Author - Fast Action Finance

Use Public Transit or Drive Your Own Car, Win With Title Loans

With today’s move towards saving the planet and using less non-renewable energy sources, such a s fossil fuels, the debate continues on whether to take public transit or drive your own car. Taking Toronto as an example, if you live near a Toronto Transit Commission (TTC) station and your work is also near a TTC station, then it is an easy decision to not take your car to work. If you and your work are not close to a TTC station, you can still take a bus or street car by themselves or in a combination with the subway. Also, if you need to take a bus that causes you to wait for the next bus, you can always consider using Uber or Lyft when the next bus’s arrival time will make you late. I would not suggest using this ride share service too often, but now and again to avoid being late can still work.

The city of Toronto is attempting to make it easier for transit users get around and are currently in the process of building new subway lines and stations. There are other ways that people can avoid the brutal during peak periods.

There are several apps available that help commuters see where the traffic is and decide on the best route. The tools show drivers where the traffic holds up are, but if everyone is looking at the same or similar app they will take these suggested routes and these too will become congested.

Another solution is to car pool. However, if you are the only one who does this then you and your shared riders will be stuck in traffic together. The upside is that you will have somebody to keep you company. The QEW has a designated lane for higher occupancy vehicles on some parts and hopefully other major routes will have the same thing soon as well.

Have you ever considered working at home? Many people are asking to be allowed to work from home and some businesses are even insisting that their employees work from home to save on office costs. Working from home, even some of the time, saves many hours of commuting time and takes your vehicle off the road. This not only solves the commuting problem for you, but also helps the others who are stuck in the daily commute.

Shift work, with your work time starting and ending off peak hours is another way to avoid the deadly commute. Stagger your start and finish times to periods that the roads are quieter. Even moving your start and finish times in an earlier or later direction by a few hours will give you unhindered use of the otherwise congested roads and highways.

Moving out of the city to get another job and having a pleasant leisurely commute is another option. Scour the employment job postings and find a similar of better job in a less hectic community. This will give you the opportunity to choose your new living place around where you know you will be working. There are many small regional cities in Canada that are very desirable to live, work and raise a family.

But, if you must own a vehicle and commute to work, then there is one upside to all of this. You can use your lien free vehicle as collateral to get a loan from Fast Action Finance. These are called Title Loans. You keep and drive the vehicle as normal, but it will be working for you, not only taking you to and from where you want to go, but also working for you by letting you borrow the money you need today. When we say we will lend to you using your vehicle, we include cars, trucks, vans, pick up trucks, etc. In addition to lending against vehicles, Fast Action also lends money if you leave your paid in full motorcycle, snowmobile or watercraft in our safe and secure warehouse. If you have compact movable machinery that we can store, we lend against that too. These types of loans are called Motorcycle Storage Loans and Collateral Loans.

The Loan Industry in Canada

The loan industry in Canada is made up of several different segments:

National and International Lending Institutions

The banks are national and international lending institutions. In addition, there are smaller lending institutions such as credit unions and savings & loans entities that are provincial or regional. They are all heavily regulated by the Banking Act and/or other legislation that makes them very non-entrepreneurial in their business dealings.

These banks, credit unions and savings & loans institutions are run by a board of directors. They follow strict lending criteria and there is little room for flexibility in their lending practices. These institutions still grant many loans, but only to those with good credit records. Their threshold of loan minimums is constantly rising, whereby a consumer looking for a small loan of $5,000 is directed to use their credit card. Banks no longer have the will to administer small loans.

Local Lending Companies

Then there are the local lending companies that are sometimes a stand alone operation, have a few locations or are part of a franchised system. Depending on the level of ownership, this class of loan company ranges from entrepreneurial to very restrictive in lending policies.

Payday Loan Companies

Finally there are the payday loan companies that operate under the Payday Loans Act. The typical payday loan customer is looking for a lending institute’s ability in granting them fast access to loans and finance. The payday lenders too have strict rules to follow and they have little room to wander from their self-imposed business model.

The Best Choice For Many Customers

The lending companies that take an entrepreneurial attitude to assist customers with their needs are the local lenders. In these companies the owner is usually active in the day to day operations of the business and many times can be swayed by a borrower’s needs and will work with them to find a solution and get them the money they need.

Fast Action Finance is The Local Lender For You

Fast Action Finance is a local lender that will lend up to $5,000 using a paid off 2009 or newer vehicle. This is called a Title Loan. For these Title Loans we do not hold the car, have it transferred to our name or have the customer sign the ownership over to us. The customer keeps driving the car as usual. For higher loan amounts we hold collateral such as vehicles, trucks, motorcycles, classic cars, snowmobiles, watercraft, machinery, etc. at our secure location to collateralize the loan. These are known by several names: Collateral Loans, Secured Loans, Hard Collateral Loans, Storage Loans, or Emergency Loans.

