A Bit About Online Car Title Loans

One of the fastest ways to get a loan today, with or without good credit, is to take advantage of online car title loans. These loans can be obtained in less than 24 hours and can be for up to the value of your car. The great thing about them is that, unlike payday loans these loans do not charge you more than the APR for interest and you can have up to 7 years to repay the loan. Payday loans on the other hand charge as much as 10% above the APR and must be fully paid back on your next payday. They are also only able to lend you a maximum of $1500 while online car title loans will loan you up to $50,000.

To qualify for a title loan you must own a car that has no liens on it and is less than 10 years old in good running condition. You must of course be at least 18 and you must have a bank account and some variable income. There is no credit check however and even with the worst credit you can qualify for one of these loans. The maximum amount of the loan will be based on the Kelly┬┤s Blue Book value of the car.

Obtaining the loan is easy. You will need to go online and find the lender that offers you the best deal with respect to interest and repayment. You will be required to fill out a one page form online and submit it. Once this is completed your loan should be approved within a few hours. If you have bad credit these loans are excellent for helping you consolidate your debts and improving your score. Each time you make a payment you will receive points on your credit score. You will also get points for paying off your other creditors and keeping those lines of credit open. The more lines of credit and less creditors that you have the higher your score will be.


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