Many vehicle title loans only serve to make the borrower’s financial problems more difficult. The company will lend borrower’s a little money upfront but expect huge payments costing the borrower up to 300% in interest. VIP Title Loans, located at 610 South Central Expressway, Richardson TX, and several other locations throughout the Metroplex offers a low-interest car title loan Plano with a two year payback period that allows borrowers to meet financial needs and gives them the best chance of keeping their vehicle.
Unexpected financial difficulties can affect you at any time.
A child is ill, a car breaks down or one of the hundreds of unexpected emergencies happens and you need cash. In many cases, individuals do not know where to turn. However, those with a vehicle titled in Texas have a friend who can help.
When needing money, many people first think of their bank.
With tighter regulations regarding loans, the bank where you have kept your money for decades may be unwilling to make a loan unless you have pristine credit. In addition, approval can take several days. Consumers wonder where to turn.
Many have fallen into the trap of payday loans. Sure, it is easy to get the cash that is needed, but you had better have a plan to pay back every penny borrowed along with a huge interest charge by your next payday while still meeting your normal bills. For many, one payday loan is paid off with a second one. The cycle continues and the bills get larger.
A low-interest title loan allows more of each weekly payment to be applied to the balance owed. Every payment means you owe less money. Payments may be as low as $30 per week.
What Makes VIP Title Loans Different?
In addition, VIP offers a lender approved auto club that protects members in the event of a breakdown or if the vehicle is damaged in a wreck. Without this protection, the borrower would still be required to make payments while being responsible for fixing the vehicle. With the protection, the vehicle is turned in to the company and the loan is considered paid in full. The borrower can start fresh with a different vehicle.
Borrowers who have made a deal with the devil at another loan company can find relief through VIP.
The company can pay off the existing loan, provide some cash in your pocket if needed, and refinance the vehicle at a lower interest rate. The borrower’s credit score is no problem as long as they own a vehicle titled in the state.
If a problem arises, the company will work with the borrower to make payment arrangements and ensure you are able to keep your auto.
Today, there are many companies that offer to finance for individuals who own a car.
Unfortunately, not all companies are alike.
Many charge large interest rates that mean you will never own the vehicle again. Others simply add to the financial problems one is already facing.