How A Title Loan Can Be A Fast And Reliable Option For Urgent Expenses
Getting a title loan from Idaho Title Loans, Inc. can provide a way to handle emergency expenses when you’re struggling to find the funds. When unexpected bills hit, it’s easy for your budget to get thrown off balance, and you may find that you can’t cover all your costs. That’s a frustrating situation to be in, but a title loan may be able to help you solve it.
Title loans are both quick and reliable, and they can help you access a good sum of cash, so they are worth considering if you need funds urgently. Let’s check out some facts about them.
Why Are Title Loans Helpful In Emergencies?
Have you ever found yourself in a situation where you need money urgently and have nowhere to turn? If so, you may have considered taking out a title loan. A title loan is a type of secured loan that uses your vehicle title as collateral. It can be a lifesaver in emergencies, as it offers you several benefits.
Reason 1: They Are Fast
One of the things that makes title loans particularly good in an urgent situation is that they are fast. Many traditional bank loans take a long time to clear, but a title loan doesn’t; in fact, applying is very quick for most people. If you are approved for a loan, we make a point of transferring the funds to your account within two business days.
Sometimes, when you’ve got emergency bills piling up, speed is the most important thing, and you can’t wait for other loans to come in, or to get money from other sources. Here, a title loan could be a reasonable option for you.
Reason 2: Many People Are Eligible
Another reason that title loans are viable in emergencies is that a lot of people are eligible for them. They don’t have stringent criteria in order to get one.
There are generally only three boxes to tick: you must be the registered owner of the vehicle, you must be able to prove your identity, and you must have a lien-free title. That means that you don’t need to pass complicated background checks, and a lot more people are eligible for title loans as a result.
Reason 3: They Don’t Require Lots Of Paperwork
As well as having low eligibility criteria, title loans don’t require reams of documentation. Forget needing to provide years’ worth of bank statements, piles of pay stubs, or other evidence. If you have some state-issued, photograph identification that is current and valid, as well as the title of the vehicle you are using as collateral, you may be eligible for one of these loans today.
Bear in mind that the vehicle must be in your name, so if it’s currently registered to somebody else, you will need to get the title transferred before proceeding. We know that if you’re dealing with urgent expenses and other emergencies, and digging up paperwork is frustrating, so we’ve made it as quick and easy as possible.
What Happens To My Car?
If approved, you will retain full use of your vehicle for the duration of the loan, provided you meet the repayment schedule that’s agreed upon when you take out the loan. That means you can use your car to drive to work, run errands, etc., which is why this is an attractive option for many who are struggling financially. Especially when taking out a title loan is preferable to selling your car outright for many individuals.
If you’re dependent on your car to get to work, selling it isn’t an option when you’ve got urgent expenses to handle, but that doesn’t mean the value of the vehicle is locked up and inaccessible. A title loan allows you access to some of the value without having to part with the car.
Remember, like any other loan, it is important to stay current on your repayment, so you should account for this and create a budget before you take out a title loan. If you’ve got any questions about this, you can speak to one of our agents at any time, either before you take out the loan or afterward.
Reach Out To Us Now
Dealing with urgent expenses is never fun, but if you need a fast cash option to tackle your bills, a title loan from Idaho Title Loans, Inc. may be a viable solution. Title loans can provide you with a lump sum of fast cash, allowing you to take care of all kinds of emergencies, including medical bills, vet fees, utility costs, or home repairs.
If you could use some extra funds in your account and you have an eligible vehicle, you can reach out to us today and our agents will be glad to answer your questions. To get started use the quick and easy online form, and you might be able to get up to as much as $15,000 if you have a valuable car in good condition. To learn more, get in touch now.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.