Many people in need of a quick cash infusion may think about taking out a title loan.
This kind of loan is generally used when the borrower urgently needs money and doesnt have many other options. Generally, a title loan is a short-term type of loan that allows the borrower to borrow a large amount of money for a short period of time.
Unfortunately, many borrowers have been told by their lender that they are only able to get one title loan at a time. This simply isn't true! In all reality, its possible to get as many as four title loans at once as long as the total value doesn't exceed $50,000.
More specifically, a title loan is a personal loan that is obtained from a lender who holds the title to some type of asset that the borrower will use as collateral. In this case, the borrower provides their own assets as collateral and pays back the lender with interest. To put it simply, title loans are secured by collateral.