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The Difference Between Flex Loans and Title Loans

The Difference Between Flex Loans and Title Loans

Car title loans are now some of the most popular short term loans in Kansas City. From our locations in Gladstone, Overland Park, St. Joseph, and Kansas City, Midwest Title Loans has been helping Kansas and Missouri citizens get through tough financial straits with our short-term auto title loans.

Why are people increasingly turning to auto title loans in Kansas? Because banks and credit unions are increasingly turning them away. We have had two major recessions in the past few decades, and it’s left a wide gulf between the haves and the have-nots. Most ordinary people have been left struggling and their credit rating has taken a dent as a result. The banks, eager to keep more profits safe, have begun refusing more and more people credit.

If you can’t get credit, problems can spiral out of control. If you’ve nowhere to turn to, you can go overdue on bill repayments or go into costly overdraft. Most Americans are just a paycheck or two away from disaster. If an appliance breaks down, your roof starts leaking, or your car has a mechanical issue, without a short-term loan option things can quickly get worse and you’ll find yourself in more and more debt.

A few short-term options do exist, though not all of them are open to everyone. Some of the better-known options are personal loans and payday loans. Perhaps less well understood are car title loans, which offer a number of benefits over payday loans if you own a vehicle with no liens on it. You can use your vehicle as collateral for a loan to borrow more and get better interest rates. There are even flex loans available that you can use as a rolling credit line.

Why Consider a Car Title Loan in Kansas City?

Flex Loans and Title Loans

Arguably, the top benefit of a car title loan is how quickly you can get one. Banks can take an age to qualify you for a loan and even longer to get that money into your pocket. Getting a loan from a bank is made even more challenging and frustrating if you don’t have a good credit history and your employment history is spotty.

Auto title loans, on the other hand, can be completed within a matter of minutes.

The second huge benefit of a car title loan is how easy it is to qualify. If you have a car, SUV, or truck then by and large you can get a car title loan. The amount that you are able to borrow depends on the market value of your vehicle.

Compared to cash advances, the interest rate of a car title loan is often lower. This is because with a car title loan the provider has a layer of protection in the form of your car's title. If in the unlikely event you fail to make all of your repayments then the ownership of the vehicle will be turned over to the loan provider.

Even More Convenience with a Flex Loan

Respected Kansas car title loan providers like Midwest Title Loans offer you even more convenience than a car title loan with their flex loan system. The flex loan works in a similar manner to a car title loan but at the end of the month, the loan is left in an open status. You can choose to pay off the loan in full and take back the title of your vehicle, roll over some of the amount till next month, or keep the line of credit open just in case you might want to use it in the future.

On any day that you don’t use your line of credit, you are charged absolutely nothing — no interest at all. You only pay interest on the exact amounts you borrow on a daily basis. If you pay back the borrowed amount quickly, you will have much lower interest to pay than a traditional term loan.

Many Missouri and Kansas people use these flex loans as an emergency fund they can dip into if they ever need to without having to go through the long process they would have to were they to go to a bank.

In this regard, flex loans quite closely mirror a credit card. You are able to dip in and out of your credit line when you need to and you only pay interest on a per-daily basis. Unlike an installment loan from a bank, there’s no penalty for repaying your loan early. On the contrary, you are rewarded for early repayment with lower interest fees.

Banks typically don’t offer flexible loans that you can dip in and out of. They prefer installment loans where you have a fixed number of repayments to make over a number of years and you’re locked into paying interest on your debt for all those years. Flex loans are fantastic for those short-term purchases that don’t lock you into repaying interest for years on end.

Midwest Title Loans in Kansas City

Whether you would like an auto title loan or a flex loan backed by the collateral in your car, Midwest Title Loans in Kansas City is here to help. You can fill in your details online to speed up the process even more, and we have four locations you can drop into for more information. You’ll find us in Gladstone at 2500 State Avenue, or at our Overland Park location, 330 West 85th Street.

For a flex loan, all you need is a driveable vehicle available for us to evaluate, valid photo ID, and verification of income. You need to be 18 years of age or older. The vehicle must also be in your name and not have any liens on it. In other words, you can’t already be using the vehicle as collateral for another car title loan and any financing on the vehicle must have already been paid off.

Get in touch with Midwest Title Loans today to find out more about your options for a car title loan or flex loan in Kansas.

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Need Help Fixing Your House for The Winter? Consider a Title Loan

Need Help Fixing Your House for The Winter? Consider a Title Loan

With the winter months quickly approaching, people in Kansas and Missouri often look to complete home repairs that will help keep their home warmer and more energy efficient during winter’s cold embrace.

A car title loan is an affordable way to pay for four common home repairs that will make the Overland Park, St. Joseph, and Kansas City winter months more bearable.

Possible Home Repairs for Approaching Winter Months

title loan

1 - Checking the Home’s Heating System

You should always check and make sure your heating system is still working properly. This normally consists of hiring a licensed service technician to come out and inspect, perform routine maintenance, or repair the home’s furnace, heat pump, or central heat and air.

Older Kansas homes that don’t have modern heating elements and still use the classic wood-burning stoves to provide heat throughout the home will require the chimney to be cleaned out before use.

2 - Replacing or Resealing the Home’s Windows

A second common home repair performed to older homes is to replace or reseal the windows of the house. Replacing the windows may be one of the most cost-effective home improvements you can make if your windows are old or not insulated.

