{"id":6606,"date":"2021-10-22T11:11:54","date_gmt":"2021-10-22T10:11:54","guid":{"rendered":"https:\/\/businessfinancenews.com\/?p=6606"},"modified":"2021-12-09T21:15:00","modified_gmt":"2021-12-09T20:15:00","slug":"legally-get-out-of-title-loan","status":"publish","type":"post","link":"https:\/\/businessfinancenews.com\/loans\/legally-get-out-of-title-loan\/","title":{"rendered":"Legally Get Out Of Title loan"},"content":{"rendered":"\n
legally get out of title loan<\/p>\n\n\n\n
A title loan is a secured loan, usually secured against vehicles such as cars, trucks or motorcycles. A title loan is a similar concept to mortgaging but unlike mortgaging, a title loan can only be applied to vehicles. But before I explain how to get out of a title loan, I think it is important to explain what a title loan actually is.<\/p>\n\n\n\n
As I mentioned earlier, title loans are almost exclusively applied to vehicles. For example, let\u2019s suppose you need money fast, but you don\u2019t want to sell your car or motorcycle because it is your only mode of transportation. It may be beneficial to get a title loan. In exchange for money, the lender takes possession of your vehicle\u2019s ownership documents (title) until the debt has been repaid, and at that point in time, they return them to you. If you don\u2019t pay back the debt you owe, the lender can legally take possession of your vehicle in order to sell it as repayment for the defaulted debt.<\/p>\n\n\n\n\t\t\t