Can You Have Two Title Loans on Two Different Cars?
April 20, 2018
Millions of Americans face financial crisis every year. Sometimes it's a matter of not properly managing their money and sometimes unexpected money issues arise. A financial crisis can bring stress and hardship to a family in many ways. Financial issues can destroy credit ratings, cause hardship on marriages and family life, and can lead to bankruptcy. In worst case scenarios, an unexpected financial crisis can even lead to losing your home and ending up on the streets. The worst part is, it doesn't take a huge financial crisis to cause any of this. Even a small financial crisis can have severe consequences. If you have unexpected financial problems, one or two car title loans might be a good option to help you solve your problems.
Is It Possible to Have Two Car Title Loans on Two Separate Cars?
What if you have a financial crisis that requires a bigger loan than you can get with a single car as collateral. You may be wondering if it's possible to get Car title loans
on two separate vehicles. You cannot take two loans out on a single car title, but yes, If you own two cars, you can take out a car title loan on each of those cars to accommodate a bigger loan amount. As in the case of one car, you still need to have a clear title on the second car. The second car title loan will be completely separate from the first. You will need to fill out forms for both loans individually, and the terms of each loan will be separate from each other. The amount of the loan you can get on each of the vehicles is subject to the equity in each vehicle individually. This means you may get a larger loan on one of the vehicles.
In some cases, two car title loans might be taken out by one individual who owns two cars. In many cases, married couples who each own a car may choose to take out a loan on their individual vehicles. Whatever the case, it is certainly legal to have two car title loans out in the same family as long as each of these cars has a clear title and are treated as separate loans.
The loans are handled individually as well. If you take them out at the same time, chances are good the loan payments will be due at the same time. If you take them out separately, the due dates on the loan will be different. In some cases, you might be able to arrange for the loans to be due on specific dates to make it easier and more convenient to make payments. It's important to check with the car title loan company to find out how to manage a loan on two different cars.
Things to Avoid in a Financial Crisis
What can you do when a financial crisis strikes? That's a great question. Maybe you've got a friend or family member who can loan you money to help you survive during the crisis, but this isn't often the case. Even if you have the option, sometimes borrowing money from friends and family members can create its own set of issues. Borrowing from friends and family can sometimes put strain on those relationships, making it more trouble than it's worth.
Taking out a bank loan is another option. Some banks, however, require specific loan amounts that might exceed what you actually need, forcing you to pay longer and accrue more interest and debt than you need. Even if you find a bank willing to loan you the money you need to help with your financial issues, you're still setting yourself up for a long-term commitment to paying off a loan. This might make your financial situation even more challenging.
Banks also require collateral. In many instances, a bank will require collateral far greater in value than the loan you actually need. Another disadvantage of a bank loan is the type of interest rate you get. If you get a variable interest rate, the payment you make on your loan can change depending upon the condition of the market. This can make it difficult to manage your payments. Even if you get a fixed interest rate, you may be paying a particularly high fee, especially if you don't have a good credit score. Also, if you miss payments on a bank loan, the bank has the right to seize your collateral and will report you to credit agencies, which will cause damage to your credit rating. This can happen even if you miss only a couple of payments.
Is there an Alternative Way to Get a Loan?
Absolutely. Car title loans are ideal if you own a car and have its title. A car title loan allows you to take out a loan and use your car as collateral. The great thing is, you can still drive your car while paying back the loan, so you can continue to go to work and do your day to day business. A car title loan has several advantages. First, most car title loan establishments don't check your credit, nor do they report to a credit agency. This means you don't run the risk of damaging your credit over a late payment. In fact, a lot of car title loan companies will allow you to pay a loan off and immediately take out another if you are still in need of money to help with your financial crisis.
Are Two Car Title Loans Right for Me?
A car title loan is a great way to get the cash you need when you face a financial crunch. If you've got two cars with clear titles, having the option to take out a car title loan on each of the cars can be beneficial. There's no need, however, to take out two title loans simply because you can. Assess your situation before you determine whether or not you want to have two loans out. If you need the money and can't get what you need with one car, then taking out a car title loan on two separate vehicles is certainly an option to consider.
Quick Cash Auto Loans is ready to help you get a car title loan. The process is simple, whether you have one car or two. The best part is, after you've filled out the form on the web site, Quick Cash Auto Loans sets an appointment for you to come into the office and discuss your loan needs. This is the perfect opportunity to weigh your options regarding your financial needs and whether or not you want to consider taking out two separate car title loans at the same time.
Quick Cash Auto Loans is a consumer finance company licensed in the state of Florida, ready to help you find the loan you need to get you out of your financial predicament. We specialize in making your car title loan experience fast, friendly, and hassle free. There are no credit checks and no extensive hoops to jump through. If you have a clear car title, we can get you the money you need. Our loan specialists will be happy to discuss your options and walk you through the process of getting a car title loan. You don't need to wait long to be approved either. Our goal is to identify and meet your loan needs as quickly and conveniently as we can. The amount of your loan is determined by the equity in your car, your employment history, and your resident history, so even if your credit isn't the best, we can still work to get you the money you need when you need it. Whether you're looking for a single car title loan or you have a second vehicle you'd like to get a loan on as well, Quick Cash Auto Loans can help you today.
Don't let your financial worries stress you out. Car title loans are easy to secure through Quick Cash Auto Loans, so get started today by giving us a call at (305) 677-7122
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