When you are short on cash, it can feel like there’s no real immediate solution to escape. Often, short-term cash investments and injections come with a massive long-term cost, which is naturally quite off-putting. If you want to avoid that problem, though, might we recommend that you consider car title loans instead?
Often repayable in two to three years, they offer you the kind of useful solution that you need to pay off your debts or invest as needed. Since it uses your car as the collateral, too, it’s easier to get involved with.
Car Title Loans Basics
For one, these form of loans are managed by using your car as the collateral. Whether you use your car or its equity is up to you. Either way, you get to tap into a rather wonderful means of getting access to the sum of money that you need. This could go towards anything from paying off old credit card bills to investing in a new business start-up that you wish to take off.
Most of the time, you will find that you can get a loan in the 70-85% region in terms of the car’ full value. So if the car was worth $1000, you could get anything from $700-850 worth of in investment. While it’s obviously likely that you are pushing for more than this, it’s the kind of example of how much value you could raise using your car as the basis.
Your car will usually be run through a value calculation program to help make sure that you can get good value. This allows for you to get a very impressive level of investment back and to ensure that you have enough in the bank to invest in whatever need you have.
Are Car Title Loans Hard to Get?
It depends. Most of the time, you will find that being eligible for car title loans is easier than it might first appear. Compared to a normal bank, a credit union or other normal forms of investment, car title loans are much easier to get. They are processed faster, take less work to get and require you to do far less work to get your hands on the loan itself.
However, they are usually much more effective in terms of value and the long-term cost to you than, say, a payday loan. Payday loans are often very costly, and this helps you to reduce the investment needed to take on that loan in the first place.
For that reason, then, it’s easy to see why so many people view car title loans as the ideal way to fund their business and their enterprise. Done right, this could give you all the help that you need to really take things to a new level.
So, if you are short on cash and shorter on options still, consider car title loans. They might just be the ideal solution to utterly transforming your financial portfolio in a very short space of time.