Title Loans in UtahYou’ve probably heard stories about car title loans — some of them may be good or bad — and you might be thinking, why would anyone want to pawn their car? However, you should know that a title loan isn’t as risky or bad as some make it out to be if you utilize it appropriately and plan properly. 

Here are some viable reasons why you must give title loans a chance:

  • You don’t have to part with your car – Unlike when you pawn something valuable, such as jewelry; your lender won’t get your car as your loan collateral, only your title. Your car will only be repossessed if you don’t pay your debt, period.
  • Quick cash when you need it – You only have a few options for getting quick cash. However, utahmoneycenter.com reveals that if you utilize a good title loan in Taylorsville, you can get your cash the same day you filed for it.
  • The simplest lending process you can ever go through – You just bring in your car, along with the title as proof that you legally own your car and you get your money. Paperwork is extremely minimal since they have your car as collateral, which you’ll still get to keep.
  • It’s only a short-term loan – A big issue with conventional loans, aside from the inconvenient credit checking requirement, is that they’re normally huge loans that you’ll be paying off for many years to come. With a title loan, you’ll be debt-free once you pay back on your first due date, and you’ll only have to pay off interest.
  • Having no credit or bad credit isn’t a problem – Title loan providers won’t really care about your credit history and it won’t matter if you’ve previously made bad financial moves or if you don’t have that much credit yet. You can just use the car you already own to obtain a title loan.
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So while auto title loans are oftentimes criticized and misunderstood, but it’s undeniable that it can help a lot of people in particular situations. If you have your own car, are dealing with credit issues, and don’t have cash that you really need for an important emergency situation, a title loan may just be the thing you need to get by.