When Should You Get a Car Title Loan in Ontario?

According to a recent survey, more than 50% of Canadians are currently living paycheck to paycheck. The same survey also found that only about two-thirds of Canadians make enough money each month to pay for essential items like housing and food.

If you’re experiencing financial trouble at this time, you might find yourself in a tough spot if any unexpected expenses pop up. But you should know that there are things you can do when you need money now to pay for something in Ontario.

Taking out a car title loan will be one of the best options you’ll have if you own a vehicle outright. You’ll quickly discover how easy getting a loan can be when you need cash now.

There are many good examples of times when you should look into applying for auto title loans. We’re going to break down several of them for you so that you can see when securing a car title loan might be in your best interest.

Discover when you should start filling out applications for these Canadian loans below.

You’re in Need of Auto Repairs

Did the check engine light just come on in your car? If so, you might have a knot in your stomach right now because you know how difficult it is to pay for gas for your car at the moment, let alone auto repairs.

Fortunately, you can use your car as collateral so that you can have the necessary auto repairs done with a car title loan. Auto title loans are the perfect solution for those facing auto repairs that cost more than they can afford.

You Want to go on a Well Deserved Vacation

There are times when really good travel deals come up that have to be acted on quickly to take advantage of, or a group of your friends or relatives are taking a vacation that you would like to join them on.

These vacations will create lasting memories that you will cherish for years. There is always fear of missing out when others that you know go on the vacation, but you cannot joint them because of short term cash problems.

By sharing accommodations, joining in on package deals and other creative solutions, as well as getting a tile loan for the needed funds you will not be left behind and miss a great vacation.

You’re Late on Utility Bills

It can get to be very cold in Ontario and Canada as a whole at certain times of the year. So the absolute last thing you want is for your utilities to get shut off simply because you couldn’t afford to cover your utility bills.

Taking out a car title loan is a great way to catch up on things like utility bills so that you don’t put yourself at risk of having your electricity or gas shut off. You’ll be able to live in your home comfortably thanks to the auto title loans that are available out there in the world.

You’re Struggling to Pay for Food

According to a recent report, Canadian families are expected to spend $1,000 more on groceries in 2023 than they did in 2022. And that’s really saying something when you consider how much groceries cost in 2022.

If your grocery bill has gotten to the point where you’re having a challenging time paying for it each week, a car title loan might provide you with the financial cushion you need. It can help you get your hands on the food you need to feed your family without breaking the bank.

You’re Dealing With Emergency Home Improvements

Was your roof damaged during a recent storm? Did your basement flood? Or are you dealing with another issue in your house that’s going to require an emergency home improvement?

Whatever the case, you may not have enough money sitting in your savings account right now to cover a cost like this. It might force you to live with a damaged roof or a flooded basement for longer than you would like, which can cause even more problems within your home down the line.

A car title loan will provide you with the cash you’ll need to pay for any of the types of home improvement projects we just mentioned. You won’t have to worry about trying to wait to tackle them later on.

You’re Getting Hit With Other Surprise Expenses

When you’re living paycheck-to-paycheck all the time, even the smallest surprise expense can throw your finances all out of whack. An appliance in your home can break and put you in a position where you might not be able to afford to have it fixed under normal circumstances.

When these surprise expenses hit, you’ll be happy to hear that auto title loans will be there to keep you covered. You can apply for a car title loan in a matter of just minutes through a lender like Fast Action Finance and obtain the money you need to keep yourself afloat.

The financial freedom you’ll feel when you qualify for a car title loan will be unmatched. It’ll prevent you from having to live in fear of unexpected expenses all the time.

Apply for a Car Title Loan Through Us Today

Do you think you could benefit from taking out a car title loan in Ontario? Fast Action Finance is here to help you get approved for one.

Regardless of what you plan to use a car title loan for, we can set you up with the cash you need fast and provide you with a simple repayment program that will be easy to understand.

Contact us today to get more information on how car title loans work so that you can decide if taking one out would be the right move for you to make.