Wednesday, January 8, 2014

Car Title Loans: Fast Cash When You are on a Fixed Income


Whether retirement is just around the corner or already here, you might be thinking about the financial responsibilities that lie ahead when you begin getting a fixed monthly income. While you’ve saved what you could throughout the years and did everything possible to prepare for this time in your life, the reality of the economy these days makes it less likely that you will see all of that in the years to come.

While you will surely get enough each month to cover your basic expenses and bills, what are you to do if faced with an unforeseen emergency, or if you want to take a spontaneous trip to see family or friends? Luckily there are solutions for finding cash. Title loans are an easy way to get money quickly, and are helpful when needed unexpectedly. Most lenders, such as TitleMax and others, make the whole thing easy and simple so that you are not drug through a muddy process that is burdensome and tiring. 


An Easy Approval Process


The approval process for title loans is relatively quick. Since there is no credit check for a title loan, you can be approved in less than an hour in most cases. Once you are approved, an appraiser will come out to assess the value of your car to determine the amount of the loan that will be approved. From there, you simply have to work out the repayment terms with the lender and the money is yours. More often than not, you will see the money in your hand the very same day that you applied for the loan. How could you possibly go wrong with that?

Benefits of a Title Loan


There are many advantages of title loans over traditional loans. For one, you get money fast. In an emergency or unforeseen event, it is handy to have extra cash to ensure that nothing goes awry. Additionally, a title loan is used against the value of your car that you already own. While repaying the loan, you can still use the car. And once it is paid off in full (on time), you get your title back. This allows you to get money for other uses, while still retaining possession of your car. Finally, title loans are short term loans, so you only have to worry about making payments for a short while.

As you near retirement, there are bigger fish to fry than money and social security. If you plan it out right, you can enjoy your time and have the money to do so without worry. Title loans are an easy option if you need something quickly. They are helpful loans, so long as you make timely payments and do not fail to pay back the loan in the allotted time. Plan ahead and make sure this is the right choice for you. There is some risk involved, like any loan, but once it is paid in full, you can go back to living as peacefully as you were before.

Image source: nbc29.com

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