Cash Back Title Loans Credit Terms

All Cash-Back loans are written for about 90 days. Loans can be extended at the option of the borrower as long as the terms of the loan have been met.

All loans written by Cash-Back Title Loans are interest-only loans. If you make only the minimum payments and are late, you will incur late fees and the principal and future minimum payments will not go down. You can always make an extra principal payment to reduce your loan balance, and all future minimum payments will go down.

Cash-Back will reward you each month for meeting the terms of your contract (payments made on time, registration and insurance current, etc). If you meet the terms of the contract in January, then Cash-Back will reduce the loan balance by one percent, and your February first payment will be decreased by one percent as well.

Payments are due on the first and sixteenth of each month. A statement showing the loan status, and a payment coupon will be mailed to the borrower for each payment.