5 Common Reasons for a Title Loan

By April 15, 2018Title Loans

Most of our customers don’t come to California Auto Finance for a title loan because they want a little extra money in their pocket.

Title loans are most often used to access funds quickly in case of an emergency or major life event.

We’ve created a list of five common reasons for a title loan, and we’ll tell you how California Auto Finance can help in these situations.

5 Common Reasons for a Title Loan

1) Medical Expenses

If you or someone close to you needs significant medical care, it can be hard to raise the funds necessary on short notice, especially if your health insurance does not cover everything you need.

Title loans are processed quickly so you can have the money you need when you need it. Unlike other types of personal loans, the only collateral on your title loan is the title itself — you get to keep your car throughout the life of the loan.

2) Home Repairs

Burst pipes, cracked tile, broken refrigerators… they all happen without warning, and they all cost money. Inconveniences at home can wear on you and your family if they aren’t taken care of.

California Auto Finance can create a loan schedule that allows you to pay for your home repairs now and spread out the loan payments over 24-36 months. Don’t sleep on this opportunity, especially if your roof is leaking into your bedroom.

3) Weddings

California sunshine is free, but everything else is expensive when you are planning and paying for a wedding.

We will be happy to help you pay for the big day with a title loan. The loan amount you qualify for will depend on factors like the value of your collateral, as well as your income and credit history.

4) Funerals

When a loved one passes, you want to make all of the appropriate arrangements efficiently and respectfully. A short-term title loan can help with all of the necessary expenses right away, without burdening you with a difficult payment schedule or inflated interest rates.

5) Debt Consolidation

If you are facing high-interest debt from one or multiple sources, a title loan can help you consolidate your various payments under one roof.

Simply use your title loan to pay off your existing debts and pay one bill — all while still keeping your car.

California Auto Finance provides short-term loans with interest rates and loan durations designed to fit your needs. At California Auto Finance, your APR can be as low as 36%, or just 3% per month.

Interested in learning more about title loan interest rates? Give us a call at (800) 690-6948 or apply for a title loan here.