Herndon, VA, October 17, 2016 --(PR.com
)-- A new Title Loan company is offering consumers in the Northern Virginia Area a lower cost alternative to the very high interest rate lenders that blanket the area. Following a different business model, Fast Title Lenders is able to offer their customers title loans at a fraction of what other lenders charge. Their Interest Rate is 8% per month on all loans; compared to other lenders ranging from 12% per month on the low end to 22% per month on the high end. They also do not charge any lien fees.
Their model is based on lower overhead costs with the savings passed on to the customers. "We looked at the way other Title Lenders in the area were operating, talked to customers, and read hundreds of online reviews from both customers and employees," said President Michael Heinle. "We were surprised at what we found and thought there had to be a better way to provide this service that so many people in this area need and use regularly at a more reasonable cost. We believe we have found a better way and our customers agree. Some have driven over two hours to visit us versus other lenders closer to them."
Transparency is also part of their mission. They provide their interest rates and a title loan calculator on their website to let their customers model different loan amounts and terms, and choose the loan that both meets their immediate financial needs and is affordable to them. On a $3,000 12 month loan, their monthly payment is $398.09; the majority of lenders in Northern VA charge significantly more for the same loan. A loan at 8% per month can provide significant savings for the borrower versus a 17% per month loan which is under the maximum allowable rate. The total savings on this loan is approximately $2,439.00, with a monthly savings of over $200.
About Fast Title Lenders
Fast Title Lenders provides the lowest rate Title Loans in the Northern Virginia area. Founded on the principles of lower costs and transparency, we provide consumers with an alternative to the high cost lenders that operate in the area. By providing consumers with Title Loans they can afford, we are able to minimize defaults and actually help those in need of short term funds rather than make their situation worse.
For more information visit www.fasttitlelenders.com.