Finding Cash Fast when you Have an Emergency
I never thought it would happen to me, but it did. Now I know what being caught blindsided means. I was always very careful with my money. I diligently created a written budget every month. I allocated my income to each bill, even having a little going to savings for an emergency. But then it happened and happen again.
I could of sustained the first emergency, I was ready for it. I put the money away, I had it ready to go. The first problem was my car. It’s a ten year of Ford that ran pretty good. On my daily commute of 55 miles it was reliable and never let me down.
Luckily it happened on a Friday, I had the weekend to make the repair. A water pump had blown on my Ford. It cost $275 dollars, labor included. I wrote the check out of my emergency fund cash. That’s what the money was there for and I was relieved when driving away from the repair shop and a little proud of my self for having the money.
The weekend was going well. We saw some friends and enjoyed our time together. I drove my wife’s car and when driving home I heard that crunching sound that only metal on metal parts make. It was coming from the front left tire. It sounded like the brakes were loose. Sunday morning I found a mechanic to look at the car. He said the brakes were worn worn but the real problem was the wheel bearing. They were completely gone. Only the caliper of the brakes had held the tire in place. For $356 all could be made right again. I didn’t have the money. The emergency fund was cleaned out on my car repair.
No cash or credit cards to pay for the repair left me a little anxious. Next to the market, I shop at, was a place that would lend money on your car title. I had my car title, so I went in there. I filled out some papers and handed over my car title. I had my money. When you are ill prepared for an emergency you will find yourself quickly getting cash out for your car’s title.
The least preferable way of financing is car title financing. By its nature, it is a “last ditch” effort to avoid significant monetary problems. The only time car title financing needs to be utilized is when you have a need for cash quickly and for only a short time. You should check out every other source for a funding before jumping in.
Using a private firm instead of a bank is because banks are restricted from lending on vehicles, and providing cash on a vehicle title. Title lenders have the ability to loan money on practically any sort of vehicle.
What’s the Procedure to get the best loan?
Take the automobile you want a loan on as well as the title , and go to at the very least 5 title financing businesses. Ask what the requirements are for the loan, how much they will lend on your vehicle, as well as the payments and prepay amounts are.
Choose the firm you want to work with. The application procedure will generally include a form to fill out. In addition, you will be asked to show evidence of your home address. Soon after they process your application you will receive your money.
As a component of your lending, you will certainly be called on to pay for the title transfer, which is around $65.
Paying Back the Title Loan
Make little repayments throughout the month. If you had a money problem prior to you taking out the funding, the possibilities of making it worse is something to worry about. If you don’t pay the firm in time, they will take your car.
Category: Loans
