Keep Enough Money in Your Checking Account With a Car Title Loan

March 30, 2014

Are you having trouble paying your bills? Have you had a check bounce recently or paid a hefty overdraft fee? If so, you may wonder where you can get enough money to prevent this from happening again.

You may not be aware of it, but the solution to your problems may be sitting outside your home. No, there isn’t a huge bag of money just sitting there, although that would be great! What I’m referring to is your vehicle.

Your vehicle can be used to get a loan. This doesn’t mean that you have to take on another set of payments for it, it just means that you can use it as collateral for a loan. How can you do this?

Consider a Car Title Loan

As mentioned, you may be able to get a loan if you own a vehicle. Basically, you’ll have to take the vehicle’s title to a title lender and the lender will assess the value of your vehicle. The lender may then offer you a loan based on the vehicle’s value. The process generally doesn’t take very long, meaning that you’ll get the quick cash that you need if you qualify. Sounds fairly simple, doesn’t it?

You won’t even have to go through a credit check if you visit Car Cash Loans. They’ll have you in and out in around an hour. That doesn’t just mean the first visit – that’s the entire process of filling out paperwork and getting your cash. It’s a much faster process than most banks offer and is usually much easier, as well.

What Will Happen if I Don’t Get a Loan?

If you choose to ignore your bounced checks or overdrafts, you could end up paying a high price for doing so.

Based on a study by the Federal Depository Insurance Company (FDIC), you could expect to pay 1,067 percent in interest on a 2-week checking account overdraft. I don’t know about you, but I’ve never heard of a loan with such high interest expenses. In other words, you’ll probably be much better off by taking a car title loan than by rolling the dice with your bank.

Also, if you don’t keep enough money in your checking account, you could fall behind on your bills. This could mean that you’ll owe late fees, have utilities turned off, be evicted from your home, be sued or even have your checking account cancelled. Your financial situation could spiral out of control if you don’t do something to fund your checking account, so consider a car title loan to avoid this situation.

Will I Have to Give Up My Car?

If you take out a car title loan at Car Cash Loans, you will get to keep your car. You’ll only have to hand over your title on a temporary basis, which acts as collateral for your loan.

So, you’ll get to drive your car around and get some much needed cash to keep your checking account from going under. You’ll take on 1 loan to avoid a financial mess with your bank, utility providers and/or other companies. It may not be ideal, but it could be the best solution to your current financial problems.