Borrowing money isn’t something you should ever take lightly. After all, for every dollar you borrow right now, you’ll have to spend another later when you pay the money back. Too many people forget about this when they qualify for a loan, which sometimes can be very risky. You should always have some idea of how you’re going to make good on a debt before you incur it. That said, there are some quick and easy ways to borrow money out there if you’re sure that you’ll be able to get it all back in time, and if you ever happen to be stuck between a rock and a hard place then the right kind of loan can really help. One potentially effective strategy is to take out a car title loan.

Have you heard of car title loans before? If you haven’t, here’s the basic idea: Firstly, you fill out an application with a car title loan company. Let’s say you choose Embassy Loans, one of the bigger players in this particular market. Fine—you’ve filled out your application and provided a bit of supporting documentation to prove that you’re the actual owner of your vehicle. When you’re approved (Embassy normally does it in a few days), you’ll hand over the title to your car, and you’ll get a certain amount of money in return. When you pay the loan back on time, you get the title back. Simple, right?

Hang on, though. What happens if you don’t pay the loan back in time? Well, that’s where things get tricky. Technically, if you don’t pay a title loan back in time, then the loan company can take possession of your vehicle. That’s not so good. Without a vehicle, going to work or getting a job is going to be a lot harder, and that’s only going to make your debt problem worse. So, what’s the solution? Easy: just make entirely sure that you can pay that loan back in time before you put in your application. If you know you’ll have the money you need before the loan is due, car title loans can be an excellent way to help tide you over during temporary periods of financial stress (like holidays or special occasions). Just be smart about it, and you should have absolutely no problem using this highly effective borrowing strategy to your advantage.