Car Title Loans – What are They?
There are all kinds of financial crisis that can hit us in the course of a lifetime. When one is already under pressure, perhaps just making ends meet, and a sudden crisis descends on you, you sometimes just don’t know what to do next. If you expect the crisis to be one of reasonably short duration, you may consider a car title loan.
A car title loan is a loan that is given after mortgaging your vehicle to the lender. The vehicle should be fully owned by you and if you have bought it against some other loan, then it should be either completely paid or almost paid. Car title loans are free from credit check and therefore a person with bad credit status can also avail the advantages of the title loan.
How Much Can You Borrow?
The loan amount depends upon the value of the vehicle. A borrower can easily attain a loan amount up to $25,000 with a car title loan. The interest values for these loans are very less as the loans is highly secured with the car title. The car title is taken as collateral by the lender and returns it to the owner when he completely repays the loan amount.
What are the Advantages?
The fast availability is one advantage of car title loans. With this loan, you can get same day service. Since, the formality of valuation of security is absent in this loan option; hence, you can avail this loan same day. In addition, nowadays, these loans are available online, by opting for which, you can apply for these loans easily and hassle freely.
If you are looking for a reputable company that offers car title loans with easy repayment options and flexible terms, Pit Stop Loans is the right choice. We have helped thousands of people in Canada since 2004. If you need financial assistance, just call us at our toll-free number 1-800-514-9399 or you can also fill out the easy application form at our “Apply Now” page.