Understanding the Benefits of an Auto Title Loan in Plano
Here at VIP Title Loans, we strive to provide consumers in the Plano area with affordable, professional, and easy-to-understand services.
We are a leading services provider of car title loans. Continue reading below to learn more about these types of loans, and how they can be beneficial to you.
Understanding Car Title Loans
By taking out a car title loan, you are able to access cash funds in a simple and quick manner; this type of loan allows you to tap into the equity that you have in the vehicle that you own.
Whether you own a car, motorcycle, truck, or SUV, you can use your valuable asset to access a cash loan.
An auto title loan allows you to use your car as collateral for the funds that you are in need of.
Benefits of an Auto Title Loan
- There is no credit check
- Quick Approval
- You can keep your car
- We have different locations
In addition to the above-listed benefits, taking out an auto title loan is advantageous for numerous reasons. For starters, this type of loan allows you to access cash funds by yourself instead of having to borrow money from your family and friends.
Even though these types of loans are not meant to be a permanent solution to your financial burdens, they do provide a great alternative to payday loans. Payday loans are often accompanied by extremely high-interest rates; however, auto title loans generally have very reasonable and affordable interest rates.
Also, unlike payday loans, title loans do not have to be repaid within two to four weeks. Instead, payments can be stretched out over several months. In fact, payments can even be stretched out over several years.
One of the most advantageous aspects related to car title loans is that you can continue driving your vehicle while you are repaying your loan.
The only reason that you would lose access to your vehicle is if you become extremely behind on your repayments. If this was to happen, we would take ownership of your vehicle because you used it as collateral for the auto loan that you obtained from us; however, we always work with our customers so that collecting your vehicle can be avoided.
We always strive to work with our customers by providing them with flexible repayment options. We provide weekly, bi-weekly, and even monthly repayment options.
You can mail us a check, bring cash to one of our Plano locations, or we can withdraw your scheduled repayments from your checking account. Whatever works best for you works best for us.
Bad Credit, No Problem
Even if you have bad credit, you can still obtain an auto title loan. We don’t base our lending decisions on the credit history of consumers. Instead, we base them on the collateral that our customers have to offer. If you have an auto title, bring it in today.