what to use a title loan for

What You Can Do with Your Wisconsin Title Loan

Struggling with your finances is never fun. Lacking the income to cover all of your expenses or not having the ability to handle an unexpected cash emergency can set you on an unhealthy financial path. When this happens, you try to find any means necessary to get the extra cash you need. The necessary means may be a title loan in Wisconsin, or it may be another funding source, but either way, finding some quick cash to address your financial issues is essential. You are not alone. Many people in Wisconsin, as well as all over the United States, at one time or another, find it difficult to stay current on monthly expenses or address a financial emergency. Whether the shortage of funding is due to a job loss, insufficient wages, an unexpected event, or anything else that can prompt the need for extra money, you are forced to deal with it head-on.

Traditional Bank Loans

Those of you that are living from paycheck to paycheck know exactly what being in this type of situation means. You need to find a funding solution that can get you back on track. Some of you, if you still have good credit, use traditional funding methods, such as; a bank loan. But, if you do not have good credit or have not been able to build good credit or keep it in good standing, then you know the traditional way of borrowing money is not an option for you. With the stringent approval process banking institutions insist upon, bad credit applicants are considered high-risk and do not have what it takes to qualify.

Title Loans

Non-traditional loans from private lenders have become so popular. With the easy requirements, quick approval process, and no credit check, more and more people are opting to secure alternative funding with title loans. There are several title loan locations to choose from if you search for title loans near me. With the help of friendly representatives at Wisconsin Auto Title Loans, Inc., you can find a convenient store location in no time.

How Do Title Loans Work?

Are you wondering how title loans work? A title loan is a short-term loan option that is secured with an asset. The asset, or owned vehicle for this type of loan, is used as collateral to receive cash. The amount of cash you are eligible to receive will be determined by a quick vehicle inspection. The make, model, year, and condition of your vehicle, as well as some required documents, will be considered when determining a title loan amount. Amounts will vary.

What Do You Need to Qualify for Title Loans in Wisconsin?

If you have searched for title loans near me in WI, then you know, it is actually quite simple to qualify. With just a few simple requirements, title loan cash can be in your hand the very same day you need it. The title loan process at Wisconsin Auto Title Loans, Inc. typically takes 30 minutes or less. All you need to qualify for the title loan cash you need today is; a vehicle that you own, a lien-free title to that vehicle, and a valid government-issued ID, such as a driver’s license or a state-issued ID. In addition to those documents, a quick vehicle inspection will be required to determine your vehicle’s value.

Required Items for a Title Loan in Wisconsin:

  • Driver’s License or State Issued I.D.
  • Lien-Free Title to Your Vehicle
  • Your Vehicle for Inspection

What Can You Do with Your Wisconsin Title Loan?

You are free to spend the car title loan cash any way you wish. There are no spending restrictions on the cash you receive. Use it to pay a bill or pay off a debt, buy medication or cover medical expenses, make a repair or a purchase, and more.

If your shortage of cash is due to the coronavirus pandemic, then an auto title loan may be the only option you have right now to pay bills, buy food, and stock up on supplies. During these trying times, know that a title loan can provide the immediate cash you need to survive. But, like any loan, be sure to only borrow what you need, so that repayment is more manageable.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

June Mckaig

June Mckaig writes articles on finance and budgeting, hoping to provide insight amidst the overwhelming crowds of information on the internet. She feels that with all this accessibility comes a lot of false data, and she would like to contribute astute, helpful input that she knows can help others. If you would like to learn more about June's research, read more here.