When customers come into one of our locations, one of the things they want to know right away is how title loans work. The way they work is simple but is it right for your particular situation? If you are struggling to find a solution for you financial hardship or maybe just need some quick cash to cover a purchase, there are a number of benefits to getting a cash loan. Below we outline the benefits as well as the possible downsides of one of these loans.
The Benefits of How a Title Loan Works
Many people with a steady income and that own their own car can benefit from taking out an auto title loan when they need cash, fast. An auto title loan is a great way to borrow money all you need is a car or other collateral with a title. Titled collateral such as motorcycles, boats, ATVs, trailers, and more often qualify as well. In exchange for you for handing over your title as collateral, you can get cash.
It’s Fast: Within 30 minutes, you can get approved for a title loan and be out the door with the cash you need.
It’s Convenient: We get that you’re busy, so we make it really convenient to apply for an auto title loan. You can apply right here on our site, in person at one of our Arizona, New Mexico, or California locations, or by phone.
It’s Easy: There are limited requirements. We, of course, run a quick credit check but we work with customers that have good credit, bad credit, and no credit history at all. So don’t let the idea of a credit check deter you from applying.
It’s Cash: For unexpected costs, purchases, or financial hardships. Using a title loan can help you pay off expenses that will get you through tough times.
Pay it Back: We work with you to create a personalized payment plan to get the loan paid off and your title back.
Is a Title Loan Right For You?
As you have learned so far, this type of loan is great for a temporary financial situation. Work with us to create a payment plan that would work best for you in order to stay on top of payments as well as to build good credit. If you don’t think you can pay off a cash loan, that would be the downside to getting one in the first place. Don’t hesitate to come in and have a candid conversation with one of our knowledgeable staff members because we can offer you options you might not have thought of. We strive to provide our customers with the best interest rates and the highest loans amounts in the business.
How to Get a Title Loan Now
Start by applying. Once you have been approved, bring your car title, driver’s license, and proof of income (like a pay stub) to your nearest Tio Rico Te Ayuda location. We don’t keep your car during the duration of the loan, it’s your car, you keep driving to where you need to be. To learn more, visit our Title Loan page or contact one of our knowledgeable staff members.