A title loan from Loans for Less can be a great way to get you or your family a little extra cash for a special need this time of year, but it’s important to remember that the loan process is both technical and detail-oriented. No one is requiring a PhD in rocket science to take one out, sure, but going in for a car title loan – or any kind of personal loan – totally unprepared is a recipe for financial disaster. A knowledge of basic terms is a great place to start. By knowing simple terminology and how to talk about your loan in the right way, you’ve already taken the first step toward getting the money you need without any hidden downsides. Here are a few common loan terms to be aware of:
When applying for a car title loan, the quality level of your vehicle is a very important factor. You’re borrowing money using your car as collateral against the loan, so every dollar of extra value on the vehicle is another dollar you might be able to get in your loan. There are certainly other factors involved in this process, but the value of your car is one you have a good amount of control over. Here are a few tips for maximizing the value of your car before putting it up for a title loan.
MaintenanceKeeping your car up to date on repairs and maintenance is important for all vehicle owners, but especially for those looking to keep the car’s value high. Trade-in values often reflect the higher end of the pricing spectrum for any repairs you’ve left unfinished, and there’s a good chance you’re lowering the value of the car by leaving them. If you or anyone you’re close with is capable of making some of the repairs, that’s a great option to reduce your costs. Down similar lines, a trusted mechanic can be hard to find, but hold onto them when you do – a good deal here or there could go a long way to determining whether you’re in the red or the black when it’s all said and done.
VisualRight or wrong, the appearance of a car has significant weight during the trade-in or title loan negotiation process. Body work like dent fill-ins and the like should be fully completed, and it’s never a bad thing if you get a chance to polish both the interior and exterior of the car. First impressions go a long way, as they say.
TiresIt’s common for people to neglect their tires as part of the resale process since many consider them separate or less important, but this is a mistake. Just like regular maintenance issues, most lenders will generally default to the higher end of the pricing structure for any repairs they have to make, so if you can get this done yourself (especially if it’s for a relatively fair price), you’re likely to come out on top.
DocumentationPerhaps most importantly, being able to show proof of your upkeep on your car is a huge deal. Uncertainty can cause lenders to lower the return price on the car, but there can be no confusion if you have documented records of all service completed. Want to know more about increasing car value, or any element of car title loans? At Loans for Less, our lending is fair and keeps your individual situation as the top priority. Contact us today.
There are many ways to get money quickly when you’re in a bind, but perhaps the simplest is using a personal or signature loan. These require no collateral, typically have low interest rates, and can be completed quickly to get you the cash you need. For signature loans, the name is the reality – all you need to get your cash is a signature. At Loans for Less, we offer a full range of personal and signature loans for people who need quick cash. What are the specific benefits of a personal or signature cash loan? Let’s take a look.
FlexibilitySignature loans and personal loans are meant to get you some quick cash with as little hassle as possible. You’re not putting up your car, your house or any other collateral, and there’s no requirement for how you spend the money you receive – you have complete control over how it’s put to use. Personal and signature loans do require solid credit since there’s no collateral involved, but those who qualify are opened up to a new layer of temporary financial freedom. These loans can allow you to clear some debt, make a large but necessary purchase, or make a one-time emergency payment.
Lower Interest RatesBecause there’s no collateral and these loans are based on credit alone, interest rates are generally far lower than other kinds of loans. Their terms are usually shorter, which means your monthly payments might be higher than other kinds of loans, but you won’t be forking over tons of extra interest to get the cash you need.
Fixed Interest RatesPerhaps even more importantly for people who struggle with finances, most personal and signature loans come at fixed interest rates. This means your rate can’t change regardless of how much you spend or repay on the loan, a very big deal for some people who can’t afford any month-to-month variability in their spending habits.
Can Improve CreditIn many cases, a personal or signature loan can actually improve your credit. Interest rates on these loans are often lower than most credit cards, and people who have run up a high credit bill from one or two large bulk purchases can use personal loans as a way to increase the amount of credit they have available. Because credit utilization is such a big part of what goes into your credit score, this can help the score go up in many cases. To know more, or you are interested in a personal, signature or car title loan contact Loans for Less today, where our friendly and professional staff are standing by to assist you.
An auto title loan, or title loan, is a secured short-term loan that requires the borrower to put up a vehicle he owns as collateral. The borrower allows the lender to put a security interest on the vehicle’s title, which will be lifted as soon as the borrower completes payment of his loan. If the borrower fails, the lender can sell the former’s car to pay for the amount he owes.
Just like treatment expenses for a health condition that’s not covered by insurance, people can turn to loan agencies that offer topnotch title loans in Salt Lake City for financial emergencies,. However, with a loan comes the weight and responsibility to pay off the loan in full and on time. That in mind, personal finance writer Ben Feldman offers a few tips:
There are certain situations where a household can be challenged by financial woes. The recession of more than five years ago has put a lot of families who had led comfortable lifestyles in a myriad of financial problems.
Certain occasions call for the need to take out loans. Title loans in Utah are some of the most popular options for cash-strapped individuals. In response to certain misconceptions about the practice, Vanderbilt University published an article that sheds light on the benefits of this loan product.
You may follow a strict budget to make ends meet perfectly from paycheck to paycheck. Unfortunately, the delicate balance of such a budget can be ruined by an unforeseen expense or emergency. When thrust into such a situation, many people try to secure a loan. However, getting a loan from a bank can be difficult and time-consuming due to all the documents a bank may require. The worst part is that a bank loan application is not guaranteed to be approved.