Well-insulated windows can keep extreme outdoor conditions from affecting the indoor heating and cooling system of the home. Older windows with a single pane contribute a large part to heat loss in your home. Double- or triple-glazed windows contain gas that acts as a buffer, stopping heat from escaping. Some windows even have a thin coating directly applied to the glass. The coating ends up reflecting many solar waves and keeps the home much more comfortable during all seasons, not just the winter.

That extra layer of protection from new windows can offer UV protection for walls, fabrics, flooring, and furniture, which lengthens the life and quality of your home’s interior. New windows can also raise the value of your house. There are also several potential government tax breaks that can help you reduce the cost of replacing old inefficient windows with newer high-efficiency windows.

Sometimes gaps and spaces around older windows begin to form over time. Air can both enter and leave the house through these small gaps and spaces greatly reducing the home’s heat efficiency.

If the price of new efficient windows is unappealing, then another alternate solution is to reseal and caulk around existing windows. This cost-effective alternative to replacing old windows will help keep cold air from entering the home and keep warm air inside.

3 - Inspecting the Roof of the Home for Leaks.

Another common repair needed to be done before the winter months involves the home’s roof. Over time, a home’s roof can form small leaks. Roof leaks can cause major damage to a home and be difficult to repair. Rain or snow can get into any small crack or hole and slowly rot out the wood underneath. Water damage can cause black mold to form, electric fires, to start, or the frame of a house to deteriorate.

All of these bad things can be invisible to the naked eye. Having a professional inspect the roof before the winter months can potentially save you a major amount of money in the long term. If damage to the roof is discovered, then repairs can be made before water damage is done.

One common fatal assumption that you make is to think that since there were no leaks found during rainy days then no leaks will occur during snowy weather. Whereas rain normally hits a roof and rolls off the roof into gutters, snow may lie upon the room and stay for days at a time. Since snow can slowly melt off a roof, it has longer to find those small cracks and holes in the roof and seep down under the roof causing major damage. It is always better to get a professional opinion that can help you solve potential roof problems before they become major ones.

4 - Cleaning out the Gutters

Before every winter, the fall season must arrive. Every year as fall comes, the changing weather causes the leaves to fall off the trees. Those leaves often fall onto the roof of homes and eventually make their way into the home’s gutters.

Once in the gutters, those leaves create a blockage not allowing rain or snow to fall freely off the roof. This can cause water to sit on the roof causing damage to the roof or to overflow and spill over the gutters damaging what beneath them. Blocked gutters can also add extra weight to the gutters causing them to fall off and damage the home in the process.

How Can you Pay for Winter Repairs?

Getting a home prepared for the upcoming winter months can be an expensive endeavor. Having a professional come and inspect the home’s heating system, roof, and windows will normally cost money. If repairs are needed, then that will cost even more money.

Most people do not have that much cash on hand to pay for those needed repairs. Many do not realize that they already have an affordable option to help finance those much-needed winter repairs. Most people own at least one vehicle. Getting a title loan can quickly give you the necessary money to make the repairs that are needed. It is an easy process that can be done in a single day.

What Is a Car Title Loan?

A car title loan is a small loan for a short amount of time, usually thirty days. Car title loans in Kansas and Missouri use the title of your vehicle as collateral to a loan. If you cannot repay the money he or she owes, the lender can take your vehicle as repayment.

In order to receive the loan, you will need to have enough equity in your vehicle to fund the loan amount requested. The amount you can borrow is based on the equity and the value of the vehicle. Most lenders offer loans between twenty and fifty percent of the vehicle’s value. As the vehicle owner, you will give the title of the vehicle to the lender along with a fee. It’s an option for quick approval on a short-term loan that allows you to acquire a loan on the same day that you apply.

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How A Car Title Loan Can Help During the Holidays

How A Car Title Loan Can Help During the Holidays

The holidays are magical! They are full of family, friends, food, presents across the board, and holiday shopping. But it all comes at an expense, and if you don’t have the cash on hand during the festive season, you can leave your family a bit disappointed.

Christmas, especially, is more expensive than any other holiday. The cost of Christmas has continued to grow year-over-year. There are always presents to buy, trips to make, decorations to buy, food to buy and prepare, and so on. There seems to be an endless list of purchases that are enough to make anyone wonder how these expenses will possibly be covered.

Winter is also the season when appliances decide to die and roofs begin to leak. It’s possible to try and hold off on these problems in advance by doing some preventative maintenance, but that again costs money. If you’re not able to do it in advance, an emergency can be even more costly and require cash immediately.

When money is tight, it really is hard to figure out where to find even more money to cover the cost of things. But it doesn't have to be that hard. The trick is to spread out the cost for these expensive months over the months you can spend less through the use of credit.

Using Credit for the Holidays

car title loan

Getting credit or using a loan for your holiday adventures can see you through the festive season until you’re through to spring, which typically doesn’t take such a big toll on one’s wallet. Without using credit, you could find yourself paying much more in terms of bank charges, late fees, and overdraft fees.

One of the best things about loans is that they are relatively easy to get if your credit rating is good. You go in, fill out paperwork, your credit gets checked, and you walk out, sometimes with the money within a few days. Sometimes we need cash a bit faster, though.

For many people in Kansas City, St. Joseph, Overland Park, and Gladstone, credit is a bit of an issue. If your credit score isn't good enough then the money isn't going to flow from a Kansas or Missouri bank. What can be done?

A Car Title Loan Doesn’t Require a Credit Check

The best option, in this case, is a title loan. Car title loans are simple and easy to acquire if you own your car outright.

