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SCHOLARSHIP ENTRIES

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We would like to Congratulate the 5 essays that made the finals. One however was disqualified for not meeting rules. We will judge this on the 4 remaining entries that did.

The students did a great job however there was some technical errors in what they were sayings. Car Title Loans is not 30 day loans but some companies do 30 day loans, most do not. Most do yearly.

The APR is different than the monthly interest rate. Car Title Loans can be as low as 32% APR (that’s annual) and be much higher; even over 100% APR. It depends on the risk the lender is assuming with the information provided by the consumer.

Students..don’t forget the next one is a few months away. Time to start writing the next one (and hint – read the above and do check out our how it works page to get more info!)

WINNER CHOSEN! Essay #2 is the official winner! Thomas from ASU-W.P. Carey School of Business won!



ENTRY #1:

Car title loans, though a very contentious subject, offer tremendous benefits to those in need of quick and easy cash to help cover important life expenses such as one’s education. I can attest to this statement from personal experience. In the past few years, I have received a few car title loans to finance my undergraduate education with the Arizona State University Online program. Without car title loans, I would have had tremendous difficulty paying for my tuition, but these loans have made the daunting task a reality. Just like taking difficult college classes, paying off my car title loans requires time management, hard work, and some innovation to be successful.

My name is Jesse Bloomberg. I live in a small, rural, blue-collar lake town known as Tichigan, Wisconsin. At 18 years old, I started training with the Tichigan Fire Department to join the squad and become a fireman: a dream I have had since I was in pre-school. Attending Arizona State University Online has enabled me to get a full undergraduate education in my degree of choice – criminal justice – while also fulfilling my dream of working full time with Tichigan. I’ve made life-long friends at Tichigan Fire Department and have had tremendously meaningful experiences helping those in need in Racine County in lower Wisconsin. I’m currently 20 years old and have been appointed the youngest Vice President of a fire department in the entire state of Wisconsin.

In order to get my education, I had to be able to afford it. At 18 years old, I did not have much resources for getting a loan approved. I did not have a credit history or a home that I owned. I did, however, have a four-door black Jeep Wrangler and a source of income from the fire department. That’s all I needed to get quick and easy cash to help pay for my first semester. I did some research and found a local title loan office that helped me out. I managed to get a significant amount of cash within 30 minutes, which included the time I spent sitting in the lobby.

To understand how I got my car title loan, it is essential to understand how it works. A lending institution gives the loan recipient cash up front in exchange for the title of his or her car, motorcycle, truck, etc. The loans are usually for a short period of time ranging from 30 days to a few months. All that was needed for me to provide was an application, proof of income, a photo identification, a picture of my car (however I showed the employee my car in person), a set of keys, and of course the title of the car. Once the agreement is signed, the loan recipient must repay the loan with his car title being collateral.

It was a 90-day loan that helped me pay my entire first semester. Car Title loans are incredibly convenient but come with serious risks if you do not pay them off in time such as additional fees and potentially losing your car. I set goals for myself on how I would accomplish this task. In addition to my income from the fire department, I took side jobs around the Tichigan area to help pay off my car title loan. From experience, I can assure how important it is to have extra money coming in to pay off one’s debts. The extra income made me successful in paying off my loans and instilled in me a significant sense of responsibility and pride in providing for my own education with hard work.

I would like to share some examples of the side-jobs I took in order to pay off my loan. The first was working at Kelly’s Bleachers, a hot, Saturday night drinking and live music spot in Milwaukee, Wisconsin. I worked as a bar-back, which entailed responsibilities such as bussing tables, checking ID’s at the door, reloading kegs, and breaking up the occasional fight. One Saturday night a, drunk patron was found urinating on my coworker Jim’s trucks outside in the front parking lot. This was despite the presence of the sign outside Kelly’s that literally reads “DO NOT URINATE ON ANY TRUCKS OR MOTORCYCLES IN THE PARKING LOT.” Jim was not only my coworker at Kelly’s Bleachers but is also a paramedic at Tichigan Fire Department. Jim approached the patron, maybe not the best idea at the time, and insisted the patron “urinate in a bathroom like a human being.” The patron responded by punching Jim in the face. A brawl ensued and I ran out to help break it up. Eventually, a police officer whom I knew personally from having attended many emergency calls on the job with him, succeeded in breaking the fight up. To this day, at the fire department, we laugh about how the patron was not arrested for aggravated assault against Jim but solely for public urination.

