Turbo Title Loan Review

Turbo Title Loan ReviewTurbo Title Loan advertises that they can get you a car title loan with no credit check and all online so that you don’t have to visit their offices to take out a loan. They say that it is just a matter of applying online, having your application processed, and then getting your money.

The process involves figuring out how much of a loan you want, entering the information on your car, determining how much how long you want to take out the money, and coming up with a monthly payment you can afford. They say the process is safe, secure, and convenient for you, and they say that they have helped thousands of people get the cash they need using a title loan rather than other loan options that may not be as favorable.

They say that you don’t have to go anywhere, that you can apply online, and that you can get a loan even if you have no credit. They say they’ve been in business since 1999, and they also claim to be able to help you with an online chat service that occurs in real time.

Turbo Title Loan Review – Claims Made

Turbo Title Loan says that throughout the entire process your privacy is guaranteed, so you don’t have to worry that they will be sharing information with anyone else and that your data is kept secure. One thing we did notice is that their application page is encrypted properly, and has the same security that a bank’s website has in order to check your account balance. In order to apply you need to enter in the information such as your contact information, how long you’ve been at your current address, the information for your car, as well as whether or not you have a checking account, and how much you’d like to borrow. The minimum you can borrow is $1000, and the longest they let you take out a loan for is 48 months. You also need to provide your employer’s name as well as their phone number so that they can verify that you have a reliable source of income to pay back the loan.

Title Loans vs. Payday Loans
The main advantage of taking a title loan over taking out a payday loan is that you will be putting up collateral to back the loan, so you generally get more favorable rates, a lower interest rate, and a lower APR, all else being equal. That’s why it’s a good idea to consider whether there is any way you can use your car to take out a title loan before taking out a payday loan. You’ll generally be able to take out larger loan amounts with a title loan than you will with a payday loan because since you are using your car as collateral you will be able to extend the loan out for a longer amount of time, and make monthly payments rather than having to pay off the entire principal each paycheck.

Special Features
Turbo Title Loan tries to separate itself from other title loan lenders by stressing that you can handle the entire process online, with no need to visit one of their stores. They even have a toll free telephone number, and they speak Spanish so you can apply if Spanish is your first language. They have a very extensive Frequently Asked Questions page so you can get plenty of answers to your questions without even needing to talk to anyone.

Running the Numbers
It’s always important to run the numbers that they give you before taking out any loan. You may find that a title loan works perfectly for your situation, or it might be more than you need and a payday loan would actually be a better idea. East situation is different and calls for a different type of loan, so you don’t want to take out more money than you need which only leads to more fees in the long run.

Our Recommendation
We recommend checking into what Turbo Title Loan has to offer. The worst that can happen is they will reject you because you don’t qualify for the loan, and the best thing that can happen is you’ll pay less in interest for the money that you need to borrow. That is a low risk high reward situation, and we always recommend taking advantage of those.

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