With a car title loan, you take in the title of your vehicle that you own outright, and you use it as collateral to get a loan. The amount you can be loaned depends entirely on the business and the value of your vehicle. Don't expect to get $5,000 for a car that books at only $500 though. The lender will look at the value of your vehicle and take that into consideration, offering you a percentage of the full value of the value as a loan. This is usually up to around 60% of the value of the vehicle on the market but also depends on individual circumstances.

Because you are offering your car as collateral, the provider can feel confident that the value of your loan will be covered should you not be able to repay the loan for any reason. This means that no credit check is required, and it doesn’t matter if you have poor credit or no credit history at all.

Because there is less risk to the provider, they can feasibly offer a better interest rate than if you weren’t using a title as collateral. Check with the provider how much interest you’ll be paying and compare it to other options such as payday loans, short term loans, or personal loans to confirm this for yourself.

After filling out the paperwork, the title is then given to the loan company to hold while you pay back the loan. You will be on a set timeframe - think 60 days or less - in which you have to repay the balance borrowed. If you fail to do that then the company could take your vehicle from you in a court of law. If you pay it back on time, they simply release the title back to you. It's that simple.

Meanwhile, you have the money necessary to buy the extra gifts, food, or even pay a huge electric bill from those amazing lights you had to put up to outshine your neighbors!

Quick Cash in Kansas City

Midwest Title Loans is a trusted car title loan provider serving Kansas City. Having lent cash to thousands of drivers from Kansas and Missouri over the years, we’ve gotten it down to a fine art. Having filled out the online form, it’ll take you only around 20 minutes to get cash in hand.

We often suggest to customers that for upcoming holiday expenses they choose a flex loan. This type of loan allows you to keep a credit line open against your car’s title. You only pay for the days you use the credit! It’s like a flexible line of credit that you can rely on for emergency expenses and you can pay it back as soon as you’ve got extra money again.

We believe that flex loans are the future of small credit lending as they are super convenient and you don’t end up paying interest for days you don’t use the loan. It’s up to you if you want to leave your account in an open status when the initial loan is paid off in full – it might just come in handy! There’s no extra charge for this service, so consider it your emergency fund for when you might need it.

If you find yourself in a crunch for money, consider a car title loan in Kansas City as an option. They’re simple and quick so can save you time and money.

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Understanding Short-Term Loans like Car Title Loans

Understanding Short-Term Loans like Car Title Loans

The loan industry has opened up over the past decade, with prominent, recognized, trustworthy lenders offering new ways to get financing for small purchases. Whether you’re looking to install a new kitchen, get a set of new clothes, or purchase a new computer, there is a wealth of ways you can go about borrowing money that didn’t exist 10 years ago.

Short-term loans are typically the easiest type of loan to get; particularly if you have a less-than-stellar credit rating that means going to a bank is not an option. The Great Recession shook most middle-income families in Kansas and Missouri, and most people are still trying to recover their credit rating to pre-recession days. Instead of offering easier access to short-term loans to people who need it, Midwest banks were more likely to close their doors and only offer loans to the elite.

Thankfully, new businesses stepped in to offer lending solutions to the people who direly needed it. Short-term personal loans and car title loans are now hugely popular as a means to loan a relatively small amount of cash and repay it quickly.

Why Do Banks Not Offer Short Term Loans?

Short-Term Loans

Few banks offer short-term loans. Instead, they specifically require you to take out a minimum sum and repay the loan over a long period of time, typically 3-10 years.

There are a few reasons for this. For one, they use an antiquated system of credit checks and credit ratings to work out whether a person is a risk to loan to. This takes time and money and involves third-party companies who take a cut. It’s easier for the bank if they just loan larger amounts to low-risk individuals so that they can keep operating costs down.

Banks prefer to only deal with larger loans instead of going through all of the hassles of loaning a small sum for a small amount of profit. Only offering loans over a longer period of time means the interest rate can remain low, which looks good on paper. But, over the course of a longer loan, the customer ends up paying more interest, as interest in cumulative.

Finally, short-term loans are often considered a bigger risk for lenders. These types of loans are not normally used for purchases like cars or homes (where the lender could feasibly repossess the item if the customer defaulted on the loan). Customers seeking a short-term loan may be struggling to raise funds from other means, which represents a bigger risk for the lender.

Getting the Best Interest Rates

On the face of it, a personal loan available from financial institutions in cities like Kansas City, MO, Overland Park, KS, and Gladstone, MO is similar to a title loan, but as we shall see, car title loans have some additional benefits.

You get cash to be used for any purpose with the promise that you’ll repay the loan over a set number of months. The lender will gain a percentage on top of the repaid amount, known as the interest.

The longer the repayment period and the bigger the loan, the more interest will accumulate. Therefore, it’s best to find a loan with a low interest rate and pay it back as quickly as possible. For some small purchases, a single-installment 30-day loan is the simplest answer.

Lenders will offer better interest rates for larger loans and where there is less risk that the loan agreement will go sour and they’ll lose the money they’ve lent. One way for the bank to reduce risk is only to lend to people that they perceive to be low risk, such as people with a good credit score and high income.


Another way to more easily secure a loan and lower interest rates is to choose a type of loan that has collateral. This is also known as a secured loan (as opposed to an unsecured loan).

For example, a mortgage on a house in St. Joseph, MO or Kansas City, KS will usually have a lower interest rate than an unsecured personal loan offered to someone in these cities. This is because the loan is secured on the property; if the customer fails to make payments then the lender can repossess the house and sell it, recouping most of their losses.

