Credit Card Mistakes May Lead You To An Auto Title Loan

A credit card can be a great financial tool when used responsibly but when swiping that little plastic card gets out of hand, is an auto title loan your next option? Borrowing on the collateral of your automobile may get you the short-term cash you need, but will it clean up the damage you have done with your credit cards? Most likely not. Auto title loans range from $1000-$5000 and are easily obtained for those who own their car outright and hold the title or “pink slip”, have a regular job and income, and use automatic deposit for their paycheck. These short-term loans are attractive to consumers because they don’t require credit checks, can be applied for online, and are funded (in most cases) overnight. Similar to payday loans that are available online and at storefront locations, auto title loan lenders are everywhere from the Internet to your local shopping mall. They may be […]

Are You Budgeting The Right Way For A Car Title Loan?

Often times a person will take out a car title loan because they are faced with an emergency costs or are experiencing a financial setback. Unlike planning for a mortgage, car payment or vacation, someone may not budget for a car title loan because they didn’t know that they would be borrowing the money. But just because you don’t plan ahead for a car title loan in your monthly finances, doesn’t mean you can’t (or shouldn’t) budget for paying off your loan once you have borrowed. Even though the word “budget” may scare some people, having some sort of financial plan for your money is not as bad as it seems. The thought of having to organize your financial life may be a little intimidating at first but once in the habit, you may find that you enjoy having some sense of routine and guidance when it comes to managing […]

Pay Off Your Auto Title Loan And Reach For Financial Prosperity

It’s America Saves Week and time to get that auto title loan paid off! Once you have done so you can be one step closer to financial prosperity. Although auto title loans are typically short-term (anywhere from 1-6 months) it takes some consumers much longer to repay their lender. Every time you “rollover” or extend your loan, you incur interest and fees. That only compounds your loan balance and make it’s that much harder to get it paid off. What started out as a $1,000 loan could end up twice that much if you don’t get it paid off soon. Financial prosperity, defined as: successful, thriving or flourishing, is something we all want but without some sort of discipline and plan, our money has no path to take if we want to be on the road to good fortune in the future. Educate yourself and follow some straightforward techniques to get on track with your money. Paying off […]

A Car Title Loan To Meet An Unexpected Challenge

It’s may be safe to say that most people know what it’s like to have their finances shaken by unforeseen costs. A car title loan is one option that some people choose to utilize when their cash flow won’t withstand an unexpected financial challenge. Surveys show that the personal savings rate these days for American’s is close to nothing. A vast majority of America isn’t saving for retirement. On top of that, a large portion of those in low income households are lacking any type of savings or emergency funds. Car breakdowns, emergency doctor visits, home repairs and large purchases for kids are just several of the reasons someone may turn to a car title loan to help supplement their paycheck and take care of a pressing financial situation. Of course the prefect scenario would be to have an adequate savings account to meet unexpected financial challenges but unfortunately, that’s not a reality for many people. […]

Credit Scores Encouraged By Paying Off Auto Title Loan

Auto title loan debt is just one of the many budgeting issues American’s face today. When faced with a financial crisis, a consumer may turn to a quick and convenient auto or car title loan to supplement their cash flow. Title loan lenders don’t require a credit check nor do they report to credit bureaus when you make (or fail to make) your payment. Borrowing on an auto title loan means using the collateral of your vehicle to determine how much you can borrow. The average amount loaned is anywhere from $1,000-$5,000 but can reach all the way to $100,000 depending on the vehicle. Most auto title loan lenders give the borrower about 30%-50% of a vehicle’s value. This amount is determined from the Fair Market Value (FMV) of the consumer’s car or truck. Paying off your loan won’t directly affect your credit score being that lenders don’t report in the first place […]

Open A Holiday Account And Deter A Payday Loan

It may only be February but it’s not too early to start planning for the 2013 holiday season. Having money set aside for holiday gift giving could prevent you from having to take out a payday loan because you are short on Christmas cash. Often we don’t even think about holiday shopping until we are in the thick of the season and are compiling lists for our children, spouses, family members and friends. Aside from not preparing our finances, doesn’t it seem like we always spend more than we planned or budgeted for? That’s when you may find yourself desperate and taking borrowing from credit cards, money from a retirement fund or a payday loan to cover what we don’t have in the bank. Start early and have peace of mind that the money for those eagerly anticipated presents will be there when you go to make your purchases. A holiday account is a great way […]

Do Flexible Budgeting And Auto Title Loans Go Together?

Flexible budgeting doesn’t mean go out and spend what you want…be “flexible” any and every time you want to buy something. Nor does it mean you should feel free to take out an auto title loan just because you need extra cash or want to make a big ticket purchase. Flexible spending means having a budget and sticking to it, but giving yourself some leeway so you don’t feel trapped or stifled by your monthly financial blue print. For those of us who know how to run our finances, we are well aware of how much money comes in and goes out every pay cycle. Stretching a dollar may be routine for many while borrowing on an auto title loan may be the only answer for others. It never fails that once we feel comfortable with the budget we have set forth and have confidence that the bills will be paid (and […]

A Tax Refund Can Help With A Car Title Loan

Having taken a car title loan out already, you may be finding yourself in a position where you are struggling to pay it off. Perhaps you have had to extend the loan and are now feeling buried due to high interest and fees being tacked onto your principal balance. You want to to what it takes to get the loan paid off so the lender doesn’t repossess your car. Have you tried asking a family member or friend to help you out? What about selling stuff on eBay or Craigslist? Garage sales can also bring in large amounts of money. What to do? Have you thought about using your tax refund? Whether you have filed already and have a check coming your way, are in the process of plugging in the numbers, or are just getting fired up for the task of filing…your tax return could be your ticket to getting your […]

Communicating With Your Car Title Loan Lender When You Need Help

Getting a car title loan these days may seem simple, and certainly helpful, when someone needs fast cash but what happens when the money is spent and it’s time to pay back the loan? Unlike payday loans that range from $50-$1000, car title loans can be as high as $5000-$10,000. Although consumers may have more time to pay off a car title loan, it dones’t mean it’s going to be that much easier to make that payment each month. Not too mention, if you can’t make your loan payment, the lender has the right to repossess your car or truck. It’s a sticky situation and one that could cost you greatly. Most auto title loan lenders don’t really want your car. In fact, it’s more of a hassle for them to take it from you, sell it at an auction, and try and recoup their money. What they want is […]

Is An Auto Title Loan The New Payday Loan?

The payday loan industry has seen an influx of borrower’s this past decade. Although these short-term loans have been in existence for over forty years, consumers have turned to them more so than ever as a result of a declining economy, unemployment or under employment and the rise in cost of living. Payday loans offer an average of $50-$1000 depending on the state the borrower loans in and are expected to be paid with the borrower’s next paycheck. These types of loans are attractive because they are fast and easy to obtain and while the lender doesn’t require running the consumer’s credit history. Good, bad or no credit at all…most consumer’s who apply for these types of loans are approved. A new wave of lending has come along, though. One that offers a substantially higher amount of money to the borrower. Auto title loans have hit the pavement as a road more often traveled when a person needs fast cash; but more than what […]

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