Auto Title Loans, A Source of Quick Cash

Unemployment has reached levels not seen since Jimmy Carter was President. Banks and creditors are doing everything they can to look out for their interests. Credit lines are slashed. Interest rates are skyrocketing. The short term source of cash for emergencies has gone poof.

Here's the answer to getting the money you need. If you own your car, you are riding on your money. Auto title loans are one place to get that emergency cash for a short period of time.

The process is simple. Find your a lender who meets your needs. Grab your title. Fill out an application. Get your car appraised by the lender. Get your money. The loan is not dependent on your credit score. The value of your car and its condition determines the amount of money you receive. If you are at least 18 years old, can show proof of residency and income and your title is clear, you can get your emergency money.

There are advantages to auto title loans. You get to keep your car. You get the money you need for emergencies. Your creditor may keep your interest rate lower than you would get on other unsecured loans like pay day loans. Auto title loans are designed to help people who need large amounts of money for a short period of time. If you have a pink slip title, you are sitting on emergency cash in your ride. Your car is the collateral for the loan.

You'll want to use these loans as an emergency funding source. You still have to pay the loan back. If you can't get the loan paid back quickly, you may have to do a "rollover" loan. These loans can come at a much higher interest rate. Auto title loans can be due in as little as 14 days. I've spotted online loans that can run as long as 12 months.

With any loan, make sure you understand all the terms of your agreement. You need the money, but don't lose your car in the process by not understanding the auto title loan contract