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5 Ways to Spend Your Title Loan This Summer

title loan in Kansas City

Smart Uses for a Short-Term Loan

If you’ve paid off your car or SUV in full, it’s an asset you have that’s likely sitting in your garage doing nothing (other than getting you from point A to point B). What if you could use the value of your vehicle now without having to sell it? This is essentially what a car title loan allows you to do.

Title loans in Kansas City allow you to borrow cash against the value of your vehicle. You keep your car, get your cash, and repay the loan at the end of the loan period, plus a little interest. It’s simple, fast, and you don’t need to worry about things like credit score.

Depending on your vehicle, you’ve probably got a lot of value stored in it. This means you can typically borrow more with a title loan than you can with say, a credit card. This makes it a good choice if you need a bit more money for a short period.

So, what could you spend a short-term loan on? The world is your oyster, but we’ve put together five reasons people come to us for car title loans in Kansas City.

1 — Business startup costs

If you’ve always had a small business idea in mind but couldn’t find the funding, a title loan could be the option. If you’re struggling just to get the first few stages off the ground before you start reaping the benefits, a car title loan might be the right fit. Perhaps you have a business you know will blossom into quick profits if only you had the money for a website or advertising. A short-term Kansas City title loan could be just the ticket.

2 — Emergency repairs

The nature of short-term loans means they lend themselves particularly well to short-term unexpected needs. Sometimes, things break down unexpectedly, and you need to find the money to repair them or risk more costs. For example, if your car requires an expensive repair, it’s better to get the repair done now than spend more money on cabs or public transport.

3 — Seasonal gaps in income

Lots of people have jobs that feel like feast and famine. Sometimes you’ll be getting extra money coming in, and in other months the pickings are slim. Searching for a ‘car title near me’ can be the answer, as you can borrow the money you need now and pay it back next month when you get paid more.

4 — Small purchases

If you have a kid’s birthday coming up or an anniversary to celebrate, it doesn’t make sense to take out a long-term loan from a bank to cover the costs. Long-term loans are typically larger and you’ll pay a fee if you decide to pay them off early. Therefore the interest you pay on a long-term loan can be much more, as you’re forced to pay it off slowly.

Instead, consider a short-term loan where you can pay it off quickly and there’s no effect on your credit rating.

5 — Summer vacation

One of the most common reasons for getting a title loan in the summer is to pay for a vacation. It’s one of those things you’re under pressure to pay for but it can come at an unfortunate time.

Similarly, we often lend money to people to cover the financial “hangover” from a vacation that costs more than they expected. A short-term title loan in Kansas City gives you the time to get back on your feet.

Kansas City title loans and flex loans

These are all reasonable ways to use a short-term title loan, but it’s up to you how you want to use the value available in your vehicle. We tend to suggest the nature of the loan lends itself best to short-term needs or emergencies.

We offer flexible loans in Kansas City where you can dip in and out of your credit line as you see fit. It works somewhat like a credit card but you can usually borrow more. You might go months without using it, and it will cost you nothing. Then you find you need some money for a few days, and you can get it immediately from Midwest Title Loans. Perhaps the best thing is that interest is calculated on a per-day basis, so you only pay for the days you use the flex loan.

For title loans and flex loans in Kansas City, there’s no better than Midwest Title Loans. Stop by and see us at one of our three KC area locations, or get started online with our info sheet.


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330 W. 85th Street
Kansas City, MO 64114
Phone: (816) 363-8600
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Sa: 8:00am – 1:00pm

6420 North Oak Trfwy
Gladstone, MO 64118
Phone: (816) 436-7711
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8212 Metcalf Ave.
Overland Park, KS 66204
Phone: (913) 381-2222
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Sa: 9:00am – 2:00pm

2500 State Ave.
Kansas City, KS 66102
Phone: (913) 281-9997
M-F: 10:00am – 6:00pm
Sa: 9:00am – 2:00pm