As a city located in one of the wealthiest counties in the United States, some individuals living below the poverty line could find it difficult to live here. You may find yourself struggling with money and look into many different types of loans. Taking out title loans in Columbia, MD is an easy way to get money in this economy. There are people that do not have homes to take out a second mortgage on, and for the people who are renters, among 90% of them live below the poverty rate. Credit ratings for those living in poverty are not optimal and taking out a bank loan is nearly impossible because of it. For as minimal as your car title, you can get your hands on this short-term loan.
Apply for a Title Loan in Columbia, Maryland Today
Title loans in Maryland do not use your actual vehicle for the loan. As long as you have a clear car title and a vehicle nearly paid off, you are eligible for a loan. It is also not difficult to apply, we just need information about the make, model and year, and a way to contact you the best. We also supply you with an estimate on how much you can borrow from one of our lenders after you complete your application. One of our top priorities is providing excellent customer service, we cater to your convenience and give you the best answer to any of the questions or concerns you may have. We will also pinpoint to title loan in your area that will service you.
Bring these following documentations to the loan site if you decide that this is the right loan option for you:
- Photo ID
- Proof of residence
- Car Title
If you need help with obtaining a valid photo identification and/or your car title, you may visit the local MVA:
Address: 6490 Dobbin Rd, Columbia, MD 21045
Phone: (410) 768-7000
Hours: Monday-Friday: 8:30AM-4:30PM
Poverty Rate in Columbia
The cost of living in Columbia contributes to it’s growing poverty rate. The city of Columbia exceeds not only the state of Maryland, but also the National average; specifically in areas such as groceries, housing and transportation. With this in mind, emergency finances such as title loans can make it possible for the working poor to support themselves.
The cost of living in Columbia is 26% higher than the national average
The cost of housing in Columbia is 92% higher than the national average
Residents in Columbia accounts for 63% of the individuals living below poverty level in the entire state, and outnumbers the renting rate of residents below poverty 2.63:1, meaning for one person able to afford living in Columbia, about 3 people cannot.
The higher cost of living, in relation to the cost of housing makes it difficult for the working poor to support themselves. To be considered a “working poor,” an individual must earn at least $10,380 annually. To break out of the statistic, a resident of Howard County, especially Columbia would need to make $31,517 a year to not be considered living in poverty.