How does a Title Loan Work?

Answer

In order to get a title loan you need be 18 or over and have a clear title to your car, truck or van and the wholesale value must be at least $5,000. The approval process takes about an hour. If the above is true, all you need to do is apply online and when you go to pick up the cash from one of the locations, you hand over your title and an extra set of keys. You are able to still drive your car and once you repay the borrowed amount you will get the title and keys back.
1 Additional Answer
A title loan works a lot like any secured loan. They give you money for the title of your car. If you do not pay the loan or default on it then they come and get your car.
Q&A Related to "How does a Title Loan Work?"
When someone is desperate need of cash quickly, they can use their title to their car for a loan. The loan amount will depend on how old the car is, and in what kind of condition.
http://answers.ask.com/Business/Finance/how_do_tit...
Auto title loans have been banned in many states due to their high price lending requirements. Most auto title loans lend at a rate of 300 percent of Annual Percentage Rates and higher
http://www.ehow.com/about_5244629_auto-title-loan_...
When you purchase a car you have to pay: Tax: Sales Tax, Licensing. Title: You have to pay the state to register the vechicle (and be given the title to the car) Loan: the loan for
http://wiki.answers.com/Q/What_is_tax_title_and_lo...
1 Make payments on the car title loan in a timely manner. Always remit payments before they are due. If possible, hasten the repayment process by making extra payments in advance.
http://www.wikihow.com/Get-a-Title-Back-From-a-Tit...
Explore this Topic
Title loans work by having the loan against the title. If you buy a car and have a loan the lenders name and your name are on the title until it is paid off. ...
When someone is desperate need of cash quickly, they can use their title to their car for a loan. The loan amount will depend on how old the car is, and in what ...
When someone is desperate need of cash quickly, they can use their title to their car for a loan. The loan amount will depend on how old the car is, and in what ...
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