Need Money For Car Repairs?
May 26, 2012
If your car needs repairs, chances are, you’re not a mechanic, and you’re going to end up paying an arm and a leg. Not everyone has the financial resources to cover the high costs of auto repair and many will consider taking out loans to cover auto repair costs. However, if you plan to take out a loan for car repairs and apply for a traditional loan, you’ll typically have to wait days or even weeks to get a loan for car repair – if you can even qualify at all.
Instead, you may be able to get a car title loan. A car or vehicle title loan is based on your vehicle’s value. Basically, if you own a car or any other type of motorized vehicle and can meet some minimal requirements, you’ll be well on your way to getting a loan.
Why should you consider a car title loan to pay for your car repair loans and expenses?
Get a Loan Quickly
As mentioned, traditional loans (such as those from a bank) usually take days or weeks to process. However, car or auto title loans are often processed on the same day. In fact, Car Cash Loans usually processes loans in around an hour, meaning that you could get the cash you need, including loans for auto repair, during your lunch break. Thus, with a car title loan, car repair will be a breeze and you could have your car fixed before you would even get a traditional loan.
Flexible Repayment Terms
Whether you want to pay your loan back in a month or over several years, you can often do so with a car or auto title loan. This means that you can pay it back quickly or do so over time, allowing for flexible repayment terms that suit your financial situation.
No Credit Check
With the financial mess of the past few years, lending has been tighter. Banks and other traditional financial institutions have had stricter requirements than in previous times.
With a car title loan from Car Cash Loans, you will never have to go through a credit check. This is good news if you have no credit or poor credit, as it won’t hurt your chances of getting a loan.
Lender Doesn’t Have To Approve Of Your Reason
With some loans, the lender must approve of your reason for borrowing the loan. This could lead to a rejection of your application if the lender doesn’t approve of you getting your vehicle fixed.
With a car title loan, the lender typically won’t ask why you are borrowing the money. This is because your vehicle will be used as collateral, meaning that the lender has a backup plan in case you don’t pay. Note that you will keep your vehicle as long as you meet your loan requirements with a loan from Car Cash Loans, meaning that you can get the money you need and drive to the shop!
Pawn Loans Are Offered
If you are looking for a small loan, say, of just a few hundred dollars, you can do so through a pawn loan. This is different than a car title loan because, unlike with a car title loan, you’ll have to give temporary possession of your vehicle to the lender.
This would only be a good idea if you have a second vehicle to pawn. Still, if you have 2 vehicles, 1 can be pawned to get the cash you need to have the other fixed. So, the most that you’d go without a vehicle would be a few days, assuming that the auto repair shop fixes your vehicle within that timeframe.
Getting your vehicle fixed is likely a major priority. Without it, you may not have a reliable way to get to work, the grocery store or anywhere else that is important in your life. A car title loan can give you the cash you need without a long wait.