A form of loan that will require borrowers to surrender the titles with their cars to loan providers as security. Just individuals who possess their automobiles outright without any liens that are outstanding qualified to receive title loans. The debtor is permitted to carry on driving the automobile she repays the title loan while he or. The lender can repossess the car or truck and sell it if the borrower misses a payment. These loans typically carry high rates of interest in comparison to other people forms of loans.
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