How To Get Car Title Loans With Bad Credit Score
Car title loans are exactly what they sound like--a loan that's secured by your car. And with many providers, you can get up to $25,000 in as little as 30 minutes. Plus, unlike other types of loans (such as payday loans), you won't need to make payments for months or even years on end; with car title loans, the loan will come due when you sell the car or refinance it. You should be aware that these loans can be expensive--the APR (annual percentage rate) on a title loan can be as high as 400%--but if you have bad credit and can't get an unsecured loan, it's one of your few options. Payday loans are often more affordable than title loans, but they carry smaller amounts of money and must be repaid in two weeks; plus, your interest rate is usually higher. In the eyes of many people, car title loan lenders are no better. Before you apply for a title loan, examine your options and compare the costs and terms to those of both payday loans and auto equity loans. W...