At Max Cash Title Loans, we strive to provide our customers with all the information they need to make financially responsible decisions about their auto title loans. Our goal is to ensure you are with the right lender for the auto title loans that work for you. We want you to be able to pay off your loan with efficiency and ease, which is why we even encourage you to pay it off early if you’re able to. Therefore, we’ve put together some tips on how to repay a title loan fast- maybe even sooner than you thought possible.
1. Make your own payment schedule
Make your own schedule if you want to pay off your title loan fast, unless the lender we help you get gives you a schedule to follow by on the car title loan.
2. Round your monthly payment up
If you want to make more than the minimum payment each month but aren’t sure how much more you should start with, you could try rounding the amount up. For example, if your minimum monthly payment was $164.23, you would round it up and pay an even $200. It will save you money on interest and shorten your loan term, thus help you repay a title loan fast.
3. Make sacrifices
Try to think of any extra expenses in your budget that you could cut out; at least for the term of your car title loan. Try swapping a gym membership for workouts you can do at home for a while. Maybe get rid of your cable package and settle for only watching Hulu or Netflix for a couple of months. The money you save making these small switches can add up and help repay a title loan fast.
Most of the time, people justify personal expenses even if they can be cut back so get a trusted friend to go over your expenses with. Having an objective opinion helps with seeing the financial problems and optional areas you could change.
4. Make money on the side when you can
If you have spare time, there are a few ways to pick up some extra money for paying your title loan fast. Each time you get paid or make a sale with these options, put it toward your car title loan right away. Small earnings here and there can really add up and chip away at auto title loans. Here is what Max Cash Title Loans recommends:
- Drive for Uber or Lyft
- Test search engines, online stores, games and videos on sites like Inbox Dollars and Swagbucks
- Sell your photography on Shutterstock or iStockphoto and receive a percentage of their revenue
- Sell your things or clothes you don’t need with websites and apps like Letgo, Decluttr or Poshmark
- Rent rooms in your house or apartment on AirBnB
- Take paid online surveys.
- If you’re creative, sell crafts or art on Etsy
- If you’re handy, see what repairs your friends and family need done. Ask if they’ll pay you to fix or do stuff they need.
- Find all kinds of freelance work on sites like Upwork.
- Follow The Penny Hoarder blog for tons of ideas to make and save money
- If you love dogs, sign up with Rover to make extra money walking and taking care of dogs!
- If you have more time, you can build your own
- business and get work with a site like Fiverr.
5. Avoid late fees
With most auto title loans, missing payment deadlines will really cost you extra. Set up automatic payments with a lender through your bank account (if you have one) so that you never miss a due date. If you don’t have a bank account, set up due date reminders on your web calendar or on your smartphone. Don’t pay the price for not paying your title loan fast.
6. Make at least one extra payment a year
If you can’t make extra payments all the time, at least try to make one a year. Consider putting your tax return money or a work bonus toward your car title loan as an extra payment to save on interest. This will also help you eliminate the temptation to spend it on something else before you get a chance to make your monthly payment.
7. Calculate your payoff date
Use your repayment schedule to do some simple math to find out what date you will make your last payment on auto title loans. Each time you make extra payments, recalculate it. Having this date in mind won’t change your loan amount, but it can help with motivation to pay your title loan fast when you watch the date get sooner each time you make an extra payment.
Why Not Choose Max Cash Title Loans?
We here at Max Cash Title Loans specialize as a car title loan broker that can help you find the perfect auto title loans for you, especially those that can negotiate or work with you in paying a title loan fast.
We have years of knowledge on everything that involves auto title loans, and we hope to lead you to the right choices that can provide you with flexibility and peace of mind, especially to pay that title loan fast.
As a mortgage broker, we offer the best services, online and over the phone. Max Cash Title Loans works with lenders from all over the country and pride ourselves in our process and qualities as one of the best.
Max Cash Title Loans is here to help!
With our expertise on title loans, we are dedicated in giving you the right choices. Apply online or give us a call so we can help you find a car title loan that is perfect for you.