Many people live paycheck to paycheck in today’s society. Soaring rents, rising gas prices and inflated food costs make it challenging for many people to simply make ends meet. If an unexpected health emergency or death in the family occurs, it can turn a person’s financial world upside down in an instant. If you have experienced an emergency situation and need fast cash, but do not have the credit needed to obtain a personal loan at a financial institution, you still have options. While the interest rates can be quite high, a car title loan or payday loan can help see you through your financial situation until you get back on your feet and are able to pay back the loan.
If you have a vehicle that is paid off, you can use your car as collateral to borrow money. Some title loans in Houston Tx can be secured for up to $10,000, but this is based on the value of your collateral. In many cases, you can secure a title loan for virtually any make and model of car, truck, van, motorcycle, boat, RV or ATV. To secure funding, you would simply bring in the vehicles you own outright, and the loan specialist will assess the vehicles to determine condition and value to be able to offer you a loan option based on your collateral. A contract is drawn up, and a repayment schedule is agreed upon and outlined explicitly in the paperwork. Car title loans generally come with a standard 30-day repayment schedule, but most title loan companies are flexible. You can expect to pay more interest, and sometimes at a higher cost, if you need an extended time frame for loan repayment.
Loan Depot Dollars, http://www.loandepotdollars.com/title-loans/, is an example of a company in Texas offering car title and payday loans. They have an online application and several locations, and they outline their fee schedule in clear terms. When you need fast cash, you can also choose to sell unwanted items of value online or pawn your goods, but you have to wait for hungry buyers when you sell items online. Pawn shops may also devalue your items, and you may not get the capital you need or deserve. A payday or car title company will quickly process your application, and you can get the same-day cash you desire to help you in your critical time of need.