Payday Loans and Auto Emergencies

Written by Tom on September 12th, 2011

I once had a job servicing vending machines in various businesses from my truck. I worked hard, sometimes 6 days a week, but somehow the money was spent as fast as I made it. I always had more bills than money. The fact that I had my wife and little girl depending upon me to put a roof over their heads and food on the table only added to the pressure.

Then one day, while I was rushing around on my route, I heard a loud bang, and white smoke started to come out from under the hood. I pulled over, and while I was waiting for the tow truck, I called my boss. I explained my situation to him, that my truck had just “died” and asked him for an advance on my next pay check so I could get it fixed.

He said “No way. I am not a financing company. You need to have a working truck as part of your job. No truck, no job. So get it fixed.”

Now, I didn’t tell him, but I was broke. And not only that, the one credit card I had was maxed out and I was late on the payments.

So, as I was sitting there, waiting for the tow truck to show up, thinking about the possibility of losing my job because my truck wasn’t working, and then thinking about what my wife and her mother would say when they heard I had lost another job, I felt terrible. I didn’t know what to do.

I called my buddy John. He told me about something called payday loans. Turns out, payday loans are designed just for people in my situation. I was honest with him and told him my credit was shot and that I was broke. He said, “no problem”. The payday loan lenders would approve me just as long as I was steadily employed, which, just at that moment I still was.

He told me he had used a payday loan to get his car (man, his car is old and a piece of junk) fixed back when the same thing happened to him. He said he had the money in his account within a couple of hours.

The tow truck finally shows up, but now I’m feeling a lot better since I can see a way to get my truck fixed and back on the road immediately.

I get my truck fixed, I use the payday loan to pay the garage mechanic and I’m back to work the same day. Lucky for me, John knew about using payday loans for car emergencies.

 

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Non-Owner Auto Insurance

Written by Tom on September 8th, 2011

For drivers who do a lot of traveling around the country on business, the cost of renting a car at each new city can quickly get expensive. Since most insurance policies don’t cover rental vehicles, drivers must get special insurance to cover their rental car. For drivers who don’t have a business expense account, or who have to pay for renting a car out of pocket, the cost of insuring your rental car through the rental agency adds up to make your car rental one of the most expensive parts of traveling. Drivers who rent a lot of cars and who want to save money should consider taking out a non-owner auto insurance policy through their automotive insurance company. Drivers who use company cars, or who frequently borrow someone else’s car, should also want to consider getting a non-owners insurance policy.

Non-owner policies provide similar coverage to what you receive through the rental agency but at a significantly reduced rate. Depending on the insurance offered by the rental agency, you may only be covered for the damage you cause to another person’s vehicle, and not covered for the full cost of repairing the damage done to the rental. Non-owner auto insurance polices fully protects drivers should they get into an accident when driving a rented vehicle, and eliminates the concern of a driver not having enough coverage.

Drivers who use a company provided vehicle should also consider getting a non-owner auto insurance quote to determine if they can save their company some additional money. Adding non-owner insurance coverage to your company’s existing coverage would also ensure that you were protected in case your company’s insurance wouldn’t cover the full cost of an accident.

Drivers who don’t own their own vehicles, but routinely borrow a family member, friend or significant other’s car should also seek to obtain a non-driver policy. The insurance of the person that owns the car only covers the vehicle from damage when they are in the vehicle. If you get into an accident when driving their car alone, their insurance would not pay to have the car repaired, or cover any damage you may have caused to another vehicle. To ensure your financial and legal protection, you need to have your own insurance policy when you drive someone else’s car.

Non-owner polices are offered by every major insurance company, and you can find a quote online in as little as 15 minutes.

 

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