Car Title Loans - Fast Easy Cash

By: Scarlette Riley

Introduction

Sometimes it may happen that we find ourselves in some urgent need of money and can't really wait for it. To avail easy and fast cash, car title loans may prove to be a viable option for you.

As the very name suggests, car title loans are granted against the title of your car. But, when you need some cash urgently to fuel your unseen and suddenly emerged financial requirements, you don't mind putting your car as collateral against the loan.

are strictly secured types of loans and come against the car you own as the security. However, the car should be totally in the name of the borrower who is asking for the loan. And also it should be free from any out standings against it. The mortgaging of the car as security by the borrower helps to assure the moneylender and thus an easy grant of the loan.

Defrayal terms and conditions

The loan is generally granted for a period of a fortnight to a month. By the end of the tenure you have to pay back the loan to the moneylender. However, if you fail to pay back the loan amount at the end of the scheduled time, you may apply for extending the loan term. This may help you get another month for the reimbursement. However you need to pay the interest rate for the extended period of time as well. Some, financial organizations may extend your loan term up to 8 consecutive times.

Interest rates

As these loans are processed very fast and on a very short notice of the borrower, these loans carry comparatively higher interest rates. The interest rates may vary from ? 10 to ? 30 per ? 100. But, since you are going to pay the loan back very soon, the interest doesn't pile up to be much.

You may easily apply for the loan online and peruse the conditions. With car title loans you can easily fetch a loan amount ranging from ? 100 to ? 500. So, it is just good enough to pay your small financial emergencies.

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