Exploring The 6 Best Benefits Of Car Title Financing

When you are in the midst of a financial emergency, you might think you have nowhere to turn for monetary assistance. After all, traditional banks and financial institutions require stellar credit and often reject it for seemingly innocuous reasons. 

However, car title financing, otherwise known as a title loan, can flip this on its head.

Here at Idaho Title Loans, Inc., you can borrow up to $15,000, depending on the value of your vehicle, without needing a good credit score, allowing you to cover your emergency and get your life back on the right path. 

With that in mind, we are using the next few sections to go over the top six benefits of car title financing to help you decide whether it's the best option for you.

Top 6 Benefits Of Car Title Financing

Car title financing can be a viable option for those in need of quick financial assistance. It leverages the equity in a vehicle to provide immediate funds, often without the stringent credit checks required by traditional lenders. This type of financing can offer a lifeline during unexpected financial challenges, allowing borrowers to maintain their mobility while managing their fiscal obligations.

Here are some of the best benefits to keep in mind with car title financing.

1. Near-Instant Cash In Your Hand

Generally speaking, loans come with long processing periods. Whether it's a few days or a few weeks, you don't have any time to waste when you're dealing with an emergency, making traditional loan acquisition akin to a waking nightmare. 

With title loans, however, you don't need to worry about that. You will receive the money you qualify for on the same day or the next bank day, ensuring you can fund the problem quickly and efficiently, without any hassles or headaches. 

2. Keep Your Vehicle

Besides the quick processing time, you can also keep your vehicle and drive it as normal throughout the lifetime of the loan, even though popular perception may say otherwise. As long as you stick to the repayment, your vehicle will remain in your possession the whole time!

3. Easy Process

Traditional loans and finance options are notorious for being long-winded and stressful, littered with in-person meetings that take hours out of your day. But you'll be pleased to know that title loans change the game. 

When you finance your car title through us at Idaho Title Loans, Inc., you can expect the following process (it's both short and sweet):

1. Get started by completing our short online request form. It sends your information directly to your nearest Idaho Title Loans, Inc. store. Alternatively, contact your local store by telephone during standard office hours.
2. Once we receive your information, we will give you a call to confirm your information, go over the things you'll need to qualify, and answer any questions you have. We will also schedule an appointment at a location of your choice or at one of our stores. We can come to your home or workplace.
3. Wherever you decide to meet, you will need to bring the requirements. 
4. Upon arriving at your location, we will perform a brief, five-minute inspection of your vehicle to establish the amount of cash you can qualify for.
5. From here, we will review the process with you and answer any questions you may have at this time. We want to make sure you are fully informed before signing any paperwork.
6. After that, we will help you sign the paperwork. 
7. Finally, you will receive the money you qualified for on the same day or the following day.

4. Simple-To-Meet Requirements

Much like the process, title loan requirements are simple to meet. So much so that we only ask for three things that are likely on hand as you read this:

• State-issued identification — You can't get any type of loan without proving your identity. It's up to you whether you use your driver's license, passport, student ID card, or military servicemember's ID card. Just ensure the identification displays your full legal name, date of birth, and portrait photograph.
• Lien-free vehicle title — We can only accept vehicle titles that do not have any outstanding claims or judgments against them since we place a lien on your title to secure the loan. The name on this document must match the name on your ID. If it doesn’t you will need to visit your local DMV to have it transferred.
• Vehicle — We accept cars, vans, and trucks. We do not accept modes of transport like boats, RVs, tractors, trailers, motorcycles, or ATVs.

5. Straightforward Repayment Process

Title loans are relatively simple to repay, regardless of whether you're paying it off 30 days from now or in installments. You'll be able to see your outstanding balance online at any point.

6. No Spending Restrictions

Some personal loans necessitate spending the money you borrow on specific things, like homes, cars, or home repairs. But you can spend title loan money however you like — funding medical bills, paying for veterinary treatment, or satisfying a higher-than-expected utility payment.

Of course, you should never borrow for no reason, so you should have an urgent need for the money to justify getting a loan!

Get A Title Loan from Idaho Title Loans, Inc. Today!

Title loans bring a lot of benefits, from no spending restrictions to easy processes. So, if you need to fund an emergency, give us a call or submit our online request form.

If you use the online form to get started, one of our loan representatives will call you soon after to walk you through the entire process. 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.