Bad Credit Title Loans – Can I get a Title Loan with Bad Credit? A car title loan is a short term loan secured by the vehicle. One of the advantages of a title loan is that your vehicle is your credit. Most title lenders do not require a credit check. This means you can qualify for a title loan with any credit. So yes, you can get a title loan with bad credit.

Title Loan Credit Requirements

As stated, most title loans do not require a credit check. This means the lender does not look at your credit report and you can qualify for a title loan with any credit. This includes:

• Bad credit
• No credit
• Ok credit
• Any credit

Some borrowers have a recent negative incident on their credit report that precludes them from other forms of financing. With a title loan, this does not matter. The vehicle is used to secure the loan so the risk of missing payments is mitigated by the secured interest in the vehicle. What this means is, the lender is willing to overlook the negative incident in the credit report because a default on the title loan the lender can repossess and sell the vehicle to cover the cost of the loan.

How do I get a Bad Credit Title Loan?

Getting a title loan is an easy process. Getting a bad credit title loan is the same as any other title loan since there is no credit check. Because there is no credit check, the lender will not know what your credit score is. This means they treat you the same regardless of your credit history and credit score. To start the process, simply choose the best title loan company and submit an application. Choosing the title lender is the single most important part of getting a title loan.

Why is the Lender so Important?

Title loans have a bad reputation for good reason. Many lenders, including some of the largest lenders, treat their customers very poorly, charge very high rates, and have poor customer service. To find out how a lender treats their customers, read some of the complaints from the Better Business Bureau and Ripoff Report.

Another way to find out how a lender operates is to read some of their posts online. In 2016, Google severely restricting advertising by title lenders online. This led to an increase in Search Engine Optimization by some of the lenders with the lowest reputations. If you read one of their posts and it makes no sense, they are probably not the best choice. If the lender is willing to post nonsense as information what else are they willing to do? Some of the tactics title lenders are known for include:

• Charging very high interest rates
• Not disclosing all fees and costs
• Making loan agreements difficult to understand
• Aggressively collecting payments
• Making loans that cannot be repaid
• Repossessing cars when the loan is almost paid off

Finding a transparent, honest lender is the key to making sure your title loan is affordable and you do not lose your car. Spend some time, read about others experiences with the lenders, and make your decision.

Title Loan Payments

Regardless of your credit situation, making your title loan payments on time should be a priority. With a title loan, your vehicle is used as collateral for loan. This means missed payments may lead to losing your vehicle. This means you will want to make sure you can afford at least the minimum monthly payment. Use our title loan calculator to find out different monthly payments for different loan amounts, interest rates, and terms.

Getting a Bad Credit Title Loan – Next Steps

Moving forward with a bad credit title loan is easy. Simply find a lender that doesn’t check your credit and apply. Most lenders allow you to apply online so you should be able to do this quickly without leaving your home. To find out more about how to get a title loan and other information related to how title loans work visit us.

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