If your child is approaching high school graduation, you’re probably already realizing the crazy amount of expenses you’re up against.
Senior year is not for the faint of heart. Your child is likely feeling the pressure of preparing for his or her future, and you’re forced to deal with the financial and emotional components of a child who is approaching adulthood.
Here are just some of the senior year, pre-graduation costs you need to consider:
- SAT prep and exam costs
- College applications
- Senior portraits
- Class rings
- Senior Prom
- Cap and gown
- Graduation outfit
And you’ll notice we didn’t even get to the graduation party yet. The party can include decorations, food, music, bounce house, and more. And while we think raising them to this point is gift enough, you’re still probably likely to get your child a graduation present as well.
So as you can see, high school graduation — and the events leading up to it — can be very costly indeed.
You’re not made of money. And although you probably don’t want to go into debt for graduation, you’ll do anything to make sure your child feels special and celebrated on this momentous occasion.
How to Pay for Your Kid’s High School Graduation
A title loan can help ease the burden of paying for your child’s senior year and graduation costs.
What’s a title loan?
A title loan uses your car’s title as collateral, in exchange for cash. Your car can be new or used. It just needs to be paid off and you own title to it.
How much money can I get?
Title loans are considered small loans. Our title loans range from $3,000-$15,000. The loan amount depends on the value of your car, your credit score, and your income. We want to set you up for success, so we do our best to ensure the loan amount will be right for you to pay it back on time.
How long do I have to pay it back?
Title loans are short-term loans, but we allow 24-36 months to repay the loan, which is longer than most short-term lenders.
What’s the interest rate?
Many short-term loans charge astronomical amounts in interest — 100% is not uncommon and it can even go as high as 300%! We only charge 36% APR, which is practically unheard of in our industry. That comes out to about 3% per month, which could cut your monthly payment in half compared to other short-term loans.
And feel free to call us with any questions you may have!