How To Get Title Loans in Milwaukee WI

February 11, 2021 | Louis Tully

title loans in milwaukee wi

Everyone runs short on money from time to time. It's life, so debts pile up, and unexpected things always happen. But just because you're broke doesn't mean you're irresponsible. In fact, it could just mean that you haven't considered what title loans Milwaukee WI has to offer yet.

What is a Title Loan?

Title loans are secured loans, meaning they require some form of collateral to cover liability. In this case, a vehicle title is exchanged for a lump sum of money. Usually, that money gets deposited rapidly into the borrower's bank account, giving them virtually instant access to much-needed funds.

The application process for title loans Milwaukee WI is simple, and so are the repayment structures. The lender places a lien on the borrower's car, requiring the car's owner to surrender a hard copy of their clean title. In exchange, the borrower receives a temporary loan from the underwriter and can spend it on whatever they want.

How to Get Title Loans Milwaukee WI

These quick cash title loans are in every state, not just in Wisconsin, but each state has its own requirements. Therefore, Wisconsin borrowers need to understand their parameters before applying. Here are a few basics everyone should know for title loans Milwaukee WI:

  • In WI, title loans max out at $15,000.
  • You do not have to submit pay stubs or tax forms to qualify.
  • The approval process takes as little as 30 minutes to complete.

To qualify for one of these loans, borrowers must show up with specific documentation to prove that, A) they are the rightful owner of the title and B) they are who they say they are. Clients might also be asked for bank information so that the lender knows where to deposit their money.

Documents Needed for Wisconsin Title Loans

While title loans Milwaukee WI process is already rapid and convenient, you can make it even more so by showing up prepared. That means having the following items ready to go ahead of time:

  • Your driver's license or a state-issued identification card
  • The hard copy of your car's lien-free title
  • The vehicle for the underwriter to inspect

Keep in mind that some lending agencies may request other types of documentation as well. It all depends on the condition of your vehicle and/or title at the time of your application. For more information, talk to your loan officer directly.

car title loans wisconsin

Understanding the Loan Process for Title Loans Milwaukee WI

Did you know that you can get the online title loan process started without ever stepping foot in the office? Thanks to modern technology, you can now submit your application online and receive an answer within an hour. This option allows for greater privacy and may also be safer, in regards to COVID-19. Either way, you can always call by phone to speak to a live representative.

When someone calls you back, try to be available. The agent will then confirm the information you submitted and explain how the rest of the process goes. They will also take some time to answer any questions or address any concerns you may have. After your application has been approved, you should expect money in the bank within 24 hours.

Title Loans and Bad Credit

Don't worry if you have less than perfect credit. You may still qualify for title loans Milwaukee WI. That's because title loans are designed to help people regardless of their credit score. Plus, most lenders, like Wisconsin Auto Title Loans Inc., don't rely on the borrower's credit report when approving the loan. Instead, it's based on the quality of the title presented.

That means you can use this option for a financial boost when other avenues fail. This type of funding is faster, more convenient, and less damaging to your credit rating if you pay it back on time. Besides, it requires far less paperwork and has much less red tape than traditional bank loans.

Does my Car Need to Be Running to Get a Title Loan?

In some cases, your car can be non-operational and still qualify as collateral for a title loan. If the title is worth something despite the vehicle's condition, your lender may agree to adjusted terms. As such, clients with high-quality cars tend to receive the highest loan payouts. At the same time, specific makes and models may be worth more.

The primary stipulation is that the title is clean and lien-free. That means it doesn't have an outstanding loan or judgment on it from elsewhere. Combining loans becomes too complicated and risky for lenders, so don't even bother applying unless you're the rightful owner.

Title Loans In Milwaukee Wisconsin

Applying for title loans Milwaukee WI isn't as hard as it seems. It's certainly not as difficult or time-consuming as applying for traditional loans. So, increase your chances of getting approved by following the rules and knowing exactly what to expect when seeking fast title loan cash.