When times are hard, it can seem impossible to get your hands on the cash you need. If your credit is poor, you may not qualify for a conventional loan. Even if you do, high interest rates might prompt you to think twice. This can seem unfair, especially if you’re not asking for much. Fortunately, there’s hope for those who own a car and have a job. Here are 5 advantages of car title loans.
Speed and convenience are among the best reasons to consider a title loan. Conventional loans involve endless paperwork and require numerous personal details. Title loan applications, on the other hand, are short and simple. This speeds up the process to a point where it can be completed in minutes. You’ll probably get your cash the same day, in under an hour.
Traditional loans require credit checks with at least one of the three major credit bureaus . This can be a problem for those who have had credit troubles in the past, sometimes for reasons beyond their control. Car title loans are provided by lenders that don’t look at credit scores. All they want is collateral to secure the loan. A person whose vehicle is worth more than the loan, has some type of income and is not over obligated in a month should have no trouble getting a title loan.
Regardless of your circumstances, financial matters can be tricky and difficult. They have a way of interfering with other areas of your life, creating additional problems. Sometimes all you need is some extra cash to help you catch up and get back on your feet. A title loan can help you pay off unwanted expenses more quickly, so you can get back to your daily routine.
Car title loans can be obtained with any type of vehicle, provided it has been paid off and has a clean title. This means you can use a motorcycle, pickup truck, SUV or RV. All the lender has to do is look at your vehicle to make sure it’s worth the amount you’re requesting. How much you’re able to qualify for depends on its value.
One of the biggest advantages of a car title loan is that you can continue driving your car while enjoying your money. In most cases, all you’ll have to do is hand over the title and one set of keys. This is like getting the best of both worlds, since you can get your money right away, without giving anything up.
At some point, everyone needs a helping hand. If you’ve failed to secure a conventional loan, it might be time to consider a car title loan. As long as you have a vehicle and a steady source of income, you’ll probably qualify. If you believe a car title loan is right for you, contact Sonariz Financial using any method you prefer. We look forward to speaking with you and helping you reach your financial needs.