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This is a requirement according to the government. You are not considered of age and eligible for the loan if you are below that age. A steady source of income is a must.
Of course, this is important for the repayment of the loan. How will repayment be possible if you have no job. Your monthly income must not be less than £1,000.
Some lenders only offer lien-free title loans. Roadside assistance program fees: Some lenders offer barclay cash advance roadside assistance program for people who have a title loan, and many companies require this program, charging a fee for it.
Finance fee: Payday lenders charge a finance fee upfront, which you include on your post-dated check. If you roll your loan over for an extended period, you will be charged this initial finance fee plus an additional finance fee. The fee will continue to grow until you finally pay off the full amount of the loan. Interest rates: Lenders are required to tell borrowers the exact APR being charged to the loan before the borrower agrees to the terms of the loan.
Extra requirements. All title loan borrowers must repay the amount of money they owe, pay interest, surrender their car title and pay fees. However, some companies have extra requirements when giving out a title loan. GPS tracking: Some lenders require a GPS to be placed in a borrowers car so they can track where the car is.