How a Short-Term Loan in Kansas City Can Help You

Buying real estate can be a great investment. A home of your own can give you great comfort, and once you’re on the property ladder you can trade up to bigger and better things or rent out properties for a residual income. But it isn’t without its ups and downs. Sometimes you need some money quickly to cover costs. For a short-term loan, consider a title loan in Kansas City. Kansas City title loans use your vehicle as collateral, so they’re secured loans. This means you typically have access to more money and you don’t need to worry about things like your credit score. Searching for a title loan near me when you’re in Kansas City will return Midwest Title Loans as a top option, as we offer title loans and flex loans based on your vehicle’s value. So, what types of situations are ideal for a title loan or a flex loan?

Getting your home ready for sale

If you’d like to move to another house, you usually need to sell your current home first. This means getting all of the little problems of the house sorted so that prospective buyers have nothing to stop them from buying your home. Painting the tired walls, replacing carpets, new bathroom fittings, and deep cleaning don’t cost a lot, but they’re useful for making your home look its best when you’re trying to sell. You may also want to budget some money for advertising your real estate or using a real estate agent to sell your home.

Making a better offer

If you’re buying real estate, you might find you’re outbid by a small amount and you can’t quite match the current offer. If you know that the property you’re looking to buy is worth it, it can be very frustrating knowing you’re almost there but can’t quite afford it. A flex loan or title loan in Kansas City can be just the ticket, as you can use the money from either of these types of loans for anything you like, including making a better offer on real estate. You’ll ultimately end up with the home of your dreams, which is certainly worth it.

Unexpected transfer costs

After you buy or sell real estate, you might be hit with some unexpected fees. There are title transfer costs, property taxes, and sometimes you have to pay a percentage of the sale as a transfer fee. A short-term title loan can help you get over the hump and cover these costs when your capital is at its lowest.

Fixing up a purchased property

You might buy a property that needs some renovation. Often, you can get a fantastic price on a house that needs fixing up. A title loan or flex loan is just the ticket, letting you quickly fix up the home so you can live in it or rent it out. The faster speed at which you can solve these renovation problems means you’re able to save on rent or make more of a profit sooner, so a short-term loan can actually save you money.

Landlord’s emergency fund

If you decide to rent out a property, you’ll need to worry about emergency expenses if something goes wrong with it. You can cover some of these problems with insurance, but you’ll still be out of pocket somewhat if the plumbing, roofing, electrics, gas, appliances, or basement need any kind of repair. Renters expect a swift resolution to these issues, and if you don’t fix them immediately then there can be legal repercussions. You can keep an amount of money aside to cover these emergencies, but it's just as easy to have a flex loan available taken out on your vehicle. A flex loan costs you nothing when you don’t use it. If you unexpectedly need money, like when there’s something that needs to be fixed in your rented-out property, you can dip into your flex loan like it’s a credit line. As interest is calculated on a per-day basis, if you repay the loan promptly it’ll hardly cost you any interest and you don’t need to keep a sum of money sitting around for emergencies. A flex loan as an emergency fund is useful even when you don’t rent out your property and live in it instead, as there’s always going to be a time when you need that little bit of extra money quickly.

Kansas City Title Loans

If you’re ready to dive into the world of real estate, but need a financial boost, Midwest Title Loans is here to help. Whether a car title loan or a flex loan sounds like the best fit, our team of short-term lending experts can help you get the cash you need. Get started by filling out our online info sheet, and then stop into one of our Kansas City title loans locations to get your money.

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Tips for Saving on School Supplies

Have you realized that summer is half over already? After the tumultuous 12 months we’ve all had, it’s tempting to sit back and relax for a bit, but now is the perfect time to start thinking about budgeting for the next year of school supplies. We’ve put together this guide to help you reduce the costs of the school year by planning for it now.

Re-use items from last year

It's fun to buy a whole new set of gear for a new school year, but it isn’t good for your pocket. You can discard old items that are past their best, but there’s likely to be many useful notebooks, binders, and sets of pens available from last year if you re-organize your kids’ rooms. In particular, big-ticket items should last multiple years. Your school may ask you to supply expensive items like calculators, USB drives, backpacks, or even tablets. If your children have used these in the past, don’t go out and buy new ones just for the sake of staying current. They’re all going to take a beating in the classroom anyway. If you have more than one child, think about the things you can hand down from one to the other. When an item becomes less useful for one child, it’s often perfect for the next child’s needs.

