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This allows you additional time to pay your friend back without worrying about losing your car or incurring extra interest fees. If you cant pay back the loan, or wont be able to, you may have to look at personal loan application form the vehicle or other items you own free and clear. Longer loans: Some lenders will give borrowers a longer time to repay their title loan. Often, these repayments are structured as interest-only payments. Pay period: Payday loans are only for one pay period.
You will set up this timetable with your lender, and they will cash your check after you get your next paycheck.