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Whether you struggle to make ends meet this month or you need cash for a big purchase, a title loan can be a great financial resource. During your loan search, one of the questions you might have is- how do I know where to get the best title loan for my financial situation?
While it may seem overwhelming to try and look online, borrowers may have a lot of great loan options available. One such option is ChoiceCash Title Loans serviced by LoanMart in Sterling Heights, Michigan.
How Do I Use my Car Title to Get Funding?
If you aren’t already familiar with how title loans work, they can seem a bit of a hassle. However, title loans can be one of the easiest and most flexible loans out there! A title loan is a unique type of secured loan that may allow you to borrow off the equity in your car.1
As a borrower, you will use the title of your vehicle to secure the loan, which offers many advantages like flexible approval and fast cash. If you have a paid off vehicle in your name, getting cash can be easy through a title loan in Sterling Heights, Michigan.
Why Choose a Title Loan for Funding in Sterling Heights, Michigan?
There are many alternative funding options available to eligible residents in Sterling Heights. However, a title loan is a popular choice for many reasons. As a secured loan, they can offer borrowers many different advantages besides cash. Some of the most notable benefits of choosing a secured loan are:
- Faster Funding: Borrowers that choose loan options like ChoiceCash Title Loans may be able to get their approved funds in as little as one business day!1
- Flexible Loan Approval: With a title loan secured with collateral, approval can be flexible and convenient.1
- Keep Driving: Although you will be using your title to get the loan, that doesn’t mean you’ll giving up driving your car! Responsible borrowers that make their payments on time can keep driving their car as they normally would.
Can I Get an Auto Equity Loan if My Credit is Bad?
One of the biggest concerns that future borrowers might have is about their credit. They might wonder: Can I qualify for a title loan if I do not have good credit?
One of the advantages of a title loan is flexible approval. Those from all credit histories and backgrounds may receive approval because the loan is secured with collateral.1 This means that your credit is not the most important factor in the approval process! While it is considered, loan approval is focused more on these two factors:
- A Borrower’s Ability to Repay the Loan
- The Equity of the Vehicle
Since collateral secured the loan, it must have a certain amount of value and equity. This is so the lender has a sense of security, which makes title loan approval more flexible and hassle-free for those with poor credit.1
What Can I Use My Title Loan Money For?
With most traditional loans, it is a requirement for the loan to use it in a designated way. This is true of auto loans, and mortgage loans. With a title loan, however, borrowers can choose to spend their cash as they wish! Whether it is for debt consolidation or rent this month, a title loan can be an excellent financial tool.
How Do I Get an Auto Title Loan Online in Sterling Heights, Michigan?
For most Michigan residents, having the ability to apply online can be a huge convenience. For eligible borrowers that live in Sterling Heights, Michigan, getting a loan online can be easy. With ChoiceCash Title Loans, borrowers can find out if they qualify for a title loan in just three simple steps:
- Submit a Loan Inquiry Online: This is the first step to getting approved, and it can just take a few minutes!1 Simply fill out the form and answer basic questions about your finances and vehicle.
- Submit a Few Documents: To qualify for a loan, you’ll need to submit a couple documents to help a loan agent determine your eligibility. While these documents can change from state to state, residents in Sterling Heights, Michigan can submit these online:
- Proof of Income or Alternative Income: These can be pay stubs, bank statements, social security statements, and other forms.
- Proof of Residence: Some ideas can be utility bills, recent mail, rent agreements, etc.
- Title to Your Vehicle: It must be in your name.
- Four References: These could be personal, professional, or both.
- Government or State Issued Photo ID: Eligible documents are your passport, driver’s license, or FOID card, etc.
Don’t Wait to Get Your Cash
Choosing ChoiceCash Title Loans serviced by LoanMart can mean getting your funds in one business day, so why wait to get your funds?1 Get started today by:
- Filling out a short prequalification form
- Contacting a loan agent directly through the toll-free number 1(855)277-4847.