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17 Jun 2019   /   0 comments

How Are Title Loans Repaid?


how are title loans repaidAre you thinking about getting a title loan? It might be a good idea to learn a bit more on how are title loans repaid!

Paying Back A Title Loan

In this article, we will be explaining all the convenient ways you can pay back title loans with TFC Title Loans.

We are very passionate about consumer education and lender transparency which is why we have been steadily expanding our website to include various resource articles in order to answer any questions you or any other customers might have about the title loan process or finances in general.

If you need to know more about the options for repayment before applying for your title loan, then please continue reading.

Ever since we first opened our doors in 1994, we have put an emphasis on customer service. If you are successful, that means we are successful as well. Interested in getting a title loan? Think that you might like to work with us, here at TFC Title Loans? Fill out our online application today! The simple and quick online form will only take five minutes out of your day and we will give you a call within an hour of your submission.

Repaying with TFC Title Loans

TFC Title Loans has been working hard to continue developing new ways to make payments on your title loan. We want the repayment process to be as convenient and simple for you as possible. Currently, these are the available options we have to make payments on your loan:

  • Consumers can mail in your payments just like you usually would with your rent check or utilities check.
  • They can pay online every month or set up an automatic payment through ACH on our website.
  • You can pay over the phone simply by calling with one of friendly customer service representatives.
  • Also, you can pay in person at one of dozen locations across Arizona, New Mexico, and California with either cash, card, or a check.
  • Additionally, you can make a payment at your local MoneyGram center or by using MoneyGram online. The standard fee for making payments with MoneyGram is $9.95 and MoneyGram’s online service has a $600 limit per transaction.
  • And, lastly, we accept payments through Western Union to make the payment process as easy for you as possible.

Pay Off Your Loan Quickly

It’s always a good idea to be strategic! You can pay off your loan quickly to avoid extra acquirement of interest. If you plan carefully, then paying down your loan can be surprisingly easy to do. This is possible for you because TFC Title Loans never charges prepayment penalties.

  • Calculate all the scheduled monthly payments into your budget so that you can always have enough money leftover at the end of the month to make your loan payment. If you don’t budget currently, then it would be a good idea to start now.
  • Call and check in with us on a regular basis. By keeping an open line of communication with us, you will have a sense of security and you will know that you can reach out to us if you need help.
  • If you have more money leftover at the end of the month then try to pay more than the required monthly payment. If you pay your loan down earlier than scheduled, you will minimize the amount of interest you need to pay.
  • Ensure that you stay up to date with all of your billing statements so that you can keep close track of what has been paid down thus far and how much further you still have to go. By staying up to date with your billing statements, you will be less likely to make a late payment.
  • Calculate the interest on your own so you can come up with your own payment place to minimize the interest you end up paying as much as possible! You could pay off the title loan earlier and on your own schedule.
  • Think about new ways to make some more money on the side so you can pay off the loan on time or earlier.
  • And, most importantly, if you have any concerns about your payments then give us a call straight away.

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