Car Title Loans: What You Should Know Before Borrowing

If you do not have enough money set aside for a rainy day, you might find yourself struggling in case a disaster strikes. Those who own their vehicle outright can get fast cash with car title loans, and our professionals at Wisconsin Auto Title Loans, Inc. can help you with that.

This guide will explain all of the important details about Wisconsin title loans, including loan amounts, requirements, the approval process, and more! Here’s everything you need to know before signing the papers.

What Is A Title Loan?

Title loans are secured loans that use your lien-free vehicle title as collateral. You must own your car, truck, or SUV outright to qualify for a title loan. That means the car is fully paid off, and the vehicle title has no outstanding liens, debts, or judgments.

You can borrow up to $15,000 from a title loan in Wisconsin. However, that is the maximum borrowing amount, and not everyone will qualify for it. The value of your title loan depends on your vehicle’s value, as determined by a vehicle inspection. Your car’s age, make, model, condition, and mileage will determine how much you can borrow.

What Are The Required Items For Title Loans?

Getting approved for a Wisconsin title loan is easy as long as you own your car outright. We only have three required items that borrowers will need for loan approval. You should be able to easily find these items to bring them to one of our stores for the quick in-person process.

The following are the required items for title loans:

• Photo ID: You can choose to bring either your state-issued ID or your driver’s license. The lender will use the document to verify your identity and age. Remember that only those who are over 18 years old can take out a loan.

• Lien-free title: Qualifying for a title loan requires you to have a clear vehicle title. You can get approved if you have fully paid off your vehicle. The car title must also match the name on your driver’s license or state-issued ID. If your name is not on the car title, you must get a title transfer before applying.

• Your vehicle: Make sure that the clear title proves the ownership of the car that you’ll be bringing for the inspection. Usually, lenders would agree to consider vehicles of any make and model. However, if your car is severely damaged and is not in good working condition, it may simply not hold enough value. In such a case, you might not get approved for a loan.

How To Get A Car Title Loan

Once you have all of the required items mentioned above, you can start the process for title loans. This process will take less than one day. You can start the process online with our contact form on this website, but you will need to come into one of our Wisconsin stores to finalize the process. Thankfully, the in-person process takes less than 30 minutes.

Here is how to get a car title loan in Wisconsin:

• Submit your name, zip code, contact information, and vehicle details through our online form
• Answer a phone call from a loan representative to discuss car title loan terms
• Bring your required items to the nearest Wisconsin store location
• Get your requirements verified in less than 30 minutes
• Have your vehicle inspected to determine title loan value
• Sign the loan agreement to complete the title loan process
• Receive your urgent cash later that day or the next business day

Can You Refinance A Car Title Loan?

In some cases, refinancing a title loan is possible. The process is quite similar to the initial one; however, you might need to meet a few additional requirements. For example, your vehicle must be worth more than the outstanding loan amount, and you have to be current with your loan payments.

Even though you might be able to refinance the loan, it doesn’t mean you should immediately pursue this option. Ideally, you would want to pay off the initial debt as quickly as possible. Title loans are generally short-term loans, so you may be able to repay them in about a month.

To ensure that the loan does not become an unmanageable financial burden, always consider the amount you can realistically repay. Additionally, avoid borrowing more than you can afford to pay back. With a title loan, you might qualify for thousands of dollars, but if you only need a thousand, make sure to stick to that amount.

When Should You Get A Car Title Loan In Wisconsin?

Car title loans should be used exclusively for emergencies. They should be a last resort if you cannot find another way to afford an urgent economic emergency. You should not borrow money through title loans for luxury purchases like vacations, a new phone, or a shopping spree.

Some examples of such emergency situations that title loans can help with include:

• Overdue bills
• Important home or auto repairs
• Surprise medical or vet bills
• Unexpected travel expenses
• Family emergencies

If you’re dealing with any of the following, you might use the loan amount to cover the expense and then get back to your normal lifestyle without having to worry about it any longer. Simply remember to stick to the repayment schedule. Only borrow what is necessary to help with repayment.

What Are The Benefits Of Wisconsin Title Loans?

We’ve discussed the details of title loans, but what makes this fast cash loan option right for you? There are many benefits of title loans that set them apart from traditional bank loans and other emergency loan options like payday loans.

Before applying for a title loan, consider some of the benefits that come along with them:

• Get approved the same day you apply for quick access to emergency funds.
• Receive urgent cash within one business day to resolve your financial emergency quickly.
• Borrow potentially thousands for large financial emergencies.
• No credit check required, allowing borrowers to get title loans for bad credit.
• Begin the process online before completing it in person in less than 30 minutes.
• Keep your car during repayment to continue commuting to work and school.

Do these benefits seem appealing to you? Car title loans may serve as the best financing option for your financial crisis. It’s the emergency cash loan with the highest loan amount, and you can get approved no matter your credit score. Begin the approval process today by applying online!

Get A Car Title Loan In Wisconsin – Borrow Up To $15,000 Today!

If you’re looking for fast cash loan options and you have a vehicle that you own outright, you should consider car title loans. At Wisconsin Auto Title Loans Inc., you might be able to qualify for up to $15,000 in just half an hour. We are ready to consider all credit situations, which means that you can get approved even with bad or non-existent credit.

Ready to get fast financial relief! Start the process online – fill out our online loan form with your basic details, and a loan representative will call you to explain the entire process. Apply for car title loans today to get the emergency cash you need in less than a business day!

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