The next example of a side job I worked was significantly more difficult. I worked for a service called Miller Recovery. As mentioned earlier, Tichigan is a lake town. The vast majority of the residents live on or in close proximity to Wind Lake. During the winter, the lake freezes and ices over. Often times, various items belonging to residents fall through the ice. If they do not recover the item(s) within a period of a few days, the Department of Natural Resources (DNR) will fine the owner of the item up to $10,000. Miller Recovery is an ice recovery service that specializes in retrieving items that have fallen through ice into the lake. I worked with a team of guys, some of them highly trained divers certified to dive in the water and retrieve items. My job was to operate a motorized winch – a machine made to hook onto and haul up items from the depths of Tichigan Lake. During my experience with Miller Recovery, we recovered items such as tents, ATVs, heaters, fishing gear, and even beer kegs. The harsh nature of the job was the reason it provided very reasonable payment that was considerably helpful for paying off my loan.

While the jobs I worked are quite odd and not available to everyone getting a car title loan, I share them because the nature of these types of jobs are what make them valuable for providing extra to someone looking for extra cash to assist in paying off a debt. Working at Kelly’s provided me a minimum-wage job that turned out to be quite lucrative once tips got involved. Any job with tips gives the employee a means of making a good sum of money in one night’s worth of work. This helped a lot when it came to paying off my car title loan considering the loans are only for a short period of time.

Working at Miller Ice Recovery was also immensely helpful in getting extra cash to pay off my loan. Typically, manual labor jobs such as moving, cleaning, and landscaping pay very well considering the hard nature of the work. Like working in full-service, manual labor jobs can provide a substantial amount of cash in a short period of time.

My experience taking out a title loan has brought to light striking similarities between getting an education and paying off a loan. They both require goal setting to be successful. They also both require time-management and sometimes a lot of extra work to be successful and meet deadlines. Surprisingly, going through the experience of getting a loan approved has given me an introduction to finance that has been helpful in terms of my career. Some of my responsibilities as Vice President of Tichigan Fire Department include going over budgets for the year, signing checks, and meeting with town representatives to discuss topics related to funding. My title loan experience has given me financial insight that has made me better at my job.  In the past year, I received a job at a fire department for a large city known as Burlington, Wisconsin. There was a competitive applicant pool for the job and getting the position has been a major milestone in my career as a fire fighter.

I am a criminal justice major at Arizona State University Online. While I’m currently working as a fireman, I hope to join a local police academy when I turn 21 years of age. In order to be a police officer, I need a degree, and I believe criminal justice is the most pertinent area of study to succeed in a career in law enforcement. I am thankful to Tichigan Fire Department for the meaningful career they have provided me as well as to ASU for providing me an education. However, none of that would have been possible without the title loans I took out to finance my education. Car title loans offer an opportunity for people in difficult situations, without the proper requirements to get a bank loan approved, to get cash they need.


Winner Max Cash Title Loans

ENTRY #2: Submitted by Thomas who is attending ASU – W.P. Carey School of Business (Tempe Campus) won!

Throughout the past year you’ve heard people talk about scholarships, getting jobs and identifying how you will contribute to your tuition cost now that you have chosen to spread your wings and go to college.  As family encourages you to attend, you visit schools, fill out applications, apply for scholarships and hope for the best.  Then those offers come in the mail, schools that you never heard of throw some curve balls at you and now it is decision time.  With this decision comes the ever ugly question of, “How do we pay for this?” And the second question of, “If we choose the more costly option, where do we get the additional money to pay for it?”

As I faced those real questions and school registration became real, so did the reality of paying the bill. Perhaps I wouldn’t be in this position if I had sent out more scholarship applications.  But the reality is school is expensive and more common, mid class, working class, and really any citizen find themselves in similar situations.  So the family discussion turns into a scavenger hunt.  What can we barter, trade, or use as leverage to get some cash to pay for the child’s tuition?

