Welcome to Auto Loans Guide
Texas Auto Loans Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Why People Choose Car Title Loans
from:One thing that many people are not watching when getting a car loan is which type of loan it is. In fact, many people are now considering car title loans over the basic car loan (through a financial institution); which in the end is there 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 thought 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. In fact, many people walk into a car title loan business and walk out within twenty minutes with their money that they 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. In fact, 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.
Texas Auto Loans Specific links
Texas Auto Loans News
Cities move to regulate payday lenders
In Dallas, Austin, San Antonio, Brownsville, Irving, Mesquite, Sachse, Richardson, Garland and Little Elm, city governments have passed zoning ordinances to limit the expansion of payday lending businesses in their cities. The recent state laws require payday and auto title lenders to be regulated by the state and to post a schedule of fees in visible places in their businesses. “In Dallas and ...
Read more...Feds probe Sugar Land electric car fire
The U.S. National Highway Traffic Safety Administration sent investigators to help probe what caused the fire in Sugar Land, Texas, that Fisker learned of May 3, Claude Harris, the agency’s director of vehicle safety compliance, said today.
Read more...Fisker Karma Fire in Texas Garage Being Probed by NHTSA
U.S. auto-safety regulators are investigating a Texas garage fire that destroyed a Fisker Automotive Inc. Karma, a $103,000 plug-in electric vehicle.
Read more...Auto Affordability Down Slightly In First Quarter, Comerica Bank Reports
DALLAS, May 21, 2012 /PRNewswire/ -- The purchase and financing of an average-priced new vehicle took 23.2 weeks of median family income in the first quarter of 2012. Consumers on average spent $300 more ...
Read more...NHTSA probes fire in garage containing plug-in Fisker Karma
U.S. auto safety regulators are investigating a Texas garage fire that destroyed a Fisker Automotive Inc. Karma, a $103,000 plug-in electric vehicle.
Read more...