without doing even basic research on the topic involved; Most folks don’t know much about how a car title loan works or they entirely don’t know at all. Now, here is how it car title loan works: With a pink slip loan, you are being given an amount of money as a cash equivalent of your car with your vehicle pink slip or title as collateral. Basically, in as much as you have a vehicle with you, with a clear title in your name, you can access a pink slip cash advance. If your car only has equity, there’s no problem; A car title loan works in the same way as an auto equity loan. The amount of loan you can access is dependent on the worth of your vehicle, or how much equity you have in your car. The larger the car’s equity or value, the more cash you are eligible for. With our car title loan, it works uniquely, but better. For example, an Auto loan has a short-term payback period normally, but we give you a payment period of 24-36 months, sometimes longer than what our competitors can offer. Just like all another type of loans, there is an interest involved. You have to pay back whatever you have borrowed with interest. Though you don’t give up your vehicle to get a car title loan, you could lose your vehicle through repossession if you err in making payments as agreed. When compared with other conventional banks and credit unions, a car title loan from a car title loan lender is created and designed to work in a different and much better way with easier procedures and processes.