How To Get Money From Your Car While Still Driving It
Knowing how to use your car’s title effectively when you need emergency cash is a possibility most people miss out on simply because they are unaware. Here’s how to get money from your car while still driving it.
You can get money from your car without selling it by using it for transportation-based services like ride-sharing or food delivery. The best way to get money from your car, however, is to use the title for a title loan.
There are lots of effective ways you can get money from your car while still being able to drive it, and the rest of this article is going to discuss how you can use your car to earn or borrow money.
How You Can Get Money From Your Car
Earning money from your car or using it to get quick cash is a good use of your investment. Whether you’re looking to pick up a quick side hustle or need some fast money to handle a medical emergency, you have options using your car.
Services That Require Transportation
If you need to pick up a side gig, using your car to deliver food with services like GrubHub and DoorDash or transport people around town with services like Lyft is a good way to make some side cash.
These are all opportunities that are available to get money from your car, and you can pick and choose when you want to take on these jobs.
As surprising as it may seem, maintaining your car well and keeping a spotless service record is practically putting money in your pocket and helping you get money from your car.
The better you keep your car, the better resale value it will keep over the years. When it comes time to buy a new vehicle, the money you’ve saved from taking good care of your car will be reflected in the sale price.
Getting A Car Title Loan
A car title loan is an amazing resource that not enough people know about. Using the title of your vehicle as collateral to get a loan is a great way to secure some fast cash for emergencies.
Better yet, getting a title loan is dead simple. All you need to do is find a trusted lender and apply on their website.
The Process Of Obtaining A Car Title Loan
Once you’ve done that, a representative will be in touch with you shortly to meet with you and assess the value of your car. It’s important that you have a lien-free title for your car at this point.
Once the representative has met with you, they’ll let you know whether you’re approved to qualify and talk about the terms of the loan with you.
If you have any questions at this time, make sure that you ask so that you understand your responsibilities during the repayment period, and always make sure you have a plan in place to repay the loan according to the terms laid out by the loan office.
Can I Keep Driving My Car?
One common misconception about title loans is that the lender will keep your car and not let you drive it throughout the loan repayment process.
While this used to be the case, any reputable lender will let you keep your car and still drive it, allowing you to get money from your car and still drive it!
You will, however, be obligated to let the lender hold onto the title during the loan. This is just for collateral purposes as a secured loan and using your title this way can actually net you more favorable loan terms than other traditional types of loans. Once your loan is repaid, your title will be returned to you.
How Southwest Title Loans Can Help You
A car title loan seems intimidating to some people, but with Southwest Title Loans, you can rest assured that their friendly, knowledgeable staff is on standby to help you understand the process behind the loans and what’s expected of you throughout the loan repayment period.
When applying with Southwest Title Loans, you’ll be required to have a driver’s license or another form of state-issued ID, the lien-free title for your vehicle, and availability to meet with a representative to inspect your car.
If you’re approved with Southwest Title Loans for a car title loan, then you can potentially get your money the same day or on the following business day.
Submit Your Inquiry Now!
For those struggling with emergency expenses that are too much to handle, using your vehicle for a car title loan is a great way to get money from your car. Southwest Title Loans has been leading the industry in providing fast cash to those who need it. Don’t stay trapped with big medical bills or major repairs; fill out an application with Southwest Title Loans today!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.