Your washing machine just quit working and your children have no clean clothes for school. You just found out that your daughter has to have $500 for a school trip by the end of the week. Your son fell and had to be taken to the emergency room, incurring a $200 emergency room bill you were not expecting. No matter how conscientious you are about money, these things can break even the best budget. So, how do you get the cash you need quickly?
If you have an excellent credit rating, you probably have credit cards you can use to pay for the extra expenses. However, what if those credit cards already have pretty high balances? You could apply for a personal loan at your bank if your credit rating is good. The fact is, however, that 56 percent of Americans have a poor credit score, making it very difficult to borrow money. If your credit score is too low, you won’t be able to obtain a credit card or take out a personal loan in Sacramento to meet these expenses.
Another option is to take out a secured loan. A secured loan is one that uses collateral in order to guarantee to the lender that you will pay back the loan. A mortgage and a vehicle loan are examples of secured loans that most American’s are familiar with. Sometimes, it is possible to take out a secured loan regardless of your credit rating.
If you are facing unexpected expenses, consider taking out a secured loan in the form of a title loan. Simply bring in a free and clear car title, complete some paperwork and you can leave with money in your pocket to cover those unexpected expenses. You keep your car while you pay on the loan and there is no credit check required. We even offer a TFC Title Loans customer portal to make your experience even easier after you’re approved. Visit us online or give us a call today to see how a title loan may be able to help you.