Home Improvement Loan For a Garage

May 24, 2012

Whether you’d like to park your vehicle indoors, or you would like some extra storage space, a new garage renovation can be a great cost effective improvement to any home. However, considering the average cost of a garage remodel is thousands of dollars, coming up with the cash can be quite difficult, which makes loans for home improvement much more appealing. If you’re considering a home construction loan for renovations such as a garage remodel, you’d better closely examine the process and consider your best option.

“Alright. I’ll just go get a bank loan.”

If that’s what you’re thinking, consider that bank loans for home improvement are more difficult to obtain than they were in the past. With the economic mess of the past few years, credit has become tighter as financial institutions become more picky with their customers. Thus, if you have a credit score of less than 600, your chances of securing a home construction loan for a new garage are slim.

Consider a Car Title Loan for Home Renovation

Whether you need a loan to bridge the gap between your savings and the total bill or a home construction loan to pay for an entire new garage, a car title loan can be a viable solution. If you own a vehicle and can meet a few minimal requirements, you can secure an auto title loan through a car title loan company lender such as Car cash Loans.

Car title loans are generally processed faster than banks and can grant you a cash loan for your home improvement or other financial need. At Car Cash Loans, you’ll usually be in and out in around an hour. Try that at a bank!

The amount of a car title loan depends on the value of your vehicle. And Usually you’ll quality for up to fifty percent of the vehicle’s value (which is a common maximum loan amount).

One important note is that you won’t have to go through a credit check to secure a car title loan. Car Cash Loans will never check your credit.

Example

Suppose that you want a single-car garage added to your house. You can expect to pay $8,400 to $10,800 for the entire job.

Let’s assume that you own a 2009 Jeep Wrangler X with 25,000 miles on it. Also, let’s assume that you don’t actually drive it up rocky hills like they do with SUVs in television commercials, meaning that you have kept it in very good condition. According to Kelly Blue Book, this vehicle is worth $17,462.

You could take out a car or auto title loan for half of this vehicle’s value and get $8,731. That could even be enough to cover the entire cost of a new garage or other home remodeling project. As you may already have some money saved up, such a loan could be very beneficial to getting a new garage or other home renovation, and you may not even have to borrow the full available amount to do so.

Repayment

As with all loans, you’ll have to repay a car title loan. However, you can get convenient terms of up to 5 years at Car Cash Loans. This will allow you to spread your payments out and keep your monthly expenses down.

Of course, if you win the lottery or come across a few thousand dollars in some other fashion, you can pay the loan back earlier than that. Just remember that you can set up a convenient payment schedule that works for you.

Should You Get a Car Title Loan?

If you want a new garage or are considering loans for home improvement, a car title loan can be a great way to fund your home remodeling project. Instead of dealing with the hassles and red tape that bank loans often involve, an auto title loan can offer the cash you need much more easily.

After all, if you already sit in hours of traffic in Los Angeles (or any other big city), do you really want to hunt for a parking spot when you get home and end up parking two blocks away? We agree and feel your home is your castle, so treat yourself to something nice and enjoy your abode!