3 Reasons to Consider a Short-Term Loan

By February 15, 2018Short-Term Loans

Maybe you’re in a bind and really need some financial help. But with so many options out there, you may be asking yourself, “Should I consider a short-term loan?” Perhaps you’ve heard about them but aren’t sure what they entail.

We are big fans of consumers doing their research and making informed decisions. We’re also big fans of transparency, educating potential customers, and advising them according to their best interests… even if that means they don’t end up with the type of loan we offer (car title loans).

There’s a lot of misinformation out there, so be careful. Unfortunately, shady lenders and unethical practices exist, giving short-term loans a bad reputation. But the truth is, with the right lender, short-term loans such as car title loans can be a great solution for immediate personal cash flow issues.

Since we mention car title loans often, allow us to explain what those are. 

Car title loans are:

  • small loans ($3K to $15K),
  • short-term loans (repaid within 24-36 months), and
  • they use your car’s title as the collateral. (That means if you don’t pay back your loan, then you may be required to give up your car.)

So you’re required to have a paid off car that you own title to. We also consider the value of your car, your income, job, and credit score.

You do get to keep your car while the loan is being repaid. And with California Auto Finance, there’s no prepayment penalty. If you pay back your loan early, the only thing you’ll get from us is a hearty congratulations!

Here are our top 3 reasons to consider a short-term loan with California Auto Finance:

1. Variety of Uses

You can use the cash from your car title loan with California Auto Finance for any reason under the sun. We’ve had customers use their cash for any of the following reasons:

  • family emergency
  • funeral/burial expenses
  • family wedding
  • student loans/career development
  • home repairs
  • medical expenses
  • quinceañera
  • and more

Sometimes the need for a loan is very personal and emotional. We understand and respect the variety of uses our customers have for their car title loans.

2. Fast Cash

With short-term loans such as car title loans, you don’t have to wait long to get your money. In fact, with California Auto Finance, you can get your cash as early as the SAME DAY! Typically, our customers receive their cash within 24-48 hours. It all depends on how quickly they complete and send in their loan documents.

The process to get approved for a car title loan: Simply fill out this form (it’s fast, easy, and FREE) and then we’ll contact you right away for the next step! You are welcome to come into our Orange, CA office and fill out the application in person. However, if you don’t live nearby, don’t worry — we have notaries that will come to YOU to finalize your car title loan!

3. Build Your Credit

Smaller, short-term loans are a good way to build or improve your credit score. Make your payments on time and you’ll have the loan repaid very quickly! Then you can reap the benefits of your responsibility as you see your credit score rise. This will open you up to the possibility for larger loans in the future.

Call us today to discuss the benefits of a short-term loan for your situation!