Many people are desperate for short term financial assistance and they are very likely to be the kind of people with a bad credit rating or even non-existent. For them making an application to a bank or similar lending institution would be a total waste of time because they would have to confront a searching examination into their credit status, fill in form after form, face awkward questions and then emerge with nothing. Learn more at https://spacecoastdaily.com/2020/01/everything-you-need-to-know-about-car-title-loans-in-california/
Here are some of the reasons you should consider a car title loan whenever you need quick cash:
· Banks require more paperwork and will review your credit past
· Pawnshops require you surrender your loan collateral
· Credit card companies can raise your interest rate
· Cash advances and Payday Loans have short repayment terms
Your lender should not impound your car after getting a title loan. However, you should establish this fact before proceeding with your loan application so that you are not shortchanged. The lender is only expected to place a lien on your title which will be removed and returned to you after you have completely paid off the loan.