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12 Reasons You Might Need A Car Title Loan

12 Reasons You Might Need A Car Title Loan

By on May 16, 2015

Sometimes you need cash urgently, but your credit score doesn’t allow you to access lines of credit or personal loans. If that is that case you might need a car title loan.

12 Reasons You Might Need a Car Title Loan

So, what are some of the reasons that can compel you to use your car as collateral? Let’s take a look at a few:

1. Short on cash to pay mortgage

When you have entered into a mortgage contract, you need to honor the contract, period.  However, sometimes there can be a turn of events and you run short on cash to pay the mortgage. This is where a car title loan comes in handy. It is as simple as driving your car to Village Financial Service, Inc. and depending on the equity that you have built on your car, you will be given the money you need. Note that the lending company will retain your car’s title.

2. Short on cash to pay utilities

Electric and water bills can go through the roof during hot Summer months in the Coachella Valley. Sometimes you may run out of cash to pay your utilities. Since you can’t survive without these utilities, you may need extra cash to settle the bills. If you’re unable to secure a personal loan elsewhere because of your low credit score, you can opt to apply for a car title loan.

3. Unexpected funeral costs

Death can strike when you are least expected. It can take out your loved ones anytime. Although no one would wish a close member of family to die, when it happens, you need to give your loved ones a decent send off. However, often times funeral expenses can be daunting even for a bare minimum service. So, what can you do? If you have a car, then consider taking out a car title loan to cater for the funeral costs.

4. Unexpected medical expense

If you do not have health insurance, a visit to an emergency room can drain you financially. Even if you have the cover and you need to undergo surgery, you will still need some money to take care of co-payments and policy’s deductible. The problem comes when you do not have money when unexpected medical expense comes up. However, when you have a car, getting urgent cash is not a problem. You just need to take your car to a lending company and once they have assessed it, they will give you a car title loan to cater for the unexpected medical expenses.

5. One of your vehicles breaks down

Sometimes one of your vehicles can develop a mechanical problem and you need to fix it immediately. But, what if you do not have cash to repair it? Well, you do not have to worry. You can just use one of your cars as collateral to take a car title loan. But remember, the car that you choose to use as collateral has to be in a perfect condition and without any mechanical problems.

6. Unexpected travel expense

There are some circumstances where you can be forced to buy a last-minute ticket. For instance, when lose a close member of your family, it is almost without doubts that you will be at the funeral. You can take out a car title loan if you do not have money to take care of traveling charges.

7. To get creditors of your back

When you have unsettled dues with your creditors, you will want to settle them as soon as possible. However, there are instances where you main source of income is affected and creditors will be on your neck. So, what can you do when caught up in such a situation? Have you considered taking out a car title loan? Perhaps you have not. When you are broke and you still need to settle your creditors, consider taking out a car title loan.

8. To post bail

Bail is some type of property deposited to court so that it can release a suspect. The suspect will later come back for trial or forfeit the bail. If the suspect opts for the latter, then he risks being charged for failure to appear. You may never tell when one of your family members or a close friend can be put to jail, but when it happens, it is obvious: you need money to get the suspect out of jail. But what if you do not have money to post bail? Do not worry, you can take out a car title loan.

9. Air conditioner or major appliance breaks

Again, you may never tell when an appliance will break down. Let us be honest. There are some appliances that you cannot do without, especially if you are used to them. When such appliances break down or malfunction, you need to repair them immediately. The big question is; where will you get the money for repairs if you are broke? It is simple; take out a car title loan.

10. Bigger than expected tax bill

Tax bills can surprise you. No matter how you think you are prepared for them, it is difficult to tell in advance the amount you will need to pay. This is why you can receive a huge tax bill when you are expecting a lower bill and vice-versa. When you receive a huge tax bill (bigger than what you expected), you need extra cash. So, where will you get the cash? If you have a car, consider taking a car title loan.

11. Major dental expense

Sometimes your teeth may have to be surgically removed. This can be quite expensive and you may need more money to take care of it. If you have a car, you can take to a lending company and take out a car title loan to cater for the huge dental expense.

12. Urgent pet care expense

While you can easily afford the expenses associated with owning pets, unexpected expenses can come up. For instance, your dog may have to undergo a surgery or need expensive medication. A prudent option will be to take out a loan, but what if you have a low credit score? Of course, it would be difficult to get a conventional personal loan. But if you have a car, you have nothing to worry about. Simply take out a car title loan.

An emergency can arise anytime and when you least expect it. If you don’t have an emergency fund and find yourself needing cash and you are unable to get it through a bank or friends, then a car title loans come in handy.

Car title loans in Palm Springs through Village Financial Services LLC are confidential, quick and you get to drive your car while you pay the loan.

 

About Village Financial Services, Inc.

Village Financial Services, INC. in Palm Desert, Ca is a licensed California Finance Lender also serving Indio, La Quinta, Cathedral City and other cities in the greater Palm Springs area.