Smart Ways To Use A Title Loan In Missouri To Manage Emergency Expenses

Title loans are short-term loans meant to provide quick cash when you need it most. However, because they are fast and easy to get, they're often misused by those who want extra money for shopping sprees, weddings, or vacations. You should only borrow title loans for necessary expenses.

This guide from Missouri Title Loans, Inc. explains how to use a title loan wisely, so you can make the most of it when your financial situation is less than ideal. It also reviews the approval process, showing how you can get a title loan for emergency expenses within one business day.

5 Smart Uses For Title Loans

Life loves to throw us curveballs that we don't see coming. While some such curveballs are blessings in disguise, others are simply a financial nuisance. However, a title loan can help you get back on your feet when facing an expense you cannot afford.

Here are five of the financial emergencies you can pay for with a title loan in Missouri:

1. Medical Bills

Whether you have health insurance or not, medical bills are notoriously high. Not only do some policies fail to cover certain conditions and treatments, but they may not cover your entire bill anyway, forcing you into unexpected debt. This is where title loans come in. 

By allowing you to borrow up to $15,000, you can cover all or part of large medical bills more easily, removing the financial stress from an already stressful situation.

The same can be said for dental work. Even the best dental health policies don't cover the cost of every type of dental work. Chipped teeth and emergency crowns can cost thousands, making title loans particularly useful.

The following are some of the medical expenses you can afford with title loans:

• Ambulatory and hospitalization costs
• Medication
• Surgical costs
• Physical therapy
• Drug rehabilitation

2. Home Repairs

From roof leaks during the rainy season to AC failures in summer and heater breakdowns in the cold, home repairs are unexpected but mostly unavoidable and often costly. Repairs for these issues can quickly amount to thousands of dollars that you might have to dip into your savings.

What if you don't have savings for such a disaster? Again, title loans can help. Once you get a quote from the repair company, you can apply to borrow that exact amount, making sure you don't borrow more than you need and easing the financial burden.

3. Veterinary Fees

In an ideal world, our furry friends would never need to visit the vet. In reality, they will require a visit at some point in their lives. While you'll do everything you can to make your pet feel better, there's no denying that veterinary costs are often extremely high. Because of this, many pet owners turn to title loans to get financial help when insurance coverage alone isn't sufficient.

Don’t delay when your pet needs medical care. With title loans, you can borrow money within one business day to cover your vet bills. Bring them in quickly for treatment before their condition worsens.

4. Auto Repairs

Most people who don’t work from home need dependable transportation. If your vehicle has problems, it can affect your ability to earn money and support your family. When you face serious car issues, you should fix them before your vehicle breaks down and becomes a hazard to you and others on the road.

Here are some auto repairs you can pay for with a title loan:

• Oil changes
• Brake work
• Tire rotations
• Battery replacement
• Engine tune-ups
• Transmission fluid service
• Fuel injector replacement

You might worry about getting a title loan if your vehicle needs repairs. Although you may receive less than the maximum amount with a damaged car, approval is still possible. Call one of our stores today to find out how much you can borrow with your vehicle.

5. Unexpected Travel Costs

There may be times when you have to travel quickly. You might need to visit a family member in another state for a medical emergency or attend a funeral. Covering costs like plane tickets, hotel stays, rental cars, and food can be expensive when there’s little time to plan.

This is where title loans come in handy. You can get approved for same-day cash in just a few simple steps. After receiving your money within one business day, you can start paying for all of your travel expenses to make sure you're there for your family emergency.

How To Use A Title Loan Wisely: Responsible Borrowing Tips

If you're facing any of the situations mentioned above and think a title loan is your best choice, remember these tips for responsible borrowing; they can help you avoid common mistakes with title loans. Borrowing responsibly is crucial to prevent falling into a debt spiral or worsening your financial situation.

The following are some of the ways to use a title loan wisely:

• Don't borrow more than you need — Title loans are meant for emergencies, not everyday expenses. Therefore, only borrow what you need to get through your current financial hardship.
• Understand the agreement — Don't sign the paperwork until you fully understand everything in it. The contract should clearly state what happens if you don’t repay the loan, how the lender expects to be repaid, and when the repayment is due.
• Have a plan — Before applying for the loan, know how you'll repay it. Think about how you'll recover the money and when it will be accessible. Title loans aren't always a good choice for people with unstable incomes.
• Talk to your lender — Don't take a "head in the sand" approach when you can't make a payment. Instead, communicate with your lender. Ignoring the situation will only make things worse..
• Repay promptly — Remember: title loans are short-term loans. So, you should aim to repay them as quickly as possible to restore your financial stability. Most borrowers repay their title loans within 30 days.

How To Get Title Loans For Emergency Expenses

Provided you use title loans responsibly and for smart reasons, you can secure a loan from us at Missouri Title Loans, Inc. We accept all credit situations and won't keep you waiting for hours upon hours during the application process.

We've simplified the process to ensure everyone can access funds when they need them most. You will need three required items: a driver’s license, a lien-free car title in your name, and your vehicle for a quick inspection. You must have fully paid off your vehicle to get verified. Approval is only granted to borrowers with a fully paid off car, truck, or van.

Here's how to get a title loan from us:

1. Complete the online application found on this website. We also offer installment loans, so be sure to check the loan type before submitting. You will need to provide your name, zip code, contact information, and vehicle details.
2. Wait for one of our loan representatives to contact you. Keep your phone nearby so you don't miss the call. We'll review everything you need to qualify for a title loan and explain the process before arranging a meeting location. You will need to visit one of our 16 Missouri store locations in cities like Kansas City, Springfield, or St. Louis.
3. Once you arrive, we will inspect your vehicle and documents to determine your qualification amount. If you're satisfied with the figure, we’ll proceed to the final stage of the process.
4. We'll assist you with completing the paperwork, including signing a few forms to confirm your agreement. Finally, you will receive the money you qualified for either on the same day or the next business day.

Borrow A Title Loan In Missouri – Borrow Up To $15,000 Today!

When you face emergency expenses, Missouri Title Loans, Inc. can assist with our title loans. Borrow money today based on your vehicle's value. As long as your vehicle is fully paid off, you can get approved today. Get started right now—fill out our online inquiry form, and we will call you to discuss the title loan process and how to get approved in person in less than 30 minutes.

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