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:

  1. A Borrower’s Ability to Repay the Loan
  2. 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:

  1. 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.
  2. 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:

  1. Filling out a short prequalification form
  2. Contacting a loan agent directly through the toll-free number 1(855)277-4847.