Innovation and creativity are seen in your parents like you’ve never seen in your entire 18 years of living.  They have these crazy imaginations suggesting such things like, “Hey child, why don’t you start scanning the internet and become a secret shopper?”  Or they make comments like, “I know, our child can use his/her great social media skills and post advertisements for companies while earning extra cash by doing so!” My question is, “What has happened to my real parents?  Didn’t these people just tell me when I received my phone to stay away from scams of such nature?”  Then they get even crazier by suggesting their child work three summer jobs?  The thoughts keep rolling, ideas get crazier and other ideas come rolling forward.  For some reason, the discussion always comes back to the scavenger hunt for family assets.  What has value that someone might lend us money on and we’ll pay them back?  What has value that we can sell to others to bring in this much needed extra cash?

The conversation turns to car loans, boat loans and motorhome loans.  All those childhood memories you have are being suggested for sale or auction to the highest bidder.  It is then as a child you realize, not only are your parents crazy, but they seriously want you to better yourself by attending college and they are willing to sell anything or put anything under contract worth value to help pay tuition costs, book fees, meal plans, and all the other expenses college students face.  Well, almost anything; for the most part they are still protecting you and have not decided to auction you off!

So what are the options again?  Well the family decides they can sell various family assets to others.  Bam! Family heirlooms are now gone!  Maybe they can sell the assets to a close friend and hope in return once their financial position improves, the items can be bought back at a reasonable price. Neither of these options offer you certainty.  No need to worry, there is something called a title loan that gives you cash and allows you to retain ownership of family assets and heirlooms once the loan is paid in full.

The family sits down with a reputable title company called Max Cash.  You learn of different options, payment structures and alternatives to fit your cash needs and financial needs.  After reviewing the different options, you finalize the cash amount needed and you identify a payment plan to pay back Max Cash.  Remember, it is Max Cash, not free cash!  Money doesn’t grow on trees you know so yes, you must pay it back.  All is great and there is now a rainbow shining over the bridge that leads to college.

Then reality hits again.  You learn that your vehicle you drive, is no longer free and clear and comes with a higher price tag since mandatory insurance increases and so does the nagging from your parents reminding you to be safe and drive carefully since your vehicle is collateral. Your parents remind you the importance of protecting your vehicle, never mind the precious cargo inside!

School begins, work continues for your folks and yourself.  Payment coupons with reminder bills continue to come in the mail like clockwork throughout this thing we call life. Funny how their continuity continues despite the continuity of income and job security.  Occasionally that seemingly easy loan payment now becomes a struggle.  How do you continue moving forward and prevent yourself from falling behind?  It is again time for the family table gathering and let the brainstorming begin!

You have a vehicle, with a loan and the bills are piling up.  Is there a way to make income off your existing income or addition to your current job?  Well yes, you just need to be creative.  Ask yourself if you are wisely using your cash.  Are you spending out of need versus want?  How can you keep your job, balance school, and keep current on all your bills?

Now think about what you enjoy doing.  Most hobbies and skills can be turned into cash.  If you love gardening, sell that produce at work, school, local events and farmer’s markets.  If you weld, make metal flowers or yard decor, functional pieces and wall art.  If you play music, set up shop outside a local café or give the owner a quick audition and see if you can earn proceeds off meals sold during your performance time.  What about arts and crafts?  People love homemade gifts and goodies.  Baked goods like brownies, jam, pies, breads and fudge sell out all the time!

Many people don’t think about turning their talents into cash but when faced with hard times, desperate times call for desperate measures.  In reality, they are not really desperate measures, just simply thinking outside the box! Love swimming? Give swim lessons and advertise at the local preschools or daycares.  If you are good at math, be a math tutor.  Advertise with local schools or particular math classes.  I think you get the idea. Use your skills and mind to earn additional cash to help yourself pay off your loans and get yourself out of debt.

In our local community, many people offer various services to earn additional cash.  Growing services of interest to busy people are pet walkers, house sitters, pet groomers, babysitters, before and after school nanny, weekend nanny service for working parents so they can have some free time.  Yard services such as mowing, raking leaves, and pulling weeds are always needed – especially in sub divisions where home owner associations require a well-maintained yard.  Think about unique services around the holidays such as decorating, baking, shopping and helping to prepare for large families or group gatherings.

Where there is a will, there is a way.  Unfortunately too many people give up on their dreams too easily.  The one thing that any hard working individual will tell you is that in the long run, not only did their hard work and dedication pay off, but their sense of self pride and self-confidence continues to grow and help them in more ways than they realize.

