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Saturday, July 4, 2015
What is a Car Title Loan
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Most loans involve running a credit check to ensure the applicant is creditworthy and able to meet their financial obligations on time. However, a title loan does not require this step, which often poses something of a stumbling block to those with a poor credit score. As long as you have a steady income to enable you to repay the loan and own your own vehicle outright, you should be eligible for an auto title loan. Taking out an auto title loan means giving up the title to your vehicle while you repay the money you have borrowed – but this doesn’t mean you can’t continue to drive your car. The lender treats the title to your vehicle as collateral and returns it after you have made your final repayment. So in terms of being able to travel from A to B, daily life won’t change when you take out an auto title loan.
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