Deferred Maintenance Makes a Title Loan a Great Option
December 9, 2011
The saying is that deferred maintenance always costs more in the end. Every American has been faced with this choice. Your transmission needs to be repaired, or your check engine light has been on for a week now. The best thing to do would be to fix the problem as soon as possible. But what if you do not have the money? Car repairs are among the most costly expenditure with which Americans must deal on a regular basis. So, oftentimes, we defer maintenance against all of our better judgment. Then, of course, the problem escalates and we are now faced with an even larger and more costly problem. The difference is that now we do not have the option to defer. It has become an emergency and we must repair the problem now.
On top of the now urgent nature of the repair, consumers must choose where to have their repairs done. Should you go to the cheaper mechanic and save money, but always be waiting for the day your car just randomly breaks down on the freeway? Or should you shell out the extra cash to a more expensive repair shop in order to assuage your fears and ensure that your car will be properly repaired? These questions and decisions, too, can make a difference of hundreds of dollars on top of the average cost of the repair.
So, what can you do when you have deferred maintenance to the point at which you are faced with an extremely costly repair and a still unchanged poor financial position? How will you ever come up with hundreds, if not thousands, of dollars for this one repair? If you are faced with such a situation, it would be wise to consider a car title loan. A car title loan is a loan against the equity in your car. Car title loans are based on the simple idea that your car has value. You can use that value as collateral for a title loan. The benefits of getting a car title loan are numerous. Title loans offer an easy application process, easy, no-hassle approval, quick cash for those purchases that cannot wait, and the opportunity to get more value out of your car by using it to get a loan while continuing to drive it. The easy application process is evidenced by this short list of criteria that must be met. Loan applicants must provide only:
- The Certificate of Title as proof of their clear ownership of their vehicle
- A wholesale value of the vehicle which is adequate security for the loan as determined by the lender
- A valid government issued photo ID card
- Proof of income which is adequate to cover the monthly payments
- Proof of full coverage auto insurance that includes comprehensive and collision coverages
- Verifiable contact information
- A spare key
Compare that with the list of documents applicants for bank loans must provide, despite the fact that the chances of approval may be slim.
The primary reason for the ease of the car title loan application and approval process is the borrowers need not have good credit in order to qualify for a loan. Traditional banks are typically very fixated on the creditworthiness of potential borrowers, and whether or not these borrowers pose a default risk to the bank. This creates a real barrier for people whose credit scores are less than ideal, but who need a loan nonetheless. Therein lies the beauty and ease of a car title loan. As long as you can provide the information listed above, you are practically guaranteed approval for a car title loan. Again, if you compare this with the process of applying for a traditional bank loan and the uncertainty of the outcome, you will understand why a car title loan is a financing option welcomed by many borrowers and consumers.
The beauty of the ease of approval is compounded by the speed of the process. If you want a car title loan today, you can get one today. This is especially helpful in situations in which you need to pay for a car repair, or any other immediate purchase, today. If a car title loan sounds like the right financing option for you, please contact Car Cash Loans today. As an experienced title lender we can help you get your financing as quickly and easily as possible, without the hassle and uncertainty of a traditional bank loan. Because we know the business, we can work with you to structure your payments in a way that fits your earnings and expenditures . We will work with you to make sure your loan is paid back on time, or even early helping to lower your interest payments. If you are tired of gathering paperwork and jumping through hoops all to be refused a traditional bank loan in the end, then please contact our offices today. We can help you get the cash you need, hassle-free.