Bad Credit Car - Auto Title Loans Lenders
Car Title Loan - Finance Roof and Home Repairs With a Title Loan
By Andrew Stratton
Are you suffering with a leaky roof because you don't have the cash or the credit required to repair it? It can cost a homeowner from hundreds to thousands of dollars to repair and replace a roof or any other major structural defect. But if you have a clear car title, you don't have to suffer interminably. Secured debt instruments such as a title loans can give you the cash you need in times of emergency.
Car title loans are designed for subprime borrowers with a bad credit score. All you need is a clear pink slip and you can get a large sum of cash in a few hours. You can use the title as collateral to get a quick loan for emergency home and roof repairs.
If you have bad credit, you know how hard it is to find a lender who will give you a low-interest loan. For homeowners who need funds for emergency repairs, it can be a blessing because the loan is secured, so interest rates are less than for unsecured debt.
A leaky roof is an emergency for most homeowners. Most roofs require repairs over time and if not take care of, leaks can get worse leading to property damage worth thousands of dollars. Repairing a roof is a large expense for most homeowners and, unless you have a little cash set aside for a rainy day, that cost is going to take a large bite out of your family's budget.
If you're lucky and your roof requires only minor repairs, you won't need more than a few hundred dollars to repair the roof. The cost will depend on the size of your home, materials used, the contractor you hire, and the area you live in. It ranges anywhere from $2,000 to $10,000 depending on all these factors. If you use materials such as asphalt or shake, the costs can spiral to even $25,000.
Roof repair financing options are available for most situations. You can choose the one best suited for your situation from those below:
* Ask your contractor to work out a payment plan. Although some contractors want their money upfront, most will want to keep a client and may be willing to offer you flexible payment terms for your roofing contract.
* Use your credit card. If you haven't maxed out your cards, you can use one of them to fund your roof repairs.
* Get a home equity loan. For homeowners with equity in their home, this may be a good option to finance roof repairs or maintenance.
* Get a personal or home improvement loan. If your credit score is still acceptable, you can approach conventional lenders and banks for funds without having to put up collateral and the interest rates you pay will be much lower.
* Apply for a car title loan. This option is suitable for those who have bad credit, but have auto equity and can therefore provide collateral in order to secure the debt. For borrowers with bad credit, a car title loan can help you get emergency repairs done. This will help you prevent further damage to your home and property without having to approach a bank or loan shark for cash.
As long as you have proof of ownership of your vehicle and possess the documents to show that it is paid off or nearly paid off, lenders will be happy to give you cash against your car title. However, as title loans are given to subprime borrowers, you must be prepared to pay a higher interest rate than with traditional lending sources.
You can borrow up to 50 percent of the car's wholesale value with these instruments. And if you strictly adhere to the terms of the agreement and make your payments on time, it will help you establish a positive payment record and boost your credit score.
Once you reestablish credit and have a good credit score, you can turn to conventional lenders for a loan with lower interest rates. Because subprime borrowers are vulnerable to disreputable lenders, you must be especially careful to read the terms of your title loan agreement carefully.
Beware of lenders who use aggressive selling tactics and make sure that you are not being charged exorbitant interest rates that will trap you further into debt ending up with your vehicle getting repossessed. Look for a lender that offers reasonable interest rates and allows convenient and flexible terms so you can avoid repossession.
You can avoid thousands of dollars worth of damage by getting your roof repaired in time. Have bad credit and can't get a loan? No problem! Use your car title as collateral and get approved for car title loan in minutes. Visit http://www.123fundme.com to apply now!
Car Title Loans - How to Use Them to Establish a Positive Payment History
By Andrew Stratton
Do you have a history of defaulting on loan payments? If you need cash to establish a positive payment history, but have bad credit, you're probably caught in a frustrating loop. With traditional lending options closed to you there are very few options where you can get the cash to help you improve your FICO score.
A low score results from a poor history of paying debts in a timely fashion. The three credit bureaus that most lenders report to are Equifax, Experian, and TransUnion. They keep records of your credit history and take into consideration the trend of a person's credit history when evaluating risk with the more recent trend being given greater importance. So, it's never too late to start borrowing cash and budgeting wisely.
Car title loans are convenient, quick, and can help you improve your credit rating. Because the debt is secured by auto equity, lenders can afford to lend to customers who are considered high risk. In most cases, all you need is a car title, also known as a pink slip, to get immediate approval.
A car title loan, when paid off according to the repayment schedule can start a trend of good credit history on your credit report and boost your FICO score. Car title loan lenders can provide you with flexible monthly repayment terms at an affordable monthly payment, which may help reestablish your credit. Here's how you can pull this off.
A low FICO score is not a factor for approval in getting a title loan since you will offer your car title as collateral to the lender. You should get approval within minutes and, if you have all the documentation required, you could have cash in hand in hours.
The lender will give you about 25 to 50 percent of your car's value as a loan. The best way to use this cash is to use it to pay off pending payments that are affecting your FICO score, such as mortgage payments.
How to Make Payments for Car Title Loans?
If you want to use your loan to reestablish credit, a short-term loan is your best option. Whether you need to cut down on monthly expenses, live more simply or sell stuff you don't need, you need a plan and some budgeting skills to repay the loan on time.
If you plan to pay back car title loans over a period of months, there are several ways you can make monthly payments for your loans. You can almost always pay by check, either over the phone or through the mail. Some lenders also accept in-person payments at local payment centers as well.
If you have a hard time keeping track of when bills must be paid, regularly scheduled debits from a bank account or paycheck can help you establish a routine of payment. This will not only help you save on late fees and extra interest payments but also and make your payments more consistent.
If you have a bad credit it does not mean you got a life sentence. There are a number of ways you can improve your FICO score, including using car title loans to demonstrate a positive payment history by responsible handling of funds.
Get funds to improve your credit score by applying to a lender that provides car title loans - California lender offers competitive rates and no pre-payment penalty on the collateral loan, so you can pay it off at anytime. Apply online at http://www.123fundme.com