Car Title Loans can be a great source of fast cash for unplanned expenses and emergencies.
What is a Title Loan?
A Title Loan is a type of secured loan using your vehicle as collateral. Title Loans are also known as Title Pawns, Pink Slip Loans, and Registration Loans. Unlike Payday Loans, car title loans vary from state to state and lender to lender. There are also companies operated online following their own rules.
The lender you choose to do business with will define the terms of your car title loan. There are several types of title loans including 30 day single payment loans and monthly term loans with fixed monthly payments. The lender you choose may offer only one type of loan.
Online Title Loans:
Title Loans completely online are starting to grow in popularity, however you do need to be careful who you do business with. Title Loan companies, including FTL Title Loans, are offering title loans completely online. There are both advantages and disadvantages to this process. Understanding how title loans work will be critical to getting a loan with terms you can meet. The consequences of defaulting on a car title loan can lead to losing your vehicle.