Title loans are a type of secured loan where a borrower uses their vehicle as collateral to obtain a loan. Here's how they work:
The borrower brings their car, truck, or motorcycle to a lender's office along with the title to the vehicle.
The lender assesses the value of the vehicle based on its condition, make, model, and mileage. The lender then offers the borrower a loan amount based on a percentage of the vehicle's value, typically ranging from 25% to 50%.
Keywords:
LOANS, PERSONAL LOANS, MORTGAGE LOANS, STUDENT LOANS, CREDIT SCORE
Posts and Comments