Sometimes, the problem with title loans tends to be that the potential borrower just doesn’t know enough about them. Especially, if they’ve only ever gotten loans from traditional financial institutions or banks before. So, questions like “what does my credit score need to be?”, “do title loans go on your credit history?” tend to be frequent.

In this article, we’ll be breaking down the impact of fast title loans on your credit history and clarifying the answers to these questions. But first, let’s determine if you need a title loan in the first place.

When Might You Need to Apply for A Title Loan?

The benefits of a title loan may make it tempting to get one to fix your problem right here, right now. But before you seek out a title loan, do remember that being rush about taking a loan is not a smart course of action.

Instead, you should think about what you need the title loan for. Title loans can be an option worth looking into if you’re dealing with a time-sensitive problem that could escalate if not handled immediately and need to get cash on short notice. As they’re accessible, welcoming of all credit types (good, bad, even outright nonexistent), and fast.

Good examples would be medical emergencies, urgent auto or house repairs, or emergency travel.

Do Title Loans Go on Your Credit History?

No. If you apply for a title loan at Fast Auto Loans, Inc., no loan information is going to go on your credit history.

For the loan information to affect your credit, it must be reported to a credit bureau by the lender. Fast Auto Loans, Inc. doesn’t report to any credit bureaus, so you can rest assured that your loan information will remain entirely between you and the lender.

Do Title Loans Go on Your Credit History If You Ask for It?

Unfortunately, no.

Fast Auto Loans, Inc. does not change its loan privacy policy and so it cannot report the loan information to any credit bureaus, even if it’s the borrower’s desire.

If you were planning to get a title loan and pay it off specifically to have it go on your credit history, you should reconsider your options.

Do Title Loans Go on Your Credit History If You Take out Another Loan?

Fast Auto Loans, Inc.'s information privacy policy has nothing to do with other loans you may be paying off at the same time as your title loan.

If you get approved for a loan at Fast Auto Loans, Inc., you can rest assured your loan information will be kept private. That being said, Fast Auto Loans, Inc. isn’t responsible for loans you get from another lender.

Do Title Loans Go on Your Credit History If You’re Late With A Loan Payment?

No. The privacy of your loan information isn’t circumstantial. Fast Auto Loans, Inc.'s information privacy policy won’t change if any unfortunate circumstances caused you to be late with your payment.

Do Title Loans Go on Your Credit If You Rollover A Loan?

Again, the answer is no.

No matter the circumstances of your title loan, the loan information will remain entirely between you and Fast Auto Loans, Inc.

What Do You Need to Qualify for A Title Loan?

Basically, all you need are your car and a few documents that prove you’re of legal age (18+) and own the car in question outright:

• A state-issued photo ID or driver’s license to verify your identity and age.
• The car that will act as collateral to determine the maximum loan amount you qualify for.
• The car’s lien-free title in your name to prove you’re the owner of the car.

How to Get A Title Loan at Fast Auto Loans, Inc.

As long as you get the first step out of the way by getting all the required items in order, getting a title loan should be pretty simple.

You won’t even need to pay an in-store visit to your local branch of Fast Auto Loans, Inc. to start the application – you can easily do it online from the comfort of your own home.

Go to the Fast Auto Loans, Inc. website, fill out and submit the online form for title loans, and wait for it to get processed. When it does, you’ll get a call from a loan representative from the nearest location, who’ll provide you with further instructions.

Take the required items (your state-issued ID or driver’s license, the car, the lien-free car title in your name) to the meeting the loan representative sets up.

They’ll need to inspect your car, as well as assess the documents to determine the maximum loan amount you qualify for.

Don’t Worry About Your Credit History With Title Loans

The answer to “do title loans go on your credit history?” is no in all scenarios. So, if you need to get a title loan as soon as possible, apply today, and once your title loans requirements sorted, you can get the cash you qualified for on the next bank business day at the latest.

 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.