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November 13, 2017
Advantage Finance, LLC, a full-service auto title loan finance company serving Houston and surrounding areas, recognized a need in the auto title loan industry: to provide consumers with an alternative to high-cost auto title loans. short term and interest only. Advantage responded to this need by offering consumers title loan buy-back programs with principal and interest loans with extended repayment periods. Advantage pays off the consumer’s short-term loan by arranging a longer-term title loan with better terms for the consumer. The repayment schedule for these loans includes both principal and interest, which is often less than the interest on the consumer’s original loan. This arrangement helps consumers by leveling their payments and making it easier to repay the loan.
According to an Advantage manager, “We help many consumers who are locked into very short-term home loans; some as short as thirty days. We complete a title loan buyout by arranging for them a new title loan with an extended repayment plan. In these cases, the repayment schedule includes both principal and interest. These are not interest-only loans. This is a great benefit for people as it reduces and smooths out their repayments.
Here’s how the program works. A consumer with a very short term auto title loan (usually 30 days) works with one of Advantage’s representatives to complete what is called a “Title Loan Repayment”. Advantage arranges a new title loan with an extended repayment period to pay off the current short-term loan. Additionally, the repayment plan for this new loan includes both principal and interest, often with a lower interest rate. The consumer is helped in two ways: by reducing the monthly payments and by granting him a longer period to repay the loan. This program is, in effect, a refinance of the original title loan.
“It’s a win-win situation for our customers and for us. We are able to help them restructure their debt, and they can reduce their monthly payments and smooth their repayment schedule. Our goal is to provide a service to the community that is both valuable and fair,” says an Advantage manager.
The Advantage Finance team, with four locations in Houston, offers the most comprehensive set of auto title lending options in the market today. For more information and to connect with one of our professionals, visit our website.
Advantage Finance, LLC.
SOURCE: Advantage Finance, LLC
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Advantage Finance, LLC. (https://www.cartitleloanshouston.com/)
November 12, 2017 06:00
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