When your car breaks down unexpectedly, the repair bill can throw your entire budget off track. Auto emergencies rarely wait for payday, and repairs often cost hundreds, or even thousands, of dollars.

At Tennessee Title Loans, Inc., we offer flex loans, or a line of credit loan, to help you cover urgent car repairs quickly. This short-term loan provides flexible access to funds so you can get back on the road without the stress of long approval processes.

Let’s learn about lines of credit - what they are, how they work, the different types, and their benefits. Let’s begin!

What Is a Line of Credit Loan and How Does It Work?

Also called a flexible or flex loan, a line of credit (LOC) loan is a type of lending wherein the borrower can set their credit limit and borrow as little or as much money as they need as long as they don’t exceed the set credit limit. Once the borrowers repay the money, they can borrow funds again. 

Key points about a line of credit loan:

• You only pay interest on the amount you use.
• LOCs are considered short-term loans, ideal for emergencies.
• Many borrowers in Tennessee use flex loans for urgent car repairs or other unexpected expenses.

This type of loan is perfect for anyone who needs quick access to cash without committing to a long-term loan.

There are various types of LOCs, the most common of which are personal, business, and home equity (HELOC). Other types include:

• Demand Line of Credit
• Securities-Backed Line of Credit (SBLOC)
• Limitations of Lines of Credit

LOCs are less common than credit cards, although they are considered generally lower-risk.

Benefits of Using a Flex Loan for Car Repairs

Facing an auto emergency can be stressful, but a Tennessee flex loan offers peace of mind. Here are some advantages:

• Flexible Access. One of the most significant advantages of LOCs is having flexible access to money. You can take out money whenever needed if you stay within the limit. Depending on the car repair cost, you can borrow only the necessary amount to avoid debt. Once repaid, the money becomes available for borrowing again.
• Quick Access to Cash. When you have an auto emergency, you won’t have time to go through a traditional loan's lengthy and complicated processes. With an LOC, the process is quick, and you can immediately access the much-needed money.
• No Interest Until Used. Unlike traditional loans, where interest rates immediately apply when you receive the money, with an LOC, you only pay for the interest you borrow. No fees will apply if you don’t use the credit.
• Convenient Repayment Terms. LOCs typically offer repayment options, and the borrower controls how the borrowed money will be repaid. Depending on your convenience, you can return the funds immediately or over some time.
• Peace of Mind. Having a line of credit means having access to cash when you need it the most, giving you peace of mind. You’ll have funds to cover unexpected expenses like a car repair - if you have an LOC, you’re prepared for emergencies financially!

How to Get a Tennessee Flex Loan

Getting a line of credit loan from us at Tennessee Title Loans, Inc. is easy. We accommodate all types of income; we don’t look at credit scores, you get your money fast, and you get to keep your vehicle!

1. Submit Our Quick Online Form ��� Start your short-term loan application anytime.

2. Get a Call from a Representative – We’ll verify your details and schedule a convenient car inspection.

3. Bring Your Required Items – You’ll need:

• • Driver’s license or state-issued ID
  • Lien-free car title
  • Proof of income
  • Your car for a quick inspection

4. Get Approved and Receive Cash – If approved, sign your paperwork and get your money the same day in many cases.

Once you repay your balance, your title is released, and your credit line remains available for future emergencies.

FAQs About Title Loans and Flex Loans

Can I get a Tennessee flex loan with bad credit?

Yes. We focus on your car’s value and your ability to repay, so good credit is not required.

How quickly can I receive funds for an auto emergency?

In many cases, you can get approved and receive funds the same day you apply.

What is a line of credit loan best used for?

LOC loans are best for unexpected expenses, such as car repairs, emergency bills, or short-term financial gaps.

Get Started Today

Auto emergencies don’t have to derail your plans. A Tennessee flex loan or line of credit loan can help you cover repair costs quickly and keep your car on the road.

Submit your online form today to get started and receive your emergency funds fast.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.