All of us face financial problems, and unexpected expenses can arise at any point in our lives. When anything like that happens, it’s good to have money available so that you can solve your problems quickly with as little hassle as possible. One of the best solutions is to get a car title loan. A question might arise as to why you should go for this option? The answer is simple, it is quick, safe, and you can pay it off as quickly as possible without any penalties. All you require is your vehicle title and a few minutes to go through the application process.
If qualified, within thirty minutes, you can receive approval for the loan and have the cash in your hand while you keep and drive your car. If you are capable of repaying your loan, you don’t have to worry if you have bad credit since this won’t prevent you from getting a car title loan from to meet your immediate financial needs.
What do you mean by Car Title Loans?
Car Title Loans are secured loans because the clear title on your vehicle is used as collateral. These loans are specially designed for people who find it difficult to get a loan anywhere, especially the ones with bad credit.
Is it possible for people with bad credit to get a car title loan?
Yes! You don’t have to worry about your credit score because it is not an essential factor in the approval of your loan application.
It means anyone can qualify for a collateral loan even if their credit history is not so good.
Your car is used as a guarantee for the loan: Your vehicle acts as collateral, which means that this type of loan is secured.
- Your car is your asset, so that is something valuable that functions as collateral for the loan.
- This kind of funding is more comfortable to obtain.
- Bad credit is not essential in car title loans. Though your poor score may present a risk, the value of your car and ability to repay the loan are the primary basis for consideration in receiving a loan for it.
There are no obligations, and you get a free quote with a car title loan:
- The process for a loan application is free, and there are no commitments or prepayment penalties
- There are high chances of loan approval as compared to other traditional loans
- The loan application procedure is quick and easy. It takes only a few minutes to apply, and you can get your money quickly.
Applying for a loan
First, you need to complete a loan application. Also, you’ll need to present the clear title to your car, a valid ID, and proof of insurance, a duplicate set of car keys to complete the transaction.
How much money can you get with a car title loan?
The amount you can get for your vehicle depends on various factors- the current condition of your car, i.e. age, mileage, year, model and your ability to repay the loan amount. The better the status of your vehicle, the higher the amount you receive.
There are some key benefits to car title loans:
- Get quick cash with an easy process
One of the most significant benefits of these loans is that they are fast and convenient. The process is so easy and quick that it can be completed within minutes. After you submit the form, you can receive the cash on the same day.
- Credit doesn’t matter
These loans allow people to get cash who don’t have good credit. So, it doesn’t really matter whether you have good credit or no credit at all.
- If You Have A Vehicle You Can Qualify
Whether you have a car, motorcycle, SUV or truck, you can qualify for such loans. These loans are not based on your credit. They are based on collateral by using your vehicle’s title.
- You Can Still Use Your Car
You can still drive your car while applying for this loan. You don’t have to worry about handing over your vehicle to the lender.
- Convenient Repayment Options
They offer quick and easy repayment options.
Life can get hard at times. If you are going through financial hardship, a car title loan can help you get back on your feet despite your bad credit and you can get rid of your financial burden and live a stress-free life.