Age of 18 years is must if you want to apply for this car title loans option. Borrower should have a car with their own title. Lender will make sure that borrower can pay back his money on time. He will demand that borrower should have a steady going permanent job for last 5-6 months at least. In this scheme no collateral is demand. No financial security need to be arranged. Here, the unique feature is that the title of car or any other thing will work as collateral. The borrower can transfer the title of his own car to the lender and borrow the money from him. The title will be under lender and will be returned to borrower. This loan is for the short term. Also, amount given in this loan is not huge. Till the time money is not repaid, lender enjoys all the rights of the car.
The repayment time can be extended if borrower feels he cannot return money on time. But with extension interest rate will go high. Lender will surely provide you with extra time to pay money back. After the full repayment money the car title will be returned to the borrower. So, it is an easy way to get a loan without any tension. It checks no credit history. No teletracking is done. Even your bad history wont be an obstacle. You can apply for it. It takes few hours for an application to be approved. Time given for repayment usually varies from 1-4 weeks. Its basically up to the borrowers financial condition and lenders flexibility