Bad Credit Title Loans With 24 Hour Approval

Most of us have been in a situation where we need to get a loan, but it’s harder than ever to find a lender willing to look past a poor credit score. Here at Title Pawn Online, we have a solution where you can borrow $1,000 by pawning the title to your vehicle and most customers will qualify regardless of their credit history.

A title pawn uses your car or truck as collateral for a loan, so you don’t need to worry about bad credit when you apply. Unlike an unsecured loan, there’s security in the form of your vehicle backing up the loan, and a lender can always repossess that vehicle and sell it to pay down the loan if you fall behind on the payments. Are you looking to learn more about how these bad credit title loans work and what you need to qualify? We’ll break it all down below so you can decide if a title loan is right for you!

Bad Credit Title Loans – What Is Required

Bad credit title loans are relatively easy to get approved for if you have a lien free car title. In contrast to unsecured loans, you don’t need a good credit history, and you can’t be in bankruptcy or have past vehicle repossessions. We’ll need proof of income showing you will make the required monthly payments. We also need proof that your vehicle is registered and recently passed a smog test in your state, proof of identity, and proof that your car or truck has full insurance coverage.

One requirement we’ve seen more and more recently is that you’ll need to bring in your vehicle for a brief inspection. This inspection process takes 30 minutes or less, and during this time, your car will be thoroughly checked for any issues that could affect its resale value. You’ll also need to provide the current mileage and VIN and confirm that all the DMV documents are in order.

Remember that title loans with bad credit rely primarily on the equity in your vehicle to get you approved. You must show enough value to back up the loan, as you likely have poor credit and a subpar lending history. If you meet these requirements, Title Pawn Online may approve you for a bad credit title loan of up to $25,000! Apply online or at any location in Florida so you can quickly get the cash you need without worrying about being denied by the lender.

How Long To Get Approved For Bad Credit Title Pawns

A title loan for bad credit can be a great option if you need cash but can’t get approved by other lenders. When you apply with Title Pawn Online, you can send in all your documents and sign over the car’s title to your lender within a few hours. After that, you’ll have the choice of having the funds sent by direct deposit to your checking account, or you can pick up a money order or check at any lending office near you.

So, if you need emergency funds, a title pawn is one of the best options. And since there’s no credit check, it’s a great way to get money even if your credit score is low. Most banks and personal finance lenders will deny your application because of a few missed payments or loan defaults.

Interest Rates On Title Loans With Bad Credit

There’s no avoiding that title loan interest rates are high as these are cash loans for people with credit scores well under 700. Do you have a credit score that’s “good” and well above 700? If so, it may be an option to consider a personal loan or cash advance from your bank, as the finance rate will be much lower than a title pawn. The only drawback with an unsecured loan is that the amount of cash you can borrow is likely smaller than what’s available from a secured lender that bases the lending amount on your vehicle value.

Monthly Payments And Fees With  Bad Credit Title Loans

Since your car’s equity secures an online title loan, the monthly payments will be determined by the amount you borrow. Some lenders will allow you to set the monthly payment according to what works for your budget, and other companies will want the loan repaid in 1 to 3 years.

Expect a monthly payment of 5-10% of the total loan amount, and your fees can include a loan origination fee, late fee, and early payoff fee. Ask your lender beforehand if they charge a fee to pay off the loan early, and consider other companies that may not charge you to repay the loan before it comes due.

Other Benefits Of Title Loans With Bad Credit

– Most newer vehicles can be used as collateral for a loan. Any car manufactured since 2010 should qualify for a title loan with bad credit.

– You can use the cash however you choose. The money will be in your bank account within 24 hours of approval.

– Borrow more than what’s available from an unsecured personal loan lender. An auto title loan with no credit check makes it possible to borrow cash even with a low FICO score!

There’s no denying the fact that there are benefits for anyone who needs a bad credit title loan. However, it helps to know the risk as well. Remember, title loans have interest rates that approach 100%, and you’ll struggle to repay your loan if you only pay the minimum each month. Also, your vehicle is the collateral for your loan, and there’s always a chance you may miss a payment. In that scenario, your car or truck can be repossessed or auctioned off to cover the amount borrowed.

Apply Today For A Title Loan With Poor Credit

Apply with Title Pawn Online to get same day bad credit loans. You can qualify quickly and get up to $25,000 without worrying about a significant credit check. We accept applicants looking for title loans in California, Arizona, or anywhere else in the US where you can legally pawn your vehicle for cash! Fill out an application online or contact us at 1-888-370-7434 to find out what your car’s title is worth!