5 Ways to Save Money on Your Car Title Loan

Jenny Richards By Jenny Richards, 30th Mar 2015 | Follow this author | RSS Feed | Short URL http://nut.bz/86l10ybu/
Posted in Wikinut>Money>Loans

You can make sure that you repair any issues on your car, such as cracked windows, paint jobs, etc.

5 Ways to Save Money on Your Car Title Loan

If you want to save money on a car title loan, there are a few things that you could do to either get the loan with better terms or make less payments to fully pay up for the car title loan.

Below are some of the ways that you could save money on a car title loan.

1. Optimize and improve your credit

Most car title loan lenders usually do not require that you have a good credit card score. In fact, most won’t even look to see what your credit score looks like to give you a car title loan. That said, having a good credit score is proof of your credit worthiness, and if you have at least an okay credit score, it says that you are not a high risk to creditors.

Therefore, you can improve your chances of getting good terms on a car title loan by proving to the car title loan lender that you are a low risk to them. Better terms on a car title loan means that you will be charged less interest on the car title loan, which means that you can save money on what you would ordinarily have paid.

You can improve your credit score by doing the following things:

• Get your credit reports from the 3 credit bureaus.
• Make sure that the information on your credit reports is correct. If you have incorrect information on your credit score, your overall score could improve by simply disputing and correcting the inaccuracies.
• You could also significantly improve your credit score by paying up on some of your debts. You can prioritize the debts that have small balances.

2. Negotiate for better terms

Usually, by the time you are seeking a car title loan, you are already desperate for money. This can easily make you forget that you should negotiate for as good terms as possible. Polish up on your negotiation skills before you can make a visit to your car title lender. It could save you significant amounts of money.

3. Be more knowledgeable about your local environment

For example, if you want to get a car title loans in Santa Clara, and you know lending rates that other car title lenders offer, you can then negotiate for the best terms and therefore save money.

4. Budget properly and be frugal

If you are getting a car title loan because you have less money than you require paying for something, do not waste your current savings on other things. Instead, keep the cash that you already have and use it to make your first installment on your car title loan.

Making extra payments on your car title loan could also save you money because you will be charged less interest on your overall car title loan payment.

5. Improve the value on your car

You could increase the value of the car that you are using to get a car title loan in order to save some money on your car title loan.

If you can make sure that you repair any issues on your car, such as cracked windows, paint jobs, etc., then your car will look more valuable than it currently is. This means that you can access more money on a car title loan than you normally would.

For more information visit - www.bayareatitleloans.com

Tags

Car Loan, Loan

Meet the author

author avatar Jenny Richards
I am a highly creative marketer who can always be trusted to come up with a new approach. I know that the client’s business comes first, and I never try to impose my ideas on others.

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