Wisconsin Title Loans Explained: What Every New Borrower Must Know

Wisconsin title loans can help borrowers when faced with a financial emergency, such as medical expenses, overdue bills, or auto and home repairs. You can use your lien-free car title as collateral to borrow up to $15,000. 

To make things simple and easy to understand, we’ve compiled a guide to ensure you get Wisconsin title loans explained as completely as you need. We’ll cover basic terms, the title loan process, how to qualify, and the entire Wisconsin Auto Title Loans, Inc. process. We hope to help you understand how to get auto title loans in Wisconsin during a financial crisis. 

Wisconsin Title Loans Explained: Everything You Need To Know

Borrowers looking for emergency cash may need title loans explained to see if they are the right choice for their emergency. Auto title loans in Wisconsin are just one financing option when faced with an emergency. Learning about the terms, requirements, and approval process can better help you decide whether getting this quick cash loan can provide the financial aid you need.

The following are all the details you should know about Wisconsin title loans:

Wisconsin Title Loans Basic Terms Explained

The first thing you need to know about our Wisconsin title loans are the basic terms you will hear. You’ll hear these basic terms a few times when learning about our quick cash loans and going through our title loan process, so it only makes sense for you to start familiarizing yourself with them now. Make sure you know why they’re used and what they mean to avoid confusion during the approval process.

Here are some terms you’ll come across during the process:

• Collateral: This is an asset you offer to guarantee loan repayment. At Wisconsin Auto Title Loans Inc., we accept your car’s title as collateral. You keep your car as normal as you repay the loan.
• Lien-free: One of the essential parts you’ll learn when you have Wisconsin title loans explained is the lien-free title needed for the collateral. To be lien-free, your car must be paid off and not used as collateral anywhere else. Your paper title should reflect this. You will have a lien-free car title when you have fully paid off your vehicle. 
• Secured loan: A loan requiring collateral is secured, such as our title loans. Borrowers secure the loan using their vehicle title as collateral.
• General/inquiry/online form: This form on our homepage asks for your contact information. Completing this form is the first step in the title loan process. We use this information to get in touch with you.
• Valid ID: You’ll need a valid government photo ID to prove your age and identity. You can use either your driver’s license or another state-issued photo ID, such as your state ID, military card, or US passport card.

How Do Wisconsin Title Loans Work?

Now that you know the most common terms, it’s time to break down what a title loan is and how it works to make sure you’ve really got Wisconsin title loans explained fully. Borrowers offer up their lien-free car title as collateral. After establishing that you have fully paid off your vehicle, Wisconsin Auto Title Loans, Inc. will place a lien on your vehicle title.

After that, the borrower can receive their emergency cash to help pay for their financial emergency. They will then have to prepare a plan to repay the loan amount over the course of a few weeks or months.

It's important for borrowers to remember that auto title loans in Wisconsin should only be used in a financial crisis. You should not borrow money frivolously for nonessentials, such as a new car, wardrobe, or phone.

You should only borrow Wisconsin vehicle title loans when facing a financial emergency they cannot afford, such as:

• Medical costs
• Emergency home repairs
• Car repairs
• Emergency travel
• Late utility bills
• Veterinarian expenses

What Are The Requirements For Auto Title Loans In Wisconsin?

Wisconsin Auto Title Loans Inc. has minimal requirements for borrowers to get approved for title loans. Our title loan requirements are simple to allow borrowers in desperate need of emergency cash to get it as soon as possible. Instead of requiring borrowers to find tons of necessary documents, we only need a few to verify their identity, age, lien-free title, and vehicle value.

The following are the requirements for Wisconsin title loans:

• Your driver's license or state-issued ID card
• A lien-free car title in your name
• Your vehicle for a quick inspection

It's essential that you have a lien-free car title in your name; you cannot use someone else's vehicle title. If you bought your car from someone else or got it as a gift, you must get a title transfer to have your name on it before getting a car title loan. You can head to a local DMV office and pay a small fee to get your name on the car title.

What Is The Title Loan Process?

Once you understand title loans completely and prepare all of your required items, you can begin the title loan process. Thankfully, Wisconsin Auto Title Loans, Inc. allows borrowers to handle the process online or in person. If you wish to have a face-to-face representative guide you through the process, you can visit one of our Wisconsin store locations.

You could also provide your basic information online or over the phone. Either way, the title loan process can take as little as 30 minutes, allowing you to get same-day approval for title loans.

The following are the steps involved in the Wisconsin title loan process:

• Fill out our online inquiry form
• Speak to a loan representative over the phone
• Determine a meeting place, such as your home, workplace, or Wisconsin store location
• Gather your required items and head to the in-person meeting
• Allow the loan representative to verify your requirements and inspect the value of your car
• Sign documents to complete the title loan process
• Receive your emergency cash the same day or the next business day

FAQs

Can you get auto title loans in Wisconsin with bad credit?

Title loans use a lien-free car title as collateral to secure the loan. Since title loans are secured, the borrower can have bad credit or no credit, as your credit score is not relevant for approval. Borrowing money through a title loan will also not lower your credit score since we do not report our quick cash loans to the credit bureaus. 

What is the repayment process for title loans?

We have a flexible title loan repayment process at Wisconsin Auto Title Loans, Inc. We do not require borrowers to repay their loans right away. You can discuss how you wish to repay your loan with the loan representative during the in-person meeting.

Can you use a damaged car for an auto title loan in Wisconsin?

We accept car titles attached to damaged cars. During the in-person process, we will establish the value of your car to determine how much you can borrow. While a damaged vehicle will have a lower value, leading to you borrowing less money, you can still get approved with a damaged vehicle that is still operational.

Get Fast Cash Today With Wisconsin Title Loans!

You’ve breezed through our guide to have Wisconsin title loans explained fully. Now, it’s time to go through the actual process to help with paying for a financial emergency. If we missed anything or you have more questions, our trusted representatives are ready to help in person or over the phone.

Wisconsin Auto Title Loans, Inc., provides thousands of dollars to those in a difficult situation. Don’t hesitate any longer—fill out the online form now. One of our loan representatives will call you soon to discuss how you can get approved with our quick and simple title loan process today!

 

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