The best part of a low interest title loan is how easy it is to use. With no terms limiting what you can and can't use the cash for, you have free reign to put the money where you need it most. It's called a personal loan for a reason - you get to use it how you want! We've see customers use it for everything, but below are five of the main ones.
Bills have a tendency of piling up. You have your rent, and the cable, and the water, heat, gas... if you are a student you have loans to pay off, maybe a car payment. You add all those together it can equal a decent amount of cash.
Plus there are the late fees. We've all been there, put a bill in the wrong pile and all of a sudden its way past its deadline and you have a late fee. Then you do it again and they double your payment or increase the interest on your credit card.
To keep the bills at bay and your interest rates low, use the money you get with your title loan to pay them all back.
Title loans can also make it easier to get the new car you need or put a down-payment on the boat you promised yourself you would get. Instead of taking a loan out on the vehicle itself, use the title on your old car to help make it easier to purchase the new one outright. Sure, you won't get the exact amount you need, but if you have been saving properly, it can give you the final bit and bring your dream to reality.
Putting the loan on your old car also will keep the payments low since it won't be such a large amount. Plus if you don't have any credit, it provides you with a great way to earn some.
The roof leaks, or the garage needs a new door, or its time to pull down the dead tree in the backyard before it falls on the house... these are just a few of the things you could put a low interest title loan towards. We've seen some customers renovate their whole home using the cash they get. Some have even done away with their mortgages and purchased their house outright.
It's never too early to start a retirement fund, and if your job doesn't offer a good plan, this could be your plan. Get the cash you can from your title, but instead of using the money, start an IRA or Investment plan for later. You never know when that money could come in handy.
The final way you could use the cash from a low interest rate title loan is to not use it at all. Stick it in a savings account and forget about it. Just like with the IRA, you never know when an expense could pop up you weren't planning on. With the money in a savings account, you can pull it out when you need it most. So think about applying now, while the rates are low, just to give your finances a bit of a boost.
In the end, it doesn't matter how you spend your low interest title loan, as long as you spend it where you need it. So find one with terms you agree with and a good low rate and put some cash in your pockets for once.
By working with our lenders, you could end up saving up to 20% on your repayment, and eliminate the risk of being taken advantage of.
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