As you reflect back on your accomplishment you need to give yourself a pat on the back.  Not only did you succeed, but you are able to maintain and keep that precious family asset within the family. You see, the beauty of a title loan is that you have options that allow you to keep your precious assets and get money for life’s events.  Knowing you can keep the family RV, boat and car for generations to come is in itself a relief.  Hallelujah, more stories and family memories to be made!

The needs for Title loans are endless.  For some it may be college tuition, for others it might be repairs and maintenance, buying costly medical equipment for an aging parent, paying bills, or paying for family needs.  Needing cash and obtaining these types of loans can be more difficult since they are uncollateralized and impose a greater risk to the lender.

What people do not realize is that uncollateralized debt is the worst kind of debt to have.  MaxCash allows you to control the situation by offering the borrower cash for a tangible asset.  Now think back to the beginning.  Listening to the family crisis discussion and choosing a precious asset to pledge as collateral really wasn’t so crazy after all!  Offering the family assets in exchange for a title loan can offer a big advantage and reduces lending risks which in turn helps someone build or maintain credit.  Again, all these wonderful things can happen thanks to title loans offered from Max Cash.  A cash option that helps you keep moving forward throughout life’s obstacles.


ENTRY #3:

A car title loan is a loan in which money is borrowed against the value of your vehicle. The car title loan company will lend money to a person, based on the value of their car and will use the car as collateral for the loan. Usually, the loan needs to be paid in a short amount of time, such as 30 days. Interest is applied to the loan amount and added on to the amount of the loan.

 

A car title loan can be a good option for someone who needs access to money immediately. Sometimes emergencies happen and you don’t have the time to go through the loan process at a financial institution. Most times, an applicant can be approved and receive the funds on the same day as applying. This is a much faster process than what you would expect at a typical bank. However, even though this is a great option for quick money, problems can arise for someone who cannot afford the payment for the loan once the interest has been applied, therefore putting themselves at risk for defaulting on the loan and subsequently losing ownership of their car to the loan company. Car title loans use a person’s title to their car as collateral for the loan, and can take ownership of the car if the person defaults on the loan. Today we are going to offer three tips that can help assure a potential car title loan customer that they are benefiting from a car title loan, and to avoid putting themselves at risk of the negative consequences of defaulting on these loans.

 

First, only consider a car title loan if you do not have other options available to you that come with better interest rates. Car title loans can be a great option for someone who needs money right away, but it might otherwise be better for you to get a loan from a lender with lower interest rate and better terms. The high interest rates that often come with a car title loan can make them tough to pay when the term is up, which is usually within 30 days of receiving the money. At a bank, you most likely would receive a much lower interest rate and would have the option to make monthly payments until the loan is paid off. Many times, rates for a car title loan are higher than an equivalent loan from a bank and they are required to be paid back in a short amount of time. A typical loan from a bank, depending on your credit, could be in the ballpark of a 6% to a 20% interest rate. In comparison, many times a car title loan is higher than this, and can even approach 50% interest or higher. Rates for loans can vary greatly, and the terms of the rates can vary greatly as well. You should talk with your loan provider and carefully examine the interest rates and terms of the loan before signing any contract. Also, keep in mind which state you live in. Some states do set laws on interest rates for these loans, so it’s a good idea to check the laws in your state.

 

If you cannot obtain a loan from a bank or truly need the money right away (even the same day), a car title loan may be a good fit. Sometimes, emergencies happen in life, and you don’t have the time to wait for the loan process to go through at a bank. Sometimes this process can take anywhere from a couple days to a week or longer. You also may not be approved for a loan unless you have good credit. In the case of a car title loan, many times you can walk away with money in hand the same day. Also, if you have bad credit, you may still qualify for a car title loan even if you do not qualify for a loan from your bank. Because you are using your car as collateral, this gives the loan company some assurance that you will pay the loan off instead of risking the loss of your vehicle. Usually, you can borrow any amount up to the value of your car. This makes it a good option for people who need a certain amount of money in a very short time, and maybe one of the only options for someone who doesn’t have excellent credit.

 

I want to add here that it’s a good idea to consider all your options for loans before applying for any of them. Each application for a loan will affect your credit score. Every time you apply for a loan, a credit check is run in your name. Each time this happens, it may lower your credit score. If you are approved for the loan, and successfully make your monthly payments, it won’t take long to get your number back up to where it was, and even to improve upon it by making good on the loan. However, just keep in mind when applying for loans that this does affect your credit, and with each attempt at applying for a loan, your credit score may drop and make it more difficult to be approved for a loan in the future.

