What is an Auto Title Loan?
Auto title loans provide you with enough money to cover many of your financial needs and they are a reliable source of emergency cash during times of financial desperation. Taking out a title loan involves temporarily exchanging your car’s title in return for cash from a lender.
The process begins with taking your car to the lender for evaluation, where you will be presented with an offered loan amount based on how much they feel your car is worth. If you decide to take the deal, you will be awarded an immediate sum of money in the form of a short term loan, and you may be able to continue to drive your car as long as you make loan repayments on time.
Your car’s title or pink slip will be returned to you once you have repaid the loan, plus interest, and you’ll have avoided financial disaster in the mean time. Ultimately, an automobile title loan is an effective way to attain money quickly, easily, and from a reliable source.
What Kind of People Get Title Loans?
All sorts of people have relied on car title loans to get them through troubling times, and for a variety of different reasons. However, many people tend to use title loans to make an immediate payment for something urgent which can’t be put off any longer.
Many who used title loans have already tried other loan alternatives, but found themselves unable to rely on other types of loans due to urgency, poor credit, or other complications. Fortunately, car title loans are one of the safest forms of no credit check loans available, and virtually everyone who owns a vehicle is eligible to receive one.
10 Top Reasons Why People Take Out Title Loans:
1. Medical Bills
Medical bills can be pricey, with or without insurance, and when people run into trouble making their payments on time, they face huge interest rate hikes, late fees and other financial penalties. If you’re faced with this kind of an emergency, then a vehicle title loan could help you come up with the cash you need to get by. One of the beauties of title loans is that they can deliver cash in less than an hour, so if you have an impending deadline, an auto title loan can get you the needed money straight away.
2. Student Loans
Student loans are grueling, haunting, annoying, and they just never seem to go away. Unfortunately, student loan companies are notorious for demanding payments regardless of your economic standing, and the penalties for missing payments can be extreme. Now that it’s impossible to discharge student loans via bankruptcy, missing payments enters you into a vicious cycle of ever-increasing interest rates, higher payments, and a greater likelihood of defaulting on your loan, but if you ever find yourself faced with student loan payments that you can’t afford, then a title loan could help you come up with the missing funds. Many individuals have put significant dents in their student loan debt, or even paid it off entirely, by relying on the money they received from affordable auto title loans.
3. Utility Bills
Has your financial situation gotten so severe that you can no longer pay your electricity, cable or water bills? Well keep the lights on and the water boiling with an effective auto title loan! As long as your car is either paid off in full, or nearly paid off, there’s a good chance you’ll be able to get approved for a title loan, and the nicer your car is, the more money you can get for it. Whatever the value of your car may be, when you’re raising money to pay the utilities, every little bit counts, so don’t delay!
4. Credit Card Debt
Perhaps you went a little overboard with your credit card spending or you were forced to take out a cash advance to cover an emergency cost? Whatever the reason may be, you can use an auto title loan to pay down or pay off outstanding credit card debt and avoid interest rate hikes or even bankruptcy proceedings. Credit card debt is the worst kind to have (especially due to the extreme interest rates applied to missed and late payments), so keep title loans in mind when faced with this situation, especially since they can often be attained without having to pass a credit check.
5. Rent Money
One of the scariest financial situations that anyone ever has to face is finding themself without enough money to cover the month’s rent payment. Without rent money, you risk being evicted and facing homelessness, which makes paying the rent a top financial priority for virtually everyone. If you do ever find yourself unable to cover rent, you may want to take out an auto title loan to prevent eviction or legal action being taken against you by your landlord. Of course, relying on a title loan to pay the rent will mean you end up owing more money down the line (due to interest), but if it keeps a roof over your head in the meantime then it just might be worth it.
6. The Holidays
The holidays can be an absolute nightmare for anyone who is financially struggling, and this is especially the case if you have young children that are expecting lavish meals and lots of gifts. Paying for the holidays may be a daunting challenge, or even seem impossible at times, but a title loan could provide you and your family with enough money to create the best holiday yet. Auto title loans have been used to help pay for holiday costs for years, even when they’re taken out at the last minute, since cash can be provided so quickly. If you come up short of money you need for gifts this next holiday season, remember that an auto title loan could save your Christmas!
7. Mortgage Payments
If you’re fortunate enough to be a homeowner, then you’re likely all-too-familiar with making monthly mortgage payments. But what do people do when the mortgage is due and there isn’t enough in the bank to cover it? Many have relied on auto title loans to cover the difference. Countless people have avoided defaulting on payments and escaped foreclosure by leveraging the value of their vehicles’ equity to take out a title loan. If you ever find yourself in the same situation, don’t forget that an auto title loan can help you keep your home.
8. Unemployment Issues
Currently, millions of Americans are unemployed, facing financial hardship and resorting to all sorts of ways to make ends meet. If you find yourself in dire financial straits, know that there are solutions to help cover your costs. If your severance package runs dry and your savings are dwindling, an auto title loan may be just what you need to save the day. Use a title loan to delay running out of money while you figure out a way to get yourself back to work.
9. Helping Someone Out
In this tough economic climate, you likely know several people, perhaps even immediate family members, who could do with some financial assistance. Maybe one of your relatives has recently been laid off or has medical bills they can’t afford to pay. If you want to help but can’t afford to with your current savings, then a title loan could loosen up your purse strings enough to help you extend a lending hand. Many people have used auto title loans to raise cash for friends or family members to help them get out of a tough financial spot.
10. Vacations
Have you had a really bad year? Need to get away from it all for a week or two, or even just for a day? If you answered yes, we’re guessing you’ve got a fantasy getaway vacation in mind. An auto title loan could help turn that daydream into reality by providing you with enough cash to send you wherever it is you’re desperate to visit. If you need a break, but don’t have the money, a car title loan could mean the difference between remaining at home and enjoying yourself on one heck of a holiday abroad.
Car Capital Financial, Inc
If you’re looking for a quick cash solution to your money problems, then an auto title loan could be just what you need. To arrange a top-notch car title loan in California, look no further than the experts at Car Capital Financial.
Car Capital has served Southern Californians now for over 17 years, providing safe, effective and affordable auto title loans. Title loans are issued based on your ability to repay the loan. Thousands of individuals have escaped financial pitfalls with the assistance of reliable car title loans, and in this tough economy, they’ve become one of the most reliable forms of financial assistance.
Call Car Capital Financial at 1-888-500-9887 to set up an evaluation for your vehicle today, and get on the path to financial freedom with an excellent no-credit check title loan of your own.