Keep Calm and Read These 3 Title Loan Tidbits

Written by Super User on . Posted in Learning Center

Imagine this—or maybe you don’t have to because you are living it: You are broke, you are thousands of dollars in debt, and you have limited or poor credit history, no cash for a down payment, and no assets to use as loan collateral. You literally have nowhere and no one to turn to. If any or all of these situations apply to you, then look no further than Utah title loans.

What Are Title Loans and How Do They Work?

Title loansare a great solution to those who are in challenging and desperate financial situations. Acquiring title loans are different from traditional bank loans because no down payments or credit and background history checks are needed to qualify for a title loan. The only thing title loans require is the title of a vehicle. This could be a car, motorcycle, off-road vehicle, or even a mobile home. The title to one of these vehicles is used as collateral until a title loan is paid off in full. Title loans are quick and easy to apply for, and some applicants are approved in as little as fifteen minutes!

So Where is the Catch?

Unfortunately, since a large percentage of title loan applicants have poor or limited credit history, therefore making them high-risk applicants, acquiring a title loan can be expensive. Some title loan companies charge up to 300% in interest! Title loan applicants who adhere to this type of loan often find themselves in even more debt than where they started.

Furthermore, some title loan companies also offer strict repayment terms and offer very little missed or late payment loan forgiveness. In the event a title loan borrower misses or is late on their payment, the title loan lender often sells the borrower’s vehicle, leaving the borrower in even more debt and no vehicle.

It’s Not All Bad!

There is hope for title loan borrowers when working with Affordable Title Loans. Affordable Title Loans is a trustworthy, reputable, and flexible organization that believes in working with their customers rather than trying to gain off them like many of their competitors. Affordable Title Loans also offers reasonable interest rates, some as low as 150%, which is half of what their competitors charge. Affordable Title Loans recognizes the apprehension around financial hardships, and how challenging the title loan industry can be. This is just one reason why title loan borrowers love working with Affordable Title Loans.

Wouldn’t it be nice to be able to solve your debt problems and confide in real solutions to help rid your financial worries? It IS nice, and it IS possible! In addition to providing hospitable and outstanding customer service, Affordable Title Loans is also expanding their title loan storesinto Utah and Idaho in effort to reach other potential customers in financial need. Affordable Title Loans believes in expanding their client base, thus expanding their business and efforts in helping individuals get out of debt for good. 

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