Online title loans have gotten a bad reputation in the financial market. The smear is primarily accurate for some companies – the ones that offer 30-day loans, which have been compared to payday loans. Everyone knows, unless you have something that will significantly affect your budget within the 30-day term of that loan, it’s just going to set you back further instead of helping. So, is the company at fault for offering the borrower what they asked for in the first place?
You need to change that cycle of debt. One way is to make that online title loan work for you. Make sure you know the terms and conditions. You’ve heard it a million times – read the fine print. Ensure you will be able to pay it off without negatively impacting your other expenses, or you will need another and another. Adjust your budget and pay down your debt.
Read & Compare Online Title Loan Terms & Conditions
Most people never read the conditions of their loan. That’s fine if you figure out exactly how to end up at a zero balance by the end of the repayment schedule. Many do not do that. They take out 30-day loans knowing, without a miracle, they will not be able to repay it and will need to refinance.
Speaking of refinancing, if you have an online title loan with another company, talk to our customer service representatives about refinancing. You might find you are eligible with us for a longer repayment schedule. You might even get some cash back to help pay down some other debts.
Adjust Your Family Budget
One way to stretch your budget is to have more money to commit to it. Take more hours at work, look into flexible, remote jobs you can do online from home, or look into doing some odd jobs around where you live. Sell some of those things you no longer need or use. Take pictures and put them on eBay®, or have a garage sale. It’s like they say: One man’s trash, is another man’s treasure.
Pay Down Your Debt as Often as Possible
Instead of using that tax return to buy a new phone or stereo, use it to pay down debt. Don’t just give it to the credit card company or lender, make sure it goes straight to the principal. Paying only the minimum means you will wind up with a negative impact on your balance. In other words, the minimum payment is less than the interest on the debt. It’s kind of like running on a treadmill, you keep running and running, but you never get anywhere.
Contact Advantage Finance, LLC, to Get an Online Title Loan
Call Advantage Finance, LLC, (281) 410-5337, today. When you have an online title loan that is coming to an end without resolution with another company, it could mean losing the family car. Don’t let that happen. Talk to us about refinancing. Use our convenient contact form to apply in minutes. Email your questions to, firstname.lastname@example.org.