What Are The Benefits Of Getting Vehicle Title Loans For My Emergency?
Vehicle title loans can be a valuable financial resource, but only if you know how to use them. Here are some of the benefits of getting a loan through the vendors that work with At Home Title Loans.
First and foremost, vehicle title loans can help you cover emergency expenses when you have no other options. Those expenses might include medical bills, repairs, rent, utilities, or business travel. Vehicle title loans can also help you avoid stains on your credit caused by nonpayment.
There are numerous reasons to get a title loan in an emergency, but knowing how and when to get one is half the battle. In this article, we’ll highlight some of the reasons you might choose a title loan, how they can help, and how you can apply with one of our vendors as soon as today!
Vehicle Title Loans Explained
First, let’s briefly go over what a title loan is. In short, a title loan is a type of secured loan that uses your car title as collateral. The lender holds onto the title for the duration of the loan until you’ve finished making payments on it. Doing so greatly reduces risk for the lender, making secured loans like title loans much more accessible to borrowers with poor credit.
As long as you have no judgments against your vehicle, you’re in good standing to apply for a title loan.
The Benefits Of A Title Loan
Of course, not every situation calls for a title loan, and to understand the benefits, you should first understand the risks. In any non-emergency situation, you should not seek a title loan. Using them to fund large purchases, such as for a major appliance, isn’t wise and can be detrimental in the future. If you can’t afford it, you can’t afford it, plain and simple.
Similarly, you shouldn’t use a title loan when you can pool your resources and manage on your own. After all, title loans are a for-profit business model and need to make money on the interest generated by the loan. As such, you should only rely on them in emergency situations when you cannot handle the financial burden by yourself. With that caveat explained, here’s how a title loan—used correctly—can help:
- Tackling major emergencies
- Avoiding credit complications
- Providing peace of mind
Let’s take a closer look at each of these benefits.
Tackling Major Emergencies
The most apparent reason is that title loans help you deal with emergencies. If you’re stuck with high deductibles for medical bills or your insurance company balks at payment, you may be faced with a sudden emergency expense you can’t avoid or handle alone.
Taking out a title loan ensures you have the funds to make necessary repairs and see to your physical health. When it comes to pressing financial obligations, doing nothing simply isn’t an option, especially for situations that could become more expensive down the line.
Avoiding Credit Complications
You always want to avoid defaulting on your bills to prevent stains on your credit. Sometimes, the cost of a title loan is preferable to overdue fees or overspending on your account.
Providing Peace Of Mind
Lastly, when you’re stressing out about how you’re going to pay your bills or emergency expenses, title loans can offer peace of mind, allowing you to tackle those expenses upfront and manage your monthly payments on the loan in a simple, transparent format.
It’s difficult to overstate just how relieving it can be to have your emergency expenses simplified into one easy-to-manage payment.
Getting Started
To take out a loan with one of our vendors, you will first need to have the following items ready to go:
- Your driver’s license or state-issued ID
- Your lien-free vehicle title
- Your car itself for inspection
You’ll also need to be 18 or older to take out a loan.
The Straightforward Application Process
When you fill out the quick request form, At Homes Title Loans will automatically connect you to the best vendor based on your location and the information you’ve provided. From there, the lender will contact you to set up an in-person meeting and inspect your car and the required items.
If everything checks out, you may be approved for as much as $15,000 towards your emergency expenses and receive your money that day or the following business day.
Submit Your Inquiry Today!
Vehicle title loans can be a blessing when you need urgent cash for an emergency. Now that you know how to use them properly and the benefits they offer, you can rely on this financial resource with confidence if you own your car outright. If you’re ready to get started, fill out our quick request form with At Home Title Loans to get connected with the right vendor for your loan needs today!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
