Need some help rebuilding your finances? Sometimes a little boost in your funds can be the solution that works. But what if your credit score isn’t great or even good? A title loan could be the extra cash you need to rebuild your finances.
Not sure where to begin? Start with the experts at Max Cash® Title Loans! We make it easy to connect with title loan lenders all across the country.5 Keep reading below, to find out more about title loans to help you with your finances.
Rebuild Your Finances by Using a Title Loan to Pay Off Debt
Debt can come in all kinds of forms, including credit cards, or medical debt. And most people have more than one kind. One option is to pay off that debt with a loan, and then just focus on that single monthly payment. This is similar to refinancing a loan.
The idea behind this would be the get more flexibility with monthly payments and better interest rates, with the new loan.
For those who have a low credit score, their options to pay off their debt / refinance their existing debts can be difficult to find. However, with title loans, you don’t need to have a great credit history! Additionally, a title loan can be used for paying off existing loan debt.
Potentially Improve Your Credit with a Car Title Loan
Your payment history with any loan can reflect on your credit report. And so, after taking out a title loan, as long as you make on-time payments–once the loan is paid back it can have a positive impact on credit history.
Keep in mind, that these aren’t necessarily a credit repair tool, just something that could come with on-time repayment.
Rebuild Your Finances Using a Title Loan for Emergency Expenses
When you face an emergency expense it can make really throw off your financial stability, especially when trying to coast with a small amount of savings.
When you have an emergency, and just need some cash to get through without turning your finances upside down, a title loan could work.
Title loan funds can be used for a variety of different expenses. Here are a few examples of common emergencies that may come up, and that title loans can be used for:
- Medical emergencies and medical bills
- Personal expenses
- Car repair
- Rent or mortgage payments.
- Home repairs
- Credit card bills
- Utility bills
How Using a Title Loan Instead of Savings Can Help Rebuild Your Finances
Instead of using your savings for expenses or emergency financial situations, you may want to use a title loan. And so, instead of having to deplete your savings which is an important part of keeping your finances in check.
A title loan can make funding fast, and you never have to borrow more cash than you need. You can also use the cash to add to your savings if you need to.
Why Start with Max Cash Title Loans for an Auto Title Loan?
No matter the reason that you are looking for a title loan, start with the experts at Max Cash Title Loans! Here are some of the benefits that could come with Max Cash Title Loans and the title loan companies that we work with:
- Competitive interest rates — there interest rates for the loans that we service are highly competitive.4
- Low monthly payments4
- A transparent loan agreement
- A simple title loan application
- No prepayment penalties3
- Flexible eligibility even with bad credit history or a poor credit score
- Only borrow a loan amount that you need
- Flexibility with loan terms and loan payments4
What Do I Need for a Title Loan?
Eligibility for a title loan will depend on a few simple factors:
- The value of your vehicle (because title loans are secured loan, your car’s value is extremely important)
- Your income
- And your ability to repay a title loan
When it comes to the documents that a borrower will need, here is what you should have:
- State issued photo ID
- Proof of income
- Proof of residency
- The vehicle title
- 3 references
- Proof of car insurance
How Do I Get Started with a Title Loan?
Getting the application process started with Max Cash Title Loans, is extremely simple, here is how to start:
1) Apply online or over the phone– simply fill out a short application and a loan agent will reach out to you about the next steps.
2) Talk to a loan agent– next, a loan agent will reach out to you and ask you for more information about your vehicle.
3)Once a loan agent has some information, and the necessary documents, it will take up to an hour to process all the information.
4) Find out about loan approval, and other loan details if you are approved. If everything sounds good, go ahead and sign the loan agreement and get your funding!1 2 5
Title loans can be a useful tool when you need to rebuild your finances. Whether you need a boost for your savings, need to pay off debt, or are facing an emergency expense, a title loan could help.