Pay For Home Renovations With a Car Title Loan
June 29, 2013
Whether your old home is falling apart or you just want an updated look, home renovations can make a house feel like new again. However, contractors and supplies aren’t free, meaning that you’ll have to come up with the money on your own to pay for renovations. If you have the money on hand – great! Otherwise, you may need to take out a personal loan for home improvement.
Have you thought about a car title loan for home improvement? You may have also heard of such a loan referred to as a title loan, u-drive loan or pink slip loan. You’ve probably seen a load of related television commercials, as well.
Basically, if you own a vehicle and can meet a few minimal requirements, you’ll be well on your way to securing a car title loan. Then, you can get the cash you need quickly. In fact, Car Cash Loans can have you in and out in around an hour.
So, how could a car title loan help pay for your home renovations?
Suppose that you’d like to upgrade your kitchen. A common cost for doing so is $15,000.
You probably have some money to contribute toward this. So, let’s say that you have $5,000 saved up that you can apply to your kitchen remodeling expenses. This leaves you needing $10,000 to pay for the rest.
Now, let’s assume that you cruise around Los Angeles (or wherever you live) in a 2009 Jeep Grand Cherokee SRT8. Let’s say that it has 30,000 miles on it and is in very good shape. According to Kelly Blue Book, this vehicle is worth over $34,000.
You could get an auto title loan on this vehicle for up to $17,000 – more than enough to cover the $10,000 you need to cover your remaining expenses. You could even pay for the entire kitchen upgrade with a car title loan.
Is it Difficult to Get a Car Title Loan?
Car title loans are generally easier to obtain than bank loans. At Car Cash Loans, you’ll never have to go through a credit check. It usually only takes around an hour to complete the entire process (including loans for home improvement with bad credit).
What Will Happen to My Vehicle?
Your vehicle will remain in your possession for the duration of the loan. Only the title is held by the lender – not the vehicle. This means that you’ll get to keep driving while you borrow the cash you need!
How Long Can I Take to Pay it Back?
Car Cash Loans offers terms of up to 5 years. This means that you could end up spreading your payments over a long period of time. So, while a car title loan can help you get your home renovated quickly, it doesn’t have to be paid back so fast!
Home renovations are not cheap, but you can still get them done. If you own a car, consider obtaining a vehicle title loan for home improvement. Your house will be in better shape and you can take your time paying for it. Hop in the car and give it a try!