Budget and research

Your kids’ school may have already sent out a list of requirements for the next school year. If not, give them a message and ask for it, because now is the time to start buying. Research the various places that sell the items you need. Kansas City discount stores are a good source of cheap items, and it also makes sense to check online for deals. Bulk deals can make financial sense in the long run, especially if you have multiple kids. Online sales are especially good for bulk items. With a car title loan, you can buy in bulk now to save money.

School outfits

One of the biggest expenses for kids is clothing. They grow out of it so quickly, so it can make sense to first check thrift stores for deals on brand-name clothing. Otherwise, ignore expensive brands as the clothes are not going to last for much more than a year, anyway.

Missouri Back-to-School Tax Holiday

Of particular interest to parents in Kansas City should be the Missouri Back-to-School Tax Holiday, this year held from Friday, August 6th to Sunday, August 8th. Most items for the back-to-school season will be tax-free over this time, which makes for an additional 4.225% saving on prices. During this time, you can get a discount on graphing calculators, computer peripheral devices like mice and keyboards, personal laptops and computers, computer software, school supplies, and back-to-school clothing. Be advised that back-to-school clothing includes any clothing that can be worn on the body, so it includes items like footwear and diapers. It’s a great time to get an extra few bucks off these items for your kids. You can even use the tax-free time to make purchases online. Just make sure that you don’t go over any of the purchase limits that are listed on the Missouri Department of Revenue website. Also, some Missouri counties don’t take part in the school tax holiday.

Consider a short-term title loan

Title loans in Kansas City are an option for covering the short-term costs of school supplies you buy at the start of the school year. With a car title loan in Kansas City, it’s easy to use the value of your vehicle to borrow enough money to cover these expenses and you’re not locked into a long loan agreement. You can take out your Kansas City title loan and repay it a month later, saving you from months of accumulating interest. If you’re considering searching for ‘title loans near me’ in Kansas City, you only need to know a few things. You get to keep your vehicle and no one will know you’ve taken out a title loan on it. The vehicle must be in your name and the title should have no liens on it. This means you must have paid off any car loans in full before taking out a title loan on it. It’s that simple to use a car title loan in Kansas City to get you over the hump of buying the next school year’s supplies. If you have more questions, reach out to our loan experts at Midwest Title Loans. They’ll be happy to help you.

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An Overview of Two Types of Short-Term Loans in Kansas City

The financial world can seem like a complicated mystery to most, making applying for any type of loan feel like an overwhelming task. But as the world of lending has diversified over the last few decades, many lending options have opened up to consumers, some of which require little to no credit, and others still that are great short-term loan options. Where we once had to suffer a long application process to get a small loan from a bank, now many short-term loan options are available to you as a consumer. Two such short-term loans are car title loans and their cousin, the flex loan. In this article, we’ll outline the details of both of these options, what makes them different, and why you might choose one over the other.

Secured vs. Unsecured Loans

First, we should discuss two different types of loans—the secured loan and the unsecured loan. Unsecured loans are simple—a lender will lend you money on the promise that you’ll pay it back. While they have some legal recourse if you don’t pay the money back, it’s still a risk, and therefore interest rates are quite high. Unsecured loans typically require quite a lot of paperwork as you need to be able to show you have a solid, dependable income. The credit industry handles unsecured loans by using a credit rating system where everyone is given an approximate credit score based on their credit history. It’s an imperfect system that often sees reliable borrowers unable to get credit. A secured loan, on the other hand, is any loan that you get by putting up collateral. For example, if you own a house, a bank will lend you money up to a percentage of the value of that house. There’s less risk for the lender as if you don’t pay back the money they have a legal right to the secured property or part thereof.

Car Title Loans

Title loans are one of the main types of secured loans. A lender will lend you money based on the value of your real property, which is typically a house, building, land, or vehicle (in this case, we’re referring to your vehicle). The document that shows you own this property is called the title. When money is loaned through a title loan, the title gets an addendum called a lien. It’s like a note on the title that says the lender has a right to recover the amount of money they loaned you from the property should you fail to repay (which is rare, in most cases). In the case of a car title loan, you can borrow a set amount of money based on the value of your vehicle.

