How Do Car Title Loans Work?
Many people have heard of car title loans but still find themselves asking, "How do car title loans work?" It’s simple: If you have a clear title to your vehicle, and it’s in good working condition, Speedy Cash may be able to lend you the money you need using your car as collateral.
While Speedy Cash offers payday loans some Customers prefer title loans because they have a longer repayment period and can lend more cash. To apply for a loan, you’ll need a vehicle that’s in working condition and a clear title – meaning, you aren’t currently making payments on the vehicle. The title loan names Speedy Cash as the lien holder, but you continue using your car as you normally would. Only as a last resort does Speedy Cash repossess a car – if you fall behind on your payments, we’ll work with you to come up with a repayment plan.
A title loan can be useful when you need fast cash and have bad credit or no credit, because it’s based on the value of your car and your financial resources, not solely on your credit history.
Still Have Title Loan Questions?
Money and your car: Those are two serious things that we know you can’t live without, so we understand if you have more questions about how title loans work. Keep reading to get answers to your title loan questions!
I need a title loan but I also need the use of my car.
At Speedy Cash, you keep your car while you repay the loan. You only risk losing possession of your car if you fail to repay your loan.
What are the minimum payments for a car title loan?
The minimum payments for a car title loan will vary depending on your total loan amount. Minimum and maximum loan amounts also vary by state. The best way to find out what your minimum payment would be for a car title loan is to visit a local Speedy Cash and talk to one of our friendly Customer Service representatives.
Get Cash Now!
Speedy Cash offers many ways to help people get the cash they need, so if you’re not sure which option is right for you, come talk to us. We’ll help you apply for a loan today!