Loans | Kodiak O.G.

September 1, 2020 By Roger Morse Loans No Comments

All you need to Know about Title Loans

Title loans are secured loans. These are loans that are given against property like a car. Car title loans are the most popular that we have in the market today.

When it comes to title loans, you have to show proof of ownership to access the loan. The loan is given with your car as security. In case you cannot service the loan for any reason, your car will be used to settle the loan. Here is all you need to know about title loans:

They are Short Term Loans

Title loans are short term loans. This means that you have to pay for the loan without a very short period. Most of these loans are under a year, and some can be as short as three months. The nature of short term loans is that they attract very high interest. It is advisable to pay in the shortest time possible not to have to deal with penalties.

They are Available Online

Unlike other types of loans, you can get title loans online. You do not have to visit any office to get the loan physically. It is possible to get loans by looking for a company that offers loans available online. All you need is to get all your documents ready.

Before you can get approved for the loan, it is important to show documents that prove that you own the car. These documents will be scanned and presented online to the company.

They do not need a Good Credit Score

A poor credit score is a big hindrance to many people. If you have a poor credit score, it might limit you from getting a loan. Fortunately, car title lenders do not worry about your credit score.

As long as you provide proof that you are the owner of the car, it is possible to get the loan. However, before you get a loan, make sure that you do enough research about the company. It is important to borrow from a company that has good lending practices.

They are Emergency Loans

Title loans are classified as an emergency. They meet all the characteristics of emergency loans like the high interest rate and also the short repayment period.

Before you decide to take title loans, make sure that you have a genuine reason for taking the loan. These are high interest loans, and you need to take them only when it is necessary.…

July 23, 2019 By Herman Shepherd Loans No Comments

Simple Short-Term Loan Options

Short-term loans are mainly meant to settle emergency financial demands, which affect almost everyone at some point. In other cases, the reason for getting a short-term loan might be somewhat luxurious and not out of a pressing need. Whichever the case, you should be aware that short-term loan options also require you to settle the loan within the shortest time possible. That said, here are some few ways in which you can get a short-term loan.

Friends and Family

Getting a loan from a friend or a family member is one of the easiest ways to get a loan. The good thing about this short-term loan option is that it is not subject to lengthy documentation and requirements. Moreover, the repayment period can be arrived at through some agreement. The flexibility and convenience offered by these loans are the main reasons why these loans are highly regarded.

Local Banks

Another source of short-term loans can be a financial institution. Most local banks offer these type of loans to their customers who need to meet immediate monetary demands. However, this loan means that you should meet some essential requirements set by the bank. In the case of people in active employment who are paid through a bank, a bank overdraft can be classified as a short-term loan.

Credit Card Accounts

Most people with credit cards are allowed to get a short-term loan with much ease. It is a known fact that credit card loans are among the most utilized loan options owing to their ease of access. As such, individuals and business find credit card load convenient due to their ease of access. But it is imperative to exercise some caution when using these loans, considering that delayed payments can lead to far-reaching complications.

Short Term Loan Providers

With accessibility to short term finances cited as a challenge for many, some companies have come up to try and ease capital constraints in business circles. Owing to the short-term nature of their loans and degree of risk, these companies take extra precautions to ensure that they remain in business. The interest rates, for instance, tend to be higher than those charged for other loans options. Accessing these loans is simple; you only need to visit their website and submit your application.

Do you need a quick fix for your financial demands? You can always get a short-term loan. However, see to it that you have what it takes to repay the loan.…

Category: Loans