Testimonial from Brooke

I needed quick help for a tight spot I got myself into. Everywhere I went I was turned down because of past mistakes in repaying loans. Then I found Fast Action Finance and realized I could borrow using my car. They understood my problems and really came through. I am now back on my feet and moving forward. Very professional – highly recommend.

Brooke S. – Milton

Testimonial from Jonathan

My house purchase was closing in a day and I totally miscalculated my expenses and was short by several thousand dollars. I called Fast Action who asked if I had a paid off car. I brought the car in for inspection and drove way in less than an hour with $5000. I got what is called a Title Loan. It worked very well as I still keep and drive the car as before the loan, they only put a lien on it. The experience was professional and pleasant and they made me feel comfortable. Fast Action really helped me out of a bad spot.

Jonathan R. – Mississauga

Testimonial from Donald

My payroll was coming up on Friday and I was short the full amount. I could not possibly tell my employees to wait for their pay. I was referred to Fast Action by a friend and discovered that I could borrow using my motorcycle. They invited me to inspect where they were going to store the bike and I felt it was very secure and safe. I stored my prized motorcycle with them for a few months and got the money I need to keep my employees working and paid over a tough period. Thank you Fast Action Finance for coming through.

Donald C. – Oakville

How To Raise Capital With Car Title Loans

Sometimes, you may find yourself in financially frustrating positions that may leave you wondering what to do next. Over time, financial institutions have been able to come up with tailor-made solutions to help people carry out certain ventures without worrying about finance. For instance, a personal loan can be used to consolidate a debt or as an extra capital to make purchases for your business. The interest rates for these types of loans are influenced by the credit score. Thus, you can get the best interest rates with a personal loan. An auto title loan offers you even a better alternative for acquiring capital. Here is a look at how things work in the process raising capital using an auto title loan.

Car inspection and evaluation

To acquire an auto title loan, you car is used as collateral. Essentially, it has to undergo inspection and evaluation for value determination. The value of the car is then used to determine the amount of money that you will get when you apply for an auto title loan. More often than not, the amount of money that you receive after meeting all the vital requirements is usually equivalent to a certain percentage of the value of your car. Therefore, you need to know the value of the car when applying for the car title loan. Most lenders will evaluate your car when apply for the loan.

Presenting car title

One of the most essential requirements for you to get an auto title loan is presentation of the car title. Lenders get to the keep the car title when you acquire collateral loans in Mississauga. Without the car title, you are not eligible for an auto title loan. It is the strongest proof that you have an automobile in your name. In that case, defaulting the loan program may result in repossession of the car. Therefore, you need to present your car title and other relevant documents that clearly indicate car ownership. In addition, you need to present insurance documents indicating the car is fully insured to cover incidences such as accidents.

Consulting a financial expert

When applying for an auto title loan, you also need to consult a financial expert to help you to strategize on the most effective ways of repaying the loan on time. You can consult financial experts from the company lending you services or work with a financial adviser from a different firm. All in all, you need to ensure that you have a clear way out that will help you get you through the challenging times of loan repayment. Invariably, auto title loans go at high interest rates. Failure to make the monthly payments on time can have a significant impact on the amount that accrues due to high interest rates. Therefore, you need a financial adviser to work out a repayment plan that will help you clear the title loan.

Stirring your business to productivity

The best way to ensure you get the most out of your investment is by stirring your business to high productivity. Although businesses are often risky ventures, putting the right resources together and hiring the right personnel go a long way to determine the success of your enterprise. Therefore, aim for a higher return so that you may able to get back the initial cash outlay. This will put you in a position to wipe off the auto title loon on time.

Refinancing boost

When you start a business, there is always a possibility of success and failure. In some cases, you may end up in a break-even point. If you have raised capital for your business with an auto title loan and things fail to work, you can always reconsider car title refinancing. This is an effective solution that can buy you time while you fix a few things in your business to ensure that you get a great return. Car title refinancing works because it lowers the monthly payment by giving you lower interest rates. In that case, you should consider refinancing if the business is not picking up.

Keep record of financial documents

When applying for an auto title loan, you need to ensure that there is record of relevant financial documents. This particularly applies when you are refinancing. This helps you to ensure that amount of interest paid based on the principal is not ridiculously high.

Therefore, if you need capital to boost your business or make expansion, you do not have to worry about getting quick cash. An auto title loan will sort you out. This is because credit checks are absolutely irrelevant when applying for title loans. All you need is a car with a title. As long as you can prove your car ownership, you are eligible for the loan. You also need to work on the most effective way for paying the loan so always work out your expenses and put aside enough cash every month to repay your title loan.

What Does Refinancing Your Car Title Loan Mean?

