During this current economic crisis many people consider it impossible to
put away any money. I just read an article with some tips on how to save money. One they suggest is a debit card offer. I signed up for a Bank of America “Keep the change offer” about a year ago. Basically the offer goes like this. For each purchase you make with your debit card the “change” is rounded up, deducted from your account and put in a savings account. So if you buy a pack of cigarettes for $5.35 your debit account it deducted 65 cents and 65 cents is added to your “Keep the change” account. It may not sound like much, but believe it or not this can add up. The great thing is that for the first 3 months Bank of America matches what you put in. I managed to save around 40 bucks over those first 3 months so they matched it and now I have $80.00. Plus they match 5% thereafter. You have to keep the account open for a year and then it is yours. It may not sound like much, but you could conceivably put away $150.00 a year and you won’t really even notice. Read the article for other tips as well.
You still may need money in the meantime. Lets say you live in Pheonix, Arizona. You go online to research car title loan sites. You type in something like “car title loans in Pheonix, Arizona“. I am sure that you may get a lot of info, so how do you determine what site is for you? Well, here is a car title loan lender in Pheonix and throughout Arizona that I recommend. The cool thing about doing a “Keep the change” program that I mentioned above is that this savings, while not necessarily too high can help offset some of your interest. At the end of the year you will have saved some money that will help offset the interest you paid and, at the same time, you still were able to get money you needed when you needed it.
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Well, on one of my most recent blogs, I posted a testimonial passed on from a friend of mine. Since then, I have received a few emails and comments from some of you sharing their own personal stories involving car title loans. Here is one, from Sarah in Arizona, that I want to post here:
“Hi! I saw your post the other day about the woman who secured a car title loan and was able to pay off her school costs on time. I have a similar story relating to last second bills where I took out a car title loan to help me out. I am
A car title loan helped this woman pay off here attorney
going through a pretty bad divorce and needed money to pay off my legal fees for my attorney. The fees were due at the end of the month (at the same time my mortgage and car payment were due). It is difficult making ends meet from month to month so any additional bills put an extra burden on what I can pay off. I needed to pay my attorney though so I went to the bank to take out a loan. They told me that due to my questionable credit score (which is pretty average) and the current state of the economy they could not loan me the money I needed. I had heard about car title loans and decided to go online and check them out. I am from Arizona so I went online to one of the car title loan sites that you actually recommend called Fast Auto Loans (http://www.claaz.com). They were very pleasant and even more importantly they were fast. I filled out the online application, heard from them a little thereafter, went down to their store and had my money in less than an hour. While I couldn’t afford all of my bills at one time, I was able to give myself some time and spread the payments out over time.”
-Sarah (in Arizona)
Good story huh? This is the type of situation where car title loans can really help.
Well finally, it seems like we are getting some better news about the economy. Here is an article I saw today:
While it’s not all great news, at least things are sounding a little better. The article says that experts predict that the economy will not really bottom out until September or October. So what do we do till then? I mean, what happens if we need some money quick and we cannot or do not want to go to friends and family? Sometimes people ask me about credit cards. This is what I tell them: Firstly, how is your credit? Do you think you will even get accepted? If so, if your credit is bad you will be paying higher interest rates and minimum payments. How quickly do you need 
the money? If you are going to apply for a credit card it can take a few weeks until you are able to use it. For those people who already have a credit card and want to take a cash advance, there are a few things that I warn against. The first thing that many people are surprisingly unaware of is that cash advances have an extremely high interest rate which is almost always much higher than the purchase APR. The next thing I tell them is that most people are unaware of how your future payments are applied to your balance. Say you already have a balance on your credit card of $5000.00 with an purchase APR of 10%. If you take a cash advance for $500 at a 25% APR, your payments are applied to paying off that $5000.00 with interest before it starts to apply to the $500.00. This is really huge! Think about it. It could take years to pay off $5000.00 and in the meantime the $500.00 has a 25% interest rate accumulating. This can end up costing you a lot of money.
In this case I recommend two options: a payday loan or a car title loan. As I have stated in previous posts, car title loans are great because you do not have to do a credit check. While the APR is higher than most bank loans, title loans are intended as short term loans. So if you take out $1000.00 it shouldn’t take you too long to pay it off, and the APR (Annual Percentage Rate) is nonexistent or at least misleading because there is no “Annual”. It is just a few months. Plus, if you have any kind of credit card balance, you do not have to worry about long term ramifications. I got a comment from a guy in Wisconsin curious about car title loans. So, let’s say you need a car title loan in Milwaukee or Green Bay, just go here and you can learn more. These car title loan sites I recommend have simple applications and many locations so it should be easy for you to get what you need.