Alisha Delphi holds a degree in Economics and Commerce from USC. She started out as a financial advisor with a bank and has moved on to become a loan consultant with more than ten years of experience. Her key areas are auto title loans, auto pawn and fast cash loans.
A payday loan, also known as a payday advance, refers to a short-term loan that is due for repayment when a borrower receives his or her next paycheck. This is different from a payday car title loan, which refers to a borrower taking a payday loan by using an asset, a car for instance, as collateral against failure to repay.
A payday car title loan is considered a good option for subprime borrowers. A subprime borrower is a borrower with a bad credit record, meaning that he has a history of default in past loan repayments. Subprime borrowers are generally considered undesirable borrowers by lending institutions.
The short duration and higher interest rates, however, lessen the risk involved in lending money to subprime borrowers. This is why lending institutions view payday car title loans as a good loan option for subprime borrowers.
These are five reasons why you could consider taking a payday car title loan:
1. A payday car title loan is a good option if you need money at short notice.
2. You can avail of a payday car title loan even if you have a bad credit record, which means that other loan options are closed for you.
3. Payday car title loans are available at short notice. They are usually easily approved without any hassles.
4. A payday car title loan is borrowed against the security of your car. Because of this, the interest is lower than in the case of unsecured payday loans.
5. In a payday car title loan, though the lender can possess the car following default in payment, he cannot sell it. Instead, the borrower is given an opportunity to repay the loan along with the interest, and repossess the car. A payday car title loan thus differs from a payday car loan. In the latter, the lender not only has the right to possess, but can even sell off the car in case of defaults in payment.
- Related Videos
- Related Articles
- Ask / Related Q&A
Next day loans: Cash within 24 hours
By: abrahams parker | 12/11/2009For availing next day loans you are not supposed to cross the hurdles of various protracted formalities. You can use the loan amount as per your needs without having constraint of the lender.
Payday Fast: Help you to overcome from your financial crisis
By: Alice Erin | 12/11/2009Payday fast is a kind of loan through which anyone can avail swift funds in a hassle free manner. The collateral free and faxing less application procedure make the loan deal more attractive for those borrowers who require swift funds without facing any trouble.
Bad Credit Tenant Loans-Easier Finance Without Collateral
By: Loan to Loan | 12/11/2009Poor credit or bad credit tenants such as bankruptcy, defaults and arrears can also acquire the Unsecured Loan for Tenant at the realistic interest rates.
Unsecured loans: Get the money without giving any security
By: Peter Darwin | 12/11/2009These loans are blessing for the people who have nothing to pledge for getting the loan. Now they can get the loan very easily and can use that way they want to.
Payday loans for bad credit: Swift finance for adverse credit people
By: Zac Cole | 12/11/2009Payday loans for bad credit is chiefly intended for those people who are facing poor credit issues in their life and need additional funds assistance to cope up with their emergency. The entire application can be completed online.
Free bad credit personal loans: Grab swift financial aid despite of bad credit
By: 24hoursupplements | 12/11/2009If you don’t have sufficient funds with you but need it urgently then you can take assist of free bad credit personal loans. Anyone can apply for these loans without worrying about their bad credit status.
Bad credit unsecured loans: Borrow funds easily
By: Philip Quinn | 12/11/2009Bad credit unsecured loans are short term loans so there is no need of collateral and no credit check. So one can avail these loans without hesitation.
Loans for bad credit: No problem for bad creditors in getting the money
By: Peter Darwin | 12/11/2009These loans offer instant solution for the people who have the bad credit history. Even by paying the loan amount on time they also get the chance to make their image clean in financial sector.
Eligibility Criteria for Car Title Loans
By: Alisha Delphi | 18/05/2009 | LoansIf there is an emergency in the family and you are strapped for cash, one way to get funds quickly is to get a car title loan.
Auto Title Loans - Your Car to Your Rescue
By: Alisha Delphi | 13/05/2009 | LoansAuto title loans come in handy when you are facing a short-term financial crunch or are burdened with a load of unpaid bills and you need some money to tide you over till your next paycheck.
All you need to know about title loans
By: Alisha Delphi | 15/04/2009 | LoansMany people need quick cash during emergencies. One hassle-free way to get it is to use title loans. Here's everything you need to know about this kind of loan before you decide to apply for one.
Automobile Title Loans
By: Alisha Delphi | 24/03/2009 | LoansAnother financial emergency and you do not want to approach relatives and friends for help this time—not to worry, automobile title loans can take care of your impending problems such as other loan installments and dues. All you have to worry about is if you have a clear title to your automobile because that is what you are going to put to use now as collateral for the loan.
Auto Pawn Loans: Pawning With A Difference
By: Alisha Delphi | 17/03/2009 | LoansIrregular Income, Uncontrollable Expenses, a Credit Card Used Up to the Maximum, and a Family to Support-this is not an Uncommon Scenario. Where Do Go for Emergency Funds Now? Your Car Title Document, and not Your Car, is Considered the Pawn Item or Security.
Pink Slip Loans: A Quick-Cash Alternative
By: Alisha Delphi | 16/03/2009 | LoansIts Recession Time and Like Many Others, You May Have Landed in the Soup Due to Sudden Layoffs. How Do You Manage Your Expenses in Such a Situation? Pink Slip Loans Provide Emergency Funds Using Your Car Title as Collateral.
Title Loans: The Perfect Emergency Alternative
By: Alisha Delphi | 13/03/2009 | LoansIn the Event of Another Financial Setback, it Becomes Extremely Tough to Keep Going With All the Expenses That Crop Up Invariably. a Loan Does Help But When it Comes to Zeroing in on One, There are Too Many Pros and Cons to Consider.
Restore Good Credit Rating: Opt For Automobile Title Loans
By: Alisha Delphi | 12/03/2009 | LoansAutomobile Title Loans not Only Take Care of Your Immediate Financial Concerns But Also Provide You With an Opportunity to Correct Your Bad Credit Rating as a Timely Payment is Read as a Good Credit Score by Credit Bureaus.