Can I Use My Unemployment To Pay My Title Loan?
May 28, 2020 | By Peyton Sawyer
Experiencing a job loss is often the most common reason that someone would need or consider getting a title loan. Even if you are claiming unemployment, it is only a percentage of your regular income, which means you may find yourself needing extra cash to handle your expenses. If you are wondering if it is possible to qualify for a title loan while you are receiving unemployment, the answer is yes. The unemployment you receive can be used to make payments on title loans. If you would like to find a lender near you to get all the details, Wisconsin Auto Title Loans has several locations in WI. Simply search title loans near me to find out more.
Repaying a title loan is the same as any other loan when it comes to making payments. You will be required to adhere to a recurring monthly payment schedule so that you do not default on the terms of your agreement. If this is not the first time you have used a car title loan, then you know that it is a short-term loan secured by an asset, such as your motor vehicle. Because you are using your vehicle to secure title loan cash, defaulting on the loan could result in the loss of the vehicle.
Qualifying for a Title Loan in Wisconsin
The requirements needed for title loan approval are fairly simple. As long as you are at least 18 years of age, have a valid driver’s license or state-issued I.D., a vehicle with a lien-free title, and can provide that vehicle for a quick vehicle inspection to determine its worth, then you may have what it takes to qualify.
If you possess the requirements needed but have concerns about your credit, you will be happy to know that all credit is welcome. Unlike a traditional loan from a banking institution, a title loan from a private lender, like Wisconsin Auto Title Loans, will do everything they can to get you the money you need regardless of your credit. Whether you are currently working or receiving unemployment, the representatives will work hard to get you approved, as well as creating a repayment schedule that works on your limited income.
Requirements for An Auto Title Loan
The simple requirements needed when requesting a Wisconsin title loan are:
- A vehicle
- A lien-free title (in your name)
- Valid driver’s license or state-issued I.D.
- A quick vehicle inspection (used to determine the vehicle’s value)
Getting and Paying A Title Loan While Claiming Unemployment
If you need would like cash the same day you need it, then you can start the title loan process right now from the comfort of your own home. All you need to do is complete the online request form on Wisconsin Auto Title Loans to have a representative call you back. During that call, the representative will take a moment to confirm the information you have provided and answer any questions you may have. If you are concerned about making repayment of a title loan while claiming unemployment, let the representative know so that he or she can give you the peace of mind you need.
Title Loan Relief for The Unemployed
While your world may be turned upside down due to a job loss, know that you have the option of using title loans to make up for the cash you lost by getting the funding you need. So, why wait? Take advantage of the benefits title loans can offer today.