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There are multiple quick cash loans available to the public nowadays. So, it can be confusing and difficult to the average consumer when trying to decide which type of loan is appropriate for their circumstances. There are a variety of influences that play key roles in the decision making process. How will this loan affect my credit? I have horrible credit. Can I even qualify for a loan? What kind of payment plan will I be given? What is a good interest rate? The list of questions goes on and on. Two of the most popular quick cash loans available are the payday loan and the auto title loan. So, in comparing these two loans, which one is better?

Honestly, when you look at the benefits of each loan the auto title loan far outweighs those of the payday loan. This is why it makes sense to take an auto title loan instead of a payday loan. Auto title loans offer larger principal balances, lower monthly payments and interest rates, and credit scores don’t come into play at all. It is really easy to qualify for an auto title loan! All you need is a clean car title, proof of address, proof of identity, and proof of income. With these simple pieces of paper you can qualify for an auto title loan in as little as twenty minutes. Auto title loan companies don’t even look at your credit score. The amount of the loan they offer you is based on the value of your car and the payment plan that they offer is based on your income. This is what sets them apart from payday loans. With a payday loan the interest can be pretty high, the payback period is shorter, and it is your monthly income that determines the amount of the loan. We all know that our vehicles are often worth more than our monthly paychecks. Just take a look at the average car payment or lease.

If you are in need of some cash fast, for whatever the reason, then definitely consider an auto title loan. These secure loans are easy to apply for; even easier to qualify for, and come with more benefits then a payday loan. You can’t go wrong with one of these loans. Just stop in to your local auto loan company or give them a call. In just a few minutes you can be preapproved for one of these loans. You can even have the cash in hand the same day.

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