Flex Loans

Typically, at the end of the term of a title loan (when all the money has been paid back), the lien is removed from the title. With a flex loan, you have the option of keeping the lien open so you have instant access to another loan should you need it in the future. If you choose a car title loan in Kansas City from Midwest Title Loans, this additional flexibility comes at no cost. If you keep the loan open, yet never borrow any money, it costs you nothing. Furthermore, when you do decide to borrow money again on your flex loan, perhaps just for a few days, interest is calculated on a per-day basis. Why should you care? This means you have access to a revolving credit line you can dip into when you see fit, similar to a credit card. But because it’s a secured loan, you are typically able to borrow more money at a time, and the interest rate might be lower than a credit card. Title Loan and Flex Loan Requirements A final benefit of Kansas City title loans and flex loans is how easy they are to get. Because you have a tangible asset that can be used as collateral, there’s much less paperwork to worry about. Lenders like Midwest Title Loans typically don’t even check your credit rating, as the loan will be secured against the value of your vehicle. To get a flex loan or title loan in Kansas City from Midwest Title Loans, you need to be at least 18 years old. You’ll need a vehicle title that’s in your name and that doesn’t already have a lien on it (this is known as “free and clear”). You’ll also need a photo ID, like a driver’s license. And for flex loans, we need to see some verification of your income, such as pay stubs or a letter of employment. Title loans and flex loans are very similar, with flex loans just adding another layer of versatility and convenience, should you need an open line of credit. Get in touch with our loan experts today to discuss which option is best for your needs.

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One of the Best Options for a Short-Term Loan in Kansas City

Title loans are one of the simplest, fastest, and most economical ways of getting cash fast, but not everyone knows exactly how they work and why they’re an excellent short-term loan option. If you’re looking for a title loan in Kansas City by searching for ‘title loans near me’, Midwest Title Loans should be your preferred option, as we’ve perfected title loans over the decades. In this article, we’ll discuss what title loans are and what to expect from the lender.

Car title loans in summary

Title loans are a type of loan where the money given is secured against something of value - in this instance, your vehicle. The lender knows you have real value in your car, so you can borrow against that value. There’s less risk to the lender, so interest rates can be lower. To get a title loan, you need to own something of significant value. For many people, that’s their car. If you’ve paid off your car in full, it’s an expensive asset sitting in your garage doing little but depreciating. Car title loans allow you to borrow against the value of your car so you can get cash today.

Credit checks not necessary

When you go for almost any other type of loan, the lender will run credit checks that give them an understanding of how much money you have and how you’ve handled credit in the past. Unfortunately, if you’ve not needed to use credit much in the past you’ll have a low credit rating, so your loan application will likely be denied. The credit rating system is imperfect and means many people can’t get loans despite having a dependable source of income. Thankfully, with a car title loan, there’s no need for the lender to check your credit as they can see you have a car that’s worth something.

Title loan application process

But any loan process is complicated, right? No! One of the reasons car title loans are so popular is how simple they are to get. Because you’ve stripped away the credit rating system from the equation, it’s all just between the lender and you. The lender has much more freedom to choose who to lend to, and expert Kansas City car title loan providers like Midwest Title Loans have perfected this into an art. You can apply online by filling out a short form. Then drive your car to one of the four locations in Kansas City, Gladstone, and Overland Park. Hand over your car title, and get your cash within minutes. You get to keep your car always, and when you’ve repaid the loan, pop in to get your car title back. It’s that simple!

Are there any other requirements?

Not really. You need a photo ID and you must be over 18 years old. Of course, the vehicle needs to be in your name and be paid off in full. In other words, there shouldn’t be any other lien on the car. Even if your car is registered in another state, we can help you. We’ve even helped people who have wrecked cars, or have no car insurance, or have poor credit. Get in touch with us today if you have any queries, as we love to help anyone who is looking for alternatives to the modern credit system.

What if I can’t repay the loan in full?

