Wednesday, May 29, 2013, AM | 1 Comment
You never know what lies there in future. In the very next hour you may face a crisis and need some fast cash. This may be either for a medical emergency or for your kid’s college education. What will you do if you don’t have a health policy or emergency fund? Will you approach the traditional lending organizations or the stores of payday cash advance?
While it’d take weeks for the loan to get approved if you approach a bank, the APR that a payday store would charge you would be just enough to push you visit another lender to meet the balances.
As long as fast cash is considered, car title loans are the best possible way out. And fast car title loans in Hayward, CA are just perfect for those folks who need to work out their emergency expenses and don’t have enough time in their hands.
If you have a car and the title in your name, you can just borrow enough funding within hours just by using the car as collateral. The advantages that car title loans offer to other traditional loans are huge.
Let us discus the benefits that you draw via taking out a car title loan.
Flexibility of payment
Usually, car title loans need to be repaid within a period of 30 days. However, the interesting thing is as a borrower you have the privilege to settle or extend the loan at the end of the timeline. These loans have become quite popular nowadays is because of their flexible nature. However, there is always a limit to the said extension and borrower who choose this option should remain prepared to carry the burden of extra interest rates.
Hassle free application
If you were thinking getting a payday loan might be speedy, you should try out a title loan as your opinion might change. If you fulfill the criteria the complete application procedure and allocation of cash should take hours. If you feel it’s inconvenient to visit the title loan stores, you can just get done the entire process online.
Specific companies have specific rules
There is no universal rule or set of guidelines by the government that oversee the car title industry. Each company has its own specific set of rules and guidelines. And it’s only for this reason that you should do a thorough market research before you apply with anyone.
Once the application procedure is done, company personnel will analyze the car to determine its market value. The loan amount will be determined based on the overall condition of your vehicle. You can obtain higher amount if you car is in immaculate condition.
If you are interested in procuring a car title loan, you should keep in mind that it’s you who is responsible for the outcome of the agreement. Though there are many benefits of car title loans, there are few risks associated with the lending procedures and you may end up losing your car if you fail to meet the payments on time.
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