Bad Credit Title Loans
On Paid Off Cars

Car Title Loans With Bad Credit – Are They Possible

When you have bad credit, the only place to turn for quick cash is with a title loan. Most people with bad credit know they will not be approved for other types of loans. However, it may surprise you that even if your credit score is too low to qualify for other conventional loans, you can still borrow up to $10,000 using your car as collateral.

If you have bad credit and need money fast, this article will explain how to get an auto title loan by tapping into the equity in your vehicle. That way, you can use a car’s title as collateral for a loan! Although many lenders prefer borrowers with good credit, several dozen companies will finance applicants with bad credit, and most of the time, it’s through online title loans.

 

What Do I Need To Get Bad Credit Title Loans

The requirements for a bad-credit title loan are not as strict as those for a regular loan. Although you must submit some paperwork, the requirements are minimal compared to standard unsecured loans and payday loans. You do not have to make a down payment to get approved for a title loan, and no credit checks are conducted on borrowers with bad credit. The title lending company lends money based on your equity in your vehicle and nothing else!

* Proof of Residence – A recent utility bill or bank statement is enough as long as we can verify your identity

* Proof of Vehicle Ownership – Do you own a car or truck that’s licensed and registered in your name? Your lender needs a lien free vehicle title that you will eventually sign over to them.

* Social Security Number – Your nine-digit Social Security number will work.

* Insurance Information – Some lenders require proof of auto insurance on the vehicle used as collateral for coverage of at least $100,000. In addition to the vehicle insurance, the car must be in good condition and match the resale value as described.

 

 

How Fast Can I Get My Money From A Bad Credit Lender

The time it takes to get cash with a bad credit title loan is no different than if you applied with a FICO score of 700 or more. You still need to submit information about your vehicle and show proof that you have a lien free title and can afford the monthly payments. This timeframe to underwrite your application is around 24 hours; some customers can get their funds sent to their bank account in as soon as one business day! You’ll need a bank that offers direct deposit to have the cash sent straight to your account.

 

Is It Possible To Get A Car Title Loan With A Poor Credit History

Yes, these loans are typical for borrowers who won’t qualify for a traditional loan. Even with poor credit, you can still be eligible for a title loan secured by your car’s value, not your credit score! Instead of focusing on missed credit card payments or loan defaults, a bad-credit title loan focuses on the equity, or “collateral,” in a vehicle.

All companies that offer secured loans and title loans with no income verification must be licensed in the states where they conduct business. This means that all the information you provide is subject to federal or state transparency regulations. The available car title loans do not involve any credit check, so your bad credit does not matter!

 

Why Should I Take Out A Title Loan With Poor Credit

There are significant benefits to bad credit title loans. The most crucial factor is that you can’t qualify for most other types of personal loans unless your credit score is above average. The interest rates are not always high since you are putting your car’s title on the line to secure the money, not your good credit standing.

You do not have to make any down payment or give collateral other than your vehicle. Each lender will offer different terms, so getting offers from several companies is best before making a final decision. With our free service, you can quickly obtain bids from local lenders and get the cash you need in no time!

 

Apply With Southeast Title Loans

If you have bad credit, online title loans may be exactly what you are looking for. However, other choices, such as a cash advance, bank loan, or installment loan, are available for those with a FICO score above 650.  If it gets to a point where a poor credit title loan is your best choice, then feel free to contact Southeast Title Loans.  You can apply online or call us at 1-800-308-1905 to get started on your title loan application.