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Apps that Can Help with Car Loan Repayment

Loans have been a lifesaver to countless people who have been financially affected by the recent Coronavirus pandemic. With people losing their jobs, and those who get sick needing to pay exorbitant hospital bills, loans have allowed people to mitigate disaster. Although they do come with a lot of responsibility, many of us can manage paying back the loan over time. As a provider of car title loans in Southgate CA, we’ve seen the whole spectrum of people’s ability to keep up with car loan repayment. Some people have a knack for it, and can set up budgets and automatic payments that allow them to not have to think about it. Others, however, require some assistance in managing their finances to keep up with loan repayments.

To help both our customers and any visitors to our website, here is an overview of the different apps which can help with loan repayments.

Which Kinds of Apps Help?

There are numerous finance-related apps which can help with all manner of situations, including those provided by banks to manage your accounts online. Although these online banking apps are useful in managing money, they aren’t necessary. Instead, we will be considering two specific kinds of finance apps: budgeting apps, and debt payment apps.

Budgeting Apps

These are applications which allow you to look at how much money you have coming in, and plan what you’re going to do with that money. While this functions the same as having a budget on paper, the main difference is the variety of features which can enhance your ability to budget. Such as:

  • Budgeting education – articles, videos, and guides on how to create a feasible budget
  • Sync with bank account – this allows transactions to be immediately taken account of in the budget to give you real-time updates
  • Access to relevant calculators – loan repayment and home affordability calculators
  • Automatically categorizes your spending

On top of these features, if you’re going to be syncing your bank account with the app you should also ensure that the app utilizes a high level of security.

Debt Repayment Apps

As the name suggests, debt repayment apps help you to track and manage your repayments on any and all debts you may have. These can be relevant to those who struggle to remember payments, or those who have accumulated a large amount of debt. The features which make these apps useful are:

  • Strategy builders – tools to help you build a debt repayment strategy
  • Reminders and alarms – ensure you don’t miss any repayments
  • Resources – articles and videos with advice on debt repayment
  • Test ‘what if’ scenarios – allows you to see how different spending habits can help you make repayments

As with budgeting apps, debt repayment apps should come with a high level of security, especially if you’re inputting details about your debts.

Hand in Hand

While both kinds of apps have features which cross over, utilizing both can help you to understand your spending habits and keep on top of the debt. This can help you to ensure you meet every expected payment, and don’t incur any late fees or penalties.

As apps can differ between devices, we will treat Android and Apple apps separately.

Free vs Paid

On looking at the app store, whether Android or Apple, one will see the whole spectrum of financial app pricing from free apps to those which require a monthly subscription. Depending on your financial situation, you may wish to start with a free app. These will often include most of the features of a typical app, but also host a lot of ads which can be distracting and annoying. Paid apps however will usually come with more extensive features, and those with monthly subscription come with a variety of relevant resources.

As a provider of car title loans in Southgate CA, we’ve seen people successfully use both kinds of app to make their repayments and manage their money. If you’re currently struggling financially, but wish to utilize the app to its fullest, you may consider doing an extensive trial period.

The Apps We Recommend

As previously mentioned there are a seemingly infinite number of finance-related apps on both the Apple and Android app store.

Budgeting Apps

For budgets, we recommend the following:

  • You Need A Budget (YNAB) – at $84/per year, YNAB is considered the best paid budgeting app and comes with a huge variety of features. Android / Apple.
  • Simplifi by Quicken – at $36/per year or $3.99 a month, Simplifi offers all necessary budgeting tools at a more affordable rate than YNAB. Android / Apple.
  • Mint – as it’s free, Mint is the best option for those who want to start budgeting without investing in a paid app. Android / Apple.

Both of these apps come with a 30 (+ / -) day trial to get you started.

Debt Repayment Apps

For debt repayment, we recommend these apps:

  • Debt Payoff Planner – free limited version or $24 for 2 years of the pro version, this app is both affordable and useful in a variety of situations. Android / Apple.
  • Debt Snowball Calculator – free app with in-app purchases, Debt Snowball Calculator has plenty of testimonial to it’s efficacy. Only available on the Android store.

Car Loan Repayment: Fast Auto Loans in LA

Now that you have the apps to help you manage your repayments, you may feel more comfortable about taking out a loan for the things you need. If you’re looking for a car title loan in Southgate CA look no further than Quick Title Loans. Our no hassle loans have helped many people! Get in touch today for more information.