One of the best ways to get help during a financial emergency is to apply for a title loan. You just need the title to your car to apply for the funding. This type of funding could be easy to secure as you use the title and car for the collateral. The title loan lender wants to make sure that they receive payment or at least that you have a way to cover the loan. Below are four ways that a title loan helps with emergency funding.
1. If You Have a Plumbing Emergency
Maybe you have a plumbing disaster in the middle of the week. You will not get paid until the end of the next week. What do you do? You cannot have a backflow problem or other plumbing catastrophe and not get the problem fixed. You need a fast source of money.
Perhaps you have a poor credit score and cannot take out a loan from your credit union or bank. You just want to get the repair made and do it quickly. You can get what you need in emergency cash when you apply for a title loan. Plus, repayment is easy. You don’t have to worry about any problems with checking your credit as your car and title serve as the security for financing.
2. If Your Car Breaks Down Unexpectedly
Maybe your other car — the one that is not used for the title loan – has developed unforeseen maintenance issues. You need a reliable form of transportation. You can take out a title loan on your other vehicle. Get the car that you regularly drive fixed with money that you take out on the title of the other vehicle. You might say that this form of funding is rather creative. If you have more than one car and one of the cars needs to be fixed, you can always go to lenders who provide title loans.
3. If You Need New Wiring in Your Home
Another financial emergency might involve the wiring in your home. If your wiring is frayed and proves to be a safety hazard, you will need to get it fixed right away. Otherwise, your home can be a fire risk, which is something that you need to resolve immediately. Any time that you must fix something that is not safe, you need to act quickly. By taking out a title loan, you don’t have to worry about a credit check and can give the electrician his or money swiftly.
4. If You Need a New Roof
You notice when it rains that your roof is not protecting you adequately. You have too many leaks in your shingles. You need to replace your roof or you will have to buy more buckets from the hardware store. Because a leaky roof can cause damage to your drywall, flooring, and plaster, you need to find a way to cover the cost of repair. The best way to have the roof replaced and to avert added expense is to take out a loan.
That is why title loans are popular financial remedies for people who need to have their roofs fixed or replaced. Once you obtain quotes from roofing contractors, you can get the cash that you need by taking out a car title loan. This type of financial emergency can be resolved quickly when you can access title loan funds.