What a busy week this has been. My parents are still in town and we had to take them to the local strawberry festival this morning. I have several emails to catch up on in the upcoming weeks, but not this weekend. What I do have is an article I came across while shopping for a new credit card online. There is another blogger out there who has a site very similar to mine, The Best Title Loans. He posted a great article on whether a title loan is a rip-off. I think it sheds some light on an industry that has been much maligned over the years, so give it a read, and we’ll see you next week.
Q. I read somewhere that the interest rates on a title loan can be well over 200% in some places, and that a title loan is a rip-off. You seem to think you know a thing or two about title loans, so what do you think? Is a title loan a rip-off?
A. Let’s give this question some perspective. First of all, let’s define the percentage rate on a title loan compared to the length of the loan. Let’s compare it to a credit card, at 29.99% APR, which is what many cards went to a few months back. That 29.99% is the APR, which is the annual percentage rate. That means you divide the 29.99% by 12 months, and you have the percentage of 2.5 % for the monthly term. A title loan is different than a credit card in the fact that a title loan is for a set period of time, usually about one month, unless you renew it. When people renew the title loan, otherwise known as “rolling it over“, they extend the title loan another 4 weeks. This is when people can get in to trouble, but we’ll get to that later. On average, the monthly interest rate on a title loan is about 9%. Even at the extreme rate of 200% APR, the interest rate for a one month title loan works out to about just under 17%. That means if you got a $1000 title loan, when the loan was due you would only owe $1170. Sound reasonable? It really is.
A title loan company only has a small amount of time to make their money back, unlike a credit card which will string a customer along for up to 30 years of minimum monthly payments. Ideally, a title loan company makes their money in a short period of time, and the customer leaves happy. A happy, satisfied customer is a return customer, and the best type of advertising around. The horror stories you hear about title loans stem from mostly two things: unscrupulous title loan lenders and customers who get a title loan without the ability to repay it in a timely manner. That’s why is is so important to research your decision to get a title loan and make sure you are dealing with a reputable lender. It is also IMPERATIVE you have a plan to pay back your title loan. Would you set out on a journey with no idea of how to get where you are going? Without a plan to get home? Lastly, a title loan is a short-term emergency loan, and it is easy to get. Add in the convenience factor, and I think the myth that title loans are a rip-off seems a little far fetched.
DISCLOSURE OF MATERIAL CONNECTION: I have a direct relationship with a brand, topic, or product that is mentioned herein and may have received compensation, either directly or indirectly, for the opinions expressed.
We usually don’t have much call to post about payday loans, but recently, because of the economy I’m sure, more people have been contacting us about payday loans. A payday loan is another type of short term emergency cash loan, but unlike a title loan which is based on the value of your vehicle, a payday loan is based on the potential of your next paycheck. A payday loan can be a real lifesaver for people who need just a small amount of cash to hold them over until their next paycheck. I have received 2 requests in the last week for a recommendation for a good payday loan in Florida. From what I’ve read lately, Florida is being hit especially hard because of the high unemployment rate as well as the severe downturn in property values, so I understand folks must really be feeling the pinch. So, about a payday loan in Florida? Hands down, the payday loan lender we hear a lot of positive things about is Florida Fast Payday Loans. Super simple to get $100 to $500 in fast Florida payday loan cash in just 15 minutes. All you need is the following:
* A Blank Check From Your Checking Account
* Most Recent Pay Stub
* Your Valid Photo ID
* Active Checking Account
DISCLOSURE OF MATERIAL CONNECTION: I have a direct relationship with a brand, topic, or product that is mentioned herein and may have received compensation, either directly or indirectly, for the opinions expressed.
All over California, people are getting the extra California title loan or California auto pawn cash they need with RPM Lenders. Car title loans, also known as “pink slip” loans or vehicle equity loans, are designed to help you with your immediate cash needs by using your vehicle as collateral for a cash loan. Car title loans differ from auto pawn loans, in that car title loan customers keep their vehicles and drive them, while making their payments during the course of the loan. California title loan amounts range from $2501 up to $10,000. With a California auto pawn loan, RPM Lenders can loan from $100 up to $100,000 on almost any type of vehicle. During your auto pawn loan in California, your vehicle will be safely stored in a secure facility until you are ready to pay off your auto pawn loan. To find an RPM Lenders location near you, look below for your city, or call 1-800-RPM-EASY today!
DISCLOSURE OF MATERIAL CONNECTION: I have a direct relationship with a brand, topic, or product that is mentioned herein and may have received compensation, either directly or indirectly, for the opinions expressed.
