Car Accident Loan

When you or a loved one has been injured in an accident, you’re likely thinking about health and safety first, not your bank account. A car accident can be devastating, but after the initial impact, the financial impact can leave you and your family struggling to overcome the accident.

There are also other expenses that you may not have considered yet, like lost wages from your job or the growing costs of your medical care. You may have heard about car accident loans to help people in your situation, but you want to make sure you’re informed and make the best decision.

At Money First Funding, we offer the help you need when you’re injured and working on your car accident claim. Unsure if this type of pre-settlement funding makes sense for your situation? Here’s what to know about accident loans and how a pre-settlement funding company can help you overcome your injuries.

What is a Car Accident Loan?

When you’re injured in a car accident, if you are lucky enough to avoid more serious injuries, you will still likely need time off from work so that you can heal and rest. If your injuries are severe, you may be unable to return to work at all, which means losing income and having to find a way to pay your debt.

That’s where we can assist. We offer accident loans that help you recover completely, without worrying about your lawsuit. A car accident loan is a cash advance that allows you to use the funds for anything related to the accident, including:

Medical expenses
Vehicle repairs
Other replacement costs
Rental expenses
Everyday expenses while unable to work

As an auto accident victim, you may have to pay thousands or even tens of thousands of dollars in medical bills alone. This can be especially difficult if you don’t have health insurance and don’t have the money to pay for repairs or basic living necessities like rent and food. In these situations, pre-settlement funding can provide the support you need.

We make applying and getting approved for a car accident loan as simple and quick as possible. Your loan amount is based on the money you’re expected to receive when your case is resolved and the value of your car after the collision. No credit check is required. While the outcome of your case isn’t guaranteed, you only pay from your compensation, not your pocket.

Why So Many People Take Out a Car Accident Loan

There are many benefits to securing a car accident loan after a wreck. In some cases, using a car accident loan to pay off certain bills related to injuries from the crash can mean peace of mind as your medical bills pile up. The loan can cover these costs in the meantime, protecting you from debt collectors and more expenses.

In addition to medical treatment, if your car was damaged in the accident, you’ll need to pay for repairs before you can drive it again. Even if your insurance pays for the damage, there’s a good chance that your deductible will apply and you’ll have to pay out of pocket until the deductible is met.

If you have just been in a car accident and want to rent a car, there is a good chance that your insurance company will help you with the cost. But what if your insurance company is denying your claim? Or what if you have no insurance at all?

If you’re facing these issues, a pre-settlement loan can provide the money you need after a car crash. This is vital if you drive for a living. For example, if you work as a courier or driver, your very livelihood depends on staying mobile, and taking out a car accident loan for vehicle repairs or a rental means you can keep your job.

Whatever your situation, car accidents happen every day, and they can be expensive. That is why we provide car accident loans with low rates and fast turn-around times to our clients for people like you. You don’t have to struggle alone with your accident recovery.

Does a Car Accident Loan Make Sense in Your Situation?

Applying for a car accident loan makes sense when there’s a significant gap between what you have in your bank account, the expenses you’re facing, and what your case is likely to settle for.

You may have already received an offer from the at-fault driver’s insurance company, but it’s not enough to cover all your damages. When this happens, it makes sense to apply for a pre-settlement loan as soon as possible. The at-fault party may avoid paying out more for your injuries, which means you may be in court for some time while solving this issue.

You can also get the car accident loan application process underway if you are waiting to find out who will be paying for your accident and when you’ll receive the funds you’re due. In some cases, this may fall on the at-fault driver, while in others, the insurers are responsible for paying out. This can be frustrating because the process can take several weeks or months.

Maybe you need money right now, and you don’t have access to credit cards or savings. When you have exhausted other alternatives and do not know where to turn, it is reassuring to know that pre-settlement funding is available. Here are some examples of when taking advantage of our accident loans makes sense.

You Need Help with Vehicle Repair Costs

When you are filing an insurance claim, it is important to know what your policy covers and what it does not. Many car accident victims are dismayed to learn that their insurance policy does not cover everything that has been damaged and that their insurer won’t pay out right away.

For instance, if you have comprehensive coverage, your insurer will pay for windshield repairs or replacement, especially if the damage was caused by vandalism or theft. While damage related to tires is typically covered under comprehensive coverage, they are generally considered a wear-and-tear item and they may claim you’ll have to replace them yourself.

Even if your tires are not worn out, you may need new ones if you have wheel damage that leads to tire failure later. In these cases, you may think of it as a car damage loan because, in essence, a car accident loan will get you the new tires or other repairs without a hassle.

If your vehicle is damaged beyond repair, pre-settlement funding can even be used to help you buy or rent another car. That helps you get back on the road as soon as possible.

