Title Loan Places | Looking for a Title Loan? You're Not Alone
April 9, 2020 | Daniel Dewitt
In the last twenty years, title loans and title loan places have emerged as one of the staples of many American’s financial fortunes. If you’re looking for a title loan you’re probably not alone. Why have title loans become so popular? There are a few key reasons.
First is speed and convenience. Unlike traditional forms of lending that can drag on forever with multiple rounds of credit checks and paperwork, most title loans take as little as 30 minutes from start to finish as soon as you step into the store, and they rarely take more than a few key required items.
Second is that title loans are largely credit agnostic. All forms of credit, good, bad, or other are welcome unlike traditional lending back.
While both of these are key factors as to why title loans are so popular, to truly dig beneath the surface of why so many people are turning towards them we have to dive into the history of title loans over the last thirty years.
Title loans originated in the early ’90s. They were designed to largely appeal to those in lower-income brackets who needed financial help and might be closed off from other forms of lending due to poor credit. They quickly became ubiquitous because of their speed and convenience, and almost all states have a dedicated network of companies and stores thirty years later.
Their popularity is also owed to the financial instability of the last thirty years, with the crash in 2008, student loan crisis, and the general decline of the middle class.
What They Can Be Used For
Another reason for the enduring popularity of title loans is their versatility. Because they’re straight cash, they can be used to address any kind of emergency or emerging situation. Considering that the majority of bankruptcies in America spring from healthcare-related costs, it’s no surprise that often title loans are taken out in the aftermath of health emergencies to deal with the staggering costs involved.
Other emergency title loans are often used for include car accidents, household repairs, unexpected travel, and job loss. Each can be cataclysmic considering that studies show that the majority of Americans can’t cover a $400 emergency without going into debt.
How You Should Use Yours
Once you have the cash of your loan in hand, what’s the next step? Most likely you’ve been so focused on getting the cash you need you probably haven’t even thought about them afterward, but how you spend the money is as important, if not more so, then getting it in the first place.
No doubt you’ll feel a temptation to jump straight into spending the money you receive on whatever emergency caused you to take it out, but if possible, you should take a moment to breathe and sketch out your financial plan moving forward before you do.
First, identify what the most important expense looming over you is. For example, if your house has been ravaged by a hurricane, then identify which repair is most vital: the roof? The air conditioner? The washer? Each is important, but they’re not equally important. As a general rule of thumb, you should prioritize those things that will most directly impact you on a day to day basis.
Cash Cow Louisiana
Of all the title loan companies out there, why should you pick title loan places near you in Louisiana? Simple. There are two straightforward reasons you choose us for your title loan needs.
The first is just how fast and convenient we make the title loan process. All you need to get started is an internet connection. Once you’re on our site you can fill out the simple online form at the top of the page, and one of your loan representatives will call you back promptly to walk you through the title loan process and answer any questions you may have: what is the total amount of the loan? Will my personal info be kept confidential? How old do I have to be to get a title loan? All our questions our representative can answer.
Second is the broad network of store locations we’ve created to serve the state of Louisiana. If you’re in the state you’re never more than a quick drive away from one of our many locations. If you’re interested in learning more, just check out our location page to find out what title loan places are close to you.