car title loans
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Car Title Loans

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Car title loans are a type of Hire Purchase. The rate of interest may either be fixed or variable, and are arranged by your car dealer. There is a required deposit of around 20% of the car’s value. The term of the loan is usually between two to three years of monthly payments.

Repayment periods are generally shorter compared to other forms of car loan financing so the interest tends to be much higher. Keep in mind that since this a form of hire purchase, the title stays with the company and you only receive actual ownership of the car upon the final monthly repayment.

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