filling out paperwork for Louisiana loans

Understanding Louisiana Loans: A Guide To Payday Loans And Title Loans

When you need quick money to deal with emergencies, Louisiana loans can really help you out. Not all loans are made the same – even here at Cash Cow. When you come to see us, you can choose between payday loans or car title loans, so you must know how each of these loans works to choose the right one for your specific needs. Keep reading the following article to learn more about each loan so it can be easier to choose the one that's right for you.

Everything You Need To Know About Our Louisiana Loans

Need a quick cash loan to handle your financial emergency? You can seek an emergency loan from Cash Cow in Louisiana. What type of Louisiana loan you need depends on what financial emergency you face, how much money you need, and whether you own your car outright.

Here is everything you need to know about emergency loans in Louisiana:

How Should You Use Each Type Of Loan?

The first of our Louisiana loans is our car title loans. Car title loans are emergency loans that allow you to use your vehicle’s lien-free title as collateral to secure money. This loan was designed to help you with significant emergency expenses you can’t handle alone. This means you should not get this loan if you want to fix your finances permanently. Instead, you should use this loan for things like medical bills, emergency home repairs, or emergency travel.

The next of our loans you can get – our payday loans – helps bridge the gap between pay periods to help you pay for things that can’t wait. Since this loan is considered unsecured, you do not need to provide anything as collateral. Since this loan will get you slightly less money if you are approved, you can use it for smaller emergencies. You can use it for things like late utility bills, urgent car repairs, or late rent.

woman calculating Louisiana loans amount

What Do You Need To Get A Title Loan Or Payday Loan?

Unlike traditional bank loans, you don't need to contend with many requirements to find out if you can get either title loans or payday loans at Cash Cow. In fact, whether you want a payday loan or a title loan, you only have to bring in a few items for us to determine how much money we can lend to you and if you qualify.

Here are the items you will need to show us if you want a title loan or a payday loan:

  • Title Loans
    • Identification — In order to legally obtain this loan, you have to be at least 18 years old and be able to prove it. This means you can show us either your driver’s license or your state-issued photo ID as proof.
    • Title to your vehicle —You need to ensure you have a lien-free title to your vehicle that is in your name to use as collateral. We will place a lien on your title and hold onto it until you’ve finished repaying the loan.
    • Vehicle —While we don’t hold onto your vehicle while you repay the loan, we do use your vehicle’s value to establish how much you can borrow if you are approved. Keep in mind that we only accept cars, trucks, or vans.
  • Payday Loans
    • Identification —Like with our car title loans, you have to be 18 or older to get payday loans. This means we ask for you to show us either your Louisiana driver’s license or your state-issued photo ID as proof of your age and identity.
    • Pay stub —You must use a recent pay stub. That way, we can get a completely accurate picture of your current financial state to better confirm how much we can offer you if you are approved.
    • Blank check —You need to provide a blank check from an active checking account in your name. Before doing so, ensure your name and other information matches across all of your documents. 

How Much Can You Borrow With Either Loan?

We use your vehicle's value and overall condition to determine how much money we can lend to you if you are approved for a title loan. If approved, you could get anything between $300 to $1,400. So, how do we establish how much your car, truck, or van is worth? While there are many factors influencing the value and condition of your vehicle, we primarily look at the following:

  • National average — We look for your vehicle's make and model's national selling price to get a feel for its general worth. We look at a nationally recognized pricing guide. 
  • Age — Older cars aren't worth as much as newer vehicles. This means if your car is older, you might get a lower amount of money.
  • Mileage — The more miles on the car, the less it's worth. This is because the mileage can tell us a bit about your car’s wear and tear.
  • Condition — If you've taken care of your car's interior, exterior, and mechanical/electrical workings, the condition won't negatively impact its value.

For a payday loan, we clearly don’t have to inspect your vehicle or use your title to secure anything. Instead, we use your current financial situation and your ability to repay the loan to determine how much money we can lend to you. This is why we need to know your income source. At Cash Cow, you can borrow between $100 and $300 if you qualify for approval.

How Do You Get A Title Loan Or Payday Loan In Louisiana?

Now that you know some information about our car title loans and our payday loans, you can move on to the process. No matter which one of our Louisiana loans you want, you don’t have to go through a difficult process. In fact, once we meet in person for either loan, you can find out within 30 minutes if you are approved for the loan you want. While the process differs slightly for either loan, here are the steps you will take:

  1. Get in touch with your local Cash Cow store either by phone or by utilizing our simple online request form – that you can find on the homepage of our website – to send your information straight to us. Keep in mind that this isn’t the official application, but it does get you into our system to we can help you out and get through the process quickly.
  2. Once we get your online form, you will get a call from one of our loan representatives who will go over the required items that you’ll need for the specific loan you want. They will also set a meeting for you to meet with them in person. If you are going for a title loan, we can go to you if you’d rather not come to the store. For payday loans, you will have to come to the store.
  3. After this conversation, ensure you have the correct requirements for your specific loan ready for the meeting. Whether you meet with us at the nearest store location or we come to you, we will assess your items – and inspect your vehicle for a title loan – to determine if you can get the loan you want and how much money we can lend to you.
  4. If you're approved for your loan and you’re happy with the amount we can offer you, we'll show you where to sign the paperwork. We will also go over the specific loan terms for the loan you want so you understand your responsibilities. After you are finished, you'll receive the money either later on the same day or the following bank business day!

representative going over car title loans and payday loans

Get Louisiana Loans From Cash Cow Right Now!

Whether you need to borrow $100 or $1,400, car title loans and payday loans from us at Cash Cow can help. And now that you're armed with the information you need, you can make the best financial decision for your situation. Remember, we here at Cash Cow are always here to help you out no matter what step of the process you are on. So once you know which loan you want, don’t hesitate any longer to begin the process. Fill out the online form now to get started.


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.