A personal loan is usually unsecured, meaning that if the customer fails to make repayments on the loan then the lender has fewer ways to reclaim their money. Yes, they can sue the loan customer to get the money they are owed, but it’s a laborious process that costs time and money.

This is the main reason that personal loans without collateral have higher interest rates. The lender is adding on a percentage that’s designed to cover the costs of chasing down the small number of people who ultimately fail to repay their loan.

Personal Loans vs. Car Title Loans

It’s here where we can see why car title loans usually beat short-term loans. Car title loans use your car as collateral, making them a secured loan. The lender can be much more confident about lending you money because the loan is secured on the car. In the unlikely event that you’re unable to repay the loan, the lender can reclaim the car so they don’t lose out on the money they lent you. At the same time, you’re free to keep and use your car as usual.

A car title loan is therefore much easier to get than a short-term personal loan. You should be able to loan a larger sum (up to $4,000 in some cases) and at a lower interest rate than with a personal loan.

As your car is used as collateral, your financial past is much less likely to be a roadblock to getting a car title loan. You can apply for a car title loan online, or come to a Kansas City, Gladstone, Overland Park, or St Joseph short-term loan provider.

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Pay‌ ‌for‌ ‌Fall‌ ‌House‌ ‌Projects‌ ‌with‌ ‌a‌ ‌Title‌ ‌ Loan‌

Pay for Fall House Projects with a Title Loan

Fall is around the corner, and it’s a popular time for making home improvements that your home sorely needs. It’s good to get the home winterized for the upcoming cold season, and fall is the best time to get out and do it while the leaves are turning brown and the apples are ripe for picking.

Performing upkeep on your home doesn’t just make you feel better; it raises the value of your home. If you do it properly and don’t scrimp on materials than every fall house project will return much more in home value than the amount you spend on it.

Fall House Projects Perfect for the Kansas and Missouri Autumn

car title loan

Painting Your Front Door and Home Exterior

Start with the easiest fall home project that also feels like it reaps the biggest rewards – repainting your front door. A fresh lick of paint on your front door will make your house pop and stand out from tired homes on your block.

Fall is the best season to paint your door as the temperatures at night allow the paint to adhere to the wood without freezing or cracking.

If your home has a neutral color scheme and is in good repair, you may only need a touch up of exterior paint. Otherwise, a complete paint job may be a better option. A 1500-square-foot house costs around $2,000 to repaint, but you’ll be able to resell your house for around 10% higher on average. Clearly, it’s well worth the investment.

Roofing Maintenance

A sound roof keeps your home from developing expensive leaks. Replacing the roof completely may be required if your roof is past its best. Prospective buyers of your home will use any small issues with your roof or ceiling to try to negotiate a much lower price, so it always pays to ensure the roof is watertight, clean, and looks great.

Cleaning the gutters once a year is an inexpensive chore that could prevent thousands of dollars of damage. Clogged gutters aren’t just unsightly; they can cause the destructive force of water to be forced down the side of the house and to the basement, walls, and foundations. They stop your soil from becoming eroded and your fascia from staining.

Window Replacements

Replacing your windows is an expensive endeavor and windows don’t typically make a big difference to the value of your home, so only consider replacing them if they’re old, damaged, or ugly. Consider more energy-efficient windows that keep the temperature in your home exactly where you want it.


If your central air system is old, you’re probably throwing money away on electricity keeping it running. Newer HVAC systems can heat or cool the home at a fraction of the energy costs.

Financing Your Fall House Projects

Finding funding for these projects can be a challenge. It makes financial sense to borrow money now for your fall house projects to prevent big problems from occurring in the future that will cost you much more. However, banks are usually only interested in funding huge projects for customers who already own their homes. For everyone else, there are car title loans.

Car Title Loans

Car title loans are one of the best financial products available on the market today. Most traditional loans available at a Kansas City, Gladstone, or St. Joseph bank are slow to avail and are only open to people with the absolute best credit rating. Have you been turned down for a loan by a bank in Overland Park or Olathe? You’re not the only one – banks have tightened their belt since the recession and it’s increasingly tough to get a loan even if you have a stable job and a good income.

Why are car title loans a good option? As you are securing your loan against the car, the lender is taking on less risk. In the case that you don’t repay your loan, they have the right to claim the car. Of course, this rarely happens. But it means that car title loan online providers and local title loan lenders can offer loans to people without worrying about credit ratings or past financial problems. All you need is a clean title on your vehicle and a verifiable form of income.

With a car title loan, you’ll be able to borrow a large enough amount to get the fall maintenance and repair projects completed without negatively affecting your household cash flow. Payday loans or other short-term loans without collateral are unlikely to be enough to cover the cost of getting the job done right.

Flexible Title Loans

Midwest Title Loans makes unexpected repairs even easier to deal with thanks to our flexible title loan system. A flex loan gives you a rolling credit line that you can call upon any time you need it. You don’t pay anything if you’re not using it, and your interest is calculated on a daily basis.

Consider an example. Your boiler packs in unexpectedly, and you’re two weeks away from getting paid. Thankfully, you have a $4,000 credit line flex title loan from Midwest Title Loans. You can borrow the amount you need for a replacement boiler and get it installed right away. You’ll get the cash immediately, and there’s absolutely no need to make an application for the loan as you’ve already secured a credit line with us. As soon as you’ve been paid, you decide to repay the loan. You’ve only paid a small amount of interest for the two weeks you used credit, and your life has been made so much simpler.

