Title Loans Express, a financial aid provider, has recently launched an educational guide aimed at helping people understand how to get financial aid using their vehicle title, sometimes called a pink slip, as collateral. This practice has seen a rise in popularity among vehicle owners in need of financial aid due to the simplicity of the application process, and how easy it is to get cash even if one has bad credit. The guide provides a great deal of detail regarding what exactly one can hope to get by using their pink slip as collateral. Read more about pink slip loans by following the link.
Nowadays, very few people use their bank or local credit union for emergency funding since there are far more options for anyone looking to secure emergency funds. Banks are still an option, but their greatest weakness is the amount of time it takes to get a request for financial aid processed and approved, along with the strict requirements one must meet before the bank even considers approving the application. Often, banks also require that one have very good credit, which is something that can hardly be expected from an individual that is looking for financial aid.
When one applies for financial aid using their pink slip as collateral, it is possible to avoid all the strict requirements and long waiting periods normally associated with banks and other similar institutions. When one chooses to go the pink slip route, they may find that they qualify for financial aid despite their bad credit, and this allows people in dire financial situations to get access to funds quickly and easily. One must understand what they are getting into, however, and TLE’s guide, The Ultimate Guide to Pink Slip Loans, offers a great deal of information on the subject.
Applying for financial aid using a pink slip is ideal for many people because it is easier and faster than traditional sources of emergency cash. Finding out if one qualifies is usually a very short and simple process. One only needs to supply the financial aid provider with some basic information and then their application is taken into consideration. The applicant will be informed if they qualify or not and if they do, what documents to send through to complete the application.
Credit checks are usually not required due to the fact that the pink slip acts as collateral, meaning the amount one qualifies for is determined not by their credit score, but by the value of their car. The only other important factor that goes into deciding whether or not one qualifies to receive financial aid, is their ability to pay back the money they are given. One’s ability to repay the cash they are given is determined by industry experts who analyze all the factors involved before approving the application.
Those with older cars that still need a source of financial aid can still find the help they need as even older cars may have a high enough market value to act as collateral. “The market value of your vehicle is determined when you apply,” the guide says. “You submit the make and model and year along with mileage. A percentage of this value is what you’re offered to borrow.” Those with a greater ability to repay the amount they are given qualify for a larger amount of money when they apply.
The requirements when attempting to apply for financial aid using a pink slip are quite simple. One must be 18 or older, hold a valid driver’s license or ID, be the holder of a vehicle title with no liens, must be able to provide proof of residency, and must be able to provide proof of income.
Title Loans Express provides financial aid to vehicle owners in 29 states. The company is ready and willing to help applicants get the cash they need using their pink slips as collateral. Those who are interested can apply online, or by calling TLE today. Read more at the following link: https://www.titleloansexpress.com/blog/.
SOURCE: Press Advantage [Link]
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