How Are People Using Title Loans During COVID-19

April 14, 2020 | Peyton Sawyer

 

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The coronavirus pandemic has hit everyone in a different way. Some of our brave are working on the front lines saving lives, others are making food, stocking shelves and providing the essentials, while some are working from home, or not working at all. Those of you who are not working are most likely struggling from one day to the next, wondering when unemployment will kick in or when you will receive the stimulus check our government has provided to help us get by. But no matter what your situation, we are all scared, whether it is for ourselves, our loved ones or our neighbors. This virus is taking a toll on people all over the world.

Unfortunately, if you aren’t working then you are not only stressed about keeping safe but how you will pay your bills and eat until the business closures are lifted and you can return to work. It is terrible, not being able to support and fend for your family in the way you need to. With the stay at home order and business closures in full effect, how can you make or get the money you need to provide? Many people are using title loans to get extra cash during COVID-19. This type of lending solution is typically an easier option than traditional methods that require a stringent approval process.

What Are Title Loans?

A title loan, also known as a car title loan, is a short-term loan that requires an asset (an owned vehicle) to be used as collateral for approval. So, if you own a motor vehicle with a lien-free title, you can cash in on the value of that vehicle to receive money.

Title loans have become a more popular option for receiving money. The growing popularity is a result of the easy approval process. Unlike traditional loans, qualifying for a car title loan is often easier than qualifying for a traditional loan from a banking institution. Approval for this type of loan does not require a credit check and cash can be received the same day you apply. As an added bonus, you can keep driving your vehicle while you make payments on the title loan cash you receive. That’s right! You will only be asked to supply the lender with your lien-free vehicle title in exchange for the title loan cash you are approved to receive.

 

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How Can You Get A Title Loan in Texas?

Requesting a title loan online will provide you with the convenience of completing the title loan process right from the comfort of your own home. There is no need to visit a store location when the representatives at Texas Car Title and Payday Loan Services, Inc. are willing to come to you. All you need to do to get started is complete the online request form, and a representative will call to confirm the information you have provided. During that call, the representative will also explain the easy requirements needed for title loan approval and set up a time to meet at a location of your choosing. If you would prefer to complete the title loan process in person, you can also visit a Texas Car Title and Payday Loan Services, Inc. store location for title loans Houston or another service area located in Texas. It’s up to you. With several store locations throughout the state, it should be easy to find a location near you.

 

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How Can Title Loan Cash Help During This Pandemic?

Whether you apply for a Texas title loan because of the COVID-19 pandemic or for any other reason, there are never any spending restrictions. You can spend the cash you receive any way you would like. That means if you need to pay a bill or pay off a debt, buy medication or cover medical expenses, make a repair or a purchase, or even buy food and supplies during these trying times, you can with the help of title loan cash.

There is no need to worry about the stay at home order and business closures when you have the option to receive the cash the very same day you need it. The approval process for a title loan is fast and easy. With just a few simple requirements, along with a quick inspection to determine the value of your owned vehicle, you can receive much-needed cash to handle your expenses while we try to get on the other side of this outbreak. But, like any loan, be sure to only borrow what you need, so that repayment is manageable.