Why Selling Your Car To Acquire Fast Cash Is Not IdealFast Action Finance SEO
It is not uncommon for people to resort to selling their cars, or other assets, when they are faced with serious financial problems. But is it the right thing to do? In most cases, it is actually not the best thing to do because your car services you in a number of ways. Your car can take you to work, pick your kids up from school, run crucial errands, and much more. Unless, of course, you live in an area with a good and reliable public transportation for both yourself and your children, then selling your car could be an option. However, many of us do not have the luxury of having reliable public transit for everyone in our household and a car is a necessity. Therefore, if you need fast cash, perhaps you should consider taking up a car title loan instead. Here are reasons why it may work for you.
What is a car title loan?
A car title loan is a financial alternative that allows you to get quick cash within 24 hours on specified terms and conditions from a lender. One of the specifications of an auto title loan requires your car to have a lien placed on it for the duration of the loan. The lien lets other banks and lenders know that there is money owing against your car. You can continue to drive and use your car as usual with a lien on it and the lien will be removed once the loan has been paid-off.
The loan should be fully repaid after a certain amount of time, usually within one year or one year and a half. If you are unable to pay-off the loan within it’s scheduled period then do not fret as many lenders will work with you. At Fast Action Finance, we understand that various things can get in the way of paying off your loan on-time. If this occurs, we would be happy to work with you. We can do this by extending/rescheduling the loan and coming up with a plan that will work for you!
Value of your vehicle
If you have recently bought a car and have had it for less than a year, selling it is the last thing that should be on your mind. However, if it so happens that your car is secondary and perhaps you do not use it that much or do not use it at all, then you are at liberty to sell it. You should be aware of one thing though.
The amount of money you will receive after selling your vehicle will pretty much be inadequate. In fact, if the car is old and not in the best condition, you are not likely to acquire much from its sale. By comparing the amount of money you get from an auto title loan and selling your car, you can determine which is the best option for you.
Is an auto title loan for you?
An auto title loan can be an amazing solution to financial woes especially if you are intending to retain your car. It makes it easy for you to acquire cash in the shortest time and still continue to enjoy the merits of owning a car. The only thing that you will surrender is having a debt-free vehicle. However, once the loan has been paid-off then your vehicle goes back to being debt-free!
No one is going to ask you about credit scores or any other thing that may hinder the process of acquiring the loan. The amazing part is that all that can be done in less than 24 hours. The lender will then give you a certain amount of time to repay the loan. That sounds like an amazing deal because all you have to do is ensure that you make your biweekly or monthly payments on time.
You do not have to sell your car when you need fast cash. The best way to acquire money conveniently is taking up secured loans in Brampton. An auto title loan will not disappoint you when you really want money for urgent needs. Moreover, you do not have to worry about too many formalities, which can lead to a lengthy loan process, as is common with personal loans. An auto title loan will be processed in the shortest amount of time and depending on the lender, you may even get the loan in less than 24 hours! At Fast Fast Finance, we can process and finalize the loan within the hour.