Can You Use A Car Title Loan To Pay For Auto Repairs?
You’ve come to the right place if you’re considering using a car title loan from Nevada Title And Payday Loans, Inc. to pay for auto repairs! In this quick article, you’ll discover why this finance option can be helpful to you.
Here, you’ll dive deeper into the unique title loan advantages that can help you pay for your repairs. You’ll also discover how long it takes to get your money this way and why having bad credit won’t be a problem!
Can You Get A Title Loan To Fix Your Car?
Absolutely! You can get a title loan for essential maintenance, servicing, and repairs to keep your car in shape. Auto repairs constitute as an urgent expense that car title loans can help you pay for.
Here’s what you need to know:
What Is A Title Loan?
A title loan is a finance option that enables you to borrow money against the value of your car. You’ll need a lien-free title as collateral to secure the money you borrow.
Our knowledgeable representatives will inspect your car and refer to a nationally recognized price guide to determine its value based on its make, model, and year. Then, they’ll let you know how much you qualify to borrow!
Title loans have unique advantages that could help them fund your auto repairs. The following section below will dive deeper into each of them!
What Are The Advantages Of A Car Title Loan?
You can find plenty of different finance options to pay for your auto repairs on the market.
However, here are four advantages that make title loans stand out:
Advantage 1: Up To $15,000
Firstly, depending on the value of your car, you can qualify for a title loan to borrow up to $15,000.
That amount of money could help pay for many auto repairs, including minor and major ones that require new parts!
Advantage 2: Fast Processing
Title loans are also an excellent option because of the fast processing times involved. That means you don’t have to wait forever to finish getting one!
For example, the in-person part of the process can take as little as 30 minutes to complete. That means you can get your documents verified and your car inspected without disrupting your regular schedule.
Advantage 3: Required Items
Unlike some finance options, there are only three required items you must provide to begin.
Here’s what you need to get a title loan:
- Identification: First, you’ll need a driver’s license or a state-issued photo ID.
- Title: Of course, you must have your lien-free car title. That title must be registered in your name and free from outstanding loans or judgments.
- Car: Lastly, you must bring your vehicle in for an inspection.
As you read earlier, the car inspection won’t take too long. And that leads us to the next advantage of title loans below.
Advantage 4: Keep Your Car
You get to keep your car after our representative inspects it, even if your loan is approved!
That means you won’t have to worry about finding alternative transportation and disrupting your daily commute to get a title loan.
Instead, you can drive your car straight to your preferred workshop to begin repairs immediately!
Once those repairs are complete, you can continue commuting to work or driving the family in your car. The car stays with you as you continue repaying the loan as required!
Remember: only the car’s lien-free title is needed as collateral. The vehicle stays with you!
How Long Do I Have To Wait For The Money?
Suppose you go through the entire process and get approved. In that case, you could get the money as early as the same day or by the next business day.
That depends on how soon you begin and when you get approved.
So, avoid delaying your critical auto repairs; start as soon as possible!
Will My Bad Credit Be A Problem?
No, you don’t have to worry about your credit regarding title loans. As you saw earlier, there are only a few required items, and having perfect credit is not one of them.
Instead, you’ll go through the same process regardless if your credit is good or bad.
Just be sure you can meet the loan requirements described earlier!
Fund Your Auto Repairs Now!
Getting a car title loan could be a helpful option to help you pay for your auto repairs. This finance option has several advantages, like fast processing times and only a few required items. Most importantly, you get to keep the car with you!
Nevada Title And Payday Loans, Inc. will always help you get your money. Just complete the online form with your information so our representative can call you soon!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.