I think all of us at one time or another have found ourselves a little strapped for cash. For whatever reason, it can be an unexpected expense like a car needing tires or something in your household needing repairs. With today's economic situation, we are all stretched a bit thin.
The irony is this. People, who need a financial loan the most, can't get title car loans at all today. If you have had bad credit or no credit, most banks don't want to talk to you. With lending so tight today, how is someone with credit problems going to get the loan they need? There is one avenue for you to get the money you need. If you own a car or SUV or any type of vehicle, you can probably get what is known as a car title loan.
Car title loans are loans in which you secure a loan with the value of your car. Lets say you have a car worth $10,000. Most title loan lenders with let you borrow up to half of the value of your car. Are you making payments on your car now? Even if you are, there are some lenders that will give you a car title loan depending on what you still owe on the car.
How can you get a title loan even if you have bad credit or a bankruptcy? The reason you can get a loan is because the lender has your car as collateral. This is known as a secured loan. Car title loans for people with bad credit will generally have interest rate much cheaper than a personal loan or a payday loan. Here is the good part. Even though you have given your car as collateral for the loan, you still have use of your car! That's right; you still drive and use your car as you've had in the past.
Car title loans are designed to help those who need a little cash until their next check or that bonus coming to them. These are quick short-term loans that lenders often don't even do a credit check. So if you think banks and lenders won't give you a loan due to a bad credit history or problems with credit cards, you can use a car title loan to get the money you want now.www.titlecarloans.net
Friday, December 24, 2010
Bad Credit? Use Car Title Loans to Get Your Money
I think all of us at one time or another have found ourselves a little strapped for cash. For whatever reason, it can be an unexpected expense like a car needing tires or something in your household needing repairs. With today's economic situation, we are all stretched a bit thin.
The irony is this. People, who need a financial loan the most, can't get title car loans at all today. If you have had bad credit or no credit, most banks don't want to talk to you. With lending so tight today, how is someone with credit problems going to get the loan they need? There is one avenue for you to get the money you need. If you own a car or SUV or any type of vehicle, you can probably get what is known as a car title loan.
Car title loans are loans in which you secure a loan with the value of your car. Lets say you have a car worth $10,000. Most title loan lenders with let you borrow up to half of the value of your car. Are you making payments on your car now? Even if you are, there are some lenders that will give you a car title loan depending on what you still owe on the car.
How can you get a title loan even if you have bad credit or a bankruptcy? The reason you can get a loan is because the lender has your car as collateral. This is known as a secured loan. Car title loans for people with bad credit will generally have interest rate much cheaper than a personal loan or a payday loan. Here is the good part. Even though you have given your car as collateral for the loan, you still have use of your car! That's right; you still drive and use your car as you've had in the past.
Car title loans are designed to help those who need a little cash until their next check or that bonus coming to them. These are quick short-term loans that lenders often don't even do a credit check. So if you think banks and lenders won't give you a loan due to a bad credit history or problems with credit cards, you can use a car title loan to get the money you want now.www.titlecarloans.net
The irony is this. People, who need a financial loan the most, can't get title car loans at all today. If you have had bad credit or no credit, most banks don't want to talk to you. With lending so tight today, how is someone with credit problems going to get the loan they need? There is one avenue for you to get the money you need. If you own a car or SUV or any type of vehicle, you can probably get what is known as a car title loan.
Car title loans are loans in which you secure a loan with the value of your car. Lets say you have a car worth $10,000. Most title loan lenders with let you borrow up to half of the value of your car. Are you making payments on your car now? Even if you are, there are some lenders that will give you a car title loan depending on what you still owe on the car.
How can you get a title loan even if you have bad credit or a bankruptcy? The reason you can get a loan is because the lender has your car as collateral. This is known as a secured loan. Car title loans for people with bad credit will generally have interest rate much cheaper than a personal loan or a payday loan. Here is the good part. Even though you have given your car as collateral for the loan, you still have use of your car! That's right; you still drive and use your car as you've had in the past.
Car title loans are designed to help those who need a little cash until their next check or that bonus coming to them. These are quick short-term loans that lenders often don't even do a credit check. So if you think banks and lenders won't give you a loan due to a bad credit history or problems with credit cards, you can use a car title loan to get the money you want now.www.titlecarloans.net
Wednesday, December 15, 2010
Auto Title Loans - Get Money on Your Car
When you are in financial trouble and you need money fast, you may find yourself in a situation where you need to take out a loan. But an unsecured personal loan comes with a higher interest rate, and it might not get you as much money as you need. This is true even if you have good credit, and if you have bad credit it can be a nightmare. It is also very risky business to borrow against your home, as you could end up being foreclosed and forced to move out of your home is you fall behind. Thankfully, there is the option of auto title loans.
These allow you to borrow against your car, allowing you to get money when you need it. Depending on the value of your vehicle, you will often be able to take out a larger loan than if you attempted to take out a title car loans and in almost every case you will pay a lower interest rate. In addition to this, while it is certainly not an enjoyable experience to have your car repossessed, this is a much better worst case scenario than losing your home.
