Financial emergencies are never fun, but they demand attention as soon as they arise. In a perfect world, you'd have the funds ready and waiting to be used in such situations. However, the reality is that isn't always possible. Luckily, you have an option — using a title loan. Deciding whether a title loan is right for you is relatively simple.
If you own a vehicle (car, truck, or van) outright and need money to prevent a situation from worsening or becoming more expensive, it might be your best choice. Finding title loans in Delaware is also simple with Delaware Title Loans, Inc. That said, let's look at what a financial emergency is before divulging how to use a title loan during one.
What Is A Financial Emergency?
Big expenses aren't necessarily emergency ones. Costs like paying for a wedding, going on vacation, and putting a deposit on a house aren't emergencies because you expect them. Financial emergencies are those you do not expect, like any of these common situations:
Job Loss, Income Decrease, Or Business Downturn
Any loss of income causes disruption and stress, even if you're following a minimalistic routine or boast a high net worth. A business downturn, income decrease, or job loss can disrupt your ability to maintain your financial obligations. Thus, people seek loans or take money from their emergency fund to tide themselves over until their income restabilizes.
Medical Emergencies
As an American, health scares can be extremely costly. So much so that the amount of medical debt in the nation is at least $140 billion. Additionally, out-of-pocket medical costs are one of the most common reasons for people taking hardship withdrawals from retirement accounts.
Despite most people paying for a health insurance premium, medical bills can go through the roof when something serious occurs. If you don't have extra savings, you'll need to seek loans to get the care you need.
Unplanned Home Repairs
Over a quarter of Americans use emergency savings to handle major household repairs. But the truth is not all of us have emergency savings built up to help with any sudden expenses we may get. Without said savings, you need to find a loan to cover emergency repairs like:
- Roof Replacements Or Repairs
- Mold Extraction
- Foundation Issues
- Pest Problems
- HVAC Repairs
- Water Damage Correction
- Plumbing Problems
Unexpected Travel
Traveling to see family or for vacation is part of your planned cash flow. However, unexpected travel, like a new job opportunity, finding somewhere to live, or the death/illness of a loved one, can force you to go outside your budget.
Urgent Pet Health Needs
Whether broken bones, surgery, dental emergencies, or internal ruptures, vet bills can be incredibly costly, racking up thousands of dollars overnight. These events (even with pet insurance) can set your budget on the wrong path, causing you to seek a loan.
How To Use A Title Loan During A Financial Emergency
Dealing with any of the above is stressful enough without having to think about getting a title loan. Luckily, we've made the process incredibly easy at Delaware Title Loans, Inc. to help you out. Unlike traditional loans, we don't bombard you with a long list of requirements to meet or a lengthy procedure.
Instead, the in-person process can be finalized in just 30 minutes and you'll receive your money on the same or the following business day. To get a title loan from us, you just need these three things:
- State-issued identification (e.g., driver's license or passport)
- Lien-free vehicle title
- Vehicle
With those items on hand, follow the steps below to use a title loan to fund a financial emergency:
- Complete the online form found on this website. Sit back and wait for us to give you a call. We'll discuss the requirements, tell you about the process, and answer any questions before we proceed.
- We'll also set up a meeting with you to evaluate your vehicle and documents. You don't have to come to one of our stores; we're more than happy to come to your workplace or home. Wherever you've arranged to meet us, head there with the required items.
- We'll look at everything, including your vehicle, to figure out how much you can qualify for. Provided you are happy with the amount, we will guide you through the rest of the process.
- This includes signing a few forms to confirm you agree with the loan terms. Finally, you will receive the money in as little as two days, allowing you to fund your financial emergency as soon as possible.
Rectify A Financial Emergency With A Title Loan Today!
Whether you've recently lost your job, you're currently going through an unforeseen transition, or your pet requires unexpected care, you can fund the unplanned costs with a title loan from us at Delaware Title Loans, Inc. right now.
It's easy to get through the process and you don't have to worry about contending with a long list of requirements to be accepted. Just fill out and submit the online form on this website. We'll be in touch to help you through the rest of the process.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
