For some people, a car is simply a mode of transportation and nothing more. It gets you to work, it gets you home, it does the speed limit. That’s not how things work for the rest of us, though. If you’re like me, your car is something you love; it’s your escape from boredom. I’m not endorsing going over the speed limit… but hey, on a nice summer day, sometime you just have to go for a cruise with the windows down.
If you’re anything like me, you like to take good care of your ride. I give my car regular washes, I always make sure the oil is changed on schedule, and I take it in for a tune-up every couple of years. I take pride in pulling up to somewhere with a shiny, freshly-tuned machine that’s running at peak efficiency. I know that my car will last a long time, and I know I’m proud of it, but what I found out the other day really surprised me. I learned that my car can actually help me borrow money.
A friend of mine told me about car title loans, which are a type of loan that can be obtained by leveraging an auto title as collateral. Doing this allows people to take out loans without going through a credit check, which was pretty big for me, since my credit score isn’t exactly perfect. Also, I learned that the amount of a title loan is based on the value of your car, so if you’re like me, and your car is in good shape, you can use it to get a pretty big loan. In fact, the maximum amount for a title loan is $50,000, which is a lot for a bad credit loan.
I don’t know if I’ll immediately use my car to take out a title loan, but if I ever need money, I know exactly what I will do. I’ll get and instant quote online and get fast cash, and I’ll be able to keep driving my car the whole time. If you keep your car in good shape and you need cash, you should seriously consider doing the same.