use title loans for crisis

How Are People Using Title Loans During Times of Crisis

In the last two months all of our lives, both personal and financial, have been consumed by a single thing: COVID-19. Not only has it forced us all to social distance and stay at home, but it’s also crashed the global financial markets and forced millions of Americans on to unemployment.

To try and salvage their financial situation millions of Americans have turned to an old and reliable source of financial relief: title loans. ‘Title loans Louisiana’ and ‘title loans Baton Rouge’ have spiked as location search terms in the last two months. Why have so many Americans turned to title loans? Simple: they’re fast, convenient, versatile, and welcoming of all credit scores.

What are Americans using auto title loans and payday loans for, though? That’s a little more complicated an answer, and the one we’re here to explore today. To answer that question we’ll dive into the primary expenses that are weighing Americans down in this unprecedented pandemic.

Food Budgeting

Though grim, the truth is that for the many millions of Americans that have lost their jobs and been thrown on unemployment, not being able to feed themselves or their children is a very real problem. It’s barbaric that in 2020, in a first-world country, that food uncertainty is such a pervasive problem, but one look at the food lines nationwide that are being overwhelmed on a daily basis is enough to prove how widespread a reality it is.

Luckily, there are a few charities and programs in the state of Louisiana that are trying to help. A little online research will guide you to those operating in your region, though as mentioned above long wait lines are going to be undeniably long and arduous.

Planning for Rent Spend

While some states, New York, for instance, have taken measures to pass ordinances that prohibit the eviction of tenants for the duration of the pandemic, in most states rent still hangs like an ever-present sword of Damocles over our heads. The threat of eviction is always lurking, and with all of us stuck at home all day, it’s a particularly poor time to suddenly become homeless.

Just as with food, there are a few charities out there trying to help those put into a tough housing situation by the pandemic, not just financially, but also in providing legal advice and counsel.

Healthcare Costs

Studies show that the vast majority of bankruptcies are the result of medical costs, so it makes sense that without a steady income many Americans are turning to title loans to fill the gap. Just because the country is in the iron grip of a pandemic doesn’t mean that normal health problems just abate. If you had a medical condition that required treatment before the pandemic you still have it and it still requires treatment.

Worse, if you are one of those stricken with COVID-19, then your financial troubles are only waiting long enough for you to leave the hospital before striking. The healthcare system we had before the pandemic is the same as the one we have now, which means that any emergency room visit will cost in the thousands, much less an extended hospital room stay.


On the lighter side of things, being stuck at home without any substantial social interaction is causing most of us to go some shade of stir crazy. Under these conditions relieving psychological stress isn’t so much a choice as a necessity. Model trains, video games, gardening, reading, jigsaw puzzles, home repair: all are hobbies that can keep you sane as you shelter in place and force yourself to avoid other people.

That being said though, there are clearly certain hobbies that are more useful than others: home renovations can net you thousands when you eventually sell your house, while model trains pretty much just chug away in a circle no matter how good you get at assembling them.


Whether it’s for you or your children, this period of lockdown is perfect for learning new things and educating yourself. Rather than rotting on the couch, many people are signing up for online certifications in their field so that when social distancing does end they’ll have an edge in the job market. From coder to teacher to salesman, every field has some kind of certification that can help jack up your salary.


title loans Louisiana


On the other side of things, with schools closed many American families are increasingly worried that their children will fall behind academically. Because of that online tutoring programs have exploded in popularity, but like all things, it’s not cheap. But is there any better investment than your children’s education?


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

Daniel Dewitt

Daniel Dewitt is a lifetime blogger with a finely-honed ability to break down, analyze, and interpret economic trends for the layman. He's fiercely invested in spreading financial literacy and helping everyday people gain the tools they need for their own economic success.