What is a Title Loan?

A title loan is a loan of money secured by a certificate of title to a motor vehicle. The title loan lender keeps the certificate in case the loan is not paid.

A title loan is a way to borrow money on your automobile title. When you get a title loan you receive money on your automobile. The process is fast and easy. If you have a clear title in your name, you are eligible for a title loan.

If you own your car, title loans can be a great short-term loan solution to your borrowing needs. Borrowers should be aware that Title loans, like any other type of short-term loan, attract a high interest rate.

Once a decision has been made as to how much you may borrow, the title loan lender will hold the vehicle title document while you continue to drive the car. After the principal and the interest are paid your title document will be returned.

The title loan lender must give each borrower, at the time the loan is made, a written title loan agreement.

Borrowers should read the contract very carefully and make sure they understand what it means, before they sign it.

If you fail to pay the loan, the title loan lender may repossess your vehicle. However, the title loan lender must first give you the opportunity to make the vehicle available at a date, time, and place of mutual convenience. You have the right to remove your belongings from the vehicle at no additional cost.

If your vehicle is sold, you are entitled to any proceeds of the sale in excess of the amount you owe and the lender's reasonable expenses for repossession and sale.

All title loan lenders must be licensed in order to engage in the title loan lending business. Each title loan lender undergoes a criminal background check to ensure that the lender is qualified to issue a title loan.

You may freely reprint this article provided the following author's biography remains intact, including the live URL link:

About The Author

John Mussi is the founder of Direct Online Loans who help homeowners find the best available loans via the http://www.directonlineloans.co.uk website.

---

Guide to Homeowner Loans

Here is a useful guide to Homeowner Loans. A Homeowner... Read More

A Brief Look at the Origins of Lending

When trying to discover the origins of lending you might... Read More

Cant Wait For Payday? Try Check Advance

Check advance can come in really handy when you're waiting... Read More

Meeting the Balance of Agricultural Financing

Agriculture loan guaranteesFor better understanding of the agricultural loan guarantee... Read More

Let Us Uncover The Mystery Of Secured Loans

Okay, so one day you wake up and realize that... Read More

A Guide to Getting a Debt Consolidation Loan UK

If you're getting in over your head with credit, you... Read More

What are Personal Loans?

As the term implies, Personal loans are simply loans for... Read More

Guide to Secured Personal Loans

Here is a useful guide to secured personal loans. A... Read More

No Credit Car Loans - Even With No Credit History, You Can Still Get Approved

Even it you have no credit history, you can still... Read More

Best Car Loan Rates - Tips To Getting a Low Auto Loan Rate Online

Online car loan shopping practically guarantees that you are getting... Read More

6 Key Points to Evaluate Online Lenders

The internet is teeming with lenders who are vying for... Read More

Hidden Bank Loan Charges That Would Make a Pick-Pocket Envious

There can be more to a bank business loan than... Read More

Instant Cash Advance Loans - Take Advantage of The Convenience of The Payday Loans Available Online

Cash advance loans not only provide you with instant cash,... Read More

Lions and Loans: Why Finance Should Always be Personal

Different types of loans are available for almost every aspect... Read More

Bad Credit Secured Personal Loans are Like Desserts-Last Course/Best Recourse for Impaired Credit

Plato said, 'We can easily forgive a child who is... Read More

What To Consider Before Applying For A Loan

Here are some useful tips on what to consider before... Read More

What is a Bridging Loan?

A bridging loan as the name implies is a loan... Read More

What is a Tenant Loan?

Ever wondered what is a Tenant Loan? A tenant loan... Read More

Getting a Debt Consolidation Loan

Should you find yourself getting in over your head with... Read More

Short Term Solutions to Cash Flow Problems

If you're in a crunch for money, either because of... Read More

Christmas Loans ? A Gift on the Occasion of Christmas

It is still a few weeks to Christmas and every... Read More

What is the Difference Between an Unsecured Personal Loan and a Secured Personal Loan?

This is a common question that many consumers have. Many... Read More

Cash Advance Payday Loans: Yes The Rates Are Higher!

Typically Cash Advance Payday Loans have no credit checks, and... Read More

How to Find Cheap Loans UK

For the individual in need of cheap loans UK, it... Read More

How to Find Bad Credit Loans UK

Bad credit loans UK can sometimes prove quite difficult to... Read More

Devising Newer Ways of Repayment

How good would it have been had there been no... Read More

Free Money Saving Auto and Home Loan Tips

Free Auto Loan TipsThe following tips should help increase your... Read More

UK Student Loans Explained

Student loans seem to be the only feasible way out... Read More

PayDay & Cash Advance Loans Online ? How Do Online Payday Loans Work?

How online payday loans or cash advance loans work? Online... Read More

A Borrowers Guide to Bad Credit Loans UK

If you find yourself in a situation where you need... Read More

If You?re Looking To Borrow Larger Sums of Cash a Home Equity Loan Could Prove Ideal

There are a number of different loan products available today,... Read More

Benefits of a Secured Loan

The secured loan is favoured by many UK residents seeking... Read More

SBA Loan: Qualifying and Applying

According to federal government research, small businesses provide about 75%... Read More