It’s not very often these days that we get to report on a business lowering their interest rates for consumers, but that is exactly what we are seeing with Auto Cash USA. Here’s the deal. Like any type of loan, a title loan’s interest rate is based on many factors, including the credit of the borrower. Since your car is your credit with a title loan, Auto Cash USA decided to reward borrowers with “better credit” (ie: better cars) with lower interest rates on title loans. Borrowers with vehicles less than 5 years old will qualify for this exciting new title loan program, but it really doesn’t matter how old your car is. Auto Cash USA has a great title loan for just about everyone out there, so give them a look today. Here’s how to get your auto title loan cash in just minutes with Auto Cash USA. Before anything else, make sure you have all of the necessary required items for an auto title loan. You need to own your vehicle and possess a clear, lien-free pink slip for it. You also need a photo ID, and simple proof of income, like a bank statement or payroll check stub. If you have these simple things, you are ready to get some auto title loan cash in just 15 minutes. Simply log on to AutoCashUSA.com and fill out the quick and easy online auto title loan request form. In the fields of information, there is a input for the year of your car. If your car is a 2005 or newer, you qualify for a reduced interest auto title loan rate. It’s that simple! When you submit the form, the four title loan stores nearest you will appear on your screen. Pick one, and your title loan request will be instantly forwarded to that location. An employee from that title loan store location will call you back with all the details on your lower interest rate auto title loan and explain all about Auto Cash USA auto title loans. Once you are off the phone, simple drive to your local Auto Cash USA licensed vendor location with your required items for your auto title loan. While a store manager inspects your vehicle, you can finish up your auto title loan request with a friendly customer service representative inside. The whole process can be completed in just 15 minutes, and you leave with the emergency, short-term auto title loan cash you need. You even get to keep and drive your car during your Auto Cash USA referred title loan! Don’t miss your chance to take advantage of this reduced interest rate title loan program. Log on now to find a licensed Auto Cash USA title loan lender near you!
DISCLOSURE OF MATERIAL CONNECTION: I have a direct relationship with a brand, topic, or product that is mentioned herein and may have received compensation, either directly or indirectly, for the opinions expressed.
Happy Friday. Wow, thank goodness tax season is over. What a crazy time of year for everyone! We get so many emails from people all over the country about their options with title loans. We have died down a little, so I’m going to use this opportunity to introduce everyone to a new great group of title loan vendors that are nationwide. First, let’s see what a title loan in your state offers.
1) Fast and easy cash
2) No credit checks
3) Keep your car during your title loan
4) Apply online 24/7
5) Great phone support
6) Minimal required items
7) Cash in just 15 minutes
Should I go on? Seriously, this is about as easy as it gets when it comes to fast emergency cash loans. Title loan amounts are available to you today in amounts ranging from $100 to $10,000. To get started today, find your state, or the state nearest you, below. Click on the link and you will be directed to their website. You can learn about their company and what they do, see the four closest title loan stores to you, fill out an online application, and get a call back from a customer service representative who is happy to help you get the cash you need in as fast as 15 minutes. Check them out, you’ll be glad you did!
DISCLOSURE OF MATERIAL CONNECTION: I have a direct relationship with a brand, topic, or product that is mentioned herein and may have received compensation, either directly or indirectly, for the opinions expressed.
CarTitleLoanToday.com is your fast and easy choice for finding a title loan near you. Get up to $10, 000 in just 15 minutes from the comfort and privacy of home. There are over 500 licensed title loan vendors all across the country to choose from, just check out the Store Locator and find a title loan store near you in just seconds! A car title loan is also known as a title loan, auto title loan, car title loan, pink slip loan, or car equity loan. The first step is to complete the short Online Title Loan Request form and click the “Get Your Cash!” button. The four closest licensed vendor stores will appear on your computer screen with all their contact information and driving directions to their store locations.
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Clear Car Title
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Drivers License or State Issued I.D.
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Proof of Income
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Vehicle for Inspection
Usually it only takes about 15 minutes to get your title loan cash once you are at the store! It really is that easy to get a title loan!
DISCLOSURE OF MATERIAL CONNECTION: I have a direct relationship with a brand, topic, or product that is mentioned herein and may have received compensation, either directly or indirectly, for the opinions expressed.
Since the average tax return loan is for only 10 days, it makes more sense to allow yourself the extra cushion of time a title loan offers. Most title loans are for a term of 30 days, with an option to renew or “roll it over.” That means if you can’t pay the title loan amount back in full, you have the option to pay only the interest, or the interest and some of the principle, and extend the title loan for another 30 day period. Most title loan lenders will allow you to do this several times, if necessary. That means you control your money with a title loan, unlike a tax return loan. Another advantage of a title loan is the speed in which you can get your money. Most people can get their title loan cash in about 15 minutes once they are at a licensed vendor location. Try doing that in a tax return loan store! In addition, the title loan industry is, and has been, a very tightly regulated and monitored industry, unlike the tax return loan industry that seems to make up it’s own rules as it goes along. Like any type of business transaction, the consumer needs to make an informed decision. Choosing the right title loan company can be tricky, but that’s why there are review sites and Approved Lenders lists. Here are some recommended title loan lenders that span the entire country and boast a roster of over 500 licensed title loan vendors nationwide. Happy tax season, and don’t get tricked!
