Car Title Loans in AlamogordoCar title Loan FAQWhat is the interest rate?The interest rate depends on the size of the loan and ranges from 7.5% to 8%. This is monthly. How long is the payback of this loan?We set it up for 2 to 3 years but some people only need it for a month or a few months. There is no prepayment penalty if you pay it off sooner than designed. How about my credit? I am worried that my credit will disqualify me.A car title loan is really all about your car than your credit. Think of it like you are pawning your car with the exception that you are not leaving the car with the lender. You are just getting a loan on the value of the car, not selling it. Does the title have to be in my name?Yes, the title does have to be in your name and the title needs to be in the same state as you live. Meaning if you have a car that is registered in another state, we will have to help you with the transfer to this state before you can get a title loan. How much income do I have to bring in to get a loan?We are not worried about employment, retired or disability. We just have to know that you have a way to pay this back. To that ends, you will have to show that your bring in $1500 or more per month. |
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