Apply Now
How Much Cash Do You Need?

Need Cash?

(818) 793-0707!

The Pros and Cons of Paying Off Debt Early

Auto Title Loans a Good Bet Either Way

Debts come in all shapes and sizes and need careful organization if they are not to overwhelm you. Auto title loans have become an increasingly popular form of debt because they have no implications for credit standing, they are quickly available and they enable users to consolidate all their loans into one which can be dealt with in a short and sensible way.

Looking on the Plus Side

Paying Off Your DebtAll loans carry interest and the combined monthly interest payments can be very high indeed, so you will eliminate a lot of interest if you pay off your bills as soon as possible. Remember that because auto title loans are secured loans, secured on the unexpired equity of your privately owned car, they traditionally carry a lower rate of interest.

Fewer Monthly Payments

You concentrate on making just one payment which you have worked out previously – as you don’t want your investment in one of our auto title loans to backfire in your face. This way you know you have to make just the one payment in the knowledge that if you really resolve to cut out unnecessary expenditures, very soon you will have eliminated that worrying debt entirely.

Lower Your Credit to Debt Ratio

What we call your credit score is comprised of five categories:

  1.     Payment history – or how meticulous you have been in making payments
  2.     Amounts owed – are we talking big sums or small?
  3.     Length of credit history – how long have you been paying back credit
  4.     New credit
  5.     Types of credit used – cards, loans, mortgages etc.

What lenders want is both a low debt-to-income ratio, and also a low debt-to-credit ratio. That demonstrates responsibility as a borrower, not going for every dollar available.  It also gives them confidence that you are going to pay it back and on time.

And What’s Against?

Make sure there are no penalty clauses for early repayment – which there never are with auto title loans.

Call for a car title loan in glendale at (818) 793-0707 and get the loan you need to pay off your debt early!