No matter what time of year it is, there are points in our lives when we find ourselves strapped for cash and needing a temporary loan to keep us going. For example, a medical emergency or car breakdown can demand more money than what’s on hand. In addition, rising energy costs in fall and winter can strain the budget. So, what can you do? Where can you get some fast cash to help solve a temporary problem? A car title loan may be the answer. This article will look at the benefits of car title loans in the Charlotte area.

What is a Car Title Loan?

A car title loan is an effective and quick way to get cash quickly if you are in financial trouble. An auto title loan is a cash loan that is leveraged against the ownership papers for your vehicle.

These types of loans can be approved quickly, and the loan amount you receive will depend upon the market value of your vehicle. When you repay the loan, you maintain ownership of your car. In addition, depending on how your particular loan works, you may still drive your vehicle during the loan period.

What Are the Benefits of a Car Title Loan?

An instant cash injection. If you need to get hold of cash fast, a car title loan is one way to get the money you need quickly. All you need is proof of ownership of your vehicle. You can apply for these loans either in person or online.

Quick process. Whether you apply online or in person, the time it takes for your loan to be approved is speedy, making this a great option if you need some money in a hurry – in as little as 15 minutes.

You can still use your car. Most auto title loans will allow you to retain the use of the vehicle. You can still get to work to earn the money you need to repay your debts.

Your credit score doesn’t matter. You don’t have to worry about a bad credit history as long as you have ownership papers for a car and the vehicle is worth the amount you are borrowing. That is all the lender needs to lay out the cash advance. So, no credit check.

No guarantor is needed. With your car as your guarantee, you do not have to worry about asking friends and family to put their credit or homes at risk.