Understanding the Mechanics of Lending Based on Vehicle Title

iStock_000008128631SmallWith operations spanning the East Coast, Cashpoint Car Title Loans offers vehicle owners strategies for receiving loans that avoid the necessity of selling their car, truck, or SUV. This type of lending places a lien on the title of the vehicle, which is removed once the short-term debt is repaid. This convenient and expedited option is available only to customers over the age of 18 who currently own vehicles with no liens placed on the title. 

A key advantage of a title-based loan is that it avoids the usual credit- and job-related requirements of traditional lending. This enables people to gain lending approval with no credit history check and nothing at risk beyond the collateralized vehicle. The loans generated by the process typically range from less than $1,000 to $10,000, and a vehicle appraisal determines the exact amount of money offered. Cashpoint keeps the title until the entire loan balance is paid, at which time the vehicle is released and the account can be closed and the agreement terminated.

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