Short on Funds for Your College Textbooks? Use a Car Title Loan

College Books As everyone knows, college tuition costs continue to rise. While scholarships and financial aid can help to offset tuition and room and board, there are still many other costs that the typical college student incurs. One of those is textbooks.


A textbook for a college chemistry course can cost upwards of $300, and that is just one class! With a normal load of 15 credit hours (the equivalent of five classes) per semester, a college student can expect to pay $1,000 or more for textbooks and school supplies. When you are short on funds at the beginning of a semester, there are a few options to use to obtain the cash. One is a car title loan.


The Basics of a Car Title Loan


Car owners can use their vehicle as collateral in exchange for a loan from a title loan company such as Embassy Loans. Most personal loans are unsecured, and borrowers need to have a stellar credit history in order to borrow money. Car title loans are much different in that borrowers need only a vehicle and proof of ownership.


The Details


Lenders like Embassy Loans would prefer that the vehicle is completely paid for, but will allow those owners who still have payments to borrow if there is enough equity. The process for obtaining the loan is very easy. A potential borrower fills out an application either in person or online. The application takes just a few minutes to finish. Once complete, Embassy Loans does require a few documents to begin processing the loan.


Borrowers will need to submit proof of their identity and proof of where they live. The title to the vehicle must also be presented and verified. Embassy Loans will check to make sure that the vehicle identification number on the title matches that of the car or truck. Once verified, the vehicle is assessed for its value and then the loan agreement is drawn up. The entire process is quick and takes normally an hour to complete.


Fast Money to Pay for Your Books


Within a day or two, you can have access to the money you need to pay for your college textbooks. Because a car title loan is not dependent upon a borrower’s credit history, there is no need for a credit check. Borrowers who have had difficulty in the past will learn that a car title loan is much easier to obtain than a conventional loan. With the college textbooks paid for, borrowers can then work to pay off their car title loan during the semester.