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    Edmundo Daco Jr.

    A car title loan is given to a borrower based on his vehicle documents. The loan amount that will be given will depend on the value of the car. It is different from a car loan because car title loan is applied for a different purpose from purchasing a car, whereas, a car loan is only approved for a car purchase. A car title loan is more similar to a personal loan, but it is considered as a secured loan since you will be taking the loan with the car as collateral.

    Car title loans are quick, hassle-free, same day processing, and no credit-checks required. Plus, you will be able to keep your car during the loan. Usual car title loan application steps include:

    1. applying online or calling the lender
    2. submitting required documents including your contact information, your driver’s license, and your car’s details
    3. offering of loan amount by the lender based on the value of your car
    4. approving of the loan by the lender
    5. releasing of the loan money
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