At Midwest Title Loans you get a generous 60 days to repay the loan. If, for any reason, you can’t repay the loan in full, you can repay just the interest and get another 60-day contract. If you like, you can repay more than the interest, and anything extra you pay will be directly applied to the principal loan amount, meaning you’ll have less interest to pay the next time.

Car title loans in Kansas City

If you find yourself in need of fast cash and you don’t want to deal with a traditional lending process, look no further than Midwest Title Loans in Kansas City. We have three convenient locations in the KC area to best serve you. Contact us today or stop by and see us to get started.

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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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Personal loans have many uses

There are many valid reasons for seeking a personal loan. People can find themselves in a situation where they simply need to find a source for additional funds in the short term. A personal loan differs from loans that are earmarked by the lender for a specific purpose, such as buying a home or a car loan. There is no specific requirement for which a personal loan must be used. One of the most cited reasons for obtaining a personal loan is to consolidate existing debt. You might find that your credit card balances are too high and that making the minimum payments on the credit cards is costing you too much money in interest. Or the combined total of those minimum payments exceeds the payment required monthly on a personal loan taken out to pay the credit card balances off. Another reason that some people get personal loans is for home remodeling projects, and to make home appliance purchases that can be costly. Wedding expenses and moving costs are also reasons that people state for obtaining a personal loan. These are one-time expenses that are not recurring in nature and are well-suited for a personal loan. There can also be an array of emergency expenses that necessitate seeking a personal loan such as medical expenses, funeral expenses, vehicle repairs, and other personal emergencies that involve unexpected expenditures for which you do not have the money available in your budget. If you do not have the cash available to cover these expenditures, you must consider all the alternatives that may be available to you. Most of the time, the person borrowing the money needs quick access to the loan and may not have a lot of time to shop for different funding sources. Banks and credit unions can take weeks to approve and fund a personal loan or line of credit. There are also several finance companies making personal loans, but again if you need a loan quickly it will take at least a few days for a finance company to approve a loan. They will require various types of documentation, credit checks, and other requirements before funding a personal loan.

Car title loans are simple

There is another type of loan which may be available to you that is quickly and readily available, and doesn’t have burdensome requirements as other loans from the more traditional lending sources do. We invite you to consider us at Midwest Title Loans for a car title loan in Kansas City. With more and more people keeping their vehicles for longer periods, they find that they have paid off the auto loan they used to purchase the vehicle and now have a lien-free title. We at Midwest Title Loans are a great source of quick cash lending from a short-term lender that is a leader in vehicle title lending in Kansas City and the surrounding area. The tremendous advantage that we offer you is the ability to receive a cash loan quickly – most times in 30 minutes or less. Our process is straightforward, simple, and painless while you are treated with the respect and dignity that you deserve. We are not concerned about your credit score or credit history as we do not depend on these factors in making a loan to you. All that is required is that you come to one of our convenient locations in Kansas City at 330 W 85th Street and 2500 State Street or one of our other locations at 6420 North Oak Trfwy in Gladstone, and 8212 Metcalf Ave in Overland. Once you are in our office, we will ask you to fill out a short, simple application form while our professionals evaluate your vehicle to determine the amount that we can lend you against your vehicle title. After that, you simply show us your valid government-issued identification, give us your lien-free vehicle title, and sign the easy-to-read loan agreements. It is that simple. After completing this process you get your agreed-upon amount of cash and drive away from our office in your car while we hold the title, which we will gladly return to you when you pay your loan off in full.

Flex loans are the best of both worlds

We also have another type of loan available that you may want to consider – our Midwest Title Loans flex loan. The flex loan is a product that you visit our office to set up, and we will give you a preset line of credit with a credit limit based on your vehicle evaluation. You then have this credit facility available to you. You can use this on a revolving basis with an amount that refreshes as you make payments against the credit line. It makes it easy to get the funds you need since you do not have to go through the full process every time you need additional funds. You just call us and tell us how much you want to borrow against your available credit and come in to pick up your cash. For a traditional title loan or one of our flex loan products, contact us today at any of our four convenient locations.

