Understanding Your Auto Title Loan Payment

Last updated 1 month ago

A car title loan can get you some fast cash to help boost your financial situation. With some extra money, you can start paying off your debts and regain financial security. As long as you keep up with your title loan payments, you will improve your credit and enjoy fiscal freedom. This guide will help you understand your Cash-N-Go auto title loan payment:

Loan Structure
Depending on your current financial situation, your title loan will either be interest-only or fully amortizing. Whether you pay only interest or partial principal and partial interest, your payments will be due on the 1st and the 16th of every month. For each payment, you have a three-day grace period. If you do not make a payment in this time, your loan will fall into default status. After 10 days of missed payments, you will be charged late fees.

Payment Schedule
You will receive a statement before each payment is due to keep for your records. With a convenient online payment system, you can make your two monthly payments. On your bill, you will receive a User I.D. and password. Just enter it into the PayMyBill system and make your payment. You will then have easy access to your payment history, and your statements will show how much you have left to pay on the loan.

Lien Holder
After you fill out your contract, the title loan company will become the lien holder. It is your responsibility to continue paying auto license and maintenance fees. You are also required to pay minimum liability insurance. Once you have completed your loan repayment, you regain the lien to the car.

Cash-N-Go is here to help you maintain your financial freedom with a car, truck, or motorcycle title loan. Come in today to get the cash you need. For more information, call us at (602) 652-2107.