If you’re relying on your next payday to cover your urgent expenses today, you might be just prolonging your cash crisis. When you get caught living form payday to payday, you can get stuck in that merry go round of never being caught up with your bills and expenses.
One way you can help take care of today’s cash emergencies is by applying online for a personal loan that uses your car’s value as quick and simple collateral. It takes the risk away from the lender, because it is a secured loan. Secured loans with less risk are much easier for a user to get with any credit type.
Bad credit applicants as well as anyone else who needs emergency cash is welcome to send in a request for car title loans today. By going to an online lender, it’s possible to send in the online application any time – the website with the application form is always available. By spending a few minutes submitting a short inquiry form, anyone can be on their way to a fast cash loan.
Getting the cash loan can be quick and when it arrives in your bank account, there aren’t any stipulations on how it must be used. Whatever bills or needs you have, you can use the cash to help ease the cash crisis.
How Much Emergency Cash Do You Need?
Getting fast cash loans online can be an answer to today’s money problems, but it’s a good idea to calculate how much money you need. You can do this by quickly making a list of urgent bills or expenses that can’t wait.
At the same time, figure out how much you can afford to borrow. By running the figures, you can tell if you will be able to manage a monthly payment. If you have disposable income that can be used to pay off a cash loan, it’s important to know how much you can handle.
These are just logical tips to help you get the money you need today and to be able to easily pay back the monthly payments. Below are some ways to get started on your quick cash loan.
Calculating urgent needs:
To realize how much urgent cash you actually need for today’s cash crisis, sit down and write out a list of expenses and how much they need. Then look at the list and decide for himself if the expenses are necessary and if they must be taken care of immediately.
Sometimes when you look at your financial situation in black and white, you can find solutions, such as breaking up larger bills into smaller chunks or paying the most urgent items but leaving expenses that can wait until your next payday.
The point here is to not borrow more money than you actually need. Once you are pre approved for quick cash online, you can get a loan agreement with the loan amount. If it’s the loan amount that you need, you can accept the offer knowing that it will meet your needs.
If the loan agreement is not for the amount of quick cash you need, you can negotiate with the online lender.
Managing monthly payments on cash loans online:
The best way to determine if you will be able to handle the monthly payments on instant cash loans is by making a list of your income and expenses. It’s better for you to know how to handle the payments before signing a loan agreement.
Listing your monthly income and known expenses:
Any list will begin with the amount of money you earn every month. Write down all the places that you get cash from and each amount. If you are not sure, you can check your recent bank statements. Sometimes you get more money than you realize when you include government subsidies, social security, divorce settlements or insurance payouts.
When you have listed all the income, get the final monthly total. In a second list, begin to itemize your expenses. This list is harder because sometimes spending is done on impulse and not according to a budget.
Begin with known expenses that can include rent or mortgage payments, utilities, home and auto maintenance, gas for your car, insurance costs etc. You may need to estimate food and clothing, since they can change from month to month depending on the season and special needs.
Now the hard part – if you keep cash in your pocket and buy a soda and snack each time you fill up the gas tank, you might be spending without realizing it. Try to make an accurate list of how much you spend on fast food, snacks, lunches etc. If this is a part of the money you need each month, you need it add it in.
When you subtract how much you spend from your available income, you will find out how much you can afford to send in each month on payments for a cash loan online. Learning what you can pay is a valuable lesson that will help you keep your finances on track going forward. You can seek credit counseling for further help with managing your money.
If you see that the monthly payment in the loan agreement does not match up with what you have available, negotiate with the online lender to get to a sum that is doable for you.
Understanding the Ins and Outs of Online Car Title Loans
The way vehicle loans work is pretty simple, which is why they are so fast to apply for and easy to get quick approval. They are the opposite of unsecured loans. With unsecured loans, a lender has to trust the borrower and believe that the loan will be repaid according to the repayment period, with no proof or protection.
Secured loans give the online lender a way to get the money if the borrower is unable to finish paying off the loan for any reason. Why the user is unable to complete the payments according to the schedule doesn’t matter, but the lender must be paid. In this case, a lender has the right to take possession of the actual vehicle. It can then be sold according to market value to cover the remaining instant cash loan costs.
That is the worse case scenario, but it can happen. It’s important to know the risks involved for both the borrower and the lender before signing a loan agreement. However, assuming that the borrower will pay the loan back according to the signed contract, a fast cash loan online is a win-win for both sides. The lender is eager to process a title loan because it is a secured loan. The borrower gets to keep the vehicle and have cash advance in the bank account.
As security that you will repay the loan amount, the lender will be required to keep your vehicle title. You can pay off the entire loan sum and then when the payments are completed, you can retrieve your vehicle title free and clear.
The loan proceeds can be used for anything. The online lender is not concerned about how you spend your quick cash loan. Online lenders want to help you get the money you need and then you get to decide for yourself how to spend it.
Getting Started with Online Cash Loans
It takes only a few spare moments out of your busy schedule to send in your online request for quick cash loans. Once you’ve sent in your application form, your job is finished. The lender will let you know if anything is needed as your loan approval is underway.
