Are There Really Advantages Of A Title Loan?
If you’ve never had to deal with using your vehicle’s title as collateral for a loan, you probably don’t know of the advantages of a title loan. Besides the obvious advantage of helping you with emergency situations, this kind of loan from us at Cash Cow comes with more advantages you need to know about. Knowing these can really help you decide if this kind of loan would actually help you out. So, if you are ready to get started, here are five title loan advantages you should know.
Here Are The Top 5 Advantages Of A Title Loan
1. You Don't Need A Good Credit Score
People that have dealt with banks or other financial institutions know how difficult it could be to get a loan with bad credit. Traditional loans require an almost perfect credit score before they even consider lending to you. However, one of the advantages of a title loan is that this isn’t the case with us at Cash Cow. Even if you have a poor credit score, you can still check to see if you qualify for approval. While approval isn’t guaranteed, we won’t automatically disqualify you if you have poor credit.
2. They Can Fund Emergency Situations With Ease
As we said in the beginning, being able to fund an emergency quickly with a title loan is a big advantage. With us at Cash Cow, if we are able to approve you, you can receive the money you need either later that same day or the next bank business day. This allows you to quickly address your emergency before it gets worse. And if you are wondering, the most common scenarios that title loans can help with are as follows:
- Funding urgent travel costs — Everybody loves a vacation. However, it quickly becomes the most stressful ordeal when an emergency arrives at home, requiring you to get the next flight back. Therefore, you can get a title loan to cover the same-day ticket to come home.
- Paying for medical bills — Emergency medical attention is expensive, even with a high-quality health insurance plan. Sometimes, your treatment won't be covered, or you can't afford to pay the deductible out-of-pocket. Thus, you can use title loans to help lower those costs.
- Covering veterinary fees — Out-of-hours veterinary care is essential but pricey. And if your pet needs surgery or medication, that is even more expensive than a regular veterinary check. Many people use title loans to fund the otherwise unattainable costs.
- Covering home repairs due to a bad storm — Leaky roofs, broken windowpanes, and water damage are all time-sensitive and costly problems. While you should always try to use an emergency fund, title loans can let you address these emergency repairs quickly.
3. The Process Is Straightforward
Loans from banks or other financial institutions are associated with having complicated processes and long wait times. However, we here at Cash Cow try to make our title loan process as simple as possible. We want to make sure you know what you need to get through the process so we can let you know if you qualify for approval. In fact, our in-person process can take a minimum of 30 minutes to complete – and by the end, you will know if you are approved and how much we can lend out.
4. You Can Keep Your Vehicle While Repaying the Loan
Contrary to what you may think, you don't have to stop using your vehicle while you repay the loan. This is another big thing when you think about the advantages of a title loan. We are using your vehicle’s lien-free title as the collateral, not the vehicle itself. This means you are free to use your vehicle as you see fit while you repay the loan. Just make sure to stick to your repayment plan, and your car will never leave your side.
5. The Requirements Are Easy to Meet
The last advantage is our easy and short required items list. We make sure to keep our list of required items short so that you can remember to bring everything. Plus, the items we do require you to bring in are all simple items to gather. In fact, chances are you already have all of these items with you already! All you need is your driver’s license or state-issued photo ID, your lien-free vehicle title in your name, and the vehicle for a quick inspection.
Here Is The Process To Get A Title Loan
If you're in the middle of financial hardship, understanding how to get a title loan can be the difference between moving on with your life and staying stressed. Even though you know the advantages of a title loan, you've yet to dive deep into the process. Luckily, we've detailed our simple step-by-step process for getting title loans from us at Cash Cow. Just follow the steps below to know what to expect:
- Connect to your nearest Cash Cow branch by telephone or our simple online form.
- If you choose the latter option in step one, we will give you a call to ensure you have the requirements. We’ll also determine whether you’d like to meet at the nearest store or another location for the vehicle inspection and for us to assess your other items.
- Please make sure you are at the meeting location on time. We'll inspect your vehicle to figure out how much money you can qualify for and verify your items to determine if you qualify for approval. If approved, we will help you finish the paperwork.
- Once you’ve signed the papers, you can get the money either the same day or the next.
Submit Your Online Form To Us Right Now!
From straightforward processes to emergency funding to the lack of credit requirements, there are many advantages of a title loan from Cash Cow in Louisiana. If you're dealing with a crisis and don't know where to turn, an auto title loan could be the help you need to ease your financial stress. So, don’t wait any longer and complete our easy online form today or call your local branch to kickstart the process.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.