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When to Take Advantage of a Short-Term Loan

When to Take Advantage of a Short-Term Loan

More often than not, the main drive to take out a short-term loan in Memphis is an unexpected or urgent situation. Whether it is domestic, like a bad storm felling several trees in your backyard, or medical, as in an impromptu biopsy during a routine dermatologist visit, there are several advantages to taking out a short-term loan to handle all your financial emergencies.

Valuable Collateral: Even though you might have savings in the bank for emergencies, those funds weren’t necessarily scrimped and saved over the years to be gutted by a busted air conditioner or a cracked tooth. If you are hesitant to dip into the kitty to pay for these quotidian quandaries, a short-term loan can provide a budgetary bridge between your wallet and savings account. It is also an easy way to problem-solve, as your valuable collateral is sitting out in the garage. A title loan allows you to leverage your vehicle’s value, and all you need is a drivable vehicle, its lien-free title, and your photo ID.

Fast Money: Another advantage of taking out a short-term loan is that it gives you money fast so that you can handle your emergency immediately. A loan process at the bank, or applying for a new credit card, can take days or even weeks. When you have a month’s worth of groceries spoiling in a broken fridge, you can’t waste time waiting on these financial institutions’ decisions. Taking out a short-term title loan at Mid-South Title Loans in Memphis means that you can drive in to our offices and back home, cash in hand, within twenty minutes.

No Long-Term Commitments: The general idea of taking out a loan can often intimidate people because it implies a long-term commitment with an extended repayment period. However, a short-term loan is just that-it is a title loan based on a 30-day renewable contract. With loans ranging from the hundreds to a few thousand, the amount can be rapidly repaid. However, at Mid-South Title Loans, if you can’t repay your loan in full within that period, you can renew your contract for another 30 days.

No Credit Checks: The last and perhaps best reason to take advantage of short-term loans in Memphis is that your credit rating can’t be held against you. Mid-South Title Loans wants to help you get the fast cash you need with no hassle and therefore will not require a credit check for qualification. If you need quick cash but have either a bad or nonexistent credit rating, a short-term loan is the simple solution.

With so many advantages to taking out a short-term loan in Memphis, a title loan is an easy solution to meeting any unexpected financial emergencies. Mid-South Title Loans company loans range from $150 to $2,500 based on the value of your vehicle. We have three convenient Mid-South Title Loans locations throughout the Memphis metro to serve our customers: 1680 Winchester Rd, 4965 Summer Ave, and 2798 S. Perkins Rd. If you need a short-term loan in Memphis, all you have to do is fill out our convenient Title Loans Online Info Sheet, or stop by any of our three Mid-South Title Loans locations in Memphis and see us today.

 

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OUR LOCATIONS

1680 Winchester Rd
Memphis, TN 38116
Phone: (901) 346-1040

4965 Summer Ave.
Memphis, TN 38122
Phone: (901) 821-9211

2798 S. Perkins Rd.
Memphis, TN 38118
Phone: (901) 794-5460