How Title Loans Work: Emergency Cash Loans You Get Quickly
March 8, 2021 | Emma Frost
Here's what matters most when you're facing a financial crisis - quickness, convenience, and credit-friendliness. But with the economy as unpredictable as it is right now, many people in Mississippi are searching for emergency cash loans to cover their bills. In these unprecedented times, it's hard telling what will happen next. So, knowing where to go and what to do certainly helps.
What Are Emergency Cash Loans?
Emergency cash loans are fast money advances for average consumers who prefer not to involve their credit for cash. They're used for unexpected expenses and emergent situations wherein traditional bank loans would be illogical.
The best emergency cash loans are quick, convenient, and easy to get. They're also generous in providing enough money to cover the bills. Take title loans, for example. In Mississippi, you can get anything between $300-$2,500 on the spot if you qualify. The repayment schedules are flexible as well, giving you even more power over your budget.
What Can I Use Title Loans For?
The emergency cash loans you get with title loans can be used in a variety of ways. As long as you are just using this loan for emergency situations, you can find a lot of assistance from them.
If you are going through issues like injuries or medical procedures, your title loan can help pay off those bills. If you suddenly have to have home repairs, your emergency cash loans can help with that. Even if you have some emergency travel to do to help a sick relative, your title cash can help you out with that.
How Do Title Loans Work?
Title loans are popular emergency cash loans because they provide a rapid lump-sum payment when you need it the most. Usually, you can keep possession of your vehicle while the loan is still in good standing. So, getting emergency cash loans won't disrupt your life nearly as much as selling your car or opening a line of credit might.
The great thing is you can get a loan for your car title even if you have bad or no credit at all. On the same token, it helps to know how the process works even if it's been simplified for your convenience. At Mississippi Title Loans, Inc., the goal is to make things as quick and painless as possible for the applicant. So, this is what you need to know to benefit from that:
- Step 1: Go online or visit the office to apply. Your options for submitting an application are conducive to any lifestyle. You can either go to the office and fill one out in person or hop online to get it done quicker. Then, the agent in charge of your contract will call the phone number you provided to discuss your next steps.
- Step 2: Wait for the answer and your next steps. Waiting is hard to do, especially when you need emergency cash loans as fast as possible. However, this part of the process is speedy and is usually based on your unique schedule. The representative will use this call to set up a good time for your on-site vehicle inspection either at a location of your choosing or at the nearest Mississippi Title Loans. But don't worry because that process only takes a few minutes too.
- Step 3: Meet with your title loan representative. At the appointed time, your loan agent will arrive to inspect your vehicle and collect your required documents. Bring your government-issued driver's license or photo ID, the lien-free title of your vehicle, and your car for a quick inspection. Once the representative has looked everything over, they will determine how much you qualify for and if you qualify for approval. If you do get approved, they will go over your loan agreement and make sure you understand everything.
- Step 4: Ask questions and get answers. Prior to signing the loan contract, be sure you understand the terms. In Mississippi, borrowers can ask for a lot of cash but there are some stipulations. For example, applicants must be at least 18 years or older to get approved. Plus, the vehicle can't have any liens or judgments against it either. If you're old enough and own your vehicle outright, this might be the best option out there.
- Step 5: Receive your money on the same day you get approved. Financial emergencies require rapid solutions like these, so you get your cash on the same day. Since a title loan uses your car as collateral, there's no need to wait around for bank approvals. Once you sign the finalizing documents, you can start paying important bills and preventing upheavals almost immediately.
Unfortunately, unexpected financial emergencies are not rare. However, staying broke even when you can find emergency cash loans might be. Take a stand against debt with smarter financing options.