If you are currently considering a title loan then you may be curious “ how are title loans paid back?” Here, at TFC Title Loans, we want to detail all the ways in which you can pay title loans back so you can pick the one that is absolutely best for you.
We are strong believers in consumer education and lender transparency so we want to make it as easy for you as possible to get the information you need. It is for this exact reason that we have been building out and expanding our website to include these resource articles to answer each and every question you could come up concerning title loans. So, How Are Title Loans Paid Back?
TFC Title Loans has been around since 1994, making us the oldest title loan lender in the state of California. We have nearly 25 years of experience under our belts and that has helped us to perfect the lending process along with the repayment process so it all goes as smoothly as possible.
We know that all of our customers have a different unique circumstance that makes certain payment methods unrealistic which is why we have been regularly coming up with new ways to pay down your auto title loan. The most recent option that we have introduced is a new online automatic payment method. With this new option, you will never make a late payment again.
Read more about car loans from https://www.thebalance.com/car-loans-4073341.
This new option allows you to make payments via ACH. All of our customers will be able to make payments through ACH via the phone with a representative or make a one-time payment as a guest online or enroll to be able to continue making regular/automatic payments online. Simply visit this site to make a guest payment or enroll for automatic withdrawals. However, this is only the most recent addition. There are still many other ways to pay off your title loan.
There are numerous convenient ways for you to make payments on your title loan. We continue working on new enhancements to our payment structure so this list may continue getting longer over time. For now, these are the available options we have:
Read more about what a loan is from https://www.merriam-webster.com/dictionary/loan.
When you receive your car title loans from us TFC, it’s always a really good idea to start strategizing on how you will go about paying down your title loan. If you make thorough plans, then you are more likely to stay on track. We charge absolutely no prepayment penalties so you can pay off the loan as quickly as you’d like.
Now you know How Are Title Loans Paid Back!
It depends on the title loan lender. Typically, you can pay back a title loan by mail, online, ACH payments, over the phone or in person.
If you can't pay off the title loan within the usual 30-day period, some lenders might offer to roll over the loan into a new loan. Or, you can potentially face car repossession.
Title loans are usually short-term loans and are often due within a 15-30 day period.