Should You Get a Car Title Loan to Pay for Medical Emergencies?

Medical emergencies can arise at any moment, and when you lack the means to pay, you and your family may bear the brunt of that steep debt. Depending on your insurance coverage, your out-of-pocket expenses could reach up to $26,971.

One of your options to pay for medical emergencies is to take out a loan. Many loan types can get you the money you need, but is it a smart choice to opt for a car title loan?

Medical Debt in the United States

Unpaid medical bills are the biggest cause of credit card debt and bankruptcies in the United States. In 2013, 1.7 million people filed for bankruptcy protection, while another 56 million struggled to pay off their debt.

As a result, around 9 million of these Americans took years to resolve their debts. Everyone who struggled had to practice cost-cutting methods such as skimping on basic needs and cutting back on prescription medications, which led to further health complications.

Convenient Car Title Loans

These figures suggest that not all types of loans are simple and convenient. With a car title loan, however, you only need proof of car ownership, income, and residence in Texas to receive your loan, making it a fast and convenient choice.

In terms of repayment, not all car title loan providers are the same. Some providers offer clear percentages and terms to provide you with the right expectations when it’s time to repay your loan. When you get your loans from the company that provides the lowest rates and flexible payment plans, you are spending less and receiving the best value for your money.

In case of medical emergencies and other healthcare-related expenses, you can protect yourself and your family’s finances with a quick and convenient car title loan. You receive the money you need to pay off the expenses and can pay back the loan during your loan term.

VIP Title Loans offers the lowest rates in the state. So, whether you need money for emergencies or just enough cash to hold you over before your next payday, you can count on us for fast and convenient loans!

Visit any of our six locations to get started today.