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Back rent related to COVID-19

The moratorium on evictions offered by the federal government is a blessing that could turn into a nightmare for many renters. The federal government has recently extended the moratorium to June 30, 2021, to assist renters during the COVID-19 pandemic. But even if the government extends the moratorium beyond that date, there will come a time when back rent must be paid to landlords. There are several government programs available that you can apply for that give assistance in paying rent, but this process takes time and it is not guaranteed that you will get all the help that you need. To protect yourself as best as possible, you should follow the steps necessary and fill out the forms to let your landlord know you are invoking the moratorium for evictions for nonpayment of rent. It is also a good idea to talk to your landlord directly, communicate with them that you fully intend to pay your rent, and try to make some temporary arrangements to at least partially pay your rent. You can hope that the federal government or other agency makes funds available for the payment of back rent, but you do not know what the qualifying criteria will be. Be planning your next steps without regard to assistance that may or may not be available.

Flexible loans are available for paying back rent

During the trying times of this pandemic, you may want to consider taking out a loan to pay your back rent. There is a good possibility that if you are unable to pay your rent you may also be behind on your other bills. As a result, your credit rating has suffered, making it difficult or impossible to get a loan from traditional lenders such as your bank or credit union. If you find yourself in this situation, there are alternatives that may be available to you. Car title loans or flex loans are one source that may suit your needs. A superb source for quick cash lending from title loans in Kansas City is Midwest Title Loans. We at Midwest pride ourselves on being the lender that you can count on to assist you with short-term loans to get you through those times when you are short on cash. We are a leader in low credit lenders in Kansas City and make it painless for you to get a title loan or flex loan to pay back rent owed. We can structure a loan plan that will allow you to satisfy your landlord while getting yourself back on track.

Title and flex loan process

It almost sounds too good to be true, but to get a title loan or flex loan from Midwest Title Loans, all you need to do is bring in your car and lien-free title to one of our four convenient locations in the Kansas City area and let us do the rest of the work. We can put the extra cash you need in your hands in as little as 30 minutes. You just come into our office with your photo ID and car title and fill out an application while our professionals inspect and evaluate your vehicle to determine how much we can lend to you. It is that easy. You drive off our lot in your vehicle with the money you need, while we hold your car title until the loan is repaid.

A flexible option

A flex loan is much like a traditional car title loan, with a little twist. To get a flex loan from us at Midwest Title Loans, you come in just as you would for a traditional title loan and fill out an application while our professionals evaluate your vehicle and determine a loan amount. The difference is this amount represents a credit line that is available to you, but you do not have to borrow the full amount at any one time. When you make payments against the credit line, you free up more funds that you can borrow. Anytime you need additional funds on your flex loan, you just call us and tell us how much money you need and come in and pick up the cash without having to fill out additional paperwork or go through any other steps. Midwest Title Loans will make cash available to you for back rent or any other need without all the hassles that other lenders will put you through. We treat you with the dignity that you deserve. Visit us at one of our convenient locations in Kansas City, Gladstone, or Overland Park, and let us help you today.

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Canceling a credit card without credit score harm

Many people believe that canceling a credit card is as simple as cutting it into pieces. This will indeed destroy the credit card and keep you from using it anymore, but it does not cancel the card. To completely cancel the card, call the credit card company and inform them you want to cancel it. You will need to pay off the credit card balance before canceling the card.

Should you cancel your credit card?

Consider whether canceling the credit card is the right thing to do. When you cancel a credit card, you lower the amount of total credit available to you. This raises your credit utilization rate, which is a negative factor in the calculation of your credit score. Another factor to keep in mind is that when you cancel a credit card, you lose the benefit of getting a positive mark on your credit report each month. Even if a credit card has a zero balance, it is reported as being paid each month. An additional consideration is that if the credit card you are canceling is a card that you have had for a longer period than other credit cards, it could impact your credit score by making your credit history appear to be shorter. You might also want to check if there are any unredeemed rewards balance attached to the credit card as you will almost certainly lose these when you cancel the credit card. If, despite considering all the negative factors related to canceling a credit card, you find you need to cancel the card because you cannot properly control your spending or you are not using the credit card but are paying an annual fee, canceling the credit card is in your best overall interests. Another reason to cancel a credit card is if you are expecting divorce proceedings and you have a joint credit card account.