Because of the streamlined loan process, the loan approval can be performed quickly. As soon as the lender’s customer service representative has gone over your online inquiry form, you will get the lending decision. If you want to get the loan amount and can abide by the terms listed in the loan agreement, you can sign it and get ready for the next step.
To accept the loan amount, you will need to submit your vehicle title to the lender. When the loan company has prepared the final approval, you can get a direct deposit of the loan funds to your bank account. Without waiting another minute, you can use the quick cash for whatever urgent needs you have.
Taking the simple and quick steps:
- To apply online, you simply go to the website of the title loan lender. Open the inquiry form and begin to fill in the blanks with your basic details. The type of vehicle you have is also important, since its value is what you will use to secure the cash loan online.
- From here on out, the lending company will give you instructions to follow. If you are pre approved for a car title loan and you get a loan agreement to sign, you will need a few minutes to read it. When finished reading it if you want to accept the money and the terms, you only need to put your signature on it and let the lender know to move ahead with your cash.
- Submit your vehicle title to the lender for safe keeping until the loan has been completely paid in full. After reviewing all of the documents and personal financial details you submitted, the lender will issue a final approval.
Those are the simple and fast steps to the online loan process. At the end of the approval and funding process, you will have the emergency cash to cover your important financial needs.
Documents to Send with Your Online Loan Application Form
It makes sense that the loan representative will need to check your personal finances and other facts before your loan application can be approved. To speed through this step, include everything that might be required from the get-go. The loan company knows you want your cash fast, and they can help you get it quickly when you include necessary information and documents.
This is only basic information, but if more detailed documents are needed, the customer service department will let you know. Nothing they require is complicated, so it won’t take you a long time to gather what’s needed.
Start out with these simple requirements.
- Minimum age requirement – 18 years old
- Photo ID – A government issued ID: driver’s license, passport or state ID
- Vehicle title – If it’s a motorcycle, a car, a truck, an RV or a boat, it must have a valid title to be used for loan security. The lender will next confirm that the vehicle is yours and that there are no other owners or liens against the auto’s value. If you cannot find your vehicle’s title, it has been damaged or the name listed as its owner is not yours, you can go to the DMV near you to get it fixed. Be sure to take your vehicle documents with you so you can prove you are the sole owner of the vehicle in question.
- Income – When the lender checks that amount of income you receive each month, it will also need to be verified. Besides just sending the total amount of income, break it down into the sources. For each source where you receive money send a way to prove it. For instance, for the income from jobs you can send the salary stubs that show the payments. If you get money from other sources, send official documents or copies of your recent bank statements. The amount of income will help the lender know the loan amount you will be able to pay back each month.
- Details of the vehicle – According to the specifics of your vehicle, the lender can evaluate it. The model, style and year will be checked with Kelly Blue Book, and after that the specifics will be reviewed. The number of miles you drove the vehicle, it’s general condition, how well it’s been maintained and if it’s been in wrecks before will all affect its final value. If more documentation is needed, you might be asked for photos, an inspection or a copy of your vehicle insurance.
- Residential address and email address – For quick and easy correspondence the lender needs your exact address. Your address should match up with the state on your registration and the state where you live.
- Bank account – include the name of your bank, the name your account is listed under and your bank account number. This will not only be needed for a direct deposit of your fast cash, but you will also be able to use your checking account to arrange a direct and automatic payment system. If your monthly payments go through automatically, you won’t need to worry about forgetting or paying late fees.
These are the basics to getting started. The application and approval process should go fast, according to the above requirements.
Online Cash Loans with Bad Credit or After Bankruptcy
If you had to file for bankruptcy at some point in your past history, that does not mean you can’t be approved for a quick cash loan online. Some courts might dismiss your debts and give you a clean slate while others may reorganize your debt. At any rate, if the bankruptcy proceedings are finished but you need a quick cash loan, you are welcome to apply online for a fast cash loan today.
Online car title loans are available for users with bad credit as well. Just because you went through credit difficulties in the past does not mean you will be turned down for an online loan.
The credit criteria that online lenders use tends to be on the flexible side, so even if you might be turned down by a bank or credit union, you can still be approved for cash loans online. Online lenders take time to look at your complete credit situation currently – the way it is today – to give a lending decision.
Factors for loan approval:
- Value of your vehicle: First and foremost, the representative needs to confirm that your vehicle has a high enough value to be used for a secured loan.
- Amount of monthly income: Neither you nor your lender wants you to get in over your head with monthly payments you can’t afford. Your income sources will be verified to confirm that you will be able to repay the loan funds.
- Lender’s credit criteria: Using the loan company’s own credit criteria, you can be easily approved. It’s easier to be approved with the credit criteria that online lenders use.
Now Is the Time to Request Quick Cash Loans
Anytime you are feeling the cash crunch and you need an instant cash loan, you are welcome to apply online at 5 Star Car Title Loans. Go to the website, fill in the form and submit it for immediate review.
You can get the quick cash loan you need without all the hassles of a traditional loan with help from the friendly customer service team. They will be happy to give you a fast lending decision.
Reach out to 5 Star Car Title Loans today!