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Auto Title Loans Vs Payday Loans

If you need to decide between an auto title loan and a payday loan, which one would you opt for? At a glance both seem alike – they charge high interest rates, they are both short-term loans, provide immediate cash for those who cannot afford the luxury of a conventional loan, and are available quickly. These loans work fine if you are able to pay them back within the stipulated time, and in both cases you need to be careful not to default on payments. You also have the advantage of paying them off early without any penalty.

There is of course a fine difference between the two

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Car Title Loans Vs Payday Cash Loans

Need immediate cash to tide you over till your next pay check comes in? Not eligible for a bank loan? If so, Car Title Loans and Payday Cash Loans might interest you. Let us look at these two options in detail.

The two loans can be compared as follows.

Collateral: Car title loan lenders give you a loan against your car as collateral. The loan amount is determined by the resale value of your car, and you get to keep your car. Your pay check is the collateral in the second option, payday cash loans, and you will have to give a personal postdated

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Car Title Loans – No Hassles Of Paperwork And Credit-Check

If you need funds quickly without the hassles of paperwork and a credit-check, opt for car title loans to bail you out in times of trouble. Car title loans can be availed of if your car is completely paid for, and the title is in your name.

All you need to do is approach a reputed agency, complete a few simple formalities and the cash is yours. You need to make sure though that you are able to repay the amount within one month, or risk getting trapped into a vicious cycle of debt. Worst still, the title lender could take away your car to recover the loan amount, and you would end up

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