Unsure About Vehicle Title Loans? Here's How To Decide
Deciding whether to get vehicle title loans isn't easy, especially if it's your first time. Like any other financial commitment, you should avoid deciding without properly evaluating your options and researching every aspect of the loan you need. But luckily, you don't have to go it alone — we're here to guide you.
In this article, we'll help you decide whether vehicle title loans are suitable for you before digging into the step-by-step process.
How To Decide Whether To Obtain Vehicle Title Loans
Generally speaking, you need to answer these questions to determine whether a title loan in Nevada is the best course of action:
- Do you have a reason for getting a loan?
- Can you repay it?
- Do you meet the criteria?
- Have you tried to obtain money through other options?
- Do you know the Terms and Conditions?
We'll go through each in detail to help formulate your answers and arrive at a conclusion.
1. Do You Have A Justifiable Reason For Seeking An Emergency Loan?
Firstly, you need to establish whether you have a genuine reason for acquiring a vehicle title loan. You should only get a loan if it's necessary to fund emergencies.
Some of our customers use car title loans to pay for:
- medical bills that were entirely unexpected or higher than expected
- urgent veterinary care for their furry friends
- emergency home repairs like broken doors smashed windows or gas leaks
- car repairs like solenoid replacements and tired fan belts
- emergency travel costs
If you are experiencing any of the above, a title loan could provide the quick cash you need to get your life back on track. Simply put, if you don't have time to wait for a traditional loan to process, a title loan might be the way forward.
2. Can You Repay The Loan Within The Given Timeframe?
Next, think about your finances. If you can't repay the loan on time, you will just fall deeper into monetary woes.
Take a look at your budget. How much money do you have left over once you've paid for food, bills, rent, and other necessary expenses? If it's enough to comfortably cover the title loan repayment, you are good to go.
3. Do You Meet The Approval Requirements?
Knowing you can repay the loan is one thing but understanding whether you meet the approval requirements is another. After all, you won't have to worry about paying a loan if you don't qualify for one.
Luckily, gaining approval for this sort of emergency loan is easy. All you need is:
- a government-issued ID that displays your photo
- a vehicle
- a lien-free title (under your name) to your car, truck, or van
4. Have You Tried Other Funding Routes To No Avail?
Consider vehicle title loans once you have exhausted other options. If traditional loans aren’t an option, you may want to ask a family member or friend before jumping headfirst into a title loan. These loans should be your final port of call when facing financial emergencies.
5. Do You Understand The Terms and Conditions?
Finally, do you fully understand the Terms and Conditions? If not, don't agree to the loan until you do. Lenders should be open and honest about everything — including what's lurking in the fine print — so be sure to ask all of your questions before signing.
How To Get Vehicle Title Loans From Us
If you've decided a title loan is right for you, here's how to get one:
- Complete the online form on this website to kickstart the process. Make sure you're accurate here, so you don't inadvertently delay the process.
- As soon as we receive your information, we will give you a call to discuss the process and ensure you have the relevant paperwork needed for approval.
- After the call, head to your nearest Nevada Title and Payday Loans, Inc. branch with your vehicle, government-issued ID, and lien-free car title.
- When you arrive, we will evaluate your documents and appraise your vehicle to establish the amount you can borrow from us.
- Once you are happy with the amount, we will walk you through the remaining paperwork, acquiring your signature where it is needed.
- Finally, the money lands in your account in just 24 hours. Some borrowers may get the cash on the same day!
Submit Your Request For Vehicle Title Loans Today!
If you:
- have a reason for borrowing
- can afford to repay promptly
- meet the approval requirements
- tried and failed to gain money elsewhere
- understand the terms and conditions
If you think vehicle title loans might be the best way to fund your emergency, get started today. If not, we suggest exploring other options.
For those of you that think it’s a good fit, give us a call or complete our easy online request form to start the process now.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.