Surviving a Financial Emergency The standard advice for surviving a financial emergency is to have a sufficient emergency fund ready. Although that’s an ideal solution, it’s not always realistic. If you’re already struggling to make ends meet, putting away money every month for an emergency fund may be out of reach. One convenient option when […]
Surviving a Financial Emergency
The standard advice for surviving a financial emergency is to have a sufficient emergency fund ready. Although that’s an ideal solution, it’s not always realistic. If you’re already struggling to make ends meet, putting away money every month for an emergency fund may be out of reach. One convenient option when you need money quickly is a title loan. What is a title loan? It’s a loan where you’re leveraging the value of your car to borrow money.
Why Title Loans Work Well for Financial Emergencies
Financial emergencies can arise out of nowhere. Maybe your car breaks down and you get stuck with an expensive repair bill. Most people need their vehicles, which means you’ll need to pay to get your car fixed right away. The same is true if you’re dealing with a home repair or a medical emergency.
An essential part of surviving a financial emergency is making sure your bills still get paid. Otherwise, you’re looking at delinquent bills that could end up accruing late fees and even being sent to a collection agency.
The problem with getting a traditional loan in this situation is the time that it will take. The application process for a loan can take days or even weeks. You may not have three weeks to wait before you get your money. And if you don’t have a good credit score, qualifying for a loan will be difficult.
A title loan solves both of these issues for you. The title loan application process is as fast as it gets for a loan. You can get the money from your title loan the same day that you apply for it. Many borrowers don’t even spend an hour in the title loan company’s office before getting their loans.
What about your credit score? That won’t matter with a title loan. The only factor that the title loan company uses in deciding whether to approve you for a loan, and the amount they’ll approve you to borrow, is your car’s current market value. Title loan companies don’t perform a credit check when you apply.
Low income title loans are available in most states. The typical lender will only need to see three things to issue your title loan:
- One form of government-issued ID
- Your car
- Your car title
Notice that the list doesn’t include tax returns, banking statements or paystubs. There are only a couple states where title loan regulations require lenders to see proof of income, and that is just to verify that you make enough to pay back your loan.
How You Can Get a Title Loan Right Away
Time can be of the essence when it comes to surviving a financial emergency. Even trying to find a title loan company in your area could take time that you don’t have, as running a search for lenders can bring up listings for companies nowhere near your city.
The good news is that you have another option available. We offer an application for car title loans online, and you can fill it out by going through the following process:
- Go to either our Home page or our Apply page.
- Fill out the fields with your vehicle’s information and go to the next section.
- Fill out the fields with your basic contact information, and then submit the form.
That’s all we need you to do, and we’ll run your vehicle’s info to figure out its current market value, provided that it’s still in good condition. With that, we can provide a free car title loan estimate to you, which will give you a solid idea of how much money you could borrow.
We’ll also tell one of our personable title loan reps to get in touch with you as soon as they can. On this phone call, our title loan rep can answer any of your loan questions and give you the details of a title loan company in your area. Just stop by that title loan company’s office and you can pick up your loan. You will need to give the lender your car’s title to get your loan, but not your car. Your car stays with you as you pay back the loan, and once it’s paid in full, you get the title back.
Extra Money When You Need It Most
It’s great to have an emergency fund so that you’re prepared for whatever life throws at you. But if a financial emergency leaves you short on cash and you’re not sure what to do, a title loan can get you through those hard times.
When you get a title loan, you’ll be able to pay off any immediate expenses before they end up delinquent and rack up fees. Financial issues can be a constant source of stress, and your title loan will allow you to relax and sleep easier at night knowing that your most immediate issues are taken care of.