Without a flex loan credit line, you’d probably have had to wait two weeks until you were paid. Sometimes emergencies can’t wait two weeks. Can you see how valuable a flex loan can be?

Pay for all of your fall house projects with a flexible car title loan from Midwest Title Loans.

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Are Flex Loans Good For Quick Cash in Kansas City?

Are Flex Loans Good For Quick Cash in Kansas City?

Flex loans are a great option for quick cash in Kansas cities like Overland Park and Kansas City and Missouri cities like Gladstone and St. Joseph. As we shall see, a flex loan is one of the simplest and most convenient forms of financing available today.

Whether you’re looking at flex loans online for a new purchase, for the consolidation of debt, or simply to pay bills to avoid fees, you’re not alone. Kansas and Missouri residents are increasingly turning to flexible car title loans as a means to simplify their finances.

Understanding Flex Loans

Flex Loans

A flex loan is similar to a credit line that you always rely on. Once you’ve applied for a flex loan, we let you know how much your credit limit is, and you’re free to borrow up to that amount. There’s no limit to what you spend the cash on.

In many ways, your flex loan works like a credit card. Interest is calculated daily, so if you repay a portion of the loan then you’ll pay less interest every day in the future. This can make a flex loan much cheaper to avail in the long run compared to credit cards or personal loans.

Flex Loans Put You in Charge

One of the best things about a flex loan is that you’re able to make repayments that suit you. If you’ve just been paid a bonus or made a bigger profit than expected this month, you can pay down a portion of the loan and your interest repayments will reduce dramatically.

You can pay the entire loan off when you choose, so you’ll pay much less interest than if you had taken out a bog-standard traditional loan with a set period to repay and a set monthly amount. Banks only offer you these terms for a reason – they make more money from you if you take out a bigger loan than you need and you pay it back slowly.

Similarly, when things are tight you can choose to make the minimum repayment or indeed borrow more until you’re in a better position to repay the loan. It’s better to wait to repay your flex loan with its relatively low interest rate than default on other repayments you might have and to be forced to pay hefty fees.

Flexible Car Title Loans

Traditional banking institutions have been slow to innovate, typically only offering standard loan options to people with a great credit rating. Modern, versatile, flexible lending solutions like flex loans are far from ubiquitous, and to date, very few banks offer a rolling credit line to the average consumer.

Small flex loans are available without security at some lenders, but for the best deals and a bigger credit line, the loan should be secured against a property or vehicle.

Most people looking for a flex loan tie their loan to their car. This means the title of the car will have a lien on it while you have the credit line with the company.

A lien on your vehicle’s title essentially says that the car will be turned over to the lending organization if you consistently fail to make the repayments on the loan as specified. Lending companies never want this to happen, as it’s a lot of extra work for them to sell on a vehicle that has been repossessed, so every attempt will always be made to help you keep up the minimum repayments on your flexible car title loan.

Once you’re repaid the credit in full, the lending organization will remove the lien from the vehicle and you’re back to where you began at no extra charge. Many people, though, prefer to keep the credit line open on their vehicle so they can choose to borrow again on it in the future if they so please.

Car Title Loans Are Easy to Get

Forget messing about with credit ratings and long waits at the bank only to be refused a loan. Car title loans are easy for all involved. Typically, all you need is to be over 18 years of age, own the title of your car, have no existing lien on the vehicle, have proof of income, and a photo ID.

The Perfect Emergency Fund

Many Kansas City, Overland Park, St. Joseph, and Gladstone car title loan customers like to use their flex loan as an emergency fund. It’s like a credit line you can rely on when you need it that doesn’t charge you when you don’t use it. You’re also likely to get a larger credit limit with a car title flex loan than you do on your credit cards, as the loan is secured on your collateral – your car.

When you’re not using your flex loan’s credit line, it costs you nothing.

When considering whether flex loans are good for quick cash in Kansas City the answer has to be a resounding yes – once you’ve set up your open-ended credit line with the provider you’re able to instantly get cash when you need it. Even if you don’t need quick cash right now, there may come a time in the future that you sorely need it, so a flex loan is a great companion to have ‘just in case’.

Flex Loans Are the Future

The old ways of banking are being phased out and replaced by better lending options like flexible credit lines and versatile car title loans. Banks are constantly turning people away for loans that they’re well within their means to repay because the banks have failed to adapt their antiquated credit rating model.

Instead, choose a flex loan that you’re in charge of. Repay the loan quickly when you’ve got extra money to spare or extend your credit when you’ve got an emergency expense. All the while, you only pay daily interest on what you’ve borrowed, so you’re never paying too much. You keep your car and can use it daily as usual, and when you decide to sell it, you simply pay off any outstanding balance on your flex loan.

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What are Flex Loans and How Hard Are They To Get?

What are Flex Loans and How Hard Are They To Get?

Flex loans are one of the lesser used loan options in the United States, yet they have the potential to be one of the most effective lending options available to Americans. Lending is integral to the American Dream, allowing people to borrow money to get a home or undertake an educational goal. Recent lending statistics evidence the necessity of borrowing. Last year, nearly 35% of Americans took out a personal loan to get the money that they needed for things like a new car, debt consolidation, and school tuition. People between the ages of 40 and 54 were the biggest group to take out loans, followed closely by those between the ages of 55 and 75. As suggested by these age groups, it’s clear that younger folks taking out loans for school are not the average statistical lending group. So, why do we only see student loan advertisements and not advertisements for smaller loans like flex loans?

