Why Car Title Loans make sense | Title Loans
Thursday, April 17th, 2008The case for car title loans, also known as title loans, is actually easy to make. A lot of my readers simply do not understand what to do when they need money fast. The problem is timeing. Title loans sounds like you are getting a home refinanced now doesn’t it? So let’s take a moment to look at what happens when we need money fast:
Here is a typical situation… Your boss just fired you. You have not been saving money either and now rent is due. You have been paying your bills but the fact is that you have missed payments too many times and now your credit isn’t the best.
You’re first thought is pulling cash off your credit card. Trouble is, you have tapped that out already. Next you think about getting a loan from a bank but then you realize that a bank may not give you a loan when they pull up your credit and worse yet, when they do, your credit file is now going to be updated with your current info and now your creditors are going to track you down. It’s not like you are hiding from them, it’s just that you don’t have the money to pay them right now and the least thing you need is one more demanding phone call.
Next you think about maybe asking a friend or family for the money but who has that kind of money to spare and you know that borrowing money from family and friends only ends up in problems.
You start thinking about what you can pawn. You have some nice stuff and maybe that is an option but you need a lot of money and the only thing you have that much equity into is your car and your house.
No one thinks twice if they have to refinance to get money out of their house but rarely do people think you can get money out of your car!
Next you think it’s going to be hard. Then you find out the best news. These car title loan companies WANT to give you a loan. They spend a lot of money trying to get people to borrow from them. They know people are not too familiar with this type of borrowing so they have to really get the message out. These guys have the money ready and they are very liberal when it comes to the application.
But not all car title loan companies are the same. Just like any business, you want to work with people who are nice to you, easy to do business, and appreciate you as a client. You want someone who will work with you, not against you.
In my experience I have found three sites that make sense. One is in the chicagoland area called Chicago Title Loans. They will actually deliver to you and have a gift card program. The next is Prestige Auto Pawn. Auto Pawn is a novel way to get even more cash but not many people can leave their car while a car title loan company does not have you give them the car. Finally there is a site called ezloanlookup which has companies on the site which are high customer service minded. So check them out.
Please comment if you have any questions and I will be happy to answer them.
