If that’s the case for you, then some extra money may be exactly what could help you get through that tough spot.
Are you currently considering an auto title loan because you don’t want to have to go through the strenuous process of applying for a personal loan from a bank only to be turned down because of your credit score?
If you are considering a title loan, you may have some reservations in your mind because of certain things you have heard about them and how they could be harmful to your finances. You might want to know the answer to the question of why are title loans bad?
Well, we at TFC Title Loans, have been in the alternative lending industry for nearly 25 years, making us the oldest title loan lender in the state of California.
With all that experience, there is no one else more qualified to answer that question than we are! Additionally, we strongly believe it is our responsibility to ensure adequate consumer education and lender transparency so as to make you clearly aware of both the advantages and disadvantages of title loans so you know you are making the right decision!
For these very reasons, we have been expanding upon our website extensively to include resource articles just like this one to answer every one of your questions regarding title loans.
This resource article will address the risks and disadvantages associated with taking out a title loan and the ways in which TFC Title Loans tries their absolute best to minimize the risks for their customers. For all loan options out there, there are risks involved.
However, it is true that some of the risks that go along with title loans are atypical of other lending options. You can be approved for Car Title Loans regardless of your credit score which means that the lender is taking on more risk themselves by lending to someone with a less-than-perfect credit score.
Since they take on more risk, there needs to be higher interest rates on Car Title Loans.
Ever since we first started in 1994, we have assisted thousands upon thousands of customers in obtaining title loans at lower risk and competitive interest rates.
If you would like to learn a little bit more about title loans before making a decision, then please continue reading! You can also find out the pros and cons of title loans.