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In addition, title loans in California are required to be fully amortized, which means that when you make a payment on your loan schedule, you will be paying for the interest accrued and some of the principal loan amount at the same time. You must also be over the age of 18 in California to apply for a title loan. The Benefits of Getting a Title Loan in California.
If you do not think you will qualify for a loan through a traditional bank or have been turned away before, title loans are a great alternative for you. In fact, you may prefer a title loan over a traditional loan because the application and approval cbi personal loan rate is much faster. Without having to worry about a credit check, you can rest assured that you will be approved as long as your car is worth a certain amount and you have a clear cbi personal loan rate to the vehicle.
Regardless of what you may have heard, you never have to give up the title to your car as long as you do not default on your loan.