Online Title Loans for Bad Credit: How They Work & How To Get $2,000
You won’t believe how easy qualifying for online title loans with Fast Auto Loans, Inc. is! Bad or non-existent credit won’t become a problem, and you might receive up to $15,000 as soon as the same or the following bank day.
What exactly makes the process so fast? How will the loan amount be determined, and what documents will you need? Read our guide below to learn how auto title loans work online and the process for getting a title loan for bad credit.
Can You Qualify For A Title Loan For Bad Credit?
Online title loans are perhaps among the most popular borrowing options for those with poor credit scores. If you decide to go for such a loan, your credit history won’t be the main factor considered by the lender. In fact, you might get qualified even if your credit is far below average or is simply nonexistent.
As title loans for bad credit are secured by collateral, the lender has a physical guarantee that you’d repay the loan. The representative will hold on to your clear title until you manage to repay. The good news is that you can continue using your car just as you usually would. Simply don’t forget to stick to the repayment schedule.
Unlike traditional bank loans that check creditworthiness to verify your ability to repay the loan, you won’t need to worry about that with a secured title loan. As long as you meet our other requirements, you should be able to get approved for a bad credit title loan.
What Are The Requirements For Title Loans In Arizona?
Even though your credit score won’t play a huge role in the process, there are other important factors that the lender would pay a lot more attention to. For example, you have to make sure that your car does not have any liens attached to it, as only a clear title can be used to secure the loan. The document should also be in your name, and you must be over 18 years old to qualify.
Here are the required items for an auto title loan in Arizona:
- A driver’s license or state-issued photo ID that displays your full name and date of birth
- A lien-free vehicle title in your name
- Your vehicle for a quick inspection
Make sure you gather these items before you begin the approval process to ensure you have everything you need to qualify. You can then proceed and learn how much you can borrow from car title loans.
Can You Get $2,000 Title Loans?
Another amazing thing about online title loans for bad credit is that you can potentially qualify for a large loan amount. With many borrowing options, a few hundred bucks is typically the maximum you can count on. With a title loan, you might be able to qualify for anywhere between $300 and $15,000.
The loan amount would depend on the condition and value of your vehicle. The verification agent would typically use a nationally recognized evaluation guide to determine the car's market value during an inspection. Do bear in mind that you would rarely be given 100% of the vehicle’s value. Many lenders would agree to give you anywhere between 20% and 50%.
The following are the factors that can influence your title loan value:
- Age of vehicle
- Make and model
- Interiors and exterior condition
- Mileage
- Maintenance history
- Modifications
In a nutshell, getting $2,000 with a title loan won’t be too difficult. If your vehicle is relatively new and in good working condition, you may qualify for a large enough sum to help you cover your emergency expense. By the way, some lenders are ready to work even with those clients who own a vehicle that is 10+ years old, as long as the condition of the car is satisfactory.
How Do Title Loans Work?
A title loan is a borrowing option that allows you to use your clear title to get access to fast cash. Even though in some cases these loans are called online title loans, the process cannot be completed entirely on your laptop or smartphone. You would still have to meet up with a lender representative in person, as the expert needs to conduct a quick inspection of your vehicle.
Here’s a step-by-step breakdown of the process:
- Fill out the online form – You would first have to complete an online inquiry form. It takes just a few moments to provide your full name, zip code, email address, phone number, and vehicle details (make, model, and year). After receiving and reviewing your information, a loan rep will call you.
- Speak to a loan representative on the phone – The representative will explain how the process works and what items you’re going to need to get approved. You can also ask questions to clear up any confusion about title loans. During the phone call, you’d also get to schedule a meeting with the verification agent.
- Get your requirements verified in person - Arrive at the agreed-upon Arizona store location with all the necessary items. They will ensure all of the information on your documents matches. They will also inspect your vehicle to determine its value. This process will take less than 30 minutes.
- Sign the loan agreement – You can now complete the process by signing a few documents. You will receive your title loan cash later the same day or by the next business day.
You can get approved for a title loan for bad credit the same day you apply. Fast access to cash allows you to handle your urgent costs before they're due. Avoid reduced credit, late fees, and service disruptions with financial aid from Fast Auto Loans, Inc.
FAQs About Title Loans For Bad Credit
Will a title loan lower my credit score?
We do not conduct hard credit inquiries or report our loans to the three major credit bureaus. You can borrow a title loan from us without worrying about your credit score going lower.
Can I use someone else's car title?
The name on your vehicle title must match the one on your ID. You cannot use someone else’s vehicle title for a title loan. If you have someone else’s name on your car title, you must first get a title transfer before applying for a title loan.
How does title loan repayment work?
We will negotiate repayment with you. Everyone's financial situation is different, and we are willing to accommodate different timelines. You can repay the loan all at once or over a few lump-sum payments.
Borrow Title Loans For Bad Credit – Borrow $2,000 Today!
Do you need $2,000 for a financial emergency? Fast Auto Loans, Inc. is here to provide financial assistance. Our title loans are available to borrowers of all credit types; you can even get accepted with a credit score below 500. As long as you own your car, truck, or motorcycle outright, we can help you with fast emergency financing within one business day.
Don’t wait when you need emergency cash; begin the process today! Fill out our online title loan form in just a few minutes, and we will call you to explain the process. Visit us in person to get approved in less than 30 minutes. Apply for online title loans today!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
