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How A Title Loan Can Help During A New Year Financial Emergency

A financial emergency can come out of nowhere. And sadly, it doesn't matter whether it's New Year’s or not — it will strike whenever it wants to. Whether it's job loss, an unexpected medical bill, a huge home repair, or something else entirely, such situations can throw your finances off incredibly quickly.

While some people have the means to pay for whatever comes their way, thanks to a pre-existing emergency fund. The same doesn't apply to everyone. So, if you've yet to build up a savings pot big enough to cover a less-than-ideal scenario this new year, a title loan from one of the lenders in the Title And Payday Loans network can help, and this article will explain how.

How Title Loans Help During Financial Emergencies

Generally speaking, almost any personal loan could help you in a financial emergency. However, title loans are one of the most convenient.

For instance, traditional loans can take weeks upon weeks to process and reach a final decision, while title loans can be approved as quickly as the next working day. This super-fast process makes an incredible difference if you're trying to cover a time-sensitive situation.

title loan help piggy banks for new year financial emergency

In a similar vein, you don't need to contend with a long list of requirements. Traditional bank loans wrap their offerings in a plethora of criteria for you to meet; title loans flip that on its head. You don't even need a good credit score! Just a vehicle (car, truck, or van), lien-free title, and your government-issued identification, and you can gain approval.

By simplifying the requirements and making the entire process much quicker, getting title loans with the help of allows you to get the money you need to cover financial emergencies in only a few days, ensuring the situation doesn't worsen or become more expensive due to a lengthy loan processing period.

What Type Of Financial Emergencies Can A Title Loan Cover?

You now understand how title loans can help during your time of need, but it's worth knowing the types of financial emergencies such loans can cover before considering the option.

Granted, you can use a title loan to cover almost any urgent financial need. However, the following are the most common:

Job Loss

Job loss is common and can be costly. You'll find yourself without a steady income in a matter of moments, throwing off your short-term and even long-term plans. You may have to put off your goals and figure out how to fund things like your car, house, and credit card bills.

The same can be said for your partner — if they lose their job, your household's financial situation will change with it.

Whether it's you or your partner who's suffered a job loss, you can use a title loan. It certainly isn't a long-term solution, but it can help ease the immediate stress while you (or your significant other) look(s) for another job.

Medical Emergency

The Kaiser Family Foundation (KFF) notes that roughly 41% of American adults have debt from dental or medical bills.

Cost will be the last thing you think about when health emergencies arrive, but it won't be long before it looms over your head. From the direct costs of staying overnight in the hospital, having diagnostics tests, and treatment to the indirect costs of medical urgencies, like lost wages from taking time off, it all adds up. So much so that even those with health insurance plans struggle to pay the seemingly never-ending bills.

Title loans can pick up the slack, giving you enough breathing space to fully heal and get medical debt off your back.

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Divorce is very common yet often overlooked as a financial emergency. Whether you go through a complicated, messy divorce or not, it can still cost thousands upon thousands.

On average, divorces in America cost between $15,000 and $20,000, with a median of around $7,000. However, the cost is generally determined by the relationship between the spouses, the filing's state, children, and the number of assets. Depending on the state, some couples can file their divorces, reducing the cost. 

Even when the divorce is finalized, the long-term costs can affect finances. After all, splitting with your spouse generally means moving from two incomes to one — a hit that would be hard for anyone. Thus, title loans can cover the costs of newly increased bills.

Get A Title Loan To Cover A Financial Emergency In The New Year!

A title loan helps to cover the cost of a financial emergency when you don't have enough funds to pay for it alone. While it isn't a long-term solution, it's a safe, convenient option for one-off situations, providing you with some extra cash when you need it most.

If you need to get a title loan to fund a medical bill, veterinary fee, divorce, job loss, or a similar scenario, complete the online form at Once that form is received, you will be connected to a loan representative from one of the lenders in our network of licensed vendors who will walk you through the rest of the loan process.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Louis Tully

Louis Tully is a full-time finance writer offering financial expertise to everyday consumers. He understands the core values of finance and used his writing talents to share his own experiences with money to his readers. His articles teach how financial failures can easily become successes by making new habits and creating realistic goals.

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Qualify for a Title Loan or Payday Loan Today!

You can be approved for title loans or payday loans in as little as 30 minutes! After approval, our licensed vendors will arrange for you to get your money—up to $1,100 for payday loans or $15,000 for title loans. Fill out the simple, free online form now, and we will get you in touch with a lender's loan store near you to complete the process. Qualify and get the fast cash you need for emergency expenses as soon as today!