Having a vehicle of your own is the most significant blessing nowadays. Public transportion is expensive, and it is not possible for everyone to afford it along with unreliability and inconvenience it involves. The possession of personal transportation will make you self-sufficient and increase your employment opportunities.
Owning a vehicle of your own is very good, but when it comes to repairing that very car, then it becomes one of the biggest headaches. This problem will be further aggravated if an individual belongs to the low-income group. Car repair occurs when they are least expected, and they tend to be very expensive in nature. This kind of situation poses a dilemma for the car owner. If the car were repaired, it would leave a considerable dent in the wallet. If a vehicle is not repaired, well there is no other option than fixing the car.
Car Repair Assistance Programs
Estimating the seriousness of this matter some public and private companies have started to offer a solution to these problems. Today, a variety of loans near me in Las Vegas options are available for car repair.
The most common type is the insurance. If the car is insured, then the repair of the vehicle is covered by the insurance company. Another way of dealing with car repair is getting them repaired on credit cards. Well some credit cards to offer some benefits or rewards, but is not an excellent option for taking money at such high-interest rates from banks.
The most feasible option in this regard is easy loans options on cars. Considering the needs of the customer, government car repair assistance program and some other programs offered by private companies will provide their customers with up to $1500. This is the case with the old customers. If the customer is new, then these corporations offer $300-$400 for an unsecured loan.
If the individual does not know how to pay for car repairs without money, then one easy option is a car collateral loan. Under this loan considering the condition of the car and individual’s income, one can get a loan up to $50,000 for the car repairs. The benefit of such a loan is that you get to keep driving the car, but the title will be held with the lender until the loan is paid off.
Things to Consider Before Getting a Loan
But before going for car repair loans, it’s necessary to keep the following points in mind for your car safety.
- First, the lender has a physical office; it is better to see and talk to the lender when something goes wrong.
- Secondly, it should be a member of Community Financial Services Association of America. This will increase the credibility of the lender.
- Then, the lender should have extensive knowledge regarding the lending laws of the state, which is here in Las Vegas, NV. Knowledge of lending laws will prevent any grievances in the future.
- To ensure the security of your asset and money, it is of utmost importance that the lender should have a secure website. This can be checked, if the website address starts with https and have a green lock on the upper left corner, then the website is legit.
- Next, the annual percentage rates of the lender should be competitive with other lenders. These should be available on the site since it is a law to have them posted.
- Lastly, it is always advisable to find a direct lender instead of the third party. Third party lenders have a habit of distributing individual’s application to various lenders.
Car Loan Programs In Las Vegas
We have discussed the options available for assistance in car repairs. But specifically, in Las Vegas, there is a quick cash loan, known as a title loan. These loans are considered as an ideal option when it comes to the quick title loans near me in Vegas. These loans rangie from $100 to $50,000 and can be processed for the customer in as little as fifteen minutes. The car of the customer will be used as the collateral. Interestingly this loan option covers all types of vehicles. Moreover, they offer an opportunity for no payments for the title loans which are new for up to thirty days. The benefit of this loan is that the customer will be able to keep his car and get the money as well. The repayment of the loan can be made in installments or a lump sum. It is based on what the customer would like.
Procedure for a Title Loan in Las Vegas
The method for attaining a loan is straightforward to follow. Below is the list of the procedure:
- First, fill the online application form to start the loan process. This application form is available online or at a store.
- In the next step, the customer will get a phone call from the loan officer regarding the amount of the loan.
- Then the customer must bring his vehicle to the nearest inspection center based in Las Vegas, for a brief inspection of the car.
- Lastly, review all the terms and conditions of the loan. Sign the relevant documents. Take your car and loan money.
Requirements for Title Loans in Las Vegas
Following is the list of requirements for the eligibility of title loans in Las Vegas:
- Be a resident of Nevada.
- Be the owner of the vehicle.
- Have a clear title for the vehicle.
- Be at least eighteen years old.
- Not be actively serving in the military.
- Have an Open a checking account.
- Have a proof of the income.
- Have an I.D. issued by the government.
- Have at least two references, which are personal, not professional.