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Emergency Car Title Loans – The Benefits for Urgent Expenses

When money is tight and you have urgent expenses to pay, your car can be a valuable source of cash. Lenders who specialize in emergency car title loans can provide the money you need in exchange for the title to your vehicle, such as your car, truck, or SUV.

This can be a valuable opportunity, especially if your credit score isn’t high and you have immediate costs to cover. With a car title loan, you can leverage the equity you’ve built up in your car, putting it up as collateral in exchange for the funds.

Not sure if this type of loan is for you? Today, we’re sharing a little more about how the exchange works and some of the benefits of using it to cover emergency expenses. 

What Is an Emergency Car Title Loan?

There are two main kinds of loans: secured and unsecured. Secured loans are backed by some kind of collateral. This can be a physical asset (like your home or car) or a financial asset (like stocks or bonds). 

If you default on a secured loan, your lender in extreme circumstances can gain ownership of that collateral. You have the lender’s money and they have a a lien on your asset pledged as collateral. I creates mutual respect. This is an incentive to pay the money back in full on a timely basis, all within the designated loan repayment period. 

On the other hand, unsecured loans do not require collateral. Without some type of property on the line, lenders instead look at an applicant’s financial history, checking factors such as their:

• Credit report
• Credit score
• Debt repayment history
• Debt-to-income (DTI) ratio 

An emergency car title loan is a type of secured loan. When you apply for one, you will provide the lender your vehicle registration so they can verify that their is no prior lien registered against your vehicle that you are pledging as collateral. The lender will typically not keep the original registration (ownership) and only keep a copy of it. 

With so much on the line, you might wonder if you should pursue this lending option. There are benefits to going this route, so let’s take a look!

Money When You Need It

Arguably the most important reason to apply for an emergency car title loan is the speed and ease of the transaction. If you were to apply for a standard personal unsecured loan through a conventional lender, it will take signifcant time and many documents and forms will have to be filled out, and may questions answered, and vefifications will need to be completed. Only then will your application be approved.

When you have an emergency expense to cover, you can’t afford to wait that long. These are costs that you must pay for as soon as possible, or serious setbacks could occur. From busted bathroom pipes to a much deserved vacation, time is of the essence. 

An emergency car title loan is always approved on the same day as you apply, sometimes in just a few minutes! Many of these lenders operate online, so all it takes to apply is completing a short digital form, submitting the required documents, and waiting for your approval. You don’t have to come into an office or leave your home at all to complete the process. 

When you partner with a company like Fast Action Finance, you can enjoy same-day approval and instant cash! We’re transparent with our terms and pricing, and you’ll never have to worry about paying any upfront fees to access your funds.

Keep Your Car

If you apply for another type of secured loan, you may have to give up the collateral during the repayment period. However, that isn’t the case with most car title loans. 

Many lenders, Fast Action Finance, will allow you to keep and drive your car while you’re still making payments on your loan. For many people, their primary vehicle is their only vehicle, and relinquishing control of it could significantly impact their daily lives. 

We understand that your car is a necessity and that you need access to it. Not only will we let you use it, but we won’t install any type of GPS tracking system on it or ask you to turn in your key. This is a perk that many similar loans don’t offer, which makes an emergency car title loan a viable option, especially when you’re in a pinch. 

No Credit Checks

Are you still working on building up your credit? No problem. While both unsecured loans may require a credit check, most secured loans allow you to skip this step. 

If you’re using a car as collateral, that’s proof enough that you’re a creditworthy applicant. You don’t have to worry about being denied simply because your credit isn’t where it needs to be yet. Many lenders in this space, including our team, will even approve you without a minimum job requirement. 

We know that when you need money, you need it yesterday, and we’re ready to work with you — no demands required.

Secure and Confidential

When you find an online lender you trust, you can rest assured that every step of your application will be handled quickly, securely, and confidentially. This is why it’s so important to choose the right lending partner. 

While you need to act quickly, it’s still smart to do your due diligence. Choose a team that’s well-reviewed and reputable in your local area, with a history of serving clients with professionalism and integrity.

At Fast Action Finance, we’ve proudly served Ontario residents for more than 26 years! You can read our client testimonials on our website to hear what others are saying about our services.

Learn More About Our Emergency Car Title Loans

When you need to cover an expense ASAP, it’s time to find a lender you can trust. While you have many different lending options, emergency car title loans are some of the quickest and most efficient. 

With these loans, you’re only a few clicks away from securing the funds you need, when you need them the most. Our team is proud to offer competitive terms, friendly service, and the best interest rates around!

Complete our quick contact form to learn more or ask us a question. When you’re ready to apply, you can do so right on our homepage!