There are numerous options available for getting quick cash in emergency situations. But the main question is that whether they are convenient enough and can be relied upon or not, whether the process is hassle free or not. When we talk about payday loans they seem to be an easy way out to get quick cash but in reality they are not as convenient as people think because there are many drawbacks of this quick loan system.
This is the same truth with other micro finance institutions because there are numerous formalities (hidden terms and conditions also) involved in the process that completely transform the actual meaning of quick money. Beside this, the irony is that not every loan applicant is considered eligible for the loan. So applicants who are unable to fit in the eligibility criteria of these financial institutions doesn’t get the loan.
So the best way to get quick loan sanctioned is car title loan as it is convenient, hassle free, flexible and provides the borrower plenty of alternatives to repay the loan. Not only this but there is not much paper work involved in it. There are many reasons why when an individual is in need of quick money for cash crunch situation he/she should choose car title loans Los Angeles:
Bad Credit History? No Worries: The thing that frightens loan applicants the most is bad credit score. This is because most of the financial institutions don’t give loan to people who have bad credit score or if they are defaulters or have some doubtful remark about their financial background. But this is not the case with car title loan service provider as it keep the title of the car as collateral until the borrower repay the loan. Beside this the lender don’t keep the car which is an added benefit.
Easy and Quick Loan: Time is a very precious thing when you need quick cash for emergency. So when you opt for a car title loan you get the added benefit as car title loan has a very quick process. They inspect your car and do different test to know the actual value of your car and require some other formalities like your government issued identifications, no lien car title, car insurance, reference, income stub etc. After all the formalities and checks the applicant is informed within a day or two whether he/she is eligible for the loan or not. The loan amount which can be sanctioned to the loan applicant based on the value of the car varies from $2510 to $50,000.
The loan term is very flexible: Car title loan providers generally give 24 to 36 months to repay the loan amount but the biggest advantage of their service is that they don’t penalize borrowers for pre-payment of the loan amount. So when the borrower have the amount to pay the loan completely he/she can pay it without facing any pre-payment penalty and get back the car title. This is added advantage as most of the financial institutions charge for pre-payment of loan amount.
So when you need some quick cash don’t fall prey to fraudulent private lenders. Just think of car title loans Los Angeles service which keeps the process hassle free and you get the loan with so many added benefits. It’s your best bet when you require some quick cash.