Funding Your House Remodel with Car Title Loans
3 Reasons Why Home Improvement Financing With A Title Loan Is A Good Idea
Remodeling your home can be one of the most expensive things you do. You can spend thousands of dollars on “simple” or “small” items like new countertops. You likely don’t even want to know how much it would cost to completely remodel your kitchen or your bathroom.
You have a lot of options for financing your home remodel, including an equity loan, a personal loan, or cashing out an investment. But you need only look to the vehicle parked in your garage to find one of the best sources of financing for your remodel: Title loans. So long as you own your vehicle, you can get a title loan for up to the value of the vehicle. Here’s what you need to know about using auto title loans to finance your remodel:
They Provide Money Fast
One of the big problems with traditional forms of financing is that it can take awhile before you actually have any money in hand. You may not want to wait that long to move forward with your remodel. It may be that your contractor has availability now and you don’t want to miss the window, or it may be that you have some problem spreading damage through your home and you want to get it repaired and updated now.
Title loans can give you money within the day. You can apply online, get approval within minutes, and you can get cash within the hour. The exact timeline depends upon the title loan center you use and how quickly you produce the necessary documents.
They Offer Flexible Terms
The interest rate you pay on a loan and the repayment term both have a big impact on how much you have to pay back to the lender each month. So, while you may be able to get the money from a traditional financing source, you may not want to do so because the terms may make the loan too expensive for your budget.
Auto title loans offer flexible terms so that you can get the money you need on a repayment plan that is affordable for your budget. You will need to shop around at different title loan companies to find the best rates and repayment terms. Look for a title loan center that does not charge prepayment penalties.
They Do Not Require a Credit Check
You may feel limited in your financing options because you do not have great credit. You may have some delinquencies or late payments on your report that make it hard for you to get approved for loans. Or you may simply have a sparse credit history, so you aren’t able to convince many lenders that you are a good credit risk.
Title loan centers do not need to know whether you have good credit or not. They only need to know that you have a vehicle title in your name and that you have a consistent source of income with which to pay back the loan. You’ll be able to be approved with just this documentation (and documents providing your identity and residence), and you won’t have to worry about your title loan affecting your credit history or score.
Title loans are a great resource whenever you need money quickly, but they are especially great for financing home remodeling projects. If your vehicle does not have enough value to finance your entire remodeling project, consider getting multiple loans over time and paying for your project in stages. You may also be able to get multiple loans if you own multiple vehicles.
Contact Professional Title Loan Specialists
Call Title Loans 365 in Las Vegas today to learn more about how title loans may help you or to get approved for a loan. We offer an online application process that gives you approval in minutes. If you are approved, you can visit one of our title loan centers in Henderson, Las Vegas, or North Las Vegas. There, you’ll complete the process and get the money you need. We offer auto title loans, RV title loans, and truck title loans. We are open 24 hours a day, seven days a week, and a representative is always ready to help you with your application or answer your questions. Call or visit us today to learn more.