How A Title Loan Can Help With Financial Emergencies During The Holidays
The holidays are stressful with the average American spending nearly $1,000, according to the latest 2023 numbers on seasonal spending. The end of the year is also a time of settling accounts, which means everyone from local tax authorities to the IRS, to mortgage lenders, to bill collectors are contacting people to pay off what's due or else.
The threats of possible legal action can cause a lot of stress with many finding themselves needing emergency funding. Fortunately, those in Nevada who have a vehicle they own and a steady source of income have an option.
Consider A Title Loan
Title loans are a convenient way to fund unexpected expenses during the holidays whether it's a bill that can't wait, a home repair, or a high utility bill. You are taking equity out of a vehicle you own and have paid off and using it as extra money you need now
Today's title loans are open to more people because many private lenders will consider people of all credit situations. It's a secured loan so that allows more people to use it even when they have bad or no credit.
These lenders don't do credit checks so a low credit score isn't the problem. They also don't report your loan to credit bureaus so your score won't take another hit. That makes this type of loan an incredibly private loan that is securely done and not a part of public information as bank loans and other loans are that are reported to the credit bureaus.
An advantage is you keep your vehicle. The lender only holds onto your title during repayment. Your title is returned when the loan is paid off.
Another advantage of getting a title loan is, that unlike other types of loans, you don't need a checking account to seek this type of funding. That makes it an option for those who don't have a checking account or don't have one listed in their name.
Title loans have a couple of other advantages over traditional bank loans. You can get a title loan in a day while a bank loan may take a couple of weeks to get a decision. Money comes faster, at the latest by the next business day. Money from a bank loan can take a few days to become accessible.
The biggest difference is reduced paperwork. Private lenders have paperwork that is much simpler to understand and fill out than paperwork required by banks. That can make getting a title loan a hassle-free experience, depending on the lender.
Getting A Title Loan In Nevada
You always want to use a reputable private lender when considering a title loan. One in this state is Nevada Title and Payday Loans, Inc. It offers title loans up to $15,000. The amount you can borrow depends on the value of your vehicle, which is determined during an inspection using fair market pricing, and your ability to repay.
Those seeking a title loan from this lender will need only three things to get started. They need a driver's license or a photo of state-issued identification, a clean title to the vehicle, and the vehicle available for inspection.
A clean title means there are no liens or judgments against the title and no one can claim ownership of the vehicle but the one seeking the title loan. The title must be in the name of the one seeking the loan.
The vehicle must match the title both in make, model, and the vehicle identification number. That will be checked.
The First Step
Getting a title loan with this private lender is an easy first step. That's to get information. Fill out the online inquiry form for more information. It will be sent to the nearest location. A loan representative from Nevada Title and Payday Loans, Inc. will contact you to answer questions and explain the process. You can schedule an appointment to meet a loan representative in the store.
Once at the store, a loan representative will go over your documents and do a quick inspection of the vehicle. They will guide you through some simple paperwork to see if you are approved. This happens quickly and can take as little as a half hour to complete!
Approval comes while you wait. Those approved will get money either the same day or the following business day.
Submit the Form
A title loan is a short-term loan that can pay for your most urgent holiday emergency needs. It can provide some relief as the year ends and many unexpected expenses pop up. Nevada Title and Payday Loans, Inc. is committed to helping people who need fast cash.
Fill out the form to get all the info you need to make a decision that's right for you. Submit it today!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.