Title loans have grown in popularity as a quick way to obtain cash for bills, debt, other outstanding loans, or in financial emergencies. While title loans seem like a good option for those in financial need, they also come along with some risks. And every title loan applicant should be aware of all the risks as well as become knowledgeable of the industry risks, and even how to compare title loan offerings to make an informed financial decision that is not only safe, but will help individuals get out of debt.
Comparing title loans can be tricky and risky, especially if you aren’t sure what you are looking for, or really understand what is involved with a title loan. Here are some tips to ensure you know what you are looking for and really getting yourself into.
If you are struggling financially or are in debt, you aren’t alone. Even though the economy is somewhat on the mend, many are still struggling to pay their bills, put food on the table, and get out of debt. Over the last three to five years while our country fought through a struggling economy filled with job loss, stock market crashes, and loss of retirement benefits, millions of individuals have had no choice but to default on car loans, credit cards, and even mortgages as a result have increased their debt, decreased their credit ratings, and at the same time increased their creditworthiness and risk. So for those who have fallen victim to the repressed economy, what options are there to get out of debt?
There are numerous title loan companies in the states where we operate (Utah, Idaho and Nevada) and we've seen many customers come to us after being abused by other companies. We are one of the few companies that admit getting a title loan or any loan for that matter isn't any fun which is why we make it as simple and cost effective as possible. In the past 5 years we've grown so rapidly that we've opened 10x the number of stores we had when we started because we treat our customers like family and we offer the best rates. Our title loan rates aren't just a few percentage points lower, ther are often half or a third of what you'll find elsewhere!