 

Second, it’s important to only take out a loan that will have a payoff amount that is affordable to you. It might be great to have access to a bunch of cash right away, but if you can’t pay it off at the end of the term, you risk defaulting on your loan and ending up in an even worse financial situation than you were before the loan.  Therefore, consider all your financial responsibilities and the terms of the loan (how much will be due with interest and when the payoff date is), and then make a decision that is right for you.  If you take out a loan with a payoff that you cannot afford based on your current income, you will most likely not be able to afford the payoff required, and therefore risk defaulting on the loan, which will, most likely, result in losing ownership of your car to the car title loan company. Usually it’s best to only take a loan for the minimal amount of cash that you need at the time and to make sure that you will be able to pay it off at the time that is required by the terms of the loan.

 

Third, get creative with supplemental income during the term of the loan to help assure that you will have the extra income needed to pay the loan off.  Sometimes, getting a quick car title loan can be great for bailing you out of a jam, or helping you to move quickly on a financial opportunity. Once the payoff is required however, and the interest is applied to the loan, it may be significantly higher than you would expect if you didn’t consider it beforehand. This is where you might have to work a little harder and get a little creative to help cover this extra expense. No matter what your regular job is, consider taking up a flexible, part-time job to help cover the new expense. Sometimes a part-time or evening job will be enough to cover the payment. Also, consider the fact you can keep and use your car for personal and financial use during the entirety of the loan. Perhaps, you can utilize it even more for financial purposes outside of going to your regular job. For instance, driving for a rideshare company such as Uber or Lyft might be a great option for you, as you can log on whenever you want to earn supplemental income. It usually doesn’t take long to get approved to work, which is important if you only have a short-term loan, such as 30 days. You can work nights or rush hour to earn even more. In other words, you will be able to use your car to borrow the money that you need, and simultaneously are able to continue to use that car to earn yourself a profit. It can be a win-win! Not only that, but you might be able to deduct the mileage you use while driving for a rideshare from your taxes (talk to a tax professional in your state for exact details regarding tax deductions related to rideshare companies). In today’s market, there are plenty of options for flexible income and taking some time to find one that works for you could pay dividends.

 

In conclusion, I hope these three tips are helpful to you as you consider taking out a car title loan. Again, these can be great options for the right person in the right situation. However, they should be considered with caution and with the knowledge that you will lose ownership of your vehicle if you become delinquent on the loan. You do not want to put yourself in a worse financial situation than you were before the loan. If you lose your vehicle, it hurts your chances of finding and maintaining employment. It also hurts your credit significantly to default on a loan, and you may have a lot of trouble being approved for another one in the future. There are also many other negative consequences to bad credit. In the end, it is up to you to consider your options and make the best financial decision for your situation.


ENTRY #4: (DISQUALIFIED BECAUSE IT IS LESS THAN 1500 WORDS AS REQUIRED)

At only 22 years old, I am on my 6th car that I have purchased, the only difference with this one though, is this time I have a car loan for it. Starting in high school I purchased my first car off of craigslist for $2,500 cash, but within a year that car started to have issues. I ended up having to resell it on craigslist and just repeated this process 4 more times before I found myself with a 2003 E320 Mercedes Benz I had purchased for $6,500 cash. This Benz was my dream car, but of course within a year it had some air shock problems and other issues that quoted over $5,000 in repairs. I decided that at that point in my life, at 20 years old, that it was time for me to get something nice, new, and with less than 150,000 miles on it like my previous cars I had. I went to the dealership down the street in Scottsdale to purchase a 2014 Mustang that I had already picked out online.

