Find The Best Loan Option To Help Pay For Your Urgent Expenses
Taking out a title or installment loan can become a quick and easy way to deal with urgent expenses. But which lending option should you go for in your specific case?
Below, you will find a helpful guide to selecting a loan that would fit you. You’ll also discover a convenient list of all the items you'll need to apply for a loan with Missouri Title Loans, Inc.
What Loan Should You Get To Pay For Urgent Expenses?
When shopping around for a loan, it goes without saying that you first want to ensure the lender is a trustworthy service provider. Once you’ve found a reputable company that offers different lending options, how do you choose the one that's right for you?
Pay attention to these two main factors:
The Requirements
Let's take a quick look at the lender’s requirements:
- A driver's license or state-issued ID
- Lien-free vehicle title
- Your vehicle for inspection
To take out a title loan, you would have to own your car outright, and if you’re still making payments on your vehicle, such a lending option is not for you.
The Loan Amount
If you can quickly meet all the requirements mentioned above, then you can base your choice on the amount that might be offered. If you’re dealing with a relatively small financial emergency, and you’ll only need a few hundred bucks to cover it, putting your vehicle at risk might not make sense. Ultimately, you'll want to ensure you have a plan to repay the loan amount before you agree to the loan conditions.
What Loan Option Should You Consider?
Title Loan
If you have a lien-free title to your vehicle, then opting for a title loan might be the right decision for you in the case:
- You need to take care of a severe financial emergency that might cost you thousands (with a title loan, you might qualify for up to $15,000)
- For any reason, it would be challenging for you to provide proof of income or your bank account information
- You would prefer not to drive to the lender’s store (if you choose an online title loan, you will have the option of asking the verification agent to come to a location of your choice)
Installment Loan
You might decide to choose an installment loan over a title loan if:
- You don’t own a car outright
- You own your vehicle, but you don’t want to put it at risk
- You own a car, but it’s in terrible condition
- You don’t need too much cash to cover your urgent bills (with an installment loan, you can receive up to $1,500)
What Items Will You Need To Apply?
We at Missouri Title Loans, Inc. understand that nobody would want to spend days searching for the required documents when going through a financial crisis. That’s why we have made sure that the list of the items you would have to prepare is as short as possible.
To apply for a title loan, you’ll only need:
- Your driver’s license or state-issued ID to prove your identity and that you’re over 18
- A lien-free title to the vehicle with your name on it
- Your Vehicle
To take out an installment loan, make sure to bring in:
- Your driver’s license or state-issued ID
- Proof of income (for example, your most recent pay stub)
- A checking account statement in your name
Do You Have To Pay A Visit To The Store?
When applying for an installment loan, you will be asked to visit one of our convenience store locations to finalize the process. The good news is that the in-person meeting might take just 30 minutes.
You won't have to step into the store if you choose an online title loan. The verification agent will come to you to inspect your car and determine whether you qualify.
Can You Get Approved With Bad Credit?
A title loan is a secured loan, and the value and condition of your vehicle are the main factors that would be taken into consideration by the lender when determining whether you qualify for approval. We will check your credit before approving you for an installment loan, but a bad score won’t necessarily prevent you from qualifying.
Take Care Of Your Urgent Expenses Today!
If you’re facing a financial challenge, a title loan or an installment loan may become the magical wand to help you lift the weight off your shoulders. With Missouri Title Loans, Inc., you might get approved for up to $15,000 for a title loan or $1,500 for an installment loan in just half an hour.
You only need a few items to apply and can start the process online. We’ll help you choose the loan that’s the right fit for you! Complete a short form right now or call us directly, and we’ll try to put the cash in your pocket in the shortest timeframe.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.