We all face difficult financial times. It may be an emergency car repair, medical bill, or even a life-changing event that throws us out of our fiscal rhythm and puts us behind on our bills. There are a number of alternatives and ways to raise cash for an emergency. One is the car title loan, but just because you have the ability to take out an auto title loan does not mean that it is the best option for you.

If you have not done so already, one thing you can do is to prepare an emergency plan for when you run into financial troubles. During a time when your finances are not leaving you stressed, make a list of options for when you do find yourself in a time of need. Thinking clearly and doing your homework will help you to come up with a long list of alternatives such as these.

1. Dip into a savings account. You should have an emergency account established for these types of situations. If you don’t, start working on one. If your vehicle needs to be repaired, for example, you can count on your emergency fund. If you cannot, you have to move on to the next item on the list.
2. Use your credit cards. If you have enough remaining balances on your cards to take care of the emergency, you have your solution. What you want to avoid is paying back interest. Get these bills paid off as quickly as possible.
3. Apply for a loan or a line of credit. Depending upon your credit score, this may or may not be an option. If you are a homeowner, a line of credit is much easier to obtain. Just like with credit cards, you need to be mindful of paying back any borrowed money as quickly as possible.
4. Use family or friends. This is always a risky option because borrowing money from friends or family members can destroy relationships. If this is not an option, continue to the next item on the list.
5. Seek out a short-term loan such as a car title loan. You can always try to pawn items at a local pawn shop or even try a payday cash advance. A car title loan from Embassy Loans can provide you with the cash you need very quickly. Using your car title as collateral, you can borrow up to 50 percent of the value of your vehicle (minus anything that is still owed on it). At Embassy Loans, it is possible to receive your cash the same day you apply.

Analyze your situation and determine whether or not a car title loan is right for you. Embassy Loans offers low rates and customized payment plans in an effort to help its customers through a difficult financial time.