Investigating Auto Title Loans

If you find yourself in a desperate situation that needs access to immediate funds in order to solve it then you can look for lender who will give you an auto title loan on your car. An auto title loan is a low-risk loan that is advanced to people who hold the title to their vehicles. The vehicle is not held as collateral so you will still enjoy the benefits of owning a car while at the same time get access to the much-needed money. There are no credit checks when you apply for this loan. There are some lenders who will ask for a spare set of keys to your car but this is the exception rather than the norm.

An auto title loan is a short-term loan that the lender will extend to your for a period of tow weeks to one month. Should you be unable to raise the full amount to repay the loan you may rollover the balance for another 30 days. This will however attract a punitively high interest rate. This is a measure by the lender to discourage borrowers from rolling over the loan.

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Finding cheap car insurance for young drivers can be difficult. Young drivers are sometimes viewed to be reckless and high-risk drivers by the insurance carriers. The reason that car insurance for young drivers is expensive is that they form the largest group of people on the rod which increases their chance of being involved in a collision or other incident. Young drivers are also known to throw caution to the wind and drive recklessly. About 25 percent of all road accidents involve young drivers and they are the most likely to drive under alcohol or drug influence. They also like to show off to their friends and overload their vehicles as they go for joy rides or cross-country adventures.

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