Car Title Loans: An Answer to Your Debt Problems
February 14, 2018
Many Americans are in debt, and not everyone is ready to handle the stress that comes with it. Debt may not only place you in a financial bind, but also put your emotional and physical well-being at risk. That is why it is important to keep calm and devise a plan to help you get back on your feet. Fortunately, there are other options for paying off debt, like car title loans
, which are a great way to get your finances back on track.
Most of us have experienced the stress and discomfort of being in debt. According to the American Psychological Association
, about 62% of Americas say they feel stressed out about their financial situation —and this can have serious health consequences. As a result, it is important to remain calm and take things one step at a time. Here are some tips that can help you deal with your financial situation.
Face Your Reality
Be honest and take stock of your debt. Evaluate how much you owe, including interest, and how much your expenses were last month. There are certain expenses that cannot be postponed, such as medical bills, food, and housing. However, many people end up spending their money on avoidable expenses.
Once you have identified and analyzed your debt and expenses, it is time to look at your income and compare it to your expenses. Your income should always be greater than your expenses. If that is not the case, do not freak out! You can still fix it.
Create a Payment Plan
Once you have a good handle on what you owe, it will be easier to plan how to pay everything back. Now you can set aside money to cover unavoidable expenses like rent/mortgage, utilities, and food. Be sure that you only include expenses that cannot be postponed.
Another option is to divide your money up among all your creditors each month until all of them are paid off. However, some experts recommend focusing on one debt at a time: Pay all but one of your creditors the minimum amount, while making bigger payments to another one. This could help you pay off your debt quicker. Be sure choose the strategy that works best for you.
Create a budget and stick to it! It is imperative that you carefully analyze every expense before you start spending your money. This will ensure that you know where, why, and how every penny was spent. Keep in mind that credit cards can be dangerous, as they often have high interest rates that can quickly add up.
Always Pay on Time
When you pay late, you will usually be assessed a fee. This can get out of control if you are not careful. Debt is almost always backed up by a contract, not being able to pay on time, as stipulated in the document, can lead your bank accounts to delinquency.
The worst part of being delinquent on debt is the adverse effect that it has on your credit score. Your credit score is crucial for borrowing money to finance a house or getting a bank loan. Keep your credit score as high as possible by making timely payments.
Plan Your Expenses Carefully
According to Debt.org
, "the typical American household carries an average debt of $134,643." Shocking, right? The only way to get out of the red is to be organized and disciplined.
It is a good idea to put payment reminders on a calendar. This can help you make payments on time. Also, there are some things you can do to save money when you go out. For example, take some cheap snacks with you to avoid eating out, which can be more expensive. Every little bit helps.
Have a Backup Plan
If you are still drowning in debt after following these tips, consider alternatives that can help you get your head above water. Requesting a loan might be a nice temporary solution. However, be careful about how much money you are requesting. Even if your loan application is approved, you might be taking on more debt than you can handle.
But what kind of loan is best for you? Well, it depends. There are many different types of loans on the market, but you need to do your research and choose the best option for you.
The first thing that most people think of are bank loans. However, bank loans have some drawbacks.
The most evident disadvantage is time. Banks take too much time reviewing applications. Another drawback is the endless amount of documentation you need to provide. Also, your credit score plays a fundamental role in whether a bank approves your loan. In short, the process of getting a loan at most banks is difficult and tedious.
The good news is that there are simpler ways to get the extra cash you are looking for: car title loans. Many people turn to car title loans because the loan process is much easier and faster. Here are some of the main reasons why car title loan agencies, like Quick Cash Auto Loans, have become so popular among Americans:
- SIMPLE LOAN APPLICATION: Many auto title loan companies have made it easy for people to apply anywhere, anytime, and from any device. At Quick Cash Auto Loans, our clients can fill out a loan application on our website or call our office directly. Either way, our loan specialists are ready to assist them.
- NO CREDIT HISTORY: We all know how hard it is to maintain a good credit score. Fortunately, most auto title loan agencies will not review the borrower's credit score. As long as they put up their car as collateral, they are eligible to apply.
- EASY-TO-FIND REQUIREMENTS: The car title loan process is fast and simple. Quick Cash Auto Loans does not require you to gather a long list of documents like you would have to at other financial institutions. We understand that our clients need money fast. That is why we only ask for a few easy-to-provide documents to confirm our customers' personal information.
- REASONABLE AMOUNT OF TIME TO PAY BACK THE LOAN: Paying off a loan can be stressful and frustrating. That is why Quick Cash Auto Loans gives you 12 months to pay back the loan. The total amount and the interest rate are divided into installments, making it easier to pay it back. Our loan agents are always ready to offer our clients personalized assistance. Additionally, our clients can pay the total amount anytime before the 12 months are up without any penalties.
- LOW RISK OF LOAN REFUSAL: Since all our car title loans are based on the value of your car and not on your credit history, anyone is eligible for loan approval. If you own a car for private use and have a clear title, you are a good candidate for one of our car title loans.
- NO CONDITIONS ON HOW TO USE THE MONEY: At Quick Cash Auto Loans, we will never ask you how you will spend the money. Therefore, you can use the money we lend you to pay off debt, satisfy a craving, achieve a personal or professional goal, start a new project, or just about anything else you can think of!
- KEEP DRIVING YOUR CAR: Using your car as collateral does not mean that you cannot use it while you are paying off your car title loan. We allow our clients to continue using their vehicles just like they were doing before they applied for the car title loan.
- FAST LOAN PROCESS: Quick Cash Auto Loans offers a swift, hassle-free loan process:
1. Contact our staff: Our loan specialists are ready to assist you.
2. Get your car assessed: Bring your car to our office so we can determine its value based on its condition, year, make, and model.
3. Get your loan! After we calculate the value of your vehicle and set the loan amount and you submit a few documents, you are all set!
Quick Cash Auto Loans is a consumer finance company that is licensed to operate in Florida. We help people like you get the financial help they need. Our car title loan company accepts all makes and models as long as the car is for private use. Call us today at (786) 600-3411
or fill out the form on our website. We are looking forward to helping you! Find us on Facebook as Quick Cash Auto Loans
, and follow us on Twitter @QCashAutoLoans
and Instagram @QuickCashAutoLoans