When to apply for the best title loans?
Although payday loans charge more interest rates than many car title loans, one must carefully weigh the consequences of taking title car loans. From the scenarios described above, taking a car loan is well worth considering. You should only seek a title loan after you have tried other low-interest credit sources without success. For instance, if you can borrow installment loans with APR of 36%, you are better off than securing a title loan of 108% APR.
Also, you can apply for easy title loans if you are sure you can repay entirely in one month. As we have seen above, it is not advisable to payback car title loans in monthly installments. This means borrowers should take only the sum they can afford to pay back in a lump sum within one month. Where paying back within one month is not possible, try as much as you can to pay back fully in three months.
How to apply for better title loans?
You can apply for car title loans completely online. There are many title loan providers online that you can choose from. Google search title loans to see many companies offering title loans for different vehicles. When applying for a title loan, the intending borrower should:
- Be sure he or she is the legal owner of the car.
- Must possess all necessary documents that serve as proof of ownership, including vehicle title.
- Ensure that the car, motorcycle, or any other vehicle is in a good state.
When you have decided on which title company to use, you can expect a fast title loan process. The procedures mainly require you to:
- Fill out the forms for car title loans entirely online. You'll be required to fill in your details, contact information, and vehicle details.
- Fill a second form that spells out the details of your title loan contract and additional information on you and your vehicle.
- Expect a call from the loan officers in a short while.
- Give all necessary documentation online so your loan can be approved.
- Get your loan approved and receive the money.