Car Title Loans: What You Should Know Before Borrowing

Car title loans can become a convenient way to get access to extra cash fast for people who own their vehicle outright. However, there are a few important things that you need to consider before getting the papers signed.

This guide from Wisconsin Auto Title Loans, Inc. can teach you about all the essential details of title loans, including requirements, loan amounts, and the approval process. Those looking for fast cash loan options can also learn how to get a title loan with us.

Car Title Loans In Wisconsin: 6 Things You Need To Know

Before applying for an auto title loan in Wisconsin, it’s essential to understand all of the necessary details about the loan. A title loan may not be the right fast cash loan option for everyone, so learning more about title loan details can help you determine if it can help you. Learn more about the requirements, approval process, and other details about car title loans below

The following are six things you should know about vehicle title loans:

1. What Are The Requirements For Title Loans?

Wondering if you can qualify for a Wisconsin title loan? As long as you have fully paid off your car, you can qualify for a car title loan. You must be able to prove your identity, age, and that you have a car title without outstanding liens, debts, or judgments.

You can prove you qualify with the following required items for title loans:

• Photo ID: Your driver’s license or any other photo ID will be used to make sure that you’re over 18 years old and to confirm your identity.
• Lien-free title: If you have fully paid off your car and you own it outright, then the title to it is lien-free. The title should also be in your name. If your name is not the only one on the documents, pay attention to the conjunction used. If the names have an ‘or’ between them, you can take out a loan without getting permission from the other person.
• Your vehicle: During an in-person meeting, we will inspect the car attached to your vehicle title to determine its value. We will use your car’s value to establish your title loan amount.

2. How Much Can You Borrow With A Car Title Loan?

Wisconsin Auto Title Loans, Inc. allows borrowers to receive up to $15,000. However, that is the maximum title loan amount, so not everyone will get approved for that much. How much you can borrow with title loans in Wisconsin depends on the value of your vehicle.

As mentioned above, we will conduct a car inspection in person to establish your car’s value. We will use a nationally recognized pricing guide to determine how much your car is worth. The more your car is worth, the more you will be able to borrow from a title loan.

The following are the factors that can influence your car’s value:

• Your car’s make and model (Ex, Nissan Altima)
• Your car’s age (when you bought the car, not what year the model is)
• Mileage
• Interior and exterior condition
• Car modifications

3. Can You Get Car Title Loans With Bad Credit?

If you face a financial emergency, it may cause your credit score to drop. For example, if you lose your job and cannot afford student loan payments, this can create a negative payment history charge that can lower your score. Can you still borrow title loans with bad credit?

Wisconsin Auto Title Loans, Inc. allows borrowers with bad credit to get approved for title loans. Since you use your car title as collateral, your creditworthiness is not relevant to approval. This means you can get title loans for bad credit.

We may conduct a soft credit check, and your poor credit score could lead to you getting approved for less emergency cash. However, we will not deny title loan approval because of credit.

4. How To Get A Car Title Loan

If you feel a car title loan can help with your emergency expenses, you can start the process online today. We only have a few steps, allowing borrowers to get approved quickly for emergency cash. We have a fast, efficient process to allow borrowers to get approved as quickly as possible to handle their financial emergencies.

The following is how to get a car title loan:

• Provide your full name, contact information, zip code, or vehicle details on our online form
• Speak to a loan representative on the phone about title loan details
• Bring your required items to the nearest Wisconsin store location
• Have your eligibility requirements verified in person
• Allow a loan representative to inspect your car for its value
• Sign loan documents to complete the process
• Receive your title loan funds the same day or the next business day

5. What Are The Title Loan Repayment Options?

Most borrowers can repay their title loan in less than a month. Paying off your title loan quickly is preferable, as it allows you to avoid incurring tons of interest.

How exactly that could be done would depend on the title loan repayment options offered by the lender. In some cases, you might be able to set up a one-time payment from your bank account, pay over the phone using your debit card, or come over to a physical store location.

We at Wisconsin Auto Title Loans, Inc. have a convenient payment portal that you can use to make the payment online from the comfort of your home. During the approval process, we will discuss title loan repayment options to ensure you can handle repayment at a pace that makes sense for your financial situation.

6. Are There Any Other Fast Cash Loan Options?

Those looking for loan alternatives can turn to signature installment loans. You wouldn’t have to provide collateral to qualify, so a signature loan can become one of the alternatives if you don’t have a lien-free car title.

However, remember that you would have to provide proof of income. Furthermore, with a signature installment loan, the maximum amount you might be able to qualify for would be $1,500.

Title loans are among some of the most popular fast cash loan options because any credit is welcome for most amounts. You also won’t be required to bring in proof of income, and you might end up qualifying for up to $15,000.

Why Choose Wisconsin Auto Title Loans, Inc.?

Our experts at Wisconsin Auto Title Loans, Inc. are highly trained professionals who are committed to helping you find the most convenient financial option for your situation. We have over 30 years of experience and offer many advantages for those who need fast financial relief.

The following are some of the benefits of getting title loans with us:

• You can start the process online: While you will need to come into one of our stores to get approved, you can kickstart the process online. You can provide your information online to avoid delays later on.
• You’ll get to keep your car while repaying: This is especially important for those who heavily rely on their car in their daily life. No need to change your habits after taking out a loan. As long as you repay on time, you’ll get to continue driving your vehicle as you normally would.
• You will get the money in the shortest timeframe: The whole process can take only about 30 minutes. If you do get approved, you might receive the money the following bank day or even the same day.

Apply Online For Car Title Loans In Wisconsin – Borrow Up To $15,000 Today!

Car title loans allow you to borrow money the same day you apply. Our quick approval process gets you access to emergency cash within one business day to quickly resolve your financial emergency. You can borrow Wisconsin title loans with bad credit, and you’ll get to keep your car.

Ready to get started? Simply fill out the inquiry form, and we’ll soon give you a call!

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