woman applying for a secured loan using car title

When You Should Get A Secured Loan Using Car Title

Deciding when to get a loan can be a challenge for anyone when they are going through emergencies. After all, going into any kind of debt by taking out a loan should be left as a last resort. If you can help it, try to find other ways to help before looking for a secured loan using car title.

If you find yourself in a financial bind with no clear path to alleviate your financial burdens quickly, getting a short-term secured loan using car title just may be an option worth considering. Before you look into getting a secured loan using car title, there are a few things to ask yourself before taking out the loan.

Ask These Questions Before Looking At Getting A Loan

What Is The Loan For?

Getting a secured loan using car title – or a quick auto title loan – shouldn’t be done for frivolous spending. Most lenders – including us at New Mexico Title Loans, Inc. – encourage that these types of loans only be taken out for emergency funds. Some examples of emergencies would be:

  • Unexpected and time-sensitive home or vehicle repairs;
  • Emergency medical bills;
  • Unexpected and important travel costs;
  • Utility bills or rent.

Are You Looking For A Short Or Long-term Loan?

Another important question is to ask yourself is whether you need a long or short-term loan. Sometimes when you need funds, you’ll find that you’d be able to take on that financial emergency if only given a few weeks or paychecks. But alas, emergencies are never considerate of when you would be financially prepared for one.

With that in mind, a secured loan using a car title is a loan designed to be given on a short-term basis. If you find that you would only need a short-term loan and will have the finances to tackle it given a little time, then getting a secured loan using the title of your car may well be for you.

Have You Exhausted All Other Options?

As mentioned, getting a car title loan should only be used for emergencies and as a last resort. With that said, it is important to ask yourself what your options are before settling on any one type of loan – including our title loans online – for financial relief.

Can You Ask Family Or Friends For Financial Help?

One of the best resources any of us has is our friends and family. If they know you are good for your word and fiscally responsible, you shouldn’t be ashamed to ask them for a little financial help when you really need it for emergencies that hit you.

You may be surprised to find that even if they can’t help with the bulk of the finances, they will offer what they can. At the very least, you may not need as large of a loan as you previously thought. You can also try posting up a link on your Facebook page to a GoFundMe account to get the word out to family and friends more speedily.

Can You Use Existing Or New Credit Cards?

Many Americans rely heavily on credit cards to help manage their finances. If you already have one or even a few under your name, then using them to pay your emergency would be ideal than choosing to take on new loans.

You can even try applying for a new credit card depending on how fast the approval process is, your credit score, and the length of time needed for you to pay it off. Keep in mind your credit score plays a big part in whether you can get this new credit card or not.

Do You Have Items You Can Sell?

There are plenty of apps for you to take advantage of to get quick cash in your pocket while simultaneously decluttering your living quarters. After all, you know as the saying goes, “one man’s trash is another man’s treasure”.

There is Amazon marketplace, Offer Up, eBay, Poshmark, Letgo, and, with a quick Google search, many more that allow you to put items up for sale. You can sell anything from old clothes to furniture to appliances. You set the price of everything you are looking to get rid of.


woman got financial relief with a loan using car title


Getting A Secured Loan Using Car Title

If you find yourself looking for a short-term loan with the above options unable to meet your financial needs, then you have very likely answered the “when” part of when to get a secured loan using car title. If that be the case, you needn’t look further than New Mexico Title Loan, Inc. because we offer customers many benefits.

So if you have a lien-free title to use as collateral, you can get through our process and find out if you qualify. We make sure our process is quick and easy for you to get through. Here are some benefits to our car title loans you need to know about:

  • Get anything between $300 to $10,000 in title loans.
  • A quick and easy process to obtain the loan.
  • Funds received anywhere from the same day to the following bank business day.
  • You choose the inspection location or come to the nearest New Mexico title loan.
  • We welcome all types of credit.
  • Store representatives that walk you through every step.

If you have a lien-free vehicle available for inspection, the title to said vehicle to use as collateral, and a valid driver’s license or another form of government-issued I.D and are 18 years of age or older, New Mexico Title Loan, Inc. could potentially help you with that financial emergency. Just fill out our online form to get started on our simple process.

Fill Out An Online Form Today!

The next time you have emergency expenses you cannot handle, you don’t have to! If you’ve gone through all of our suggestions and feel a title loan can help, start the process today. Fill out the online form to have a representative contact you and find out if getting a secured loan using car title is the relief your financial emergency calls for!

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.

New Mexico Title Loans

If you are searching for a convenient way to get a title loan, look no further than New Mexico Title Loans, Inc. We offer online title loans where not store visit is required or in-store title loans and installment loans. To get started, fill out the simple online form above or give us a call at any one of our convenient store locations.

All you need is the following items:

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

When you’re ready to get the emergency cash you need without all the hassles of a traditional loan, New Mexico Title Loans, Inc. has you covered with a car title loan up to $10,000 today.

New Mexico Title Loans