If there is any new venture that you would like to finance but you lack the funds to do so, an auto title loan can be the best remedy. It involves acquisition of a loan based on the value of your car after inspection and evaluation. Essentially, you have to hand in your car title to the lenders before receiving the money. The car title is used as collateral while you make monthly payments, which can be cumbersome in some cases. At this point, car title loan refinancing comes in handy. Refinancing of a title loan actually helps you to reduce the amount of money that you are required to pay monthly. It simply allows you to retain car ownership when otherwise it would have been repossessed.

Title loan refinancing

Quite a number of people do not have any idea what car title refinancing means. Well, it is one of the financing options with various applications. If you have dealt with mortgages or standard loans, then you probably have a rough idea because refinancing options are also offered for these types of loans. Car title loan refinancing is a financial solution tailor-made to relieve you of the burden of high monthly payments from a particular car title loan (offered by a lender). To get a car title loan refinance, you need to find another reputable lender.

What you get from title loan refinancing

There are a number of things that you get to enjoy by refinancing your car title loan. First, it allows you to lower the payments that you make monthly. This is a great relief especially to people who are having a bit of a challenge making payments on time. Secondly, it allows you to clear off your auto title loan. For many borrowers, their biggest wish is to clear an auto title loan on time. Things do not go well when you default. However, title loan refinancing can help you deal with the defaulting nightmare. In the long run, you will be sure of attaining total ownership of the car. You will also have a chance to get low interest rates.

How it works

It is important to know how things work before making a step to get a car title loan refinance. This goes a long way to help you make the right decision as you will be in a position to know how things go and how you may be affected in the process. First, you need to understand that you can refinance a title loan depending on the amount of collateral that you are willing to offer as backup for the loan. In this case, your car is usually the collateral. Different lenders offer various title loans depending on how much you are willing to offer as collateral. There are companies that offer loans that are equivalent to 70% of the car value.

Use a paid-off car

To get a title loan refinance, you also need to own a paid-off car. The only thing that gives you problem is the car title because you temporarily lose possession when you acquire auto title loans in Brampton. You need to provide a physical proof of car title ownership without any liens that could be used against it. In addition, your car should be insured in the event of an accident. Your car is basically the collateral for the auto title loan and if it is not insured, lenders run the risk of making a loss when your car is involved in a serious accident.

Why refinancing works

High interest rates make it hard for many people to pay off the entire amount of money on the due date. Therefore, if you have a vehicle title loan and you are having issues making monthly payments due to high interest rates, you should go for car title refinancing option. First of all, car title loan refinancing is definitely unparalleled. It offers a way out to clear title loans with high interest rates and short-term periods. Secondly, the entire process of acquiring a title loan refinance is not complicated. You do not have to worry about rigorous paper work. Thirdly, you can save money by getting low interest rates.

In summary, if you are caught up in a serious financial situation and you are unable to find your way out, you can always opt for car title refinance. Car title refinance is an unparalleled solution that allows you to make monthly payments without worrying about high interest rates. This is because it helps you to get low interest rates and save more. In addition, it gives you the assurance that you will still be able to retain your car in the long run. Many people dread the thought of losing their car so going for a title loan refinancing is the best remedy.

The Odds Of Acquiring An Auto Title Loan By Using An Unpaid Car

When you want to achieve a financial goal while in a tight position, you definitely need the most effective way to obtain quick cash. Thanks to auto title loans, you can get fast cash in as little as an hour depending on the type of lender you find. Great auto title companies have professional financial agents who come up with streamlined ways for making the loan application process easy and convenient to customers. With a customer-friendly approach for acquiring an auto title loan, people still wonder whether you only need a paid-off car to qualify for a loan. Here are answers to this common question:

Paid-off car vs. unpaid-off car

For many auto title companies, there are two major qualifications that are mandatory for you to qualify for a loan. First, there should sufficient evidence detailing total ownership of the vehicle. In essence, the car title has to be in your name. Lenders need full proof that you are the owner of a vehicle. In some instances, it is possible to acquire a title loan using a car that you co-own with someone else. Secondly, you should have a car loan that is paid-off.

One of the most crucial factors that come into play to determine title loan eligibility is ownership of a paid-off car. In essence, you car should be lien-free for eligibility. If you do some research on some of the standard practices for vehicle title loans in Brampton, you will find that it is a fundamental requirement to own a paid-off car. That means you cannot use an unpaid-off car to acquire a title loan. These standard practices for auto title loans exist as they generally look out for the interest of the consumers. They basically protect their legal rights while making the lending process smooth.

Car title possession

In the lifetime of the auto title loan, the only thing that will be away from you is the car title. You will still have access to your car. Therefore, there is no need worry about moving from one place to another or going to work or important business appointments. As far as car title possession is concerned, it does not affect car ownership during the loan term.

