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.

---

A Little Lesson on Loans

The opportunity to spend money is everywhere. There is no... Read More

Finding the Bad Credit Personal Loans that You Need

It can seem impossible at times to get bad credit... Read More

About Personal Loans

What are personal loans? They are unsecured loans that a... Read More

Personal Loan 101- What You Absolutely Need to Know

Daughter's marriage or her studies? Son's Ambition? Want a House... Read More

Debt Consolidation Tips

Here are some useful Debt Consolidation tips. Debt consolidation is... Read More

Payday Loans Available Even ToThose With Bad Credit

Bad credit payday loans may seem like an oxymoron phrase,... Read More

Why Choose a Bad Credit Personal Loan?

Listed below are some of the reasons for choosing a... Read More

Instant Car Loan - Get an Approval Online Quick

Your car loan is now less than an hour away... Read More

Small Business Loans Can Help You Write Your Success Story

Scene one: you are sitting on your office desk surrounded... Read More

Military Payday Loans

What is a payday loan? This is a small short-term... Read More

A Beginners Guide to Online Loans

If you're just beginning to look at online loans, you... Read More

What is Bad Credit UK?

Bad credit UK is a term that many people don't... Read More

Finance Your Home Business: Six Ways Under Your Nose

There are lots of ways to get additional capital to... Read More

Payday Loan and Cash Advance Lenders Online - How To Compare Them

When searching for a payday loan company online to get... Read More

How To Reduce Your Payments

Are you paying out too much every month for your... Read More

The Average Profile of Customers Opting for a Payday Loan Cash Advance

Payday loans are loans of a small amount, taken for... Read More

Business Credit Scoring: Is It a Killer Application or Application Killer?

In his 1968 seminal novel, 2001: A Space Odyssey, Arthur... Read More

Useful Tips on Personal Loans

Here are some useful tips on Personal loans. You can... Read More

Cash Advance Loans Online - A Great Way to Make it Until Your Next Pay Day

A payday advance is a loan obtained to cover unexpected... Read More

No Credit Check Personal Loans - If You Need Fast Cash, A PayDay Loan Online Is a Very Quick Process

Online payday loans can get you fast cash through a... Read More

Want a Cheaper Finance for Your Vehicle? Try Secured Automobile Loans

The usual modus operandi in most automobile purchases is as... Read More

What is a Secured Loan?

A secured loan is simply a loan that uses your... Read More

Getting the Best Auto Loan Rates

Getting a good auto loan rate is not luck, but... Read More

Short Term Payday Loans - Use One Online To Get Cash Quick

Short term payday loans are now available online. After filling... Read More

Online Loans: The Easy Way to Apply

The internet is a great place to find the right... Read More

Getting That Car Loan: Simple Interest Is The Best

So here's the situation: you are buying a car but... Read More

Do You Qualify for a Loan?

Like most people, you will probably wait until submitting a... Read More

Guide to Personal Secured Loans

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

Is Getting A Personal Loan With Bad Credit Impossible? Think Again

A bad credit history is like having contracted an infectious... 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

SBA Loan: Qualifying and Applying

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

Loans For Unemployed - Employing Home For A Solution To Unemployment

If the statistics for the quarter ended April 2005 are... Read More