Need Quick Money For Cash Crunch?by Malini Somra Blogger
We all face some crucial circumstances and often fall short of finance to manage the things properly. Often we rely on friends and relatives for support but not everybody has enough savings to help you come out of the cash crunch situation. It’s a fact that people don’t save for cash emergency situations though they know uncertainty can hit them at any point of time. But this is how life goes and people tend to look for mediums through which they can arrange quick money to tackle the situation.
But another fact is that people are only aware of the traditional mediums like banks and big private lending companies for their loan needs. The problem with these established institutions is that they have rigorous loan approval process that make a loan applicant sweat hard to get a loan even if he meets all terms and conditions. Beside this, these institutions carry out a rigorous financial background check of the loan applicant and cross check all the documents to verify that the applicant is capable of repaying the loan back or not or whether he has the asset to keep as collateral. Not to forget the lengthy loan approval process that consumes weeks if not months.
This hectic loan approval process diverts people to some other mediums like micro financial institutions or small private lenders. But things are not the best here also because these institutions take full advantage of the pity situation of the people and often cheat them. Most often the interest rate is very high and agreement mostly have hidden clauses to trap the loan applicant. So this gives rise to an important question of where to head off to arrange quick money without being taken advantage of?
Well like a bad fish in a pond cannot completely spoil the entire pond there are some reliable mediums that help people get quick loan to encounter their cash crunch situations. Car title loan is one such very popular medium that has been helping people fight their odd days without feeling sweat on their head. Car title loans Los Angeles cater to people of all sorts. This means people who are turned down by banks and reputed private lenders because of bad credit score, no references, lack of documents etc. can also qualify for a loan.
The advantages with car title loan are many and one can be rest assured that they are not falling victim to malpractice. Car Title loans are clean, transparent and include straight deal. The loan applicant must have a vehicle the title of which must belong to him and must have other documents in place. Mostly vehicle insurance details, no lien holder details, income stub, government issued identity, address proof and some minor details are enough to qualify for the loan. The loan is sanctioned on the value of the car which is estimated after a rigorous vehicle inspection.
The lender keep the title of the vehicle as collateral and the borrower agrees to repay the loan amount in the agreed time line in the contract. The borrower is free to drive his car like he was before opting for the loan. The loan amount a borrower can get based on the value of his car is $2510 to $50,000 which is quite enough to tackle any sort of emergency situation.
Created on Mar 27th 2018 11:56. Viewed 128 times.