Los Angeles, CA -- (SBWIRE) -- 04/02/2012 -- A car title loan can be a boon for a person in need of immediate cash. This is a kind of loan in which, the car of the borrower is used as collateral. The loan amount sanctioned against the car would be totally on the basis of the market value of the car. The bank offers the loan for a short span of time that may vary from 2 weeks to a month, within which the borrower is expected to return the sum. This is a short term loan and is easy to get sanctioned. Minimal paperwork is required for processing.

If you look at the other side of the coin, the interest rate is very high. As the repayment period is short, the borrower needs to have a back-up plan ready, so that the amount is returned within the stipulated time. If the borrower is unable to repay the amount with the given time, the bank takes possession of the car and resells it to get back the loan amount. Once the loan is granted by the bank, the borrower has to submit the car title loan agreement and a duplicate set of car keys. The borrower is expected to go through the terms and conditions, before signing the agreement. Only when the borrower signs the agreement, the bank approves the loan.

If you have paid the purchasing amount for your car, then getting the car title loan approved would not be a difficult task. The car title loan can be sanctioned, even if the borrower has a bad credit history. The borrower needs to submit an identity proof, income statements and age proof to avail this loan.

Tfciloan.com is one of the most reliable online sources of information. The website has all the information related to grants, be it the eligibility criteria or the document details; all you need to do is visit the website and fill up the grant application form that suits you the best.

So, in any kind of crisis, if there is financial need, the car title loan can be extremely beneficial. In any kind of emergency situation, a car title loan can be of great help, visit www.tfciloan.com or call 1.800.737.0900 today.