Getting a car loan and purchasing that Mustang has been the biggest purchase and expensive I have ever had in my life so far. It is a huge responsibility to make that long of commitment to a lot of money that is going to be paid off in the end. The biggest issue I encountered while getting this car loan was my lack of credit history and no co-signer to help bring my interest rate down. My parents had refused to help co-sign for a loan to help me because of the big expense they are worried about someday having to take on and because of my older brother failing with his car loan they had previously co-signed on. I found myself locked into the lowest rate that I could possibly negotiate at the time without walking out the door. The rate I was eventually given was a 5.99% APR. Which is a fairly high APR %, but given my circumstances and situation I was in I had to do it. Having $235 taken out of my account just for my car every month does require some kind of extra income to subsidize for it. I found this extra income through selling items and merchandise I was able to obtain from clients around the valley and through public government surplus auctions. Having some other type of income other than the everyday 9-5 job is so key to staying financially healthy and secure. Just selling 5-10 items a month with a profit margin of $40-$50 each completely takes care of my car loan expense every month and usually the car insurance and gas. This frees up so much more extra income to pay off other debts, and even work more part time to accommodate for school.

With 4 more years left on my 6 year car loan, I am planning on refinancing very soon now that I have a decent amount of credit history and have made all of my payments on time for it. I also want to try and pay off the rest of this car loan in less than the 4 years remaining to help cut down and save even more on the high interest rate I am locked in at currently. My advice to college students looking to take out a car loan, is to really examine all of the other options before borrowing a lot of money like that, especially if you have no co-signer to help. Looking back now at how much interest I have had to pay on top of the loan, and with the dealership taxes and everything extra that comes with getting a car loan has opened my eyes up to finding alternatives before making that decision to borrow. At the time I needed a vehicle that was reliable and covered under anything since the previous 5 cars had problems. I didn’t take into account the full amount that I was about to borrow and the responsibility that comes with having to always pay that debt off every month. I would only recommend a car loan to someone who has exhausted all of the other options available, and is need of a loan that badly. If a loan is the only option for you, then the best thing to do is to plan ahead what these payments really are going to be like and form a budget to account for it. The last thing you want is a car loan that makes such a dramatic change in what you are used to in expenses every month that you find yourself working full time every month and barley getting by. Also have money saved up in advance for at least the first 3-6 payments, so that you know that if a month or two don’t go your way financially, you still have a cushion for the huge loan and responsibility you are about to take on.


ENTRY #5:

The Benefits of Car Title Loans

We have all been there, in between paychecks, mortgage overdue, unforeseen automobile expenses… but what can we do?  Well, you can get a loan from your bank or possibly dip into the line of credit you have.  This is what I would have done in the past.  Several years ago, I had a line of credit that I could use for those unforeseen expenses and pay them back with a few paychecks.  Qualifying for a loan, if necessary, was not a problem for me… once upon a time.  That is not the case for me and my family today, nor is it the case for many other families across the Nation.  My husband and I both used to have full-time, well-paying jobs… we wanted for nothing and life was good.  In 2009, my husband was laid off from his job, when I was eight months pregnant with our second child, and out of work for the first time in our marriage.  After no luck with countless employment searches, we made a decision together, that he would go back to school.  Our hopes were that a college degree would increase his chances to secure a job.  Though this put us into debt even further, we felt it was a necessity with the economy the way it was, including the significant amount of educated and highly qualified individuals applying for the same jobs.  Without a degree, his resumes were not even considered.  About one year after my husband was laid off, my company went out of business too.  This was a shock to the system as I was with them for over ten years.  Like many others, I too was forced to look for work, taking a position that involved a pretty hefty pay-cut.  Consequently, down to the one income and the reduction of pay, we were not able to keep up our bills, which in turn led to bad credit and an inability to keep our line of credit or secure future loans.  This was a burden that we had never experienced before, but what could we do?  A Car Title Loan was an option that we had never thought of before, but after some research, found that it is a secure and cost-effective option.

We have found that one of the best options out there to getting the funds you need, and not digging a deeper hole, is a Car Title Loan.  You do not have to “qualify” for the loan.  The only thing required is that you own a vehicle to use as collateral for the loan.  This is part of what is so beautiful about a Car Title Loan and the reason you are not “digging a deeper hole”.  Because the loan is backed by your vehicle, they do not have to charge astronomical fees in interest to secure the loan, and this is a savings to us, the consumer.  This is why a Car Title Loan is so affordable!  In addition, there are no lengthy credit checks and the vehicle title is all that is used as collateral, so the process is very quick.  This helps expedite the process so you do not have to wait a long period of time to receive the funds.  More importantly, even though the vehicle title is used as collateral, you are still able to use your car while you are paying off the loan, and will receive the title when the loan is paid off.  Most of all, the repayment plans are affordable and they work with you offering different payment options to choose from.  There are many ways to stretch your current income to repay the loan, and even ways to earn a little extra money on the side.

