Many people consider the holidays the most wonderful time of the year. After all, who doesn’t love spending more time with friends and family, going to parties, and eating delicious food?
Unfortunately, holiday festivities can be quite draining on your wallet. If your budget is tighter than usual this year, you can take two approaches to help with your expenses—apply for a title loan and keep your spending in check. Here are tips for doing both.
Do you need more cash for the Holidays? Apply for a car title Loan!
The holidays are coming, and if you need a little extra cash to cover holiday costs, you can take advantage of the best way to get the cash you need quickly—a title loan.
A title loan offers a quick cash infusion that helps you avoid late payment fees and interest. The lender offers a low-interest rate in exchange for your vehicle’s title so you can get your money without a hassle.
Who Needs A Title Loan?
No matter what your circumstances, someone could use a quick payday solution like a title loan for help with holiday expenses. Whether you’re running low on money or have earned too much to qualify for a standard payday loan, applying for a car title loan can help you cover costs without having to borrow from a friend or family member.
Is It Possible To Get A Car Title Loan Without A Credit Score?
Yes, credit has nothing to do with the decision of whether you’ll be approved for an auto loan. Your ability to pay the bill will likely be the determining factor in your application.
Loan amount: The lowest your lender will offer is $1,000. If your plans are bigger than that, consider making a larger down payment when purchasing your car so you can borrow more money right away if deemed necessary. (This is just one strategy. You can also apply for a title loan for larger amounts or for the full value of your car, but you’ll need to take out an additional loan.)
Your credit score: Although your credit score won’t affect the decision of whether or not you’re approved for a title loan, it will be factored into your interest rate. A higher credit score will mean lower interest payments. A lower FICO (Fair Isaac Corporation) score means higher interest payments—often much higher. The average FICO score is about 700. For an idea of how your FICO scores stack up, check out free Credit Reports site.
How to Keep Holiday Spending in Check
Thanks to your car title loan, you have more cash to spend this holiday season than you originally anticipated. Still, you don’t want to overspend on presents, food, and decorations, or you’ll have a harder time paying off your loan. Follow these tips to keep holiday spending in check:
-Make a list: Sit down with a pen and paper, and create a list of holiday gifts you want to buy.
-Be realistic: You don’t need to buy everything on your list. If you see that your Wishlist has gone beyond your budget, ask yourself if you really need the item. Maybe it’s something that won’t add much to your life or something you already have at home. It’s okay to splurge on finer items for yourself, but for the sake of lower-cost presents for friends and family, think about how much you can spend without sacrificing quality.
-Shop around: Use online resources like comparison tables and price guides to help make sure you’re getting the best bargain.
-Don’t spend it all at once: Save as much of your loan as you can. If you have $500 to spend, don’t spend it all right away. Instead, put aside $250 to be used for the first weekend of December, and use only $250 on the second weekend. This way, you won’t feel pressured to buy things for the sake of having money available for expenses during the holiday season.
-Consider gifts in kind: If you really don’t have the cash to buy a gift for someone, consider offering a service instead—there are many ways to give back without spending a dime. For example, offer to mow your elderly neighbor’s lawn for the holiday season, or help someone in need with errands. A gift of service will mean just as much—if not more—than a material object.
-Get the word out: To save money on food and drinks, consider hosting a potluck. This way, you’ll be able to take advantage of things everyone has at home while also saving money on food and drinks. If you plan to do this, make sure you tell everyone what they should bring so they don’t decide to show up empty-handed.
–Shop at a discount store: By going to a discount store and buying the same thing for less money, you’ll have more cash when it comes time to pay off your loan. When selecting items for your list, keep in mind that you can always return something if it’s not as great as you expected. A good place to shop is Value Village—you can find clothes in all shapes, sizes, and colors at incredibly low prices. Look for things that look new and can be easily wrapped as presents.
So all in all, a car title loan is one of the best options that can help you when it comes to paying off debt and you can also use it on big needs and even save then, too.
Title loans have been used by many people all across the Canada. It is easy to get the money you need quickly with this type of loan. You can borrow up to $5,000 or more and be free from any credit check requirements. You will have a very short period of time where you must pay back your loan. The interest rate is as low as 2% for your convenience.