Car Title Loans Can Help New Californians with Bad Credit

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CNN’s May 24th list of America’s top big, booming cities included Los Angeles and San Diego because of their large influx of new residents seeking out fresh opportunities in the wake of the recession. Newcomers with bad credit can turn to Los Angeles Car Title Loans and San Diego Car Title Loans as a means to get a financial boost, and even improve their credit rating in the process.

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Using information from the U.S. Census Bureau, Los Angeles and San Diego made CNN’s May 24th list of the top 10 big, booming cities in the U.S. alongside New York, Phoenix, and a slew of Texan cities.

With its solid hold on technology, aerospace, fashion, and entertainment industries, Los Angeles has grown to be one of the most desirable places to live. The usual wave of new residents decreased significantly during the last decade, but between July of 2011 and July 2012, the number of new L.A. residents skyrocketed by more than three times the previous rate.

Journalist Les Christie also attributes L.A.’s success of attracting new residents to the many colleges and universities within. Not only do schools like the University of California, Los Angeles, and Loyola Marymount contribute to the local economy, they also help bring in a consistent flow of new students from out of state who often choose to take up permanent residence there after they graduate.

Although very different from L.A., San Diego manages to attract a steady stream of new residents who either wish to take advantage of the myriad of jobs in defense contracting and cargo shipping, or enjoy the warm weather and close proximity to the ocean in their retirement.

Doug Kuczynski, a finance expert with the Demographic Research Unit of California, brought up how housing developers are changing their building plans to accommodate the huge influx of newcomers. Kuczynski said, “More than 82% of new home being built in San Diego are in multi-family buildings.” As a result, the city’s population density is significantly increasing.

Whether it is to seek out the warm climate or the attractive job opportunities, new residents rush to Los Angeles and San Diego to leave the past behind them and look forward. Many of these newcomers have suffered financially during the recession and are just now pulling out of it. Numerous people have bad credit racked up in their credit reports and cannot take out traditional bank loans when they need an extra financial boost to pay for moving trucks and other traveling expenses. Many cannot even rent an apartment because the bad credit acts like a black “X” on their application.

Fortunately, there are ways to take out a loan and build up good credit, even with poor credit on record— such as pink slip loans. Los Angeles Car Title Loans and San Diego Car Title Loans offer services in which Californians can use their car title as a way to secure a loan even if they have bad credit. While paying off the loan, borrowers can use this loan as a way to build up good credit for the future as well.

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Laura Janota
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