Part of the mystery behind flex loans is that they often are not advertised as well as traditional loan types. Banks and other credit agencies hold a monopoly on loan specialization and a majority of people in need of a loan flock to these businesses for loan help. Additionally, flex loans and lending options offered by title loan agencies are very frequently referred to as poor lending options. But a flex loan, or an open-ended credit line that is most often tied to your car’s title, is an excellent option for those who need quick cash and might not want to wait for a traditional loan.

Confused about what a flex loan is but you’re pretty sure you don’t want to get financial aid from the likes of a traditional loan? Read on to learn more about how flex loans might be able to help you.

What is a Flex Loan?

flex loan

At face value, flex loans operate a lot like a title loan. Customers go into an establishment that offers flex loans and fill out an application, or they fill out a form beforehand and submit it online. That application helps loan providers determine how much they can lend to you, and also helps them establish lending limits. You bring your car in to have it evaluated for how much you can borrow against its worth, and then you hand the title over to the lender. You get your title back when your title loan is paid off. When you pay off a title loan, that is the end of the loan’s period, and you must fill out another application if you seek to take out more money against your car.

Think of a flex loan like a credit card, as it is considered a line of credit. You go through the same application process as a title loan, but you aren’t handed a check for the worth of your car. Instead, you are offered an open line of credit which can be repaid or borrowed against as needed. That way, you don’t need to reapply every time you need the money, and you still get the financial help you need.

How Can a Flex Loan Help Me?

For those with past credit issues, getting a traditional loan can be excruciating. Often, it requires using time you don’t have to go into a banking branch and speak with a loan officer about your borrowing capabilities. Then, there’s no guarantee that you will get the amount you asked for or get a loan with a reasonable interest rate. Flex loans are perfect options for those with credit issues because they do not require a credit check - we merely determine the amount that we are willing to lend to you by how much your car is worth, which is your credit lending limit.

Interest rates are a huge issue for those who have credit issues, and exorbitant interest rates are commonplace for people with bad credit. With a flex loan with Midwest Title Loans, you are only charged daily interest for the amount you have taken out on a particular day. So, if you have a balance of $800 and pay off $200 one day, you will only be charged for the $600 you own.

Finally, it is easier for those with past credit issues to get a flex loan, and it allows you to improve your credit score while you pay off your balance. All on-time payments are reported to credit bureaus. So, as well as increasing the lending limit on your credit history, it also improves your number of on-time payments.

How Hard is it To Get a Flex Loan?

Getting a flex loan is a quick and easy process, taking as little as hours to get you the money that you need. Additionally, flex loans are available for all types of lenders, regardless of their credit history.

To get a flex loan, you need to be eighteen years of age, own a car with a lien-free title, have a job where you make a minimum of $1200 a month after taxes, and have verification of that income. If you meet these basic requirements, you’ll be able to take out as much as you need up to your credit limit whenever you need it. Unlike traditional loans, there’s no disbursement period or waiting period for you to be approved. Flex loans are streamlined and designed with the average working person in mind.

Midwest Title Loans has been in business since 1997 and has helped thousands of customers since then get the financial help that they need promptly. With a focus on customer satisfaction, we understand how to best serve our clients based on their lifestyle and monetary needs. With locations in Gladstone, St. Joseph, and Kansas City, Missouri as well as locations in Overland Park and Kansas City, Kansas, we’re committed to serving the midwest in a tangible and meaningful way. To get started with a flex loan through Midwest Title Loans, click here and fill out our easy-to-navigate loan application. After submitting your application, a loan specialist will contact you within 48 business hours to discuss our lending terms.

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Best Short-Term Loan Options in Kansas City

Best Short-Term Loan Options in Kansas City

Accidents happen. When they do, it’s easy to get discouraged and act like there’s no way to remedy them. But even for significant issues, like accidents that will take large payments to fix, there are fixes. Short-term loans are a way that you can make any accident that might arise in your life okay. Midwest Title Loans wants to help Kansas City residents understand the process behind applying for a short term loan, as well as clearing up any questions potential borrowers might have about the best short-term loan options.

What is a Short Term Loan?

short-term loan options

A short term loan is any loan whose lifespan is supposed to be less than one year. This might be something that you set up with your parents or best friend, or it could be something a little more official - like a borrower’s set up from a well-trusted agency. Either way, there are advantages to short-term loans that don’t exist from other investments. Such benefits include:

  • There is no long-term impact from interest. While you might feel as though you have your student loans under wrap, chances are they are taking advantage of you without you noticing it. Loans that have a 30-year repayment plan are designed to make the most money off of you as possible. So, without planning it, a loan that you initially took out in 2008 for $4,000 could add up to well over $6,000 by the time that you get your master’s degree - assuming you make no payments on it during that time. Although you will still have interest when you take out a short term loan, it will only gather during the period you pay it off, which is to say less than a year.
  • Short-term loans are not supposed to be taken out for too much money. Lenders will let you know how much you are allowed to borrow for your short term loan period, and most will not exceed $1,500 maximum. The reason is that they want to ensure that you will be able to pay back your loan comfortably. They will not lead you down a lending path that could lead you to further financial ruin. If choosing to borrow from someone who is not an authorized lender, be sure to take out only small loans from them.
  • The median cost for a short-term loan is $113. Whereas conventional loans can leave you out thousands of dollars in interest, most are barely out $100 including interest and fees.
  • Short-term loans are usually available regardless of your credit. Many struggle to take out conventional loans due to their credit and worry that they will also not be able to take out a short-term loan. Fortunately, most short-term loan providers use other factors to determine whether to approve you for a loan.
  • Short-term loan disbursement is quicker than your average loan disbursement. Even if your credit is okay, it can be a hassle waiting for conventional loans to disburse. If you need money fast, getting a short-term loan from a company like Midwest Title Loans is a great idea. Midwest Title Loans has a short application process which allows you to receive the funds for your loan the same day.