Mitigate the loss of credit by increasing credit limit on other cards

One way to lower the negative credit score factors associated with canceling a credit card is to request a higher credit limit on one of your other credit cards to offset the loss of the total credit limit. If you are canceling a credit card because of annual fees, replace the credit card with a no-annual-fee card before you cancel the account. One more way to ease the effect on credit utilization is to pay down existing balances on some of your other credit cards in an amount that approximates the credit limit on the credit card that you are canceling.

Paying down existing credit card debt with a car title loan

Even though paying down debt seems like a straightforward way to keep your credit score from being harmed when canceling a credit card, you may not have the cash readily available to make such a payment, or you may not want to deplete your savings accounts that are used for future emergencies. You may not realize it, but you might have the money that you need to pay down credit card balances readily available to you without tapping into your savings account. When you are asking yourself what affects my credit, a car title loan might just be the answer to your cash and credit needs because it represents a different loan category than credit cards. It is listed under short-term loans. So, by paying off existing credit card debt with a car title loan, you can reduce the amount of credit utilization you have, even if you cancel one of your credit cards.

Car title loans in Kansas City

Midwest Title Loans is the premier source of title loans in Kansas City and the surrounding area. We have been offering title loans to our satisfied customers for years, helping with many credit needs and securing our position as leading low credit lenders in Kansas City. We pride ourselves on making the entire process of making a title loan to you as easy as 1,2,3, with a total completion time that’s less than 30 minutes. Drive to one of our four convenient locations in the Kansas City area, and fill out a simple application form while our professionals evaluate your car to determine the amount of the loan for which you are qualified. Provide us with your lien-free vehicle title, and drive away from our office in your car with your cash. Let us help to protect and improve your credit score with a title loan that can provide you with the cash to pay down credit card balances today.

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Can You Get Car Title Loans in Kansas City Without a Title?

Title loans have emerged as one of the most popular forms of short-term loans in the modern era. Car title loans offer significant advantages to consumers over many of the other credit options available to them. We’re often asked at Midwest Title Loans whether it's possible to get a car title loan without that one essential piece of paper you need - a title. The short answer is no. You need the car title to show that the vehicle actually belongs to you, and the lender will keep the car title during the period of your short-term loan. Having said that, it’s simple to get a copy of your car title from the DMV or get your name rightly put on your car title. In this article, we’ll go over the basics of car titles, getting a title loan in Kansas City, and quick cash lending using a car title as collateral.

Understanding car title loans

Car title loans are some of the simplest forms of credit available today, and it's this simplicity that has made them so popular. For most people, the purchase of their car is a significant investment. Wouldn’t it be good to be able to use the value in your vehicle for a positive benefit? That’s where car title loans come in. Any real property you own outright, such as a house or a car, can be used to get credit. The lender knows that you own something of significant value, so there’s less risk to them that you’ll default on your loan and leave them in the lurch. Just like you can remortgage your house and still live in it, you can use your car as collateral for a loan and still drive it. Forget worrying about your credit score, long applications, or complicated credit agreements. A car title loan is simple, quick to get, and doesn’t rely on your credit score. You get your loan, get your money, and pay back your loan shortly after when money is less tight.

Car title loan requirements

Car title loans in Kansas City have a very short list of requirements. You need to bring in your car for a brief inspection. We need to see a photo ID, too. And you need the car title that’s clear of any liens. What do we mean by liens? If you already have a loan taken out against your vehicle, the car title document will show that there is a lien against it. This means that if you failed to pay back that original loan, then someone else has the right to recover the vehicle and use its value to repay the loan. It’s too complicated for multiple liens to be made on a single vehicle, so car title loan providers ask that the car title be free of other liens before you take out a new loan.

Car title loans without the car title

Car title loan providers won’t lend you money on a vehicle you can’t prove is yours, so you need the car title document. You can get a copy of your car title from the relevant DMV by filling out a short form and paying a nominal fee. If for some reason the car you own doesn’t have a car title in your name, that will need to be rectified before you get a car title loan on it. You will need to contact the DMV with proof that you own the vehicle. If you need help with this, get in touch with Midwest Title Loans, and we can give you advice on what to do in your particular situation. Perhaps you’ll need to contact the original owner or dealership to ascertain why the car title loan hasn’t been updated and get the car title details corrected at the DMV.

