Need Help Paying Rent?

May 28, 2012

If your rent payment is late, and you need cash for rent, you could soon face a serious problem. Some landlords act quickly on late rent payments and may request that you either pay or move out. If you need help paying rent because you can’t afford it, the landlord may even decide to initiate an eviction process, meaning that you could soon be out on the streets. With this in mind, you’ll need to quickly come up with some money, even take out a loan for rent just to keep a roof over your head.

In this situation where you need money to pay rent, you can go to a bank and try taking out a loan for rent, but doing so often takes day or even weeks to complete. In that time, you could end up facing legal issues or even be asked to leave your home. Thus, a bank loan may not work out well for you in this situation.

What Can You Do?

If you own a vehicle, you can take the title, a photo ID and a few other items and seek out a car or auto title loan from a qualified car title loan company. Instead of waiting for a bank to process a loan, you can apply for a car title loan from Car Cash Loans and get that rent money you need. Car Cash Loans is the best car title loan company when it comes to car title loans.

The process of obtaining a car or vehicle title loan is typically much faster than that of a traditional loan. In fact, Car Cash Loans will typically have you in and out in around an hour, allowing you to pay your rent on the same day.

Let’s take a look at an example of how this could work.

Example

Suppose that you have fallen 2 months behind on your rent in Los Angeles. Let’s assume that you pay $1,300 per month, meaning that you now owe $2,600. If your landlord has demanded that you either pay or move out, time is of the essence.

Now, let’s assume that you own a 2007 Honda Civic DX that is in good condition. According to Kelly Blue Book, this car is worth $9,731. You could take your title to Car Cash Loans and get a loan of up to 50 percent of this value, which comes out to approximately $4,865. That’s plenty of money to cover your rent and you could even use it to pay rent next month. Of course, you could also take out a loan of $2,600 – just enough to cover your late rent payments.

As you’ll typically get your money on the same day, the entire bill could be paid off and that problem would be behind you. Then, you can pay your loan back over a much longer time period, which will be much less stressful than the short timeframe that a late rent payment presents.

Should You Get a Car Title Loan?

Whether or not you get a car title loan depends on several factors. First, consider your credit history. If you have no credit or poor credit, then your options will be limited. A car title loan could work well for you, as Car Cash Loans will never run a credit check.

Next, consider the timeframe involved. If your landlord has notified you of a possible eviction, you may have to act very quickly to avoid this situation. Again, a car title loan could be very helpful, as you can have your bill paid on the same day that you apply for a loan in many cases.

Ultimately, the decision is up to you. It is a good idea to consider all of your options, but remember that a car title loan can be a great solution if you have credit issues or cannot wait for a traditional loan.