If you are a resident of Florida with bad credit, you are not alone. According to data published by Forbes, many Americans continue to struggle with their credit report.
Your poor credit history may hold you back from qualifying for many traditional loan options. However, there are still many options available to you! You may still qualify for some Florida loans with bad credit. Keep reading to learn more about ChoiceCash Title Loans and how you can qualify! 1
Can I Still Qualify for Some Florida Loans with Poor Credit?
The short answer is yes. People without a strong credit history can qualify for alternative types of funding. It is possible to apply for many Florida loans with bad credit!
While your credit history may hold you back from many financial opportunities to get back on your feet, there can still be hope. There are other alternative options available to you if you’re looking to get the money you need online in Florida.
Some of the most common alternative loan options in Florida are:
· Title Pawn Loans
· Payday Loans
· Car Title loans
With so many loan options available, it may seem difficult to narrow it down to one. Take a closer look at your options before applying for a Florida loan with bad credit:
Title Pawn Loans
A title pawn is a type of collateral-based loan that is available to some Florida residents. Essentially, you will use your car’s title to secure cash. This type of loan option typically has fewer eligibility requirements, which may seem like a plus. However, with a title pawn loan, you may not be able to access your vehicle during the repayment process. If you need your vehicle daily, it might not be the best idea to apply for a title pawn loan.
A payday loan is a short-term loan that is usually due on the borrower’s next payday. Typically, the repayment period for this type of loan is anywhere from two weeks to thirty days, depending on your state.
With a payday loan, the borrower writes a post-dated check for the amount borrowed plus interest and gives it to the lender. The lender holds the check until it matures and then deposits it into their account.
The minimum requirements for a payday loan are that you must be 18 years of age or older and have an active checking account. Additionally, you must have a job or steady income source where you are receiving regular paychecks. While payday loans are fast and have few credit requirements during the application process, they may not be the best loan option available to you. Payday loans are notorious for their high-interest rates and fees that are difficult to repay in the long run. With a payday loan, a borrower can often be trapped in a cycle of debt if they are not careful. There may be better options available if you are looking to apply for Florida loans with bad credit!
In comparison to title pawn loans and payday loans, a title loan can stand out in a few different ways.
With a vehicle title loan, you can use your vehicle’s title, rather than your credit history, to secure the cash you need. Car title loans are another type of collateral-based loan that can allow an individual to borrow off the available equity in their car. The more equity available and the higher the individual’s income, the larger the loan amount could be.1
There are many benefits to a car title loan, including the ability to keep your vehicle during the repayment process if you make your payments on time!
What Documents Will I Need to Qualