Are West Palm Beach Title Loans Good Hardship Loan Options?
Hardship loans are loans that are specifically meant to be used if you’ve found yourself in a tough situation you have little recourse for getting out of.
A some of the most common causes of these hardships are losing your job and getting injured in an accident, though they certainly aren’t limited to that.
You’re looking into applying for auto title loans in West Palm Beach, FL for that very reason, but you’re just not sure if they’re right for you. You might know the answer if your other options have been crossed out.
Best Way To Deal With Setbacks With West Palm Beach Title Loans
It’s best not to be dealing with hardships by having emergency funds already in place.
Sometimes you’re also wise to borrow money from sources you can trust. These suggestions are usually the first recommended ones when you run into hardships:
- When your paycheck comes in, set aside a portion of it into a hardship savings account and budget the rest of your finances
- Borrow money out of a 401k plan if you have it
- Try asking someone you know if they’ll give you a loan
- Apply for our auto title loans in West Palm Beach, FL
We can help you if those first three suggestions are off the table, and we don’t have the tough restrictions in our title loans that banks and investment firms have with theirs.
What you need is a vehicle which could be a car, truck, motorcycle or other vehicle with a title, and we hold onto that title until your loan is repaid. While the vehicle does become collateral, you can drive it home from our agency and continue using it for your needs.
Auto Title Loans In West Palm Beach, FL Vs Cash Advances Or Payday Loans
Most typical hardship loans are for the short-term, or in some cases a very short-term and while some can meet your needs perfectly, there are others including our auto title loans in West Palm Beach, FL that can do more than the alternatives.
There are quick cash loans including payday loans and cash advances that can also meet immediate expenses, but our title loans can get things back on track in some better ways. Here’s why title loans usually work out better:
- Title loans usually offer a higher loan amount than payday loans or cash advances
Your vehicle’s equity is what determines how much you’ll get in a title loan, but it’s usually much higher than payday loans which usually range from $200-$400, while most average title loans are made for at least $1,000 and sometimes as high as $10,000.
- Title loans don’t necessarily require a job to be your income source
Most payday loans require you to have a regular place of employment including a work phone number in order to approve you.
Auto title loans in Florida usually will accept a variety of income sources and don’t need a work paycheck as proof.
- Title loans will usually have a little more time to repay
You shouldn’t use title loans for recurring or ongoing expenses because they are meant to be for temporary needs, but you will usually have a little more time which could range anywhere from 30 to 120 days to repay them, whereas payday loans usually need to be paid back within two weeks at the most.
You Can Apply For A Car Title Loan Now
If you have your vehicle title, proof of income and are 18 or older, it won’t take long to get your auto title loan money.
What you do first is give us your vehicle’s details in our online application, and then we’ll give you an estimate and then call you to have you meet our agents at one of our auto title loan stores in West Palm Beach.
Your application can usually be done within the same day and you’ll be notified instantly when you’re approved.
You’ll generally only need to wait one business day at the most before you receive your funds, but if you’ve had any difficulties applying or receiving your funds, feel free to call us.