Many Americans are currently way over their heads in debt. The amount of overall credit card debt alone is more than $849 billion. Because of such problems with debt, many consumers do not have the funds available to make it from week to week. They need an immediate source of funding for household bills, quick debt consolidation, clothes shopping, grocery shopping and more.
Payday loans are acceptable, but they do not have the same benefits an instant auto title loan can offer. As a consumer, you can drive through a financial crisis by applying for a title loan at a convenient, nearby location.
Drive Your Way to Financial Freedom
The best thing about instant auto title loans is that you can still drive your vehicle during the life of the loan. Auto title lenders want to give you the opportunity to drive back and forth to work so that you can repay your advance. They don’t believe in hindering you by taking the vehicle. Such lenders will place a lien on your vehicle, but you will still get to drive home in it.
No Guilt or Shame Over Your Credit Score
You do not have to feel unworthy or ashamed because you have come across difficult times. Auto title lenders will use your vehicle’s title as their insurance of a repayment. They will repossess the vehicle if need be, but their goal is not to take the car. Their objective is to provide you with the opportunity to grab hold of the funds that you truly need.
Large Lump Sums Are Available
Payday loans may be popular, but title loans are beneficial. Payday lenders usually max out at $300, the maximum payday loan permitted in California. Title lenders can provide you with a large cash advance because they determine the amount by the car’s value. Plus, most title lenders charge an annual percentage rate far less expensive than payday lenders.
As a vehicle owner, you can receive up to $50,000 or more as a title loan – it just depends on the value of your car.
No Sweat Over the Repayment Period
Another benefit of borrowing money from a title lender rather than a payday lender is the length of the repayment period. Many payday lenders place their borrowers in a crunch by asking them to repay their advances within 14 to 30 days. Title loans usually have a life of about 4 or 5 years, and you can pay the loan off early without a penalty.
You should contact the lenders if you are having trouble coming up with the funds to repay the loan. The specialists may be willing to work something out to give you some additional time to repay the advance. Contacting someone at least 72 hours before the payment is advised.
Apply Today and Get Funds Today
Title loan applicants can receive cash the same day that they apply for it.
The first step in the process is contacting a provider, either by telephone call or through their online form. Someone will contact you to gather some information about the vehicle.
Next, the specialist will give the consumer a quote based on the information that you provided.
If you accept the quote, your next step is to bring the vehicle in for inspection and loan processing. Some providers have mobile agents who will come out with the funds and the contract for the deal.
An instant auto title loan is available if you are in a financial jam. The only requirements for such a loan are possession of the title to your vehicle in hand, some references, and the ability to repay the advance.
Author Bio: Bruce Eatchel is a blogger and content strategist who loves to write about finance, business, various types of loans options and money management skills.