Borrowing money is daunting, and at Tennessee Title Loans, Inc., we help you get emergency money in times of urgent financial need. Here are our loan options and how each one can be utilized.

We offer title loans, payday loans, and line of credit options, each with its use-case scenario. In this article, we’ll highlight how each borrowing option works, what you’ll need to apply, and how you can utilize borrowing to boost your short-term cashflow options.

What Are My Simple Loan Options In Tennessee?

1. Title Loans

First, title loans are secured loans that use your car title as collateral. If you own your car outright and have a lien-free title, a Tennessee title loan is a convenient option for you. Similarly, if your credit could be better, a title loan might be worth considering, as the security in the loan comes from the title of the car, not your creditworthiness.

The more valuable your car is, the more likely you will be able to borrow more money. We offer anywhere from $300 to $2,500 on a title loan, and the in-person process can take as little as 30 minutes. You will need the following items:

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

To get started, fill out our quick request form and wait for a call. A representative will book an appointment with you, and when you head to the meeting, an associate will review your required items and see if you qualify for approval. You can choose whether or not to visit the store; if you prefer, we’ll meet you at a location that works well for you.

2. Payday Loans

A payday loan is an advance on your next paycheck and ranges from $100 to $400. They can be used when you need urgent short-term cash but don’t have time for a slow-churning financial institution to approve you for a loan.

Because a payday loan is pre-secured by a blank check that you sign, your credit score plays a far less significant factor, making it ideal for those with poor credit. They are only available in-store, however, so you can check out the Locations tab to find a nearby loan office.

You can start by filling out the online form, and a representative will call you back when possible. Next, you’ll meet with a representative to verify your required items and qualify you for approval. Here’s what you’ll need:

• Your driver’s license
• Your most recent pay stub
• A blank check from an active checking account in your name

3. Line of Credit

A line of credit, sometimes called a flex loan, is a borrowing option that lets you take out money as you need up to your limit. As you repay the loan, the credit becomes available for use again, similarly to a credit card.

This type of loan is ideal when you have repeated or recurring expenses whose amounts are uncertain. That way, you can draw from the line of credit on demand up to $4,000 over a set period.

You don’t need amazing credit to take out a line of credit, and you may be approved even if you already have a title loan with us. To get started, make sure you’ve got the following:

• Your driver’s license or state-issued ID
• Your lien-free car title
• Your vehicle for inspection
• Proof of income via your most recent pay stub

Start with the online form, as usual, and await a call from a representative. They’ll walk you through the process for getting a line of credit and help you find a nearby store if you need directions.

Head to the store and follow through with a quick process. An associate will inspect your items, including your vehicle, to determine if you qualify for approval. If so, you’ll get the money the next business day.

When Should You Consider A Loan With Us? 

Now that you understand how each of our loan offerings works let’s briefly discuss their use. It’s important to remember that loans are a short-term option and shouldn’t be used for frivolous purchases, only for significant expenses. Using them for unimportant things is a waste and may be financially detrimental; instead, you should only use them in situations like the following:

• Urgent repairs
• Medical bills
• Important business travel
• Unplanned expenses

Choose Your Emergency Loan Option Today!

Understanding your borrowing options can help you be prepared when an emergency strikes. Now that you understand our loan options, you can use them when you need urgent cash.

Tennessee Title Loans, Inc. is here to help when you need a loan, and with flexible options, you can rest assured that your money matters. Call or inquire online to see how much you could qualify for today!

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