It is not easy to live in this world nowadays, there are so many things to consider, to do, to work through, starting with easy question, like what to eat today, down to the truly important questions regarding career choices, which school to attend, who to marry, just to stay within the First world problems. Most of the decisions are being forced upon us by financial considerations, because everything we do and want to do costs money. Since that everything on this world is revolving around money, there never seems to be enough of it, in order to procure everything apparently required for a proper and satisfactory life.
This financial pressure does get the best of people, making them sometimes choose poorly and make decisions that lead them towards financial troubles, which invariably lead to bad credit ratings. Once there, most people are unable to simply regroup and start rebuilding, but tumble deeper and deeper into the money pit and end up having no resources where to get additional money from, but means such as logbook loans and payday loans.
Both of these were conceived for people with bad credit ratings and both of them are very easy to get and very hard to pay off. Logbook loan, for instance, comes with APR rates that are through the roof and people wind up paying back, if they manage to do it at all, multiple times the sum they borrowed. Particularly in case of the logbook loan, there lies a logical question: Why do you opt for a loan on your vehicle, which is overly expensive, will almost certainly cost you your vehicle and will give you a pittance of cash, when compared to what your car is worth?
Why not simply sell the car, get at least twice as much money and either purchase a less expensive vehicle or simply walk? You still get the money you think you need desperately, but you also get more than that, in cash and you do not have to give it back. You also learn to walk again and fend off, or reduce the chance of being overweight, get your daily exercise, spend a little time outside, in fresh air. You can always consolidate your debts and at some point purchase another vehicle, maybe a bicycle and get even more exercise.
Unfortunately, if you were able to think sensitive thoughts and plan in advance, you would not have bad credit in the first place. Besides, you probably are unable or rather unwilling to wait the extra time necessary to sell your vehicle and then purchase a cheaper, functional one. In this manner, you can have your cash within 24 hours and still drive your car, for as long as you keep the necessary payments going. As usual, you will pick the wrong choice. Too bad that after this step, there is only rock bottom left over.