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Car Title Loans May Be a Benefit to Many Millennials

These days it seems like you can’t go very far online without tripping over an article or three about millennials, often dealing with their financial habits. But the fact of the matter is that millennials often don’t yet have access to some of the financial resources that previous generations may possess. Since many millennials have only recently graduated from high school or college, they are often still working to carve out careers for themselves, which means that they may not yet have established a solid credit record or much in the way of emergency funds. But millennials still have expenses to meet, and when they need quick cash, car title loans in Kansas City can often be a great resource that doesn’t require a credit check or a lengthy waiting period.

Car Title Loans May Be a Benefit to Many Millennials

Millennials are individuals who were born between 1982 and 2000, making them anywhere from 17 to 35 years old at the moment. As anyone who has ever been 17 to 35 years old can tell you, it can be an exciting and challenging time of your life. Often you are just getting started in your chosen field, and you may also be starting a family. It’s a time of many changes, but it’s not often a period marked by financial stability. Yet millennials face all the same financial burdens that other generations have faced, and sometimes more. Month to month bills, student loans, credit cards, child care needs… all these expenses stack up, and in fact, a recent survey by Manpower has shown that 75% of millennials typically work more than 40 hours weekly to keep up with these costs, with 25% working more than 50 hours per week.

All of that hard work can help to establish a rosier financial future, but it doesn’t always provide the quick cash you need in the meantime. If the refrigerator breaks down, the car won’t start, the kids need back to school clothes and supplies, or any of a dozen other foreseen or unforeseen expenses crop up, your regular paycheck may not always supply all the cash you need, and without a solid credit history or a lot of money in the bank, it can be tough to make ends meet. That’s why car title loans in Kansas City can be such a boon to millennials, who may not yet have built up a solid credit rating.

Car title loans use your vehicle’s lien-free title as collateral, which means that they don’t require credit checks. That’s great for people who are just starting out and may not have an established credit history. What’s more, they allow you to keep your car while you repay your loan. That’s often essential for today’s busy millennials, who rely on dependable transportation to keep their job (or jobs).

Of course, the pros and cons of any financial decision should be carefully weighed by the individual, and will ultimately come down to your particular needs, financial situation, and budget. But many individuals (including millennials) have seen the value of car title loans when they’re in need of quick cash with no credit check and no loss of transportation. To learn more, just contact Midwest Title Loans in Kansas City today or fill out our Online Title Loan Information Sheet to get started!


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