How an Auto Title Loan Can Help You Meet Your Personal Finance Goals In Las Vegas
Auto title loans are valuable financial tools if they are used correctly. You can get the money you need quickly, and if you shop around at several title loan centers, you can get a low interest rate that will make your monthly payments affordable. To get a title loan, the primary thing you need is the title for a car or other vehicle that you own. You’ll also need to provide proof of income and identity, but the title will be the primary tool to determine your eligibility and how much you can borrow.
Used strategically, title loans can help you meet a number of financial goals. Here are six personal financial goals that title loans can help you meet:
Paying Off Your Car
You can’t get a title loan on a car you are still paying off. You have to own the vehicle outright to get the loan for it. However, if you are currently financing a vehicle but have another that you have already paid for, you can use that purchased vehicle to get a loan that you can use to pay off the loan on the other vehicle.
To get the benefits from this strategy, you have to find a title loan that offers you a lower rate than your auto loan. You’ll need to shop around at several title loan centers to get the most competitive rates and the best terms.
Repairing Your Car
Car repairs are rarely cheap. In fact, the bigger the problem, the more expensive they can get, and you could easily be looking at thousands of dollars for the repairs. Many people don’t keep those kinds of savings on hand in case of a rainy day.
If you own your vehicle, you can get a title loan to pay for the repairs. You can get back on the road quickly, and you can ensure your car has a much longer life span.
Making Home Repairs
If you thought car repairs were expensive, just wait until you have to start making repairs to your home. Few issues will cost less than $1,000 to repair. Again, if you don’t have that kind of money in your savings, you can draw on the equity in your vehicle to get the money you need. Then you can make the repairs quickly so there is no danger of damage spreading through your home.
Planning A Home Remodel
Everything in your home may be in good condition, but you might be ready for a new look. Maybe you want to get new kitchen cabinets, or you want a more energy-efficient air conditioner. You may be able to get some or all of the money to fund these projects with a title loan.
Title loans are based on the value of your vehicle, so they may not be able to fund your whole project. However, you can get a good amount of money together to make a down payment with the contractor, or you can pool the money with other resources to fund the whole project.
Taking a Trip
Have you been dreaming of going to Hawaii? Or taking a cruise around the Mediterranean? A title loan may be able to help you make that dream a reality. Again, the loan is likely to only pay for part of the trip. It really just depends on the type of trip you are planning and the value of your vehicle. You may be able to fund a quick cruise in the Bahamas, but probably not a month’s stay in Paris.
Starting a Business
Many people dream of starting a business, but they don’t have the money to do it. If you are thinking of starting up a business on a lower budget, a title loan can help you do it. Obviously, a title loan isn’t going to help you start the next Amazon, but it can help you start a small ecommerce store or service business. Or you can use the title loan to fill in the gap with other financing.
Title loans can help you achieve a lot of financial goals if they are used strategically. You may choose them over other forms of financing because they offer a lower interest rate, or you may use them in conjunction with other financing when you have a big goal you’re trying to meet. Take offers from several title loan centers and look closely at the terms to be sure you are getting the best offer available.
USA Money Today is a top-rated title loan center serving Las Vegas and the surrounding area. We offer fast approval on car, truck, and RV title loans. Our loans come with competitive interest rates and no pre-payment penalties. You can check out our more than 600 five-star reviews to find out why we are one of the top title loan companies in Las Vegas. Call us today to learn more, or apply for a title loan online.