History of the Title Loan Industry Money Now Title Loans By Nikkie Gosney 1130 E. Main Street Mesa, Arizona 85203 Office: 480-835-6600 Fax: 480-835-6601 Email: email@example.com
There are times that some people need a loan but aren’t able to get approved by their bank. An emergency came up, and they need the cash right away. In business for over ten years, car title loans are fast and convenient. They allow the borrower to use his or her car title as collateral to get a loan. Since they don’t check the borrower’s credit history, car title loans have much higher interest rates than banks or other financial institutions. This type of loan is typically short-term and can be processed in as little as fifteen minutes. Filling out a short and simple application can get borrowers in and out within an hour, cash in hand. The value and condition of the car being used as collateral is important in determining the amount of money the Arizona title loan will be. All cars must have a clear title, and most loans will offer a borrower up to half of the car’s resale value. Some lenders in Arizona will offer a loan higher than what the car is worth according to the Kelley Blue Book value. Once the borrower gets the money they need, the loan agent holds his or her title until the loan is paid off. At that point, the agency is the lienholder so the borrower isn’t able to sell or trade in their car. Even without the title in hand, the borrower is still able to use his or her car just as they had before the loan. Money Now Title Loans | 1130 E. Main Street Mesa, Arizona 85203 | Office: (480) 835-6600 | Fax: (480) 835-6601| http://moneynowtitleloans.
Since they carry such high interest rates, itâ€™s crucial that the borrower only receive the amount they need. Although most title loans allow the balance to be rolled over to the next loan, this results in more debt and a harder time to pay it back. Whether the borrower is able to make his or her monthly payments, they must always pay back the accrued interest each month. It may not be the best option when someone needs quick cash, but if they have bad credit or no credit, it is most likely their only option. In Arizona, some Mesa car title loans allow the borrower to spread their payments over years. Itâ€™s important to know what to expect for anyone looking into a title loan. Republished From: http://moneynowtitleloans.com/arizona-car-title-loans/history-title-loan-industry/
Money Now Title Loans | 1130 E. Main Street Mesa, Arizona 85203 | Office: (480) 835-6600 | Fax: (480) 835-6601| http: