subject: Use Your Title For Fast Cash [print this page] Before you sign on that dotted line, it's best to be clear about how auto title loans work and when they are most effective. In order to get car title loans, you need to be the legal owner of your car.
That is, you have to be entitled to your car. When you take out an auto loan, you basically put your car title up in exchange for money. What's beneficial about this option is that you still own the car, even though its title is on loan.
This also means you can still use the car during your loan period. This is a great money option for people looking for loans for bad credit. When you put your car title up, no credit check is run.
You don't have to put up any collateral either - the title of your car is enough.
Generally, you will have a set term to repay the loan when your car title loan is first issued. If you find you can't repay your car title loan on time, you can roll over the payment. There are 30 day interest free car title loans available with select companies.
Auto title loans are well suited for short term money needs such as medical expenses, tuition, payroll needs, utilities etc. If you find yourself in need of some quick cash and you own a car, car title loans are definitely something to look into. They are also a good option if you have bad credit. There is no credit check with a auto title loan so your credit score doesn't play in to the picture.
There are times when you have to make some urgent payment such as your rent or mortgage, utility bills, medical bills, cosmetic needs, tuition or school supplies, repairs to your car or home, legal fees, vacations, household needs and any other variation of emergent or urgent situation.
You might not have enough funds available to you. You want to apply for a loan that could offer you fast cash. But if you are not a salaried individual, you cannot even qualify for a payday cash advance for such money.
In such a situation, your car title can come to your rescue. There are several title lenders available online who are ready to offer you instant cash in the form of car title loan. A car title loan is an emergency loan that any car owner can qualify for.
However, lenders usually do not grant these loans to those car owners who already owe something to another car loan lender. Otherwise, you car title can get you the fast cash you urgently need.
You can get the money directly transferred to your bank account in just 24 hours or get a check within minutes and turn it in to fast cash.
There are obvious reasons why these title loans are so popular. After all, there is no other way that can help you get a loan that quickly. Most of the time, in such emergency cases, you do not even want to ask your friends and family to do you the favor because of the fear of rejection.
But, you will be glad to know that there is no such fear associated with title loans. All you need to have is a car and you can turn this precious asset into fast cash. Even people with bad credit can easily qualify for the same.
These loans were created for people who couldn't qualify, not wanted to, for a traditional loan. There are people with no, or bad, credit who can't get much money from their banks anyway. A word of caution however, it is smarter to use a title loan for emergencies instead of just fun things.
If you are truly in need of money, you may take this loan more seriously and have a higher chance of paying it back and keeping your car.
