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5 Benefits of Choosing a Short-Term Loan for Tough Financial Situations

5 Benefits of Choosing a Short-Term Loan for Tough Financial Situations

When you’re in a financial pickle, it can be really stressful. You have bills that are overdue and may even be in collections. And there isn’t enough money to cover your needs – perhaps even your rent or mortgage.

People get in tough financial situations, due to many different reasons, but a lot of times, it’s after a job loss. When times are tough and you need some extra financial help, you need to find a lender that works for your unique situation. There are lots of lenders in the Kansas City area that you can turn to. If you didn’t know it already, a title loan lender like Midwest Title Loans is a great choice for getting a loan that is only for a short-term.

Short-term loans are a great option for anyone in a tough financial situation, and they are really the ideal choice. There are so many benefits to choosing a short-term loan, like a title loan at Midwest Title Loans in Kansas City, over other loan types. Here are five of our top benefits.

5 Benefits of Choosing a Short-Term Loan for Your Financial Needs

It covers you for a short gap in your finances.

Many times, our customers come to us in the midst of a financial crisis, like a sudden job loss, and they need temporary help getting back on their feet. A title loan is only a short-term loan, so it can help pay the bills, while you get a new job or find a new source of income. It’s not meant to be a long-term solution, like many loans and lines of credit tend to be looked at as. It’s just here to keep you afloat and de-stressed. It helps ease the pain of having late bills or unmet needs, so you don’t have to lose sleep at night, during a rough financial patch.

You don’t have to wait weeks to get your money and get approved.

So many times when applying for loans, you expect the process to take several days or even weeks to fully complete. From excessive document checks to credit and background checks, major banks and credit unions can take forever to get you approved. On top of that, it can take even longer to get the money you need.

Nobody has that kind of time, and you especially don’t, when bills are overdue. You need the extra financing now, and that’s what a short-term loan like a title loan can help with immediately.

We don’t require a lot of documents or a credit check.

Our process is simple and quick, because we don’t have a ton of required documents, like pay stubs, W-2s, housing verification, and beyond. These documents can take time to gather together to send, when applying for many traditional loans and lines of credit, and they take even longer to get reviewed. Plus, we don’t required any credit checks, which can even damage your credit negatively, if they are a hard credit pull.

Short-term loans like title loans at Midwest Title Loans in Kansas City only require a few things. The most important thing you’ll need to get for a title loan at Midwest Title Loans is a lien-free title, which is one that is free of any debt or liens. If your car is completely paid off, you have a lien-free title, and you can get a title loan with us. We also require that you are 18 or older and can show us a form of ID to prove that. In addition, we require car insurance verification and that your car that your lien-free title is for is driveable. Lastly, you’ll need to complete an online application with us.

You’ll pay less interest.

When you have a loan out for a long period of time, like traditional loans or lines of credit, it’s easy to rack up a lot of interest, without even realizing it. Since short-term loans are only for a short-term, you don’t have to pay as much interest. This saves you money in the long-term and is easier to pay back.

It’s easier to pay back.

Since short-term loans are typically in smaller amounts than a traditional loan or line of credit, it is easier to pay back. From the beginning, the expectations are set that you’ll have 60 days to pay back your title loan and get your title back. We do have an option to renew the loan for additional time and interest paid, but most of our customers are still able pay the loan back quickly.

When we offer you your title loan, we take into account your repayment ability and your car’s worth, and we want to make sure it’s easy for you to pay back. That’s why we ask for a lot of information about your current job and housing on your application, without the need for any additional documents for verification.

Get Started on Your Short-Term Loan Application at Midwest Title Loans Location Now

It’s easy to see why a short-term title loan at Midwest Title Loans is the perfect option to help you get back on your feet. You don’t need to wait around to get approved and get the money you need. Start your application now by filling out our Online Info Sheet, and we’ll get you the money you need as quick as possible.

Whether you live in Gladstone, Kansas City, St. Joseph, or Overland Park, our Midwest Title Loans locations are ready to help you with your financial needs. If you have any questions or want to talk to one of our friendly professionals, contact your nearest Kansas City Midwest Title Loans location by phone, through our website, or by stopping by. We look forward to meeting with you!

Proudly Providing Short-Term Title Loans to the Kansas City Metro Area

Midwest Title Loans proudly provides short-term loans to the Kansas City metro area, to customers in the cities of St. Joseph, Gladstone, North Kansas City, Kansas City, Grandview, Belton, Lee’s Summit, Raytown, Independence, Overland Park, Olathe, Lenexa, Shawnee, and the surrounding areas.

 

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OUR LOCATIONS

330 W. 85th Street
Kansas City, MO 64114
Phone: (816) 363-8600

6420 North Oak Trfwy
Gladstone, MO 64118
Phone: (816) 436-7711

603 S. Belt Hwy
St. Joseph, MO 64507
Phone: (816) 232-9100

8212 Metcalf Ave.
Overland Park, KS 66204
Phone: (913) 381-2222

2500 State Ave.
Kansas City, KS 66102
Phone: (913) 281-9997