Your Medical Bills Exceed Your Out-of-Pocket Maximum

You may have insurance and are responsible for paying your medical bills, but those bills may have exceeded your deductible or out-of-pocket maximum. When this happens, you may need money to cover the costs of these expenses. Without a car accident loan on the way, you may have to wait until your case is resolved before receiving any money.

After receiving car accident loan approval, however, you can receive money right away. You can use it to pay off these bills and seek reimbursement later when your case is settled or goes to trial.

You Have Medical Bills That Need to Be Paid Immediately

If you have been in an accident involving serious injuries, you may need emergency medical treatment right away. If this is the case, then a car accident loan can help cover these expenses without having to wait for an insurance company payout or for your case to be resolved in court.

In some cases, a car accident loan can even be life-saving, especially in cases where delaying medical treatment could lead to more physical problems later on. For instance, in the case of a head injury or concussion, time is of the essence. Having the funds you need to cover the costs of co-pays and other medical expenses can give you peace of mind.

Disability Payments Don’t Cover Your Lost Wages

You may want to get a car accident loan after a serious accident with injuries if you’re unable to work. You may receive Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI), but these payments may not cover the value of your former wages.

Social Security Disability Insurance, or SSDI, provides benefits to individuals who are disabled and unable to work. If you qualify for SSDI, you will get a check from the Social Security Administration monthly. The amount of your check depends on how much money you made before becoming disabled and how long you worked in your lifetime.

Supplemental Security Income, or SSI, is another type of government assistance that provides financial support for people who have limited resources and income. People who qualify for SSI include those who are 60 years old or older, blind, or disabled.

When you’re hurt, you may be paying more than your previous expenses. You may have more medical costs, household expenses, and other worries. If your SSI or SSDI doesn’t cover as much as your wages, you may find yourself struggling to pay all your bills despite these payments.

If you secure pre-settlement funding from us, it will bridge the gap between the money that you have coming to you and your immediate financial needs. That can make a big difference when you’re hurt and need funds to cover the expenses disability payments don’t cover.

How to Apply for a Car Accident Loan

Anytime you are involved in an auto accident, you may be entitled to financial compensation, but your recovery is not automatic. It may take time to get the funds you need from your settlement or lawsuit, and in the meantime, you may need a loan. But how do you get that loan?

Insurance companies may try to force you into accepting less money than you need to pay for your physicians’ visits, auto repairs, and lost wages. A car accident loan can provide money for your basic expenses so you can be patient through the process and collect every penny they owe you.

It doesn’t take long to get approval and get the cash you need that puts you in the driver’s seat.

While it’s not mandatory to consult with a lawyer before applying, showing you have a strong claim with a lawyer’s guidance can help you get approved for a loan. Your attorney can also help you evaluate how much your case is worth and if a car accident loan is in order.

Car accident loan applications are similar to other types of loans, but you may also want to have a lawyer help you with the application process. Attorneys know how to deal with these types of loan applications and can help you complete them correctly and avoid mistakes that could affect your ability to receive financial assistance.

When you and your lawyer are ready to apply, the application process is fast and simple. You should be able to find out right away whether or not your claim is eligible for funding. Check out the steps below to get started on your application:

Give us a call or fill out an application online
We will review your application and will usually contact you within twenty-four hours if we think we can help with your claim
We send over a contract that outlines our terms and conditions
You sign the contract and return it to us
You will be given a loan that you can use until your case is over or until you receive your settlement check

The amount of money you will be offered varies based on the strength of your case and how much coverage you are likely to recover. This coverage may come from the at-fault party’s insurance company or any other sources available, like uninsured motorist coverage.

Once you’ve taken these steps, you should have the funds you need for your recovery, funds you only pay back once your case is settled. There is no need to stress over paying your bills when pre-settlement funding is available to you. We have helped many people just like you and look forward to offering our services when you’re hurt in a car accident.

Contact Us to Learn More About a Car Accident Loan

A car accident can leave you with a lot of unexpected expenses. If you’ve been injured or your car is damaged, you may need to get repairs or replacement parts before you can drive again. You may also need to take time off work to recover from your injuries.

Even if you’re not at fault for the accident, you could have to pay for medical bills and other expenses out of pocket until your insurance company pays up. If the other driver was at fault, you may be dealing with a long wait before your insurance company reimburses you. In this scenario, pre-settlement funding will be a huge relief.

Fortunately, we provide you with a financial solution so that you don’t needlessly suffer while waiting for reimbursement from the insurance company. We offer competitive rates so you can borrow money affordably when times are tough. You also don’t have to worry about repayment, as your repayment simply comes from your compensation after the lawsuit is over.

We understand that you are under stress, so we work hard to provide hassle-free car accident loan applications and approvals to all our clients. Complete our application process online or call Money First Funding at 702-623-3333. We will be ready to consider your application as soon as you apply on our website or over the phone.