Symantec to Acquire Blue Coat

Symantec to Acquire Blue Coat

The security company Symantec is all set to acquire Blue Coat, a security provider, in a deal that is worth more than $4.5 billion. This deal will create an even broader portfolio More »

Business News – Gawker’s Founder Seeks to Regain Control of the Company

Business News – Gawker’s Founder Seeks to Regain Control of the Company

The bankruptcy proceedings of Gawker Media are all over the news these days, and these proceedings will result in the company’s founder Nick Denton giving up all control over the company’s websites. More »

The Importance of Reverse Mortgages is Understated

The Importance of Reverse Mortgages is Understated

There are many stories about people who reach retirement age in great financial shape. Not only do they have an investment account that has been accruing wealth, but they manage to pay More »

 

5 Myths About Title Loans Debunked

Title-Loans

There are times in life when an immediate need for cash strikes. It could be to pay a medical bill, fix the air conditioner, or even to take a stress relieving vacation. If the money is not in the bank, but you own a car, you can get the cash you need via a title loan. There has unfortunately been quite a bit of disinformation circulating about such loans in recent years, however, so it is important to set the record straight. Take a look at these 5 myths related to title loans and allow me to debunk them for you.

Good Credit Is Required

This myth is quite easy to put to rest. If you had good credit, you could just go to a traditional bank lender for a quick loan. Thankfully, there is another option that takes into account the pride of ownership you have already demonstrated by obtaining your car. Even if you have bad credit, and your record of making payments on time is less than stellar, a title loan is a real possibility for you.

You Give Up Ownership Of Your Car

When you get a title loan, you keep the car. You do not hand over the keys. In fact, as long as you are paying on the loan, there is nothing to worry about in terms of driving wherever and whenever you want. You need your vehicle to get to and from work. This provides you with the ability to earn the money necessary to pay back the loan, so of course your title lender has no desire in keep you from your car.

Title Loan Lenders Only Want Your Car

Quite simply, a title loan lender is not in the business of selling cars. They have no desire to confiscate your car, as it would mean they have to turn around and find a way to offload it in order to recoup their money. Beyond this, there are legal costs associated with this process that the lender would have to bear, so the last thing on their mind is to go through that hassle. They want to help you meet the terms of your obligation so that they do not end up owning your car.

Title Loans Are Almost Impossible To Pay Back

This is just not true. There are multiple options available to pay back a title loan, and they length of the loan is often quite flexible. As long as you understand the terms and conditions, a title loan can be paid back in due course.

Title Loan Companies Are Unfair

Title loan companies are not unfair to borrowers. They exist to help you get the cash that you need in a pinch, using you car as collateral. It is as simply as that. They have a long record of helping consumers just like you to get back on their feet financially.