Why Having Cash Is Better than Using Credit Cards

The great thing about car title loans is that they get you cash quick, and cash is king when it comes to spending. More and more people are turning to credit cards. However, cash has many benefits over credit cards including universal acceptance and lack of interest.

Universal Use

Cash is a universally accepted form of payment. Although most places accept credit cards some businesses still deal strictly with cash. This includes businesses like small restaurants, mom and pop stores, and service-related businesses. If you do not have any cash on hand, you will not be able to pay your bill, leading to an awkward situation. You may have to call a friend or family member for a quick cash loan or negotiate with the business’ manager. Don’t put yourself in this difficult position. A car title loan will ensure that you always have cash on hand and are prepared to pay in cash-only situations.

No Interest

Using cash instead of credit cards eliminates your consumer debt. The average American is thousands of dollars in debt. Hundreds or even thousands of this is just interest accumulated from credit card use. With credit card rates typically being over 20 percent you can not afford to reduce the spending power of your dollar. Saving up and paying for purchases with cash instead of a credit card eliminates the burden of interest. Get the most value from your dollar by spending it with cash instead of a card. Credit card use has its benefits like accumulating reward points and ease of carry. However, it’s harmful to carry a balance. A balance adds up quickly due to high interest rates and causes you to owe money you do not have.

Spend More Wisely

The psychological aspect of spending cash versus credit is another benefit to securing cash with a car title loan. Think about the feeling you get when paying for something with cash. You physically have to pay for something with cash then and there. Compare this to swiping a credit card. When swiping a card, you don’t have to worry about paying for a purchase on the spot. You can live worry free for days or weeks until you receive your credit card bill. This makes having cash on hand beneficial compared to only having a card. You become a wise, conscious spender who is more reluctant to make spontaneous purchases.

The cash you get from a car title loan comes with many benefits. You are able to have more flexibility and buying power when using cash payments. Additionally, your budgeting skills will improve, and you will use better discretion when making purchases. A car title loan guarantees you have cash on hand to spend freely and without interest. If you’re interested in a car title loan, contact SBR Title Loans today!

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