For many people, a bad credit score is the financial boogeyman that hides under their beds and haunts their dreams, then follows them to the bank and slaps the cash out of their hands when they try to take out a loan. A questionable financial past can come back to haunt a person’s present situation, and when an emergency gets thrown into the mix, life – like a bad credit score – can suddenly feel like a boogeyman-riddled nightmare.
So where can borrowers who have low credit scores find a lender who can give them access to the money they need in an emergency?
Title loans are a financial solution that many borrowers with bad credit or no credit have been utilizing for years. Title loans equip borrowers with the loan they need to deal with surprises that require financial attention right away, regardless of their credit score.
What sets title loans apart from traditional financial institutions is that no credit check is required. Bank loans only work for the borrowers who have virtually spotless credit histories. But for everyone else, getting approved for a loan is stressful, time-consuming, and usually fruitless.
Applying for a title loan online, however, requires only a few pieces of information on the part of the borrower, and takes a fraction of the time needed to apply for a loan from a traditional lending institution. Also, most of the process can be handled virtually; borrowers can apply online, from a smart phone, or over the phone.
Title loans are ideal for those with bad credit or no credit. Since vehicle equity is used as collateral, there is no credit check necessary. The absence of this measure eliminates a lot of the stress that can go along with taking out a loan.
In order to determine how much money borrowers qualify for, title lenders request specific vehicle information, including the make, model, year, and mileage, and then provide a free quote based on the calculated value of the car.
There are lenders all over the country who provide various types of title loans, including:
So no matter where you live, you are eligible for a title loan on any of these vehicles as long as you have full ownership.
Having an auto is vital, which is why title lenders allow their borrowers to keep and continue using their car during the time they pay off their loan. Doing so enables individuals to continue on with their everyday life, uninterrupted.
Interest rates, loan terms, and payment plans vary from lender to lender. No single loan is a one-size-fits-all solution, so lenders cater to their customers’ individual needs. Depending on the region, many lenders offer plans that include at least one of the following:
No matter the circumstances, title lenders are willing to accommodate the borrower’s needs.
In a pinch, there is simply no time to dwell on a cursed credit history, or try to rebuild it. Emergencies, large and small, happen to everyone and require immediate action. If you’re facing a financial issue that requires money now, check out online title loans. They are a safe, instant alternative for the problems that simply cannot wait.
By working with our lenders, you could end up saving up to 20% on your repayment, and eliminate the risk of being taken advantage of.
Get A Free Quote! - Find out how much you can get before going to a store.