Some Title Loan Alternatives To Consider

I’ve written extensively about title loans here on the site, but we often overlook some of the alternatives that are out there. I personally don’t like the chance of my car being repossessed, so I would likely take any of these loans first, but that’s just me! This post will offer up some things you might have already considered, as well as some more obscure options that can provide you the cash that you need. We’ll work from the least expensive options up to the ones that cost an arm and a leg!

Get It From The Bank

Bank loans will always be your most affordable option. The problem with that is that you need at least a decent credit score to qualify. I will assume that since you were considering title loans you’re not working with a great credit score, so let’s see how we can get around that.

Having a cosigner can go a long way to getting approved for a loan. The problem with this is that if you screw up on the loan you’re going to screw over whoever it was that signed the loan with you. Please, only take this route if you are absolutely sure that you’re not going to miss payments, you aren’t the only one who’s on the hook for the loan!

If you don’t need the loan quickly, there are some things that you can do to quickly improve your credit score. Get a copy of your credit report and check it thoroughly to make sure that there aren’t any errors on it. Getting these errors removed can boost your score extremely fast. Explaining how to fix those errors doesn’t really fit this site, so check out what credit.com says about it if you feel this applies to you.

Some banks also offer a loan that is very closely related to payday loans. These are generally only offered to those that get paid through direct deposit. Off the top of my head, Wells Fargo offers them. They only cost a fraction of what a payday cash advance would, so if you only need a few hundred bucks you might want to take a look at that.

Peer To Peer

P2P lending is something that I’m not totally educated in, but I know some people have had success with it. I do know, however, that you’re going to need a good credit score if you’re looking to borrow from one of the big P2P lenders. Check out what Prosper says about their loans. They carry a great rate, one that may even be lower than what you would get at your bank, but that good score is needed.

Installment Loans

A new type of online bad credit loan is the installment loan. These work like really big payday loans, and will offer you several months to get them repaid. Check out our page that has some lenders on it here. This is definitely the most expensive choice out of what’s already been discussed here, but it is also the fastest. You can expect your loan to only take a day or so to show up in your bank account.

Anything Else Out There?

There are tons of ways to borrow money, but many of them I don’t really feel comfortable sharing because of how shady they are. Sticking to the options discussed here will likely keep you out of trouble as long as you are responsible and pay it back properly!

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My name is Lydia and I'm and expert at getting fast cash. I've been through it all, and now I want to share my experience with you

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