El Paso Texas Economic Updates: Economy Predicted to Grow Slower in 2022 Compared to Previous Year
July 20, 2022 at 21:51
Texas Title Loans (915) 223-4320, a financial services company in El Paso, TX, with website at https://texastitleloans.net/locations/el-paso-tx-79912/, has noted with favor the report from economists at the University of Texas at El Paso that the city’s economy is expected to grow a bit slower in 2022 compared to 2021, and then slow down even further in 2023. A representative for Texas Title Loans says, “While we wish the economy would grow faster, it is better than a complete slowdown or cash.” However, there are still threats to the economy such as the war in Ukraine and the unemployment rate in the city is predicted to continue to be above the pre-pandemic levels. Furthermore, the per capita or average personal income in El Paso is predicted to go down to $39,992 because the COVID-linked federal stimulus payments are due to end.
It is reasonable to expect that many people may continue to find themselves in a situation where they are unable to pay certain bills. That is why they are offering financial assistance to those people and families that require emergency cash, as long as they have a vehicle. One of the primary reasons that people are finding themselves in such a financial situation is the impact of the pandemic that has caused many people to become unemployed. While some businesses have reopened, not all of them were lucky enough to get back on their feet.
Life has many unexpected costs that can catch an individual or family off guard, which is why they are offering a way for people to get some emergency cash when there’s a need for it, for whatever reason. This kind of financial help is one of the fastest ways of getting much needed cash for paying off unexpected medical bills and the like. The financial experts at Texas Title Loans will work with the customer in creating a customized plan but there is no need to wait for a long time and submit a lot of paperwork, such as with a traditional bank.
To apply for title loans El Paso residents will just need to go through three simple steps. The first step is to fill out an online application form to determine if they can qualify. Second, the applicant will submit a few documents, including: proof of identity, proof of income, the car title and car insurance, and proof of residency. And third, Texas Title Loans will then release the requested amount to the customer.
It should be noted that while the resale value will be the basis of the amount that can be provided, they have a maximum limit of $50,000. The money can be received in as little as 24 hours. Payment terms may be as long as 36 months and they don’t charge prepay penalties.
It is important to note that getting approved for the financial assistance offered will not require a good credit score. The approval will be based, not on the applicant’s credit history, but on the market value of the car or vehicle. It is also necessary that there is no lien attached to the car title and that it is owned by the applicant. The capacity of the borrower to make the payments will also be considered. Meanwhile, they also offer low and competitive rates. The interest rate will be lowered each month, once a monthly payment has been made. It is the vehicle title that will serve as the collateral, which is why the title will have to be submitted and they will hold on to it but will return it as soon as all payments have been made.
Those who are interested in learning more about the financial services available from Texas Title Loans (915) 223-4320 can check out their website, or contact them through the phone or by email. They can be contacted 24 hours a day, at any day of the week. Those who would like to know the location of their offices can go here to visit their Google Maps page.
For more information about Texas Title Loans (915) 223-4320, contact the company here:
Texas Title Loans (915) 223-4320
El Paso, Texas