If you live paycheck to paycheck, affording a financial emergency can be near impossible. For instance, if you're struggling to afford your weekly bills, how can you afford to replace a broken air conditioning unit during the hot summer months?
We at Delaware Title Loans, Inc. can offer you a helping hand if you have found it difficult to take care of your emergency bills. With a title loan, you might be able to get access to emergency cash within one business day. Learn more about the title loan process for financial emergencies below.
Why Do People Choose Title Loans To Cover Urgent Bills?
Not everyone has a stable, high-paying job that allows them to easily afford all of their bills. Sometimes, your wages can oscillate based on your hours and job availability if you work as a freelancer. One sick day, and you can struggle to make ends meet.
This is where title loans come in. It’s a fast financing option for those who have fully paid off their vehicles and own them outright. You can borrow up to $15,000 based on the value of your vehicle.
Here are some of the reasons title loans are a popular financing option for urgent bills:
- You’ll get the money in the shortest timeframe - Title loans offer quick access to cash. You only need a few documents to start, and you can find out if you qualify in just half an hour. The best part is that if you're approved, you can get the money as soon as the next day or even the same day.
- You don’t need to have a good credit score - A title loan can be a convenient borrowing option for people who might not qualify for other loans because of poor credit. You may be denied at a traditional bank due to your bad credit. Title loans are secured by collateral, which makes them less risky for the lender. You can get approved for bad credit title loans.
- You may qualify for a large amount - With a title loan, you could get up to $15,000, giving you the freedom to handle expensive bills. The exact loan amount depends on the value and condition of your vehicle. Lenders typically consider cars of any make, model, and year. Just remember, the newer and better condition your vehicle is in, the more money you can borrow.
What Financial Emergencies Can You Afford With A Title Loan?
Title loans should be used exclusively for emergencies; do not borrow this loan for a frivolous purchase like a new phone or video game. Title loans allow you to borrow money fast to afford urgent expenses to avoid service disruptions, late fees, or reduced credit.
The following are some emergencies you can afford with a car title loan in Delaware:
- Overdue bills – If you got sick or injured and missed work, you may struggle to afford your rent, mortgage, or utility bill payments. You may also miss a car payment or a student loan payment. Missing these bills can lower your credit score and possibly lead to you losing your apartment or car.
- Medical bills - An ordinary visit to the doctor can cost you between $150 and $400, while a single day in the hospital can run up to $3,000. Even if you have insurance, you might still need to pay some expenses out of pocket. Most plans do not cover many medications and treatments, which can make costs add up.
- Veterinarian bills - Setting aside some money for routine check-ups is usually pretty straightforward, but pet owners rarely plan for emergency visits. Those can end up costing a small fortune. You might pay around $200 for a basic exam and up to $1,700 for a two-day hospitalization. The bill for specialized procedures and surgeries can easily double your total costs.
- Important travel expenses - There can be situations in life when you need to fly to another state or even a different country. These emergencies might include visiting someone you know at the hospital or attending a funeral. In such cases, you would have to consider not only the plane tickets but also accommodation, baggage fees, and other expenses.
- Home or auto repairs - Issues with your home or vehicle can put you and your family in danger. Foundation cracks in your home or blown-out tires can make a house unlivable or a car undrivable. These repairs can cost hundreds or thousands of dollars that most people don’t have saved up.
Who Can Qualify For A Title Loan?
Your credit score and income won’t be the primary factors considered by the lender when deciding whether or not you’ll qualify. However, there are still a few requirements that you would have to meet to get approved. Thankfully, you only need a few required items to get approved, which you should be able to find easily.
Discover the required items for title loans below:
- A driver’s license or state-issued photo ID that displays your full name and age
- A lien-free vehicle title in your name
- Your vehicle for a fast inspection
You must have fully paid off your car, truck, or van to get approved for a Delaware title loan. Keep that in mind before you apply. If you’re still making payments, you must fully pay off your vehicle first before you can borrow money with a title loan.
What Is The Approval Process For Title Loans?
As long as you have the items mentioned above, you can start the process and get approved today. You can begin online and get approved in person the same day you apply. Our fast, efficient process lets you get approved ASAP to handle your financial emergencies before their deadlines.
Here are the steps involved in the Delaware title loans approval process:
- Fill out our online inquiry form with your basic information (full name, zip code, contact information, and vehicle details)
- Answer a phone call from a loan representative to discuss title loan terms
- Visit the nearest Delaware store location to get your requirements verified
- Allow a loan rep to inspect your vehicle to determine how much you can borrow
- Sign the loan agreement to complete the title loan approval process
- Receive your emergency cash loan later that day or by the next business day
You can start the process today from your home using your phone, computer, or tablet. Our online form takes less than five minutes to complete. Our loan specialist will answer any questions you have over the phone. Once you arrive at a Delaware store, you can get approved in less than 30 minutes. You get to keep your vehicle during repayment!
Borrow Title Loans In Delaware – Borrow Up To $15,000 Today!
Title loans can help you cover urgent bills today. If you're facing a financial emergency and can't afford it, Delaware Title Loans, Inc. can help you get approved for a title loan today. Apply online and receive in-person approval today, regardless of your credit score.
Get started online now, fill out our title loan form and speak with a loan specialist over the phone about how to get verification in less than 30 minutes!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
