tag:blogger.com,1999:blog-82416471325110406642011-09-01T10:10:11.162-07:00Nothing for sale here... just some info on an interesting topic.Anne-Marienoreply@blogger.comBlogger11100tag:blogger.com,1999:blog-8241647132511040664.post-36218625734782729332010-12-04T04:02:00.000-08:002010-12-26T22:06:23.049-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://4.bp.blogspot.com/_kmLXbIR2JfM/TPou8Id7VAI/AAAAAAAAAA4/TQEduG8k_i8/s1600/beware.jpg"><img style="float: left; margin: 0pt 10px 10px 0pt; cursor: pointer; width: 320px; height: 276px;" src="http://4.bp.blogspot.com/_kmLXbIR2JfM/TPou8Id7VAI/AAAAAAAAAA4/TQEduG8k_i8/s320/beware.jpg" alt="" id="BLOGGER_PHOTO_ID_5546797501660222466" border="0" /></a><span style="font-weight: bold;">Payday Loans vs Title Loans</span> – there is seemingly an endless number of companies willing and able to lend you money on a moment’s notice. So what are the major differences <span style="font-style: italic;">between a payday loan and a title loan anyway</span>?<p style="margin-bottom: 0in;">The accepted definition of a legitimate payday loan is one in which you are approved for and loaned a certain amount of money which is based on how much your typical verifiable, steady income shows. So, you have to be employed with verifiable steady income (paystubs) in order to even qualify. The amount you’re approved for generally depends on the particular company you go to, but depends on how much you make, also.<br /></p><p style="margin-bottom: 0in;">Typically it involves writing the lender a postdated check (or approving a debit to your checking account) for the full amount of the loan, plus whatever the fees are. The fees can vary greatly, but are usually are somewhere in the lines of 15-30% of the loan amount.</p><p style="margin-bottom: 0in;">A title loan is a loan extended to you where a title (typically an automobile) for an asset is offered for collateral. <span style="font-weight: bold;">Simply put</span>, you pay them the loan amount as specified and arranged in your agreement, or they keep your title, and own your vehicle. With this type of loan, you do not have to show proof of income, but do have to allow them to take a peek at your credit history. Though, the market value and condition of your vehicle is the primary factor on determining loan amounts – not your credit history (or lack thereof). These types of loans can be for a much higher amount, depending on what vehicle you own, of course, and can even be as much as $50k.</p><p style="margin-bottom: 0in;">I can be said that title loan companies are a bit beyond and below buy here pay here car lots in that they charge even higher interest rates. It's safe to assume that because the interest rates are so high, they simply can't make very large loans to most people because the payments would be unbearable. Just like when you buy a car with bad credit, make SURE that you know all of the details of what you're getting yourself into and especially, make CERTAIN that you're dealing with a reputable and legitimate loan company.<br /></p><p style="margin-bottom: 0in; font-weight: bold; text-align: center;"><span style="font-size:130%;">Just keep in mind, what goes up, generally comes down, and what you borrow, must be repaid!!!</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/8241647132511040664-3621862573478272933?l=aboutpaydayloans.blogspot.com' alt='' /></div>Anne-Marienoreply@blogger.com