Welcome to Auto Loans Guide
Low Rates On Auto Loans Article
. For a permanent link or to bookmark this article for further reading, click here.
Why People Choose Car Title Loans
Loan & Credit FactsOne thing that many people are not watching when getting a car loan is which type of loan it is.
Many people are now considering car title loans over the basic car loan (through a financial institution), which in the end is their choice, of course, but may not be the best choice. A car title loan is when a person uses their clear car title for a short term loan for cash in exchange.
One thing that many people are unaware of when applying for car title loans is that it is a loan that uses your car title as collateral for the value of the loan. Therefore, you must have a clear car title to get any sort of car title loans.
Another thing that many people don't know about until they are getting their car title loans is the amount of interest they will be paying, will can be very high. In fact, on average the APR (annual percentage rate) is about 300%; however, they can also be much higher as well.
Even though car title loans seem to be a very risky type of loan to take out, many people are choosing to have them. In fact, one of the main reasons why people are choosing to have car title loans is because it is a very fast and easy process, unlike a financial institution. You can walk into a car title loan business and walk out within twenty minutes with money that you need.
Another reason why people are choosing to get a car title loan versus a regular bank loan is because they do not need all the information that a bank needs to give a loan. In many cases all you need to have with you when you get a car title loan is your most recent bank statement, your most recent pay-stub, your drivers license as well as your cleared car title.
When it comes to finding a place of business that deals with car title loans, there are many places where you can go to find them.
In fact, there are now many car title loan companies that are working through the internet. However, if you do not fully trust the internet then you may want to look in your local area, as there may a few around. In fact, the best place to look for car title loan companies is through the information center.
Whether you need a new car now or not, one thing that you should most definitely think about before hand is how you want to get the money for it, as you may be paying excessively for a car title loan. Before signing anything you may want to thoroughly read over any kind of paper that you receive so that you know what you're signing.
Low Rates On Auto Loans Specific links
Low Rates On Auto Loans News
Yields hit record low: Fears ratchet up Treasury traffic - USA TODAY
 USA TODAY | Yields hit record low: Fears ratchet up Treasury traffic USA TODAY Falling rates are good for borrowers, as they lower borrowing costs on mortgages and car loans. But they are bad for savers, who earn less interest on their bonds and cash, adds Bankrate.com analyst Greg McBride. This week the 30-year fixed-rate ... U.S. 10-Year Yield Reaches 7-Month Low on Fed, ECB in Greece |
Susan Tompor: Consumers unsure about credit score - Detroit Free Press
 msnbc.com | Susan Tompor: Consumers unsure about credit score Detroit Free Press Greg McBride, senior financial analyst for Bankrate.com, noted that in today's rate environment borrowers with good credit can snag auto loan rates of 3% or lower. At 3%, for example, the monthly car payment would be $359.37 and the total interest paid ... Credit scores confusing consumers |
Struggling to Find an Affordable Auto Loan? Try a Credit Union - Go Banking Rates
 Go Banking Rates | Struggling to Find an Affordable Auto Loan? Try a Credit Union Go Banking Rates Buying a new or used car is a commitment that should not be taken lightly. Depending on the stage you're in at the moment — whether you're buying a car for the first time or simply want to take advantage of lower auto loan rates, you'll have varying ... |