Midwest Title Loans in Kansas City

Once you’ve sorted out your car title, getting a title loan in Kansas City couldn’t be simpler. Midwest Title Loans is one of the longest-running short-term lenders in the area having provided car title loans since 1997. Our flexible, customer-focused approach has helped thousands of customers get a short-term car title loan. We invite you to get in touch with us today at one of our four locations in Kansas City, MO; Kansas City, KS; Gladstone, MO; and Overland Park, KS. Alternatively, get started right away with our online application. We’re ready and waiting to help you get a useful short-term car title loan.

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A Quick Guide to Short-Term Loans and How to Improve Your Credit Score

Here at Midwest Title Loans in Kansas City, we know that sometimes, no matter how diligently they save their money, people fall on hard financial times. Many people who find themselves crunched for cash will turn to short-term loans, such as title loans, to help them get out of a bind quickly. But some may wonder -– what affects my credit? Many wise consumers have thought about this as well as how to improve their credit score. As one of the top short-term lenders in Kansas City, our experts at Midwest Title Loans know a thing or two about credit scores, including what can affect them and how a title loan will (or, rather, will not) impact them.

What is a title loan?

First things first – a car title loan is a type of loan available to people who own a vehicle outright (meaning you aren’t paying a loan on it). You can use a title loan to borrow a substantial amount of money by using your car as collateral. Car title loans offer a number of advantages over traditional loans one of which is how easy it is to get a car title loan. Title loans have some similarities to payday loans. You need not have credit requirements, as title loans are short-term loans. However, for a title loan, the security for such loans is your motorcycle or car. The lender decides how much you can borrow based on the value of your vehicle. The loan can be anything from $100 to $10,000 or more. The title of the car remains with the lender until you repay the loan in full.

What affects my credit?

Title loans do not affect your credit score at all. This is because title lenders do not run a credit check or hard inquiry when processing a title loan application. Additionally, a title loan does not help your credit score because lenders do not always report your payments to credit bureaus. Defaulting on a title loan usually results in the selling of the vehicle, and hence it is also not reported. So credit score is not affected, even if you default on a title loan. A default on a normal unsecured loan results in damage to your credit score.

How to improve credit score

If you have bad or no credit, one of the best ways to get much-needed cash is by opting for a title loan. These types of short-term lenders won’t check your credit history, and you can pay the loan back at your own pace. The vehicle title is transferred to the lender as collateral until you pay off the loan. It does not have an impact on the borrower’s credit score. When you pay off a normal unsecured loan, your credit score improves, but not so with a car title loan. The reason for this is that you are using an asset, a vehicle in this case, and it does not affect your credit. If you want to improve your credit score after paying off a loan, you must choose traditional unsecured loans. If you cannot pay back a title loan, you can simply rollover the current loan into a new title loan.

Title loans in Kansas City

If you need a car title loan in Kansas City, the best place is Midwest Title Loans. We pride ourselves on being the best short-term lenders in Kansas City. Midwest Title Loans is an established and reputable lending company in Kansas City. Starting in 1997, we have many satisfied customers today because of our friendly and flexible approach. Check the reviews of our many satisfied customers. You can also fill out a loan application form online. You may need cash to cover various household or other urgent expenses. You just need to drive in with your photo id and a vehicle, which must have a lien-free title. At Midwest Title Loans, you will have a hassle-free experience lasting for 30 minutes at the most while getting the loan. You will need to fill out an application form. We will then evaluate your vehicle. When the application is approved, you get the cash you need and you are free to use your car. Only the title remains with us. You get it back when you pay off the loan in full.

Benefits of title loans

When you need quick cash in Kansas City for anything – covering tuition fees, repairing household appliances, buying school supplies, paying unexpected medical bills, repairing other vehicles, renewing your car tags, covering any other emergency expenses – but are low on credit, come to Midwest Title Loans. We promise you a same-day approval, provided your vehicle has a lien-free title. Car title loans are suitable for almost anyone. And the biggest advantage is that you can keep using the vehicle even after offering it as collateral on your loan. There are no restrictions on where and how to use the cash you get through a car title loan. You can visit us at one of our four convenient locations around Kansas City, or contact us any time at (816) 363-8600 for more information. Or, if you’re itching to get started now, feel free to fill out our online info sheet.

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