Title Loan Shop Review

Title Loan Shop ReviewTitle Loan Shop says you can find the best rates possible when it comes to title loans because they have the ability to loan to you at the most favorable terms and conditions. They say you can get cash online right now without having to leave your house. They have tried to make the title loan shopping process faster and easier than going it alone.

They say you can have cash in your account today and you get to keep your car throughout the entire process. Step one is applying online and finding out just how much you are eligible to take out. They will tell you instantly if your car qualifies as collateral for a loan. The next step is to fill out a one page form that details your contact information as well as your employment information so that they know you can pay the loan off over time. Step three is just a matter of getting a loan officer to contact you to finalize the details and get your money to you.

Title Loan Shop Review – Credit Check

Title Loan Shop states that they will pull your credit report and check it when you apply for one of their loans. They do go on to say that your credit has little to do with their decision and even if you have bad credit you should still be able to qualify for one of their loans. In all likelihood they will simply adjust the rate based on your credit, so you’ll be paying a higher interest rate than someone with good credit, but you’ll still be able to get the cash you need and pay it off over time rather than having to resort to a payday loan.

At all times you should try to be avoiding getting a payday loan because you’ll be paying the most fees out of any loan out there and being able to get approved for a lower rate because you’re putting your car for collateral is a great idea.

The Title Loan Process
If you’ve never taken out a title loan before you might be wondering what exactly the process is like. First, you have to realize that it is much different than a payday loan if you are you still getting payday loans. You won’t have to come back 2 weeks later on your next payday and pay off the entire balance. You get to pay off the loan in installments just like an installment loan or personal loan from the bank. The reason you get the ability to pay over time is because you’re using your car as collateral.

Once they confirm that your car qualifies for a title loan you will simply have to fill out a few forms so they have the information they need to complete the transaction. When a loan officer calls you they’re basically just going to confirm the information that you have provided and clear up any grey areas if there are any.

What They Do
Title Loan Shop is basically a one-stop shop for taking out a title loan and looking to get good rates without spending hours online trying to find individual lenders.

Why This is Better
This would be far more preferable than a payday loan or other form of credit because you are using your car as collateral which means you will generally get better rates, and more favorable conditions than if you just sign for a loan or use your promise to pay as the only form of collateral. The lender knows that they will get the money if you decide not to pay the loan off, but it could prove to be a sticky situation if they decide to repossess your car.

Our Recommendation
Title Loan Shop is a great place to start if you’re looking for a title loan and have never taken one out before. They will look at your car’s information and determine whether or not they want to give you a loan. It gives you the feeling of having an advantage over taking out other types of loans thanks to the value of your car, but be sure to pay the loan off as agreed to avoid losing your car.

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