One of the biggest ways that I have found to increase our available cash, without a lot of extra effort, is to reduce or even eliminate waste.  There are so many ways to eliminate waste, and the first is to start with food.  I know it may seem comical, but using a measuring cup while serving some foods, such as for cereal and milk, can save money.  I cannot tell you how many times I have poured out milk and wasted cereal because of overpours.  Eventually each child, or adult, will learn how much cereal and milk they will need, as each individual will require more or less, and be able to adjust accordingly.  You can do this with other items that you feel there is too much waste with.

The next money saving trick is to make several shopping trips to the store throughout the week.  I used to add to long lists pinned up by a magnet on my refrigerator as we ran out of food, then tried to hit the grocery store as few times as possible.  The reason I did not want to frequent the grocery store was because it was usually busy and not a lot of fun to go with three small children.  You often end up leaving way more stressed than when you arrived, and with a lot more groceries than you planned on purchasing.  For me this was because I wanted to make sure I got “everything” so that I did not have to return anytime soon.  Then, adding to the frustration, you now need to put all of the groceries away, while attempting to make dinner at the same time.  By planning smaller trips throughout the week, you buy just what you need, saving both time and money.  Additionally, what I have found even more cost saving is free online grocery ordering and store pickup.  Walmart is one of the grocery stores that offers free online ordering and pickup.  All that you need to do is log onto their website, and do your shopping from the convenience of your own home.  This alone is enticing, but most importantly, this reduces impulse buying and reduces your stress and frustration as well.  In addition to gathering your groceries, they pack them up, keep them cold, and deliver it right to your car in a special pickup area just for online orders… again for free, without having to even step out of your car.  This can save a lot of money for those that do not already use this service.  Many other grocery stores are now doing this as well, and Amazon even delivers pantry, frozen, and cold items right to your door.  These are all ways that you could easily earn money towards paying back a Car Title Loan.

Selling little odds and ends around your home that you do not need can really earn you quite a bit of extra money as well.  You wouldn’t really think so, but it is easier today than it ever has been.  Whether it’s going through your closet, garage, or even creating some cool crafty items and putting them out there to sell, there are so many ways to do it.  They now have apps for your smart phone and tons of user-friendly websites that make it so easy.  All you need to do is snap a picture, throw in a description, and a price, then submit… you’re done.  Any interested parties will be able to contact you directly via text, phone, or e-mail.  Some of the larger companies that offer this are eBay, of course, Amazon and Craigslist, just to name a few.  There also many smart phone apps available now, such as Letgo, Offer Up, Gone.  With these applications, you list what you want to “let go”, allowing interested parties that live near you to contact you and purchase items of interest that you have listed.  If you belong to a Home Owners Association, they often have community sites to post item for sale, as well as host community garage sales.  Facebook is now getting into this type of service and has several groups to buy and sell on their site.  These are all very simple ways to post unwanted items and earn additional income, without much effort.  If you think about all of the stuff that have that have been sitting in boxes, stuffed away because you are not quite ready to get rid of it, or don’t think you “have the time” to go through your “stuff”… just post it!  Think of the amount of space those items have taken up.  Take your monthly mortgage or rent, then take the square footage of your home and calculate how much you actually pay per square foot for your home.  Add up the amount of space that all of that “stuff” takes up, then multiply it by twelve.  You may be alarmed by the number you get, but having excess junk really does cost a lot of money.  Getting rid of what you don’t need is an easy way to assist in paying off your Car Title Loan.

As a wife, a husband, a parent, significant other, or whoever your immediate family consists of… you can put your heads together and come up with a plan that everyone can get involved in.  Especially if you have children, giving them the responsibility of being involved in decisions to better your home and family, is quite rewarding for them.  By involving them, you make them feel confident, like they are a big and important part in your family, which they are.  This also helps to teach them the importance of money and savings, which is an invaluable skill that help cement good behaviors as they grow.  Together you can decide what you need to do as a family to save money, what you can live with, and what you can live without.  Work together as a unit, keep trudging along putting one foot in front of the other, and do the next right thing.  When you need a loan, it is very reassuring to know that, when some options don’t work, that there are other options out there that are reasonable and affordable, like a Car Title Loan.