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Car Title Loan Reviews

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MAX CASH TITLE LOANS

Max Cash Title Loans is a referral service that helps customers find car title loans with licensed lenders/brokers. They enjoy a solid reputation and the ability to deliver funds in as little as one business day. Max Cash can help borrowers in every state except New York, and they are our top pick for car title loans.

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LOAN MART

LoanMart has a respectable "A" rating with the Better Business Bureau as an auto title lender, and a website that provides a good deal of information consumers should know when getting an car title loan. However, LoanMart currently only serves customers in the states of CA, AZ, NM, UT, MO, IL, AL, SD, and WI.

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AUTO CASH USA

Auto Cash USA offers title loans through a network of licensed vendors throughout the United States and Puerto Rico. Their loan process is less convenient than others, requiring you to deliver documents and bring your vehicle to one of those vendors for inspection prior to approval. Their interest rates are also extremely high. But, an A+ rating with the Better Business Bureau makes Auto Cash USA worth considering.

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1 800 CAR TITLE

In business since 2001, 1 800 Car Title has helped hundreds of thousands of customers to get fast cash through their car title loans. They are fully licensed or registered, and in good standing, in every state in which they lend. However, their C- rating with the Better Business Bureau, along with a hefty fine issued by the CFPB for illegal debt collection tactics, raise concerns with using their car title loan service.

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LOAN AUTO TITLE

Loan Auto Title has a visually appealing website and good information about auto titles. However, with no disclosure whatsoever regarding interest rates and questionable affiliations with other poorly-rated websites, we can't recommend that you use Loan Auto Title for your loan.

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Car Title Loans

Car title loans help millions of people to quickly access cash in times of need. In today's economy, not everyone is fortunate enough to have money in savings or a generous friend or relative from whom to borrow. When unexpected bills arise, such as an expensive car repair or visit to the emergency room, it can be challenging to find the funds to pay them. Car title loans use your vehicle's title as collateral for a short-term loan, while still allowing you full use of the car for all of your everyday needs. When you repay the loan, the title is returned to you, hassle-free.

Why do some people choose car title loans over other ways to borrow money First, most car title loans are available to customers who don't have high credit scores. Also, the amount of an car title loan is based on the value of the vehicle, so some car owners can get more money than with other types of loans, if they have a car that's worth more.

However, car title loans have some disadvantages that you should consider. The main caveat is that if you do not repay the loan, you will lose your car as the lender will effectively be the new owner. This can jeopardize your ability to get to work, school, or other important destinations. Equally disadvantageous are the high interest rates charged by most car title lenders. Obviously, car title loans are a last-resort way to borrow money, given the high fees and the risk of losing your vehicle.

Still, being able to get the cash you need to pay overdue bills or for other pressing needs is important. When evaluating different car title loans, make sure to keep in mind the following:

  • Loan Amount. How much money do you need A variety of loan amounts are offered by different lenders, and most have a minimum amount that you'll need to borrow.
  • Service Fees and Interest Rates. Will you be charged anything for processing the loan What are the interest rates typically charged by the lender
  • Convenience. Is the application process 100% online, or will you need to fax in any required documents How quickly will the funds be transferred to your account

TopConsumerReviews.com has reviewed and ranked the best Car Title loans available today. We hope these reviews help you find the right title loan for your short-term financial needs!



Car Title Loans In The News

How collateral works in getting bank loans

These loans are often expensive and should only be used as a last resort. They go by a variety of names, such as car title loans, and generally involve using your automobile as collateral. Be careful with these loans: if you fail to repay, your lender can ...

Published:  Tue, 20 Feb 2018 15:05:00 GMT



Stratford Woman Sentenced To Federal Prison For Fraud Schemes

... and claim that the title had been lost and they needed a replacement title. At the DMV, they would present a fake letter from the car financing company stating that the loan had been paid off in full. After they received a new title, the Alexanders ...

Published:  Tue, 20 Feb 2018 17:09:00 GMT



Legislation Targets Car Title Loans

New legislation at the State Capital takes aim at exorbitant car title loans. An auto title loan is like a payday loan, with your car title held as security. If a borrower doesn't pay back the loan, the lender can seize the car. Senator Kimberly Lightford ...

Published:  Tue, 13 Feb 2018 22:52:00 GMT



The nightmare of car-title loans

One in 5 borrowers of single-payment, car-title loans has their car or truck seized by the lender for failing to pay back their debt. More than 4 in 5 of these types of loans are renewed the day they come due because borrowers can't afford to repay them in ...

Published:  Fri, 20 May 2016 03:34:13 GMT



More auto title lenders are snagging unwary borrowers in cycle of debt

Short-term lenders, seeking a detour around newly toughened restrictions on payday and other small loans, are pushing Americans to borrow more money than they often need by using their debt-free autos as collateral. So-called auto title loans - the motor ...

Published:  Sun, 07 Jun 2015 05:00:00 GMT



Consumer Guide: Predatory Car Title Loans

Car title loans are small-dollar, short-term loans that carry triple-digit interest rates designed to drive you deeper into debt and ultimately take away your vehicle. While The Center for Responsible Lending says some states have passed laws that ...

Published:  Thu, 05 Feb 2015 14:19:33 GMT




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