Why paid-off car counts

A paid-off car counts because it is the only evidence that guarantees car ownership in the life of the title loan. Since the car title is possessed by the lender when you acquire the title loan, a paid-off car helps avoid confusion that may arise during the loan term. The main problem with unpaid-off cars is that they have unforeseen legal issues that may bring about problems down the line.

Working with a reputable auto title lender

Therefore, finding a reputable auto title company guarantees customer protection from such things as fraud. In addition, you do not have to worry about overly invasive credit checks that are very popular when acquiring a conventional bank loan. Something else that is worth noting is that a paid-off car raises the value of the loan significantly. That means you can be able to get more.

Weighing options

In the event you do not have a car title, there are still other loan options that you can consider. For instance, personal loans or signature loans work when you need quick money. These options work best when you have an unpaid-off car or lack a car title. In special cases, where you have an existing title loan from another lender, you can still be able to seek financial redemption using auto title refinance. As long as you meet certain requirements, you can be able to deal with the nightmare of high interest rates when things go a little far financially.

No credit check

One of the top advantages that you get when applying for a title loan is inapplicability of credit checks. When you need money urgently, the last thing you need is a series of procedures involving running your credit history and making conclusions based on the outcome. An auto title loan assures you of a quick loan (less than a day). If you want to boost business performance, you can do so without worrying about the amount of time that it will take before you get funded.

To that end, getting an auto title loan with an unpaid-off car is out of the question. The odds are plain zero. Car title ownership not only guarantees you an auto title loan but also raises the chances of increasing its value depending on the amount of money you need. In cases where you do not have car title, you can always consider other simple ways of acquiring quick cash such as signatures loans. An auto title loan is the most effective way for raising enough money for an emergency situation.

Why Car Title Loans Work Better Than Payday Loans

There are times that you encounter unexpected or emergency expenses in life without the financial capability to handle things. More often than not, this turns out to be a costly experience particularly if you have saved little in your bank accounts. Studies show that a good percentage of people use payday loans to sort out their bills. The number of borrowers acquiring funds through auto title is just slightly lower than the number of payday borrowers. This begs the question regarding the type loan that works best. Here is a look at some of the things that can help you distinguish a payday loan from an auto title loan to be able to make the right choice when in need of emergency funds.

Auto title loan

Auto title loans have grown popular as the most effective way of raising fast cash. This is because all you need as a requirement to get the loan is an automobile. When you take your automobile to the lender, he will assess its value and determine the amount of money to give to you. This is based on your car’s value. The lender will give funds for a certain percentage of the value of your car. Before receiving the money, you have to give the lender your car title as collateral. This gives the lender the power to repossess your automobile in the event you fail to meet your financial obligations.

Why auto title loans?

Auto title loans work well when you do your homework before making any choice. You need to create a financial plan to help you clear the loan on time. You need an alternative such as auto title refinancing just in case thing go wrong. The most effective way of paying off an auto title loan is by making consistent extra payments. This goes a long way in reducing the principal (amount owed). When the principal is low, you will not feel the pinch of high interests. In addition, as you make the financial plan, you have to factor in other additional expenses that occur such as repossession and storage fees.

Auto title loan offers a bigger payout than a payday loan

Unlike a payday loan that offers a small amount of money, an auto title loan offers sufficient funds based on the value of your car. All you need to do is ensure that there is proper car evaluation as it helps the lender to determine what percentage of car value can be used to determine the amount of loan you get. As long you have a good financial plan to clear the loan, you can get a reasonable amount of money.

Consulting professionals

It is paramount to consult professionals before making any choice. This is because they are in a position to let you see the big picture. For instance, they can help you to come up with a financial strategy to reduce the effect of interest rates on the principal. Therefore, you can always feel free to work with financial agent for car title loans in Brampton to make loan repayment a manageable task.

What is a payday loan?

A payday loan is a financial funding that works on a short-term basis. After determining the exact amount of money that you need for use, you can write post-date check (usually personal) stating the amount you need. This is inclusive of a fee charged by the lender as a result of fund issuance. With advancement in technology, you do not have to do things the traditional way. You can simply fill the application form online. The lender will then offer you the loan for a particular period, which happens to be 14 days. When the term is over, you will be required to pay the lender the amount of money owed with an additional finance fee.

Extending the loan

When the loan is due and you are unable to clear it with the finance fee, you can work with the option of loan extension. In essence, when you decide to extend the loan, you have to write another post-dated check that has an additional fee. That means you are going to be charged more than you would have if you had cleared the loan at once.

High interest rates

Payday loans are short-term and as such, they have ridiculously high interest rates. That makes it a little harder for borrowers to pay off the loan on time. The worst part is that if you stay in a payday loan cycle, that involves extending loans, you may end up in a serious financial problem.

With these ideas in mind, you can now make the right choice when looking for a short-term financial solution to make things work. The most important thing to do while planning to apply for an auto title loan is looking for effective ways that help you clear the loan on time.