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26 Jun 2019   /   0 comments

Secured Loans – Learn The Basics

A history of poor credit or bad credit does not prevent you from getting loans. In recent years, secured loans have emerged as one of the most sensible solutions for people whose credit scores have decreased after going through difficult situations. Secured loans involve a security instrument that is attached to the debt instrument; this requires a pledge of collateral. In other words, a secured loan is issued with some sort of tangible guarantee such as an automobile title.

Secured Loans

A secured loan is similar to a mortgage or a line of credit that becomes a lien on a property title. The borrower must put something on the line as collateral if he or she wants the lender to approve a secured loan. Borrowers who wish to pledge their car title as collateral to get $200 will find that lenders have established minimum loan amounts that are higher than they expected. One of the reasons for these higher amounts is that the lender feels more comfortable with collateral; however, secured loans also entail more processing work.

In the United States, many people believe that they will not be approved for a loan unless they have excellent credit. The reality is that millions of Americans have FICO credit scores under 600, which means that many banks will not approve them for personal loans or credit cards. Thankfully, there are sensible lenders who still approve borrowers for traditional, secured loans.

The interest rates and fees associated with secured loans tend to vary greatly. Because of the work involved appraising the collateral pledge and filing the required liens, the secured loan market tends to be less competitive than the personal loans market; however, it pays to shop around to find ideal terms and faster approvals.

Unsecured Loans

Unsecured loans such as credit cards are relatively new forms of lending; the standard of lending around the world continues to involve some sort of collateral pledge, and this happens to be an ideal solution for people who have poor or bad credit these days.

While credit scores and histories are reviewed by secured loan underwriters, the collateral pledge tends to be of greater importance. Flexible lenders who offer both secured and unsecured loans may offer borrowers an opportunity to choose between the two.

At a time when many Americans are still recovering from the economic struggles of the Great Recession, secured loans are providing a reasonable solution for borrowers whose credit scores are not what they used to be. These loans can certainly help people in a time of need, and they can be easily approved with the right asset pledged as collateral. If you’re in need of help contact TFC Title Loans today!

amp_button_nice_short Secured Loans


Pink Slip Loan

Pink slip loans, also known as car title loans, are secured loans that require that you borrow money against the resale value of your car. The title of your car will stand as the collateral for the loan. A lien will be placed on the title of your car during the loan period and given to the lender. It is returned to you immediately after the completion of the repayment.


Timely Funding

The entire processing is simple and fast; you can get the money you needed within a few hours of your application. This is completely opposite of banks and traditional loans that require a long process that may take days.


You Keep Driving Your Car

Pink slip loans are secured loans, but it doesn’t require that you hand over your car to the lender while using it as collateral. You continue driving your car for your daily routine while you pay off the loan. All that the lender needs as a security to the loan is your car pink slip and it will be returned to you as soon as you complete the repayment of the loan.


Flexible Repayment Options

Unlike bank loans where the bank determines the repayment terms with you having no say on it, your repayment plan will be based on a conceptual agreement between you and your lender putting into consideration your source of income. If needed, the loan repayment can be elongated through a process called rolled over. It gives you a long time to pay off your balance or you can pay it off early without prepayment penalties.


Credit Score is Not a Problem

To access a loan in the bank, you need a good credit score but this is not a necessity for an auto title loan, even if we checked your credit scores, it does not affect your chance of obtaining a loan. All the major documents needed are aforementioned



Fill and submit a simple online application that entails your basic contact information and the car details such as manufacturing year, model, manufacturer, and mileage. This detail will give an insight into how much you can get for your car. Call us at 844-242-3543. You can also walk into any of our offices near you.


Get Approved

At TFC Title Loans, immediately you submit an online application, a loan agent will be dedicated to you to determine how much you qualify for; taking into consideration the resale value of your car, and your source of income to ensure you will be able to afford your loan payments. This is done within couples on minutes usually 15 min or less.


Provide Documents

Bring all necessary documents along with your vehicle to any of our offices close to you for assessment. This includes ID, proof of insurance, and proof of income.


Get Paid

Your check will be sent usually the same business day. You can have it wired to your bank or pick it up at one of our locations, Western Union, or MoneyGram.


Great Customer Service

Our staff is well trained to attend to your needs without keeping you waiting. We are always discreet about any information you submit to us and we treat them as confidential as we can. We will tell you all you need to know about the loan and ensure that you understand all prior to the signing of the loan contract. We are always available on phone1-844-242-3543 should you need any help.


High Approval Amounts

Most of our competitors try as much as possible to be on a safer side so they will offer you 30 to 50% of your car resale value but, we are distinct, we take a high financial risk to satisfy our customers. We will offer you up to 85% of your car value and you can get up to $50,000 depending on the value of your car. This is rare to come across not just in Carolina, Arizona, Florida and even in any state of the U.S.


Low-Interest Rate

Our title loan is cheaper when compared to other types of loan especially loans from payday, banks, and cash advances. This can be attributed to our low-interest rates. We offer you low interest because it’s a secured loan as your vehicle serves as the security for the loan.


No Hidden Fees, No Prepayment Penalties

We ensure that you understand all the details in our drafted loan deal including the amount payable, capital, interest, and repayment break down before you sign the loan deal, there are no hidden fees apart from the one you sign in the loan deal.


Use Different Cars to Access pink slip Loan

When you need huge urgent cash that a car resale value cannot be enough to get you, you can use different cars to serve as the collateral. However, it is important for you to be sure that you will be able to repay the loan as default may result in losing your cars.


No Credit Checks

Unlike banks and other conventional loans that regarded credit check as a top priority, TFC Title Loans do not need your credit reports, we may check but it doesn’t disqualify you for a loan. Pink slip loans are obtained using your vehicle title as collateral, so without your credit scores, we still feel relax and have full confidence in you that you will make your payment on time.


Pay On Time, Pay Less

We do all we can to ensure our customers’ satisfaction, we offer a long period as long as 24 to 48 months for repayment and also schedule a repayment plan in accordance with our customer source of income. The majority of our customers repay their loan on time and pay less interest. We told them the amount to pay and when to pay. We offer loan renewal for our clients who are unable to pay at the right time. This permits them to pay only the interest and renew the capital into a fresh loan.


About TFC

We are your number one-stop loan source; we are close to you as our offices are located in almost every corner of the United State including Texas! We offer the best loan that fits your financial situation; we put into consideration your source of income before we make any loan recommendation so that we don’t end up putting you in a situation where you lose your collateral. We offer sufficient cash through our pink slip loan to meet all kinds of needs; our customers do not struggle to repay their loan as our repayment term is flexible and there are no hidden fees. Majority of our customers repay their loan in their next payday with low interest since they know how much they need to repay and when it needs to be paid. We have been in existence since 1994 and thousands of people have been saved through our loan program.

Don’t Take Our Word For It

Use Google to research companies including reviews and testimonials. Read these 6 tips for getting the best deal on a car title loan at:

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