How much money can you borrow against your car? This will depend on several factors, but the most important ones to consider are the value of the car itself, and the policy of the lender. Before looking for a lender, you should find out what the wholesale value of your car is. A good auto lender will be willing to offer you a loan between twenty and fifty percent of the value of your car. It is a good idea to shop around for the best deal that you can find. The reason that an auto lender can not offer you loan on car title equal to the full value of the car is that the finance business has to factor in the costs of repossessing the vehicle and selling off the car. These are very real factors to consider, as cars are being repossessed all of the time.
An auto title loan is certainly not something to be taken lightly, but if you are in a financial crunch it is often the best option available. It can be an excellent way to avoid bankruptcy and to protect your credit score as long as everything is paid back on time. It is much lower risk than borrowing against the house and offers better interest rates than other options. www.titlecarloans.net
These allow you to borrow against your car, allowing you to get money when you need it. Depending on the value of your vehicle, you will often be able to take out a larger loan than if you attempted to take out a title car loans and in almost every case you will pay a lower interest rate. In addition to this, while it is certainly not an enjoyable experience to have your car repossessed, this is a much better worst case scenario than losing your home.
How much money can you borrow against your car? This will depend on several factors, but the most important ones to consider are the value of the car itself, and the policy of the lender. Before looking for a lender, you should find out what the wholesale value of your car is. A good auto lender will be willing to offer you a loan between twenty and fifty percent of the value of your car. It is a good idea to shop around for the best deal that you can find. The reason that an auto lender can not offer you loan on car title equal to the full value of the car is that the finance business has to factor in the costs of repossessing the vehicle and selling off the car. These are very real factors to consider, as cars are being repossessed all of the time.
An auto title loan is certainly not something to be taken lightly, but if you are in a financial crunch it is often the best option available. It can be an excellent way to avoid bankruptcy and to protect your credit score as long as everything is paid back on time. It is much lower risk than borrowing against the house and offers better interest rates than other options. www.titlecarloans.net
Monday, December 6, 2010
Auto Title Loans - How Much Can I Borrow Against My Car Title?
The total amount of money that you can borrow for an auto title loan will depend on how valuable the lender considers your car to be. It is a good idea to personally do some research to find out how valuable your car is. If the lender says the value of the car is roughly the same, than you know you are dealing with an honest lender. In order to take out an auto title loan, you will need to have paid off most or your entire original auto loan.
In some cases, a title car loans lender will ask for financial information such as your available income. They may check your credit score, although bad credit does not necessarily mean you will be refused. Instead, a bad credit score is usually a reason for the lender to charge you a higher interest rate.
In order to find out how much your car is worth, you can use the Kelly Blue Book (KBB) valuation system in order to determine the value of your used vehicle. Most lending companies will offer you a loan with a similar value. Another option is to find out what the current wholesale value of your vehicle is. A fair lender will offer you a value between twenty and fifty percent of the wholesale value.
The reason that a lending company will not give you a hundred percent of the wholesale value is that lenders need to take into account the cost of repossessing and selling the vehicle. If you are incapable of paying back the fifty percent you borrow, or you really need the full value of the vehicle, it is a better idea to try to simply sell the vehicle instead.
Every state has a different set of laws regarding how car title loans for people with bad credit can be set up. In some cases, smaller loans may have a fixed income rate. You may also find that you are charged a higher interest rate if you take out a larger loan.
Getting an auto title loan is often a better option than an unsecured personal loan. If you are in a financial crunch and don't want to borrow against your home, borrowing against your car will usually offer you better interest rates and larger volumes of cash than unsecured personal loans. This is true even if you have a good credit score. So long as you know you can pay back the loan, you will not lose your car.www.titlecarloans.net
In some cases, a title car loans lender will ask for financial information such as your available income. They may check your credit score, although bad credit does not necessarily mean you will be refused. Instead, a bad credit score is usually a reason for the lender to charge you a higher interest rate.
In order to find out how much your car is worth, you can use the Kelly Blue Book (KBB) valuation system in order to determine the value of your used vehicle. Most lending companies will offer you a loan with a similar value. Another option is to find out what the current wholesale value of your vehicle is. A fair lender will offer you a value between twenty and fifty percent of the wholesale value.
The reason that a lending company will not give you a hundred percent of the wholesale value is that lenders need to take into account the cost of repossessing and selling the vehicle. If you are incapable of paying back the fifty percent you borrow, or you really need the full value of the vehicle, it is a better idea to try to simply sell the vehicle instead.
Every state has a different set of laws regarding how car title loans for people with bad credit can be set up. In some cases, smaller loans may have a fixed income rate. You may also find that you are charged a higher interest rate if you take out a larger loan.
Getting an auto title loan is often a better option than an unsecured personal loan. If you are in a financial crunch and don't want to borrow against your home, borrowing against your car will usually offer you better interest rates and larger volumes of cash than unsecured personal loans. This is true even if you have a good credit score. So long as you know you can pay back the loan, you will not lose your car.www.titlecarloans.net
Subscribe to:
Posts (Atom)