Title loans.

Definition:

A title loan is a loan secured with an automobile title that is obtained under the agreement that it will be paid off within a term between 14 days and no longer than 31 days.

The Loan Factory only produces installment loans. We don't offer the option of a title loan to our customers because a title loan can be extremely dangerous.

A title loan will provide a borrower with cash from a lender in return for the title of their pre-paid vehicle. People turn to a title loan because a credit history check isn't necessary. Sure, it's nice to receive a loan without a credit check, but the financial risk simply isn't worth it. A title loan must be paid back in full by the 31st day after the loan was received. When these loans aren't paid back, defaulting on a title loan can result in losing their car.

The Loan Factory does not offer a title loan but does make loans with an auto used as collateral. Our secured installment loan can give you up to one year to pay the loan back depending on how much you borrow. Using a car as collateral may allow you to obtain a loan when you would normally be turned down or it may allow you to get a larger loan then if you didn’t use a car title. These are not title loans, they simply help people obtain a loan that would usually be rejected or would usually be larger than they could receive without using their vehicles as collateral.

If you have a title loan with a company now, ask us to pay them off with your new loan from The Loan Factory. Our rates are traditionally lower than a title loan and since we give you up to one year to pay the loan back, it makes it much more affordable as well.

Simply call our office toll free and we will give you an approval using your auto title as collateral and an option without using your auto title. If you decide to select the approval using your automobile as collateral, we ask that you bring the automobile title with you and drive the car to our office when you get the loan so we can analyze the condition of the car. You do not need to leave the car with us when you get the loan. If you can’t find your title, we can even help you file for a new one and we do not charge you anything for that service.

Why get a title loan when you can get a better loan made just for you at The Loan Factory? Give us 5 minutes of your time and find out what a difference we can make. Contact us today and let us help you get a better loan The Loan Factory way.