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Auto Title Loans vs Payday Loans - Which One Should You Choose?

You have the options of getting a payday loan or auto title loan, if you are looking for an instant cash. However, most of the times it gets difficult to choose between the two, since most of the customers don’t know the real difference and limitations. This presentation by Car Cash Loans is going to help you make the right decision by highlighting the pros and cons for both title loans and payday loans. Visit - https://carcashloans.com/why-you-should-choose-auto-title-loans-over-payday-loans/ for detailed information.<br>

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Auto Title Loans vs Payday Loans - Which One Should You Choose?

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  1. Auto Title Loans vs. Payday Loans?

  2. Instant auto title loans and payday loans are both options for those even with low credit score. But there are some key differences between how the money is loaned, and how much. The difference could be enough to start improving credit score and quality of life.

  3. Equity • In order to get a loan, the first step is to show it can be paid back. With those that don’t have the credit score as proof, equity can be used. • In an auto title loan, the pink slip of a car is used as equity. The ownership of the vehicle is temporarily held by Car Cash Loans while you get a lump sum of money. The vehicle is still in your hands – you still get to drive it and use it as necessary. As soon as the cash advance is paid off, the pink slip is returned. • A payday loan uses a paycheck as the equity. In terms of value, a car is much more valuable than a weekly or monthly paycheck. This means the payday loan will have to match the value of a paycheck. The lump sum of cash from the loan will be much less.

  4. Loan Payment Terms • The problem with a payday loan is that it is much less money, and must be paid off immediately. It is like trading one paycheck for another. This can lead to a cycle of spending and unhealthy borrowing. Also, if paychecks stop or aren’t consistent, then the payday loan will not be there for you. • Auto title loans do not take anything away. You are still free to drive your car and keep moving forward with life and business. The lump sum is also larger because the car is valuable. And the loan does not have to be paid back in full upon your next paycheck.

  5. So, Which One to Choose? • Since most restrictions are removed, hence auto title loans become a much more viable solution to quick cash. A Payday Loan Borrower An Auto Title Loan Borrower

  6. If You are Looking for an Instant Car Title Loan in Los Angeles, CA then Call: 1-800-988-5020 Today To Qualify!

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