No Credit Check Title Loans
If you own a car and need fast cash, you can consider getting a title loan. With a title loan, you’ll receive a lump sum of money in exchange for your vehicle title. Let’s take a closer look at title loans and whether you can get one with no credit check so you can decide if this loan option is right for you.
How title loans work
A title loan is a secured loan that uses your car as collateral. As long as you own your car, you can take one out. Once you get approved and give the lender your title, you’ll receive cash, which will be based on 25% to 50% of the value of your car. You’ll be able to drive your vehicle as you pay back your title loan.
Can I get a title loan with no credit check?
Many lenders who offer car title loans will check your credit during the approval decision process to determine whether they’d like to lend you money. So, it can be difficult to get a title loan with no credit check.
Can I get a title loan with poor credit?
Fortunately, many lenders have lenient credit score requirements for borrowers who apply for title loans. Oftentimes, they’ll look beyond your credit and consider additional factors, like your income and employment status, when deciding whether to approve you. This means you can still get a title loan with bad credit or fair credit.
Benefits of title loans with or without credit checks
There are many perks of title loans with or without credit checks, including:
In many cases, you can apply for a title loan online from the comfort of your own home or office. Upon approval, you may have to visit a lender in person to get your vehicle appraised.
Once you apply for a title loan, you can expect to get approved instantly or within 24 hours, depending on the lender. You won’t have to wait weeks or months to get the funds you need.
Get a larger loan amount
Compared to other types of loans, title loans offer large loan amounts of thousands or even tens of thousands of dollars. You may be able to borrow anywhere between 25% to 50% of your car’s value.
Borrowers can work with the lender to determine a payment plan that works well for their budget. You may be able to get fixed monthly payments over an agreed upon term.
Keep driving your car as you repay a title loan
You’ll be able to continue driving your vehicle as you pay back your title loan. This is great news if you rely on your car to get around.
How to get a title loan with or without a credit check
To get a title loan with or without a credit check, follow these steps:
1. Compare lenders and loan options
There are many lenders who offer title loans. That’s why it’s a good idea to shop around and explore all your options. When you do so, compare the rates, terms, and fees of each.
2. Gather all necessary documents
To apply for a title loan, you’ll need several documents on hand. These include a government-issued ID, like your driver’s license and passport, as well as your paystubs or other proof of income and your vehicle title.
3. Fill out and submit an application
Next, visit the lender’s website and complete the application form. Be prepared to share basic information about yourself, your finances, and your vehicle.
4. Wait for approval
Once the lender reviews your application, they’ll let you know whether you’ve been approved. This process is usually fast or even instant, depending on the lender.
5. Receive the funds you need
Lastly, get your car appraised to receive cash based on its value. You may receive the funds from the lender via direct deposit, prepaid card, or check.
Should I get a title loan with or without a credit check?
If you own a car and need access to a large amount of cash, a title loan with or with no credit check is worth considering. This is particularly true if you don’t have the best credit and can’t wait long for the funds. Just keep in mind that if you default on your loan, the lender has the right to repossess your vehicle.
Secure a title loan today
Title loans are a great way to get the funds you need fast. You can fill out an application online or at an Advance America store location near you. If approved for a title loan, you can get the cash you need right away and drive your car as you pay back the loan. Learn more about our title loans by visiting Advance America today.