Saturday, August 9, 2014

Cash Car Title Loans - Unemployed? Use Cash Car Title Loans to Pay Your Bills

According to the Bureau of Labor Statistics, as of February, 12.5 million people are unemployed in the United States, which the unemployment rate is up to about 11 percent. It has been no secret that the economy is in a recession and people are hurting all over the country and in every business sector.
If you are one of the unfortunate victims of this economy and find yourself without a job, you may be wondering how in the world you're going to provide for yourself, much less your family. Because, not only are people losing jobs, there aren't enough jobs to go around. Sure, you may be collecting unemployment and, in certain states, laws have been created to extend these benefits, but that monthly check may not be enough for you to handle even basic living expenses.

If at any time during your unemployment you find yourself short on funds, you may have some extra cash sitting out in your driveway. No, you do not have to sell your car to get the cash; you can apply for cash car title loans. If you already own your vehicle and have a clear title, meaning you don't have any outstanding loans against your car, you may qualify for some extra cash. Car title loans allow you to access the equity in your vehicle for emergency situations just like this.

Once you are approved and get the cash, car title loans allow you to spend the money on whatever you need. In the case of unemployment, you might need help making the mortgage payment this month or just getting the utility bills paid. Whatever bills, the small unemployment checks are not covering, a car title loan can help cover.

Some lenders offer lower competitive rates and allow you can take out a larger amount than their competition allow, so be sure to research all of your potential lenders before you apply. The lender determines the current value of the car and, based on your application and credit report, it loans a percentage of this value. Some states have a minimum amount so verify this when you apply.
By giving you emergency cash, car title loans can help you protect your credit in tight times. If you fail to pay your bills, be it credit card, mortgage or utilities, it gets reported to the credit bureau. Bad credit can keep you from getting a job, buying a house or renting an apartment.
Just make sure that you fully understand the terms and conditions of the loans and that you will be able to pay the required minimum monthly payment on the loan. So only take what you can afford to pay back. Since the current value of the car is used as collateral for this type of loan, if you fail to make payments, the lender has the right to repossess the car and sell if to recoup their loss. You cannot afford to loose your car; you will need it to get to job interviews and to a job soon!

Because of nowadays economy, many people see their job threatened. If you have lost your employment and need fast cash, car title loans can be a good solution to help you pay your bills and support you while looking for a new job. Visit http://www.123fundme.com to look at your options and apply for a loan today.

Expert Author Andrew Stratton

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Car Title Loans - How to Choose a Reputable Lender

Even people who have bad credit or low income can get money for their car title if the title is clear. You can utilize your car as a valuable asset. Especially if it is paid off or nearly paid off, your vehicle can be used as collateral for a loan. However, if you have a low credit score and are desperate for cash, it is easy to fall prey to disreputable lenders who use title loans to prey on people with bad credit or low income.
Predatory lending practices are those that do not benefit the borrower. Such lenders use a number of abusive practices, such as subjecting borrowers to very aggressive sales tactics to steer them or coerce them into taking a subprime loan that is not in their best interest.

One of the things that will alert you to your lender's credibility is the interest rate they charge. This is one of the most important terms because it dictates how much cash you will pay out over the life of the loan. A few lenders follow the practice of advertising their interest rate in monthly terms only. However it is important to regard the annual interest rate (monthly x 12) when borrowing for more than one year.
Some predatory lenders use balloon payments to conceal the true burden of the financing. This could force borrowers to roll over the loan into another agreement. The borrowers then end up paying more in interest charges than the cash they initially borrowed. This is a nightmare situation that should be avoided at all costs.

Another predatory lending practice is used by lenders who fail to disclose the fact that the loan price is negotiable and that borrowers can often negotiate an outright reduction in the interest rate or other charges on the loan. By locking borrowers into unforgiving terms, a disreputable lender can charge exorbitant interest rates and keep them in perpetual debt until they relinquish their car title or face repossession.

When you take California car title loans from a disreputable lender, it can trap you in a cycle of debt that is hard to get out of. You can find a reputed lender online or by referral. Either way, you need to become aware of your rights as a consumer, and learn about the laws aimed at preventing predatory lending, such as the Federal Truth in Lending Act that requires certain disclosures of APR and loan terms.
Although California car title loans are available, there are regulations that govern how they can be structured to protect the consumer from predatory lending. As most disreputable lenders target minorities and other vulnerable groups, more states are considering legal action against such financiers.

Your car title loan should make your life easier, not more difficult. Getting the loan is really the easiest part as lenders promise approval within minutes and quick turnaround to get you cash within hours. But before you apply for a title loan, make sure you find a reputable lender that offers reasonable terms, flexible repayment options, competitive interest rates and no pre-payment penalties.
In California, car title loans [http://123fundme.com/california-car-title-loans.html] are available from a reputed lender that offers flexible repayment options, no pre-payment penalties and some of the lowest interest rates in the industry. Visit http://www.123fundme.com to apply now.
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