Obtaining A Car Title Loan To Fund Your Car Repairs in Arizona
Sometimes you find yourself between a rock and a hard place. That is when you need to explore all your options. Perhaps you have considered taking out a car title loan but have been hesitant to do so. There are moments at which you have few choices and it is in that moment that a title loan can come in quite handy.
Let’s say your car won’t start, breaks down, or suffers some type of mechanical issue. You take your vehicle to the Arizona mechanics and they tell you that your car repair will cost over $200. This is not something that you can put off. You know that if you do not repair your vehicle right now that you will not be able to get to and from work. Obviously you need the car repair taken care of as soon as possible. Payday is still ten days away and you are wondering where you can get some extra cash to pay for the car repair you need.
This is the moment at which a car title loan comes up for serious consideration. You are out of options and you need to get cash quickly so that you can pay the mechanics for your Arizona car repair. Without this money you know that you will never be able to make ends meet. There is no other way.
A car title loan is designed to provide short term assistance to those who have an emergency need for cash. This option allows you to borrow against your car title. Of course, your car title must be free and clear and in your name. As long as you own your vehicle you should be set.
By using your vehicle as collateral you will find that most loan companies can allow you to borrow more if your car is worth more. This allows you to get as much money as you need to take care of your vehicle repair or any other emergency that may arise.
Not A Payday Loan
Unlike a payday loan a title loan uses collateral which makes it a secured loan. By allowing you to borrow against your vehicle the company knows that they have recourse if you don’t may. Most payday loan companies also allow people to borrow against their vehicles. Usually, making reasonable sized monthly payments can help you to get the loan paid off within a few months time.