Auto Title Loans: A Checklist for Comparing Options
An auto title loan uses a vehicle you already own as collateral for borrowing. It differs from a purchase loan. These products can be short term and expensive, and the lender may be able to repossess the vehicle if repayment fails.How the borrowing arrangement worksRead the payment schedule and collateral conditions. Ask what ownership documents, access or equipment the provider requires. Verify the lender and the applicable rules in your state before handing over documents or agreeing to security over …
