Benefits of Utilizing Auto Title Loans

Automobile Title Loans: A Perfect Fit for Many Reasons

Most Americans use loans to pay for huge purchases, such as a house, vehicle or vacation. They might even secure a loan to go to college. The current economic crisis, however, has affected many people and made it impossible for those without perfect credit to qualify for loans - even loans with very high interest rates. Many people feel stuck, as if they have no options. Many do not want to take a loan out on their house, as they do not want to run the risk of losing their home. "Payday loans"- called that because the lender is expecting to get paid on your next payday- are known to have very high APR's (annual percentage rates). This means a higher cost to you- the borrower. Furthermore, many do not like to use their credit cards as these types of loans can be very expensive after the interest is added in. And there are no federal laws limiting how much interest you can be charged on a credit card-that comes under the authority of the state that the bank is based in. And if you miss a payment, you can be sure the credit card company will dramatically raise your interest rate on the spot.

Thankfully, there is an excellent option available: the automobile title loan.

Do you have bad credit? That's no problem!

As its name implies, an automobile title loan allows the borrower to use the title to their car as collateral. Most of these loans are available to people with poor credit; in fact, many automobile title loan companies don't check a prospective borrower's credit score at all. This is definitely good news to somebody with bad credit! The decision to grant the loan is made solely on the value of the collateral vehicle. If you are lucky enough to own a high-value vehicle, then you may be pleasantly surprised to find that you can get a fairly high loan amount.

Atlanta Title Pawn offers title loans for customers in the Metro-Atlanta and surrounding areas.

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