Modern America is a tough place to live in, much like many other places in the rest of the world. Downgrading to a lesser vehicle may not have the same reliability, but it would still get you from point A to B and give you a little extra money in your pocket. You don’t always have to resort to this. Look at some logical and feasible alternatives to selling your vehicle.
Second or Third Job
There are several ways to get back on track financially, even if working your fingers to the bone and breaking your back all day isn’t paying off. Here are a few jobs that could throw a few hundred dollars in your back account every month:
Whether you’re current occupation is in a restaurant or you’ve waited tables in the past, catering to guests as a waiter or bartender is one of the most significant occupations in the United States for time and volume of workload versus payout, in that you could possibly make the most money while working only a short period of time.
Even though retail and department stores usually have more employees, their longer hours tend to give restaurants and bars the edge in the most sought after second job. However, it is widely known that several stores tend to offer employment during the holidays from November to January. This trial run could also turn into a full-time position.
Not everyone is artistic in nature, but it is possible to gain a few extra dollars on the side by doing some sort of freelance work. If you’re a writer, use technical writer or blog writing to practice your craft in a different way. If you’re a photographer, try to stay within the bounds of what a client wants versus thinking outside the box. If you’re not as artistic, see what you can find—mowing lawns, being a lifeguard, training a person at a gym—the possibilities could be endless.
Auto (Car) Title Loan
While taking out another loan might seem counterintuitive—especially if you’re still paying off another—a car title loan or auto title loan could grant you the funding that you need while still allowing you the opportunity to use your vehicle!
Auto title loans, like the ones with leading alternative lender LoanMart, are based around the equity of a person’s drivable motor vehicle and their ability to repay the loan. In this scenario, LoanMart would take over the title of your vehicle as the lien holder as a form of collateral1. This may sound a tad scary, but it honestly couldn’t be safer; auto title loans are short-term, low-risk loans. Terms and payment periods are usually flexible and the whole loan process of it all is expedited, unlike traditional lenders like a bank or credit union. In some instances, you may even obtain your money in one business day3. A lender like LoanMart will even allow a customer access to their vehicle for the duration of their payment periods.
A loan may not be your first choice, but one such as this could help you out of a tight spot.
Selling off your vehicle may not be the best solution to your money problems, especially if you’re not obtaining anything in return, but what most certainly will help you is to clear out space and get rid of some sparingly used items that could potentially bring in a few dollars. By no means am I telling you to sell off an antique item that your grandmother gave you, or a sentimental teddy bear from your birth, but rather things that could be reobtained if you should ever need it again. Video games, appliances, televisions and computers. Maybe even some clothes could be traded in for a few dollars. The old fashion way of doing this is the yard sale, but sites like Craigslist and apps like Let-Go can give you an extra angle to sell your old items for the extra cash you need.
At first it may seem like a good idea to sell your vehicle away, but think about everything that your car can supply you with, all in the form of transportation unit. Groceries. The Gym. Weekend Getaways. Job Interviews. Dates. Extra Storage. Try out one of these alternatives and hopefully you get back on the right track. Good Luck!