6 Things Every Auto Title Loan Customer Should Know

June 30, 2021 | Mason Roberts

auto title loan

Are you planning to get an auto title loan online in Wisconsin anytime soon? Then there are a few things you should know before applying for one.

6 Things To Know About Getting An Auto Title Loan

1. Auto Title Loans Are Tightly Regulated, Despite Accessibility

you can’t get an auto title loan by just walking into the store, you need to prove your eligibility. 

The accessibility of title loans seems to be a double-edged sword. While they give people in need easier access to emergency resources than traditional financial institutions, it has also led to them having developed a reputation for being unregulated and untrustworthy.

In reality, auto title loans are quite heavily regulated. The accessibility comes from the more straightforward and quick process, not because there are no qualifying requirements.

For example, to qualify for an auto title loan at Wisconsin Auto Title Loans, Inc. you need to be at least 18, outright own your car (without any liens on it), and provide the following items:

  • A state-issued ID or driver’s license to verify you’re of legal age.
  • Your vehicle to determine the loan amount.
  • The vehicle’s lien-free title to prove car ownership and act as collateral.

2. You Can Get An Auto Title Loan Even If Your Income Is Unstable – Or If You’re Unemployed

While this is not the case with every lender, it is with most. At Wisconsin Auto Title Loans, Inc. for example, you aren’t even likely to be asked to provide proof of income.

This is because title loans are secure loans – you’re putting up an asset to act as collateral. This means the lender’s assets are protected from the get-go. So, you’ll be able to get your title loan without needing to provide proof of your income. 

3. You Can Get An Auto Title Loan Even If You Have No Credit

Wisconsin Auto Title Loans, Inc. is open to clients will all types of credit.

This means you can get a loan regardless of what your credit looks like – it can be good, it can be bad, or you may have no credit to speak of.

As long as your required items are up to par, you could qualify. 

auto title loan for bad credit

4. Getting An Auto Title Loan Won’t Reflect On Your Credit Score

Without being reported to credit bureaus, car title loans cannot affect your credit score, and Wisconsin Auto Title Loans, Inc. never reports its loan information to any credit bureaus.

Your credit will stay the same, neither going up or down.

5. You Don’t Have To Give Up Your Car To Get An Auto Title Loan

While this may differ from one lender to another, Wisconsin Auto Title Loans, Inc. doesn’t require you to leave your car with them for the duration of the loan.

As long as you keep your loan in good standing, you’re free to drive your car around the same as before.

6. All Auto Title Loan Fees Must Be Displayed In Your Agreement

Potential borrowers often fear undisclosed fees and hidden charges when it comes to auto title loans.

You won’t ever have to deal with any hidden fees when working with a reputable licensed vendor. According to state regulations all fees and charges must be displayed in your loan agreement and skipping out on it could lead to very bad consequences for the lender.

So, you have nothing to worry about. If you have any doubts about your charges – take a look at the agreement before signing anything. It should all be in there.

qualifying for auto title loan

How To Get An Auto Title Loan In Wisconsin

The most work you’d do to get an auto title loan is getting necessary items together. If you’re done with that step and everything’s ready to go, the rest of the process is much easier.

All you need to do to kick off the process is to choose a store location on the website and submit an online inquiry form with your information on Wisconsin Title Loans, Inc.

When the form gets processed, you’ll get a call from a store representative, who’ll double-check the information, explain the process, and answer your questions if you have any.

Take your ID/driver’s license, your car, and the car’s lien-free title in your name to the appointment with an associate the representative schedules for you.

The associate will go over everything to determine if you qualify for an auto title loan and establish the maximum loan amount.

If they decide to approve you, they’ll walk you through the final steps of the process – and you’ll get the cash the same day.

This entire process typically takes no more than 30-45 minutes

Start Your Auto Title Loan Process Today

Apply for an auto title loan right now and get up to $15,000 by the end of the day! Kick start your process with an online form and save yourself a trip to the store!