A form of loan that needs borrowers to surrender the games with their automobiles to loan providers as security. Just those who have their cars outright without any outstanding liens are qualified to receive name loans. The debtor is permitted to continue driving the vehicle while he or she repays the name loan. In the event that debtor misses a repayment, the financial institution can repossess the automobile or vehicle and offer it. These loans typically carry high rates of interest in comparison to other people forms of loans.
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