How To Get An Uber Driver Loan
April 15, 2022 | Louis Tully
Driving for Uber can be a tough life. Your income is heavily reliant on the number of people that need ferrying about New Mexico, as well as the amount of competition that you have. There are some days where you can make bank and other days where you earn barely enough to cover gas. This can make it exceedingly difficult to cover emergency expenses. It is no wonder so many people consider an Uber driver loan.
On this page, we are going to provide a method that Uber drivers can use to get their hands on cash to cover emergency expenses. If you own a vehicle, then you may like this.
What Is An Uber Driver Loan?
There are a few different types of loans available for Uber drivers. The one we want to focus on is a vehicle title loan. This is because we assume that most Uber drivers own their vehicles. With New Mexico Title Loans, Inc., you can borrow between $300 and $10,000. The amount that you can borrow will vary based on how much your vehicle is worth.
The one thing that we ask is that you have a lien-free title to your vehicle. This means that if you have any outstanding charges on your title (including financing), then this may not be the option for you. Don't worry, contrary to popular belief, you won't lose access to your vehicle when you get a vehicle title loan. This means that you can continue to drive for Uber while you pay your loan back!
Who Might Need An Uber Driver Loan?
An Uber driver title loan is designed for those that need access to emergency cash. For example, you may need to borrow money to cover the following:
- Medical expenses
- Vehicle repairs
- Home repairs
- Ensure that bills don't go late
- Appliance replacement
- Pet bills
If there is an expense that needs to be covered and it simply cannot wait until you get paid next, then a title loan may be an option for you.
How This Type Of Loan Works
One of the perks of this type of Uber driver loan is how fast the lending process is. In most cases, you can go from filling in an inquiry form to signing your loan agreement in under an hour. The cash could be in your account the same day. Let's walk you through the process.
Telling Us You Are Interested In a Loan
To start the process, you will need to let us know that you are looking for a title loan. You can do this by filling in the short form on our website. You can also give us a call. In both cases, we will pass your info on to your local New Mexico Title Loans, Inc. borrowing location.
Speaking To Us On The Phone
Shortly after you drop us your information, we will give you a call. We love talking to people on the phone. During the phone call, we will go through the following:
- We will give you an overview of title loans
- Let you ask any questions about the process
- Ask you where you want the vehicle inspection carried out.
The last part is one of the most important parts of the process. Here at New Mexico Title Loans, Inc., we are flexible. You can either come to your local borrowing location, or we can come to you.
Meeting Us For a Vehicle Inspection
Shortly after the phone call, we will meet you for your vehicle inspection. During this inspection, one of our experienced inspectors will value your vehicle. The value will be determined using an industry-recognized price guide. We will also check your documents.
Signing Your Loan Agreement and Receiving Your Cash
If we can offer you a loan, you will be told how much. Once you have signed your loan agreement, we can send the cash to your checking account. This should arrive by the end of the next working day.
Drive For Uber? Need To Borrow Cash?
We have already told you about how speedy it is to get your hands on an Uber driver loan. However, there are a few more things that you may wish to know about this type of borrowing. For starters, all credit situations can be considered. This means that we aren't going to automatically reject you if you have a bad credit score. We consider your entire personal situation when making a lending decision.
Unlike most other loans, we don't have any income requirements either. This means that you do not have to provide us with details of your Uber income. Although, we do advise you to think a little bit about how you plan to pay the loan back.
Finally, we don't even have any checking account requirements. We can provide you with the cash that you want to borrow in other ways. Although, we do anticipate that the vast majority of people looking to borrow cash as an Uber driver will have a checking account. After all, that is how Uber sends payments to their drivers.
Borrow Cash Today
Uber work a little bit slow? Emergency expenses that need to be dealt with? An Uber driver loan could be for you. You may be able to borrow cash in just a few hours. Get started by filling in our vehicle title loan inquiry form today.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.