Can I Get Short Term Loans With Bad Credit?

Most banks will automatically deny a personal loan if you have bad credit, but that is not the case at Wisconsin Auto Title Loans, Inc. We offer short-term loans for bad credit and ensure our process is quick and simple. You may even get the money on the same day you apply if approved!

If you need emergency money now, read on to find out more about our bad credit title loans and how you can start the process today. We will explain why your credit doesn't matter, what you need to get approved, and the approval process you can start and finish today.

Bad Credit Title Loans: Everything You Need To Know

Title loans are short-term loans for bad credit, which we offer at Wisconsin Auto Title Loans, Inc. Our simple process and minimal requirements make getting approved easy when you face a financial emergency, such as medical bills, unexpected travel costs, or home repairs. Do not panic when faced with a financial crisis while having poor credit!

Learn all you need to know about getting quick title loans with bad credit below:

What Are Title Loans?

Title loans are secured loans that let borrowers use their lien-free car title as collateral to borrow up to $15,000 in emergency cash. A lien-free car title is one without any outstanding liens, debts, or judgments, meaning you have fully paid off the full cost of your car.

If you own your vehicle outright, you can access its value by putting up its title as collateral for a loan to help pay for a financial emergency. The best part? Your credit score is not relevant to your loan approval, and you can get fast cash title loans with bad credit or nonexistent credit.

Why Can You Borrow Title Loans With Bad Credit?

Banks and other traditional lenders depend heavily on credit scores (or other financial factors like income and employment) to evaluate whether or not you are a credit risk. A bad credit score may indicate that you’ve missed payments or have a lot of existing debt. Some borrowers may have no credit history, so lenders have no proof that you can pay off a loan. With a title loan from us, your credit score may not be seen as important as with other loans.

This is because you back the loan by proving your lien-free vehicle title as collateral. It acts like a pledge that you will follow the loan agreement, including the payment terms and schedule. The good news is that you can still keep your vehicle — we are using your vehicle’s lien-free title as collateral, not the vehicle itself! We file a lien, which will only prohibit you from selling it or using it to take out other loans. When you’ve paid the loan back, we remove the lien.

Will Getting Bad Credit Title Loans Affect Your Credit Score?

While you can get approved for title loans with bad credit, you may worry that borrowing money like this can lower your credit score. Bank loans get reported to credit bureaus, and your credit score is lowered until you can pay them off. However, that is not the case with our short-term loans for bad credit.

Wisconsin Auto Title Loans, Inc. do not report our fast cash loans to credit bureaus. We do not do hard credit inquiries either, meaning your credit score will not go down from borrowing money with us. Getting bad credit title loans will not have a credit impact.

However, borrowers still must ensure they have a plan to repay their loans. While missing payments will not reduce their credit score, it can lead to late fees and defaulting on your loan. If you default on your loan, you can lose your vehicle. Before borrowing, make sure you have a plan to repay your car title loan to avoid further financial disaster. 

What Kind Of Vehicles Can Be Used For Bad Credit Title Loans?

When it comes to what kind of vehicles we accept for quick title loans with bad credit, you can use either your car, truck, minivan, or SUV for this loan. Just ensure the title is free of any outstanding liens and is in your name.

If it is registered under somebody else, you must complete a title transfer to ensure the title is in your name. This can be done at the Department of Motor Vehicles (DMV), but note that the transfer forms will need the signature of the person whose name is on the title.

Another important requirement for short-term loans for bad credit is that the title is lien-free, meaning it isn’t being used to secure other loans and has no court judgments or legal claims. You can find out if your car has an existing lien at the DMV. There are also websites that let you do a quick search. If your title does have an outstanding lien on it, you will have to go to the DMV to remove the lien before you can use it for this loan.

What Are Bad Credit Title Loan Requirements?

Now that you know what fast cash title loans for bad credit are, you must know about the required items. These items allow us to determine if you qualify for approval and how much we can lend you. Remember that without these items, we will not be able to help you get through the bad credit title loan process. Don’t worry; we will keep the list short so you can remember it. 

You only need three things to apply for short-term loans for bad credit:

• A lien-free vehicle title in your name
• A driver’s license or state-issued photo ID
• A physical inspection of your vehicle

We will verify the title and ID to ensure that you are the vehicle owner and that you aren’t a minor. We will conduct the vehicle inspection to give a fair evaluation of the loan amount that we can lend you if you are approved. The maximum loan limit is $15,000, but this depends on the kind of car or truck you have and its general condition. Rest assured that Wisconsin Auto Title Loans, Inc. will always give you a fair estimate based on a national pricing guide.  

Can I Apply For Fast Cash Title Loans Right Now?

Now, you are ready to start the simple title loan process! Our loan representatives will be here to help you at every step.  Our approval process for short-term loans for bad credit is easy and only takes a few steps. If you're well-prepared for the process, you can even get approved the same day you apply for quick access to emergency funds.

The following are the steps involved in getting approved for quick title loans with bad credit:

• Fill out our online contact form with your basic information
• Speak to a loan representative over the phone
• Ask questions about title loan terms, requirements, and the process
• Gather your required items and head to a local Wisconsin title loan store location
• Allow the loan rep to verify your requirements and assess the value of your vehicle
• Sign loan documents to complete the approval process
• Receive your title loan cash the same day or the next business day

Get The Bad Credit Title Loan You Need Today - Borrow up To $15,000!

If you need the money as soon as possible to handle your emergency expenses, you can now look into short-term loans for bad credit! There is no reason why bad credit should hold you back from getting the loan you need. At Wisconsin Auto Title Loans, Inc., our bad credit title loans allow you to borrow up to $15,000 quickly to handle your financial emergencies before they become disasters.

We recommend filling out our inquiry form now to find out if you qualify for short term loans for bad credit, so we can assist you right away. Our loan representatives are on standby, so act now to get the cash you need!

 

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