DISCLOSURE OF MATERIAL CONNECTION: I have a direct relationship with a brand, topic, or product that is mentioned herein and may have received compensation, either directly or indirectly, for the opinions expressed.
When times are tight, and I know they are tighter now than ever, your income tax refund check can seem very important - and a long ways off. If you’ve worried about where you’re going to get all the money you need, you may have seen or heard commercial promising easy loans against your income tax refund that can be in your hands in hours. When money is tight, that sounds pretty tempting. But what is a better deal for the money-a title loan or a tax return loan? The bad news is that taking a loan against your tax return will cost you hand over fist. Instead of helping you climb out of a financial hole, these tax return loans will put you deeper in debt. Here’s how they get you. You go to a company with your tax forms, and they issue you a check based on your estimated refund amount. Usually, you don’t get a loan for your entire tax return, just part of it. Most loan companies insist on being the ones who actually do your taxes as well, but some companies will accept returns prepared by you or another company. To get the tax return loan, you usually have to pay a fee of anywhere from $30 to $90, plus a $40 electronic filing fee, plus any fees associated with preparing your return. The loan company then sets up a special account so that your refund from the IRS goes directly to them. Your loan is considered paid in full when the IRS deposits your refund into that account. The difference between what was loaned to you and what the IRS pays you is the interest you paid on the loan.
The interest is where they get you. Expect to pay at least 200% in interest, if you’re lucky. If you’re not so lucky, you can pay upwards of 2000% in interest on your loan! In fact, in 2005, American doled out over $900 million in tax refund loan interest payments. These crazy interest rates get even more ridiculous when you consider the average length of a tax refund advance loan: just ten days. On average, tax refund loans help you get your hands on your cash just ten days before the IRS would have paid you, and you pay at least 200% interest for the privilege. Considering a title loan will average you about 25% interest for an entire month, it becomes more and more clear that if you need your tax return money now a title loan is a much more affordable route to take.
DISCLOSURE OF MATERIAL CONNECTION: I have a direct relationship with a brand, topic, or product that is mentioned herein and may have received compensation, either directly or indirectly, for the opinions expressed.
When you need a quick cash infusion, many people look for a title loan online. But if you live in Georgia or Alabama, there is no such thing as a title loan. In these two states, title loans are referred to as auto pawn loans. Our approved auto pawn lender in Georgia offers Georgia auto pawn loans that are very similar to how a title loan works. At Georgia Auto Pawn, our approved Georgia auto pawn lender, you always get to keep and drive your vehicle during the life of your auto pawn loan. The pawned item is the vehicle’s title, or “pink slip”, so the vehicle remains available to the borrower to help them resolve their financial emergency. The required items are simple-Photo ID, Clear vehicle title, and a running vehicle. Like our approved title loan lenders, Georgia Auto Pawn offers online pre-approval and several convenient neighborhood locations. I will strongly advise anyone looking for an auto pawn loan in Georgia to give Georgia Auto Pawn a call. I will also close by advising that no one ever allow a short-term emergency lender to seperate them from their vehicle to secure a title loan or auto pawn loan. There are better approved lenders that can offer you better terms and most certainly a better outcome. Why not get your financial house in order this year? Call Georgia Auto Pawn today!
DISCLOSURE OF MATERIAL CONNECTION: I have a direct relationship with a brand, topic, or product that is mentioned herein and may have received compensation, either directly or indirectly, for the opinions expressed.
One last entry to catch up today-www.AtlantaTitleCash.com is another new arrival to add to the approved lender roster. This hot new website is helping people in Atlanta, Georgia connect with title loan lenders, and what a reputation they are getting for connecting folks find fast and easy auto pawn cash loans in Atlanta. Remember, an Atlanta auto pawn loan is just like a title loan in Atlanta, except the state of Georgia has different regulations regarding what an auto equity loan is allowed to be called. Either way, all over the Atlanta metro area, people are getting fast auto pawn cash-anywhere from $300 up to $10,000 in just minutes, with no credit hassles and great online and phone support at www.AtlantaTitleCash.com. The required items are minimal, and you will always get to keep and drive your car when you go with an Atlanta auto pawn lender you find with www.AtlantaTitleCash.com. If you want to find an auto pawn loan near you, you are in the right place. Just fill out the online form and get the lowdown on how an Atlanta auto pawn loan works. So if you are looking for fast cash loans in Atlanta, go find your vehicle auto pawn lender with www.AtlantaTitleCash.com today.