There are many different ways to get a short-term loan, and they don’t all involve working with a title loan company or payday loan company. However, because title loan companies are qualified at what they are doing, we highly recommend working with an authorized company like Midwest Title Loans.

Ask a Friend For a Temporary Loan

Missouri people are good, hardworking folks who like to lend a helping hand. Chances are you have a friend who is like this. Friends and family are fine to turn to for temporary loans if you need a small amount quickly. A good thing to do is to make sure that you have a contract set up between you and whomever you plan to take a loan out through. Even if you think you know them well, write down the terms of your borrowing. How much money is the person lending you? When do they expect to have it back by? Do they want it back in payments, or do they want it back in full? Recording these terms and having both parties sign off on them will save potential friendships down the line.

Take out a Line of Credit Through a Bank

Another option for Kansas City residents looking for a short-term loan is to seek a line of credit through a bank. Lines of credit are like credit cards in that they are meant to be a way to make small purchases using money that you don’t have but do intend to pay back. Many banks have lines of credit available to qualified customers that they are expected to pay back in a reasonable amount of time. However, this is not the best option for a short-term loan for all people. It requires a credit check, and anyone found with less than excellent credit may be either denied a line of credit or given a line of credit with a massive interest rate.

Get a Short-term Loan Through Midwest Title Loans

There’s no comparison to a short-term loan from Midwest Title Loans - this is without a doubt the best option for those looking for quick cash fast. A short-term loan will not leave you out as much money as a conventional loan, it won’t ask you to give away any sensitive information like what might be found in a credit check, and it only takes a little less than an hour to get set up with the cash you need.

To get set up with a short-term loan through Midwest Title Loans, contact us today. We only require that you bring in your license or another form of ID, a drivable vehicle, your vehicle’s lien, and any information you might need to verify your income. Once we have this information and have verified your age, we will discuss your borrowing terms and disburse funds once you’ve agreed to them.

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4 Reasons to Get a Car Title Loan This Summer

4 Reasons to Get a Car Title Loan This Summer

Summer is here, and for many of us, that means long vacations ahead and some relaxing days outside and in the sun. But for many of us, the potential for a great and relaxing summer is marred by financial issues and debts. It’s essential as we continue to try and pay off our debts that we remember to take time for ourselves. Statistics are clear about the impact of stress on the body. Money is the second leading cause of stress on people in the United States, and 77% of United States citizens experience regular physiological issues related to stress. Long-term stress causes medical problems, which leads to medical bills and other avoidable expenses.

Therefore, think of vacationing as needed maintenance for your body. Science will back you on it. Recent studies show that people who work 55 hours a week or more are much more likely to suffer a heart attack or stroke than those who work between 35-40 hours per week. In the long run, the medical bills that are the cause of such traumatic life events will end up costing you more than the meager amounts of time that you took off work.

But we get it; it’s never easy to let go of your workload. You’ve got bills to pay, some of them large, and you need money to pay them. If you feel like you need a break from stress, or you are stressed because of an upcoming big bill, consider taking out a loan with Midwest Title Loans. You’ve probably got more than four reasons for needing a loan, but here are four big ones that we can think of.

Make the Most of Your Summer Vacation

car title loans

Maybe you’re one of those people who has the time and the resources to take a break from your work week, you just don’t have enough money to do something genuinely relaxing. If you’re one of these types of people, a title loan from Midwest Title Loans could help you. The average vacation costs $1,145 per person in the United States. The number might shock you, as it comes as a shock to anyone who doesn’t budget.

This price includes food, lodging, entrance fees, travel fees, and other things that the average person doesn’t consider when dreaming about their next vacation. This might seem like a hefty sum to fork over when it comes to your weekly or bi-weekly paycheck, but it’s not so bad when you pay it in increments. If you’ve forgotten to tuck some away each paycheck to put toward your next vacation, then you should visit Midwest Title Loans. Your car could likely help you pay for your vacation, even though you don’t have enough saved up.

Make Big Life Changes Before The End of The Year

Sometimes, things happen that are out of your control. They’re not always bad - perhaps you’ve become pregnant, have gotten engaged, or even just got a new job that requires you to move. Sometimes, the best things come with significant stressors. If you don’t plan for these big events, it’s hard to imagine that you’ll be able to carry through with them. This goes double for those whose deadline is coming up. It’s easy to save for something far away on the horizon, but it’s not so easy to save for something that is coming up soon.

Luckily, there are options. If you have a car with a lien-free title, an exciting new life event is the perfect time to consider taking out a title loan. You can get the cash you need fast to update the spare bedroom into a nursery, plan a surprise wedding, or move cross-country for that well-deserved raised. Payments are affordable and allow you to keep your car while you make them. The goal for those of us at Midwest Title Loans is to help people get back on their feet by making their loan payments as comfortable as possible.

Kickstart Your 401K or Other Savings Plan

Summer is a perfect time to start saving because if you’re not planning a big vacation or other events, you won’t have much to account for monetarily other than your regular bills. Many people forget this, but December is less than half a year away, and while some people can shop for holidays last-minute, it usually puts a financial strain on them.

