Best emergency car title loan, like a sudden home or car repair or an unplanned medical procedure, it’s important to consider your options carefully. While a personal loan is often the best choice for those in need of fast funds, other alternatives are also available. These include credit cards with introductory low or no interest rates, as well as local nonprofits and charities that can provide short-term loans at low or no cost. Other fast cash sources, such as payday and title loans, can trap borrowers in a debt cycle that often leads to financial distress.
The best emergency loan companies offer flexible minimum and maximum loan amounts, repayment terms and competitive interest rates. They also offer prequalification, which doesn’t trigger a hard inquiry on your credit report. They also have convenient online applications and processes.
Keys to Relief: How Emergency Car Title Loans Provide Immediate Financial Help
Upstart, for example, offers a personal loan with a low minimum credit score of 600. Its funding speed is also impressive, with funds generally deposited by the next business day. However, it charges a hefty origination fee of up to 8% of the total loan amount, which can increase your overall cost.
OneMain Financial is another good option for borrowers with bad credit. Its approval process is quick, and it has a lower minimum credit score requirement than other lenders on our list. The company also offers a prequalification tool that doesn’t trigger a hard inquiry, as well as an online application and process.