Unless you come from a stable background or you have a business that is automated to fetch you a decent income, funding a college education can be a lot challenging to most people. With the growing poor economy and bad to no credit that college students face, only a very few students can attend college without taking side hustle.
Unfortunately, many colleges do not allow their student to work outside the school, and most students that do receive peanuts because they cannot work fulltime and neither do they have the qualification that can fetch them above average income.
Grants and scholarship can be of help,but they are not sufficient in the long run. It’s high time you sourced for an alternative loan since the traditional loan lenders that is your bank are no-go-area, no thanks to the bad credit.
Assessing a Car Title Loan
You may have seen some funny commercials about a car title loan on televisions or heard it on radio channels. It’s a form of loan where you get some fast cash based on the worth of your car. Otherwise called a pink slip loan or u-drive loan, a car title loan is easily accessible and is open to anyone who owns a carregardless of credit status.
How a Car Title Loan Works
The car title loan requires that you hand over the ownership right of your car to the lender. Note that you still have access to your car and you can drive it within your loan repayment time. When compared to the traditional bank loan, a car title loan is processed faster,and the most significant advantage it possesses is the absence of credit score consideration.
Car title loan canbe processed within a short time with the loan disbursed on the same day of completing the application. The loan can be used in purchasing books and other items needed to succeed in your studies. Upon providing some documents and verifiable source of income, you will get the loan in no time.
Based on your lender, you can get up to 50% of the value of your car. It is necessary to note that you will still be in possession of your car throughout the duration of your loan. You are strongly advised to borrow what you will be able to repay within the stipulated time.
Although forfeiting of the car on failure to pay back the loan is considerably low, estimated to be between 4-8%. However, it is better to borrow only the amount you can afford to pay back. The amount that will cover your necessary expenses is just perfect to you.
As a student, you don’t have to subject yourself to unnecessary hardship while undergoing your studies. To purchase the book, buy course material, undertake a project or take care of other pressing needs, a car title loan is an excellent option for you. What else are you waiting for? Contact an online lender now and start enjoying unlimited access to emergency loans!