You can kickstart your savings plan, from everything as big as a 401k to something as negligible as a Christmas present list, by spacing out your payments with a title loan. Sometimes, you need a gentle reminder to save up. Put the funds away in your savings account, don’t touch them until you need them, and make the small payments you should have been making toward your savings toward your title loan in its stead.

Keep Your Car Safe and Up to Date

Speaking of winter, it is (believe it or not) just around the corner. While you soak up the sun, don’t forget the harshness that winter played not only on your body and spirit but also on the tools you use to survive. Before the rush of winter comes, summer is the perfect time to get your car looked at. Inspections before winter will keep you updated on any significant repairs that you might need to keep your vehicle safe and will give you time to get them taken care of before roads become unsafe.

Unfortunately, not everyone can afford to make big fixes on their cars immediately, but did you know that you can use your car’s worth to keep you safe? Unlike personal loans from the bank, title loan agencies don’t ask you about what you intend to use those funds for. That way, if you take out a loan, fix what you need to fix on your car, and then have leftovers you can do whatever you want with those funds.

Whatever your reasons for needing a little extra cash this summer, Midwest Title Loans can help you. Start by filling out an online application today, and one of our representatives will be in touch with you to help you finish the process and get on with your perfect summer.

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The Best Short Term Loan Options in Kansas City

The Best Short Term Loan Options in Kansas City

Traditional loan borrowers get into their financial commitment with one idea in mind and are surprised to find that their borrowing experience is much different than they expected. A recent study put out by Citizen’s Financial Group showed that paying off the average loan, and especially the average student loan, takes a lot longer than many expect. Going into college, students take out an amount with the promise of paying it back in 10 years. The reality of this is, however, that most students take twenty-one years to pay off their student loans once they are done with college. This delays former students from making payments toward a retirement fund, significant investments like a house, and sometimes even essential things like health insurance and dental.

The weight is not just on students, though. Mortgages, bank loans, and other fixed-term loans usually take longer than expected to pay off, and ultimately are not the best lending options. For those who want a short-term loan in Kansas City, don’t look to banks or credit companies. Turn to your neighborhood title loan company -- Midwest Title Loans.

Why Borrow Through Midwest Title Loans?

title loan approved

There are many reasons to consider a title loan over a conventional loan, and even more if you are local to Missouri or Kansas. We get to know our customers and offer them options based on their situations. Our terms are simple to understand, and one of our biggest goals is to make our customers feel like they are in control of their financial situation.

Borrowing through Midwest Title Loan is the perfect option for those looking for cash to make a home repair, to fix their car, or even to go on vacation. Loans are relatively small, but not so little that you can’t do anything with the amount you are lent. Additionally, when you come to Midwest Title Loans and have your car assessed, you can walk out of our establishment in as little as twenty minutes with cash in hand. Traditional lending options take weeks to go through the lending process, which can result in delays in payments and even a last-minute denial. To get a title loan, all you need is to meet our requirements, and you’ll get the cash you need.

How Is the Repayment Term Shorter?

It’s often jarring to those borrowing through title loan companies to see that the repayment terms are shorter. There’s no need to be worried about this -- we offer you a loan at a rate you can afford, and we work with your financial obligations to ensure that you are never paying more than you can afford. You’ll notice that the repayment rates are a little higher than traditional lenders, but they will never be so high that you can’t pay them. Ultimately, this saves you money.

Have you ever wondered how banks and credit card companies make so much money on your loans? It is because of the length of the loan and the amount you pay on it each month. If you don’t pay attention to your monthly statement, take a peek at it next time. You’ll notice a section that tells you how much of your last payment went to interest and how much of your previous payment went to the initial amount you owed. In many cases, the amount you pay toward interest is much higher. This is banks and credit companies’ payoffs, and none of the interest you are paying toward ever contributed to what you initially took the loan out for. A shorter payment period with higher payment rates results in less money paid to us over time. We are looking out for your best interests at Midwest Title Loans, and we want your repayment schedule to be both comfortable and beneficial.

How Do I Know I Will Be Able to Pay Off The Loan?

Worried you won’t be able to pay off a loan with higher monthly premiums than a mainstream loan company? Don’t be. We work with you to figure out the best lending options for you, and our goals are both to help you get the money that you need and also make sure that you are making responsible borrowing decisions. We supervise the borrowing process and work with your income needs to make sure you are not taking out too much in comparison to your monthly net income.

What Are the Requirements?

There are not many requirements regarding lending through Midwest Title Loans. The most important one is that you have a lien-free car that we can offer you a loan amount against. This means a dealership or other party cannot own your vehicle -- it must be yours outright. You also must be 18 to get a title loan. In very few instances are people under the age of 18 allowed to own a car without a cosigner, and the vehicle needs to be in your name to take out a loan. Additionally, we do require proof of base income. You must make $1500 or more a month, which can be hard for those under 18.

Those interested in getting a loan through Midwest Title Loans who meet all those qualifications need only to bring their car, title, and license to one of our many locations. We’ll assess the worth of the vehicle and will let you know how much we will be able to offer you for it.

In need of a short-term loan for winter home repair? Or is your car in need of a big fix that you just don’t have the money for? Don’t lock yourself into a fixed-term loan from a conventional lending company that will leave you feeling stuck. Midwest Title Loans in Missouri and Kansas have the options you need to get a short term loan. Come into one of our Missouri locations in Kansas City, Gladstone, or Saint Joseph or one of our sites in Kansas at Overland Park or Kansas City. We’ll help you find the best short term loan option for your needs.

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

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

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

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