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03 Jun 2019   /   0 comments

Are Title Loans Worth It?


pexels-photo-259165A lot of consumers ask the question ‘ are title loans worth it?’

Here, at TFC Title Loans, we want to help you understand every piece of the process so you can make the most informed decision possible.

Below, we will outline for you why title loans might be necessary for you, the risks that make people nervous about title loans, and the benefits of title loans with TFC Title Loans.


Is It Necessary for You?

If you have a less-than-perfect credit score, then that might be a reason that a title loan is necessary for getting the emergency funding that you need. Unlike most traditional banking institutions, Car Title Loans do not require that you have a spotless credit score to apply or qualify.

We base the amount and approval of the loan on the current street value of your car and your ability to repay the loan in monthly installments.

We are the oldest title loan lender in California and we have lasted so long because we make our customers our number one priority. We believe that there is more to a person than just a number and we are passionate about helping those in need who have been unable to find help elsewhere.


The Risks of Title Loans

  • High-Interest Rates

Since there is a higher risk for the lender when giving out a loan to a borrower with a less-than-perfect credit score, Car Title Loans tend to have higher interest rates to make up for the increased risk. This means you could end up paying more back than you would with a typical bank loan.

  • Possible Repossession

Car Title Loans use your car as collateral for the loan so if the loan was to be defaulted on, then the lender would have no choice but to repossess your car in order to get the money back that they lent out. If this must be done, lenders sell the car at auction and end up getting less than they would have if the borrower had not defaulted, so this is undesirable for both parties.

  • Shorter Payback

Many Car Title Loans have shorter payback schedules than the typical bank loan. There are some lenders that require the loan be paid back in just a few months which can make the payments astronomical.


The Benefits of Choosing TFC Title Loans

If you do end up deciding that title loans are well worth it and the right choice for you, you may still feel unsure which title loan lender you should work with. We want to prove to you why we are the best lender to turn to when it comes to title loans by explaining all the amazing benefits that we can provide for you if you make the decision to work with us.

  • We have dozens of locations all across California, Arizona, and New Mexico. If you are in one of these three states, then you are likely to be very close to one of our offices.
  • Our online application is quick and easy. So, quick and easy that it will only take five minutes out of your day.
  • Friendly customer representatives will give you a call a mere minutes after you submit your online application to give you a free quote and discuss options on where you can go from there. Our quick approval times make sure you don’t waste your time.
  • If you qualify, we can get you funding as fast as the very next business day without any kind of unnecessary delay.
  • You can keep driving your car just as you normally would while you pay the monthly installments.
  • Our loan terms are flexible so that they can be customized to your unique circumstances. We offer terms lengths that go up to 36 months so the payments are more affordable.
  • Finally, we get you the most money for your vehicle compared to our competitors.


We think title loans are worth it if you are in a situation that requires emergency funding but if you are left with any hesitations or questions then give us a call. If you have decided that you would like to get a title loan with TFC Title Loans, then fill out our online application today!

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