How Auto Title Loans Help With An Emergency

Did you know that auto title loans can help you with an emergency? Finances are a source of anxiety for many people. You just never know when some sort of emergency is going to crop up that you can't afford to pay for even with your savings. What can you do when that situation happens? What is the best option? Well, auto title loans can be an option. They can get you the money you need, fast, and without much hassle. How can they do all of that for you? Well, let's find out.

Here’s How Auto Title Loans Can Help You With An Emergency

1. Your Emergency Won’t Have To Wait Till You Fix Your Credit To Get A Loan

When you get a loan from a bank, the most important indicator of your eligibility is your credit score. If it’s good enough, you’re a reliable borrower and have all chances to be approved. If not – don’t even try. But with auto title loans, it works differently. Your credit doesn’t play a major role, because your title serves as collateral.

These loans are worth considering in emergencies for several reasons. First of all, you can get an auto title loan fast. All you need is to own your car outright: if the title is in your name, you most likely qualify.

Because you are putting up something of value as collateral, you also don't have to worry about your credit score. Even someone with bad credit can qualify for auto title loans because collateral guarantees that the lender has something of value if the borrower isn't reliable.

bad credit is welcome for auto title loans

2. You’re Not Funding An Emergency At The Cost Of Your Car – You Get To Keep It!

With auto title loans, you don’t have to hand your car over to the lender until you pay the loan back. You still get to keep and use your vehicle for the duration of the loan. Though, like with any other type of loan, it is extremely important to avoid breaking the terms of the loan. If you don't plan to do that, this is not an issue.

3. Your Emergency Won’t Have To Wait Till You Gather Piles Of Paperwork

The only three things you need to provide the lender with are:

  • Your driver's license or state ID
  • A lien-free title to your vehicle (the title is in your name and has no loans or judgments)
  • Your vehicle

You should be an outright owner of your vehicle in order to take out a loan against it. If you are still paying off your car or if it legally belongs to someone else, you won't be able to get an auto title loan. The document proving your ownership is your title, and if your car is paid off, then your title is most likely lien-free.

4. Auto Title Loans Can Get You Several Thousand Dollars To Fund Your Emergency

With Missouri Title Loans, Inc., for instance, you can get auto title loans of up to $15,000. It's not hard to see how this could be beneficial if a financial emergency came up: $15,000 is usually enough to cover some unforeseen expense like medical bills or a car accident, and you can get it fairly easily.

The exact amount of your loan depends, primarily on the value of your vehicle which is judged based on a nationally-recognized official index. The condition of your vehicle will also be inspected. The better shape it is in, the more money you can get from a loan!

Getting An Auto Title Loan Through Missouri Title Loans, Inc.

If you feel that an auto title loan is necessary due to some unexpected financial complications, Missouri Title Loans, Inc. makes it quick and simple to acquire one. You can fill out an online application form on our website, after which one of our loan representatives will contact will you as soon as possible via phone to arrange a time and place to meet.

You will need the three things mentioned previously: your driver's license or state ID, the lien-free title to your vehicle, and the vehicle itself. Bring these things to your meeting with the loan representative, and they will inspect all of it to determine how much money you qualify for in your loan.

If you are approved, you will be able to receive your money either on the same or on the next business day. This makes such a loan worth looking into if you find yourself in a financial emergency where you need money fast! Just remember, loans are best used for emergency expenses you can't afford otherwise.

woman got an auto title loan

Get Your Auto Title Loan Today!

When emergencies strike, the least you want to do is to postpone dealing with them, otherwise, you’re running a risk of getting yourself into much bigger trouble. With auto title loans, you can avoid waiting and focus on solving urgent matters without any hassle. Contact Missouri Title Loans, Inc. today to find out how an auto title loan can help you overcome your emergency!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Mason Roberts

Mason Roberts is a seasoned economics writer and blogger with a knack for breaking down and simply communicating the ever-changing world of finance. He is philosophically committed to the premise that financial knowledge equals financial freedom.