Can you use your car to pay your college fees? Yes, you can by using your car title as collateral to take out car title loans. To get approved, you must have a clear car title, and can even keep your car while you repay the loan.
A secured, short-term loan can be taken out to pay for emergency expenses by putting up your car equity as collateral. These are called car title loans.
But how do you make do without a car in college?
Well, with car title loans, residents do not have to give up their cars. They can continue to drive it while they pay back the title loan.
Car Title Loans: Students’ Ideal Source of Fast Cash
These loans are also available to people who have bad credit or no credit history and they have longer repayment options.
This makes them ideal for students who need emergency cash to pay tuition and have no credit history. These loans can supply large amounts of cash in a short turnaround time. Car title loans can pay for emergency college expenses
There are many different types of college expenses where timeliness is an issue, including:
* Tuition: Some schools will not allow students to attend class until tuition is paid in full.
* Travel expenses: Getting to and from school for holidays and breaks can add up.
* Books: The required books for a semester of classes can cost hundreds of dollars.
* Housing: Students often have to pay for on-campus or off-campus housing.
Borrowers who have a car with a clear title and a source of steady income can use their car title as collateral to get quick cash online in order to cover college expenses.
Make sure to work with a reputed lender that offers flexible payment terms and competitive interest rates. Calculate the annual interest rate to make sure you know how much you will have to pay.
As long as you have a clear car title and the documents to prove that your car is paid for or nearly paid for, it is easy to get approved. Most car title loan companies accept applications online or by phone and will notify you if you’ve been approved within minutes.
For students, a car title loan can help them cover emergency expenses until they can work out another source of funding. If paid back on time and on schedule, they could even help a student establish a good credit history and allow the student the opportunity to use conventional funding in the future.
You can even drive your car while you repay your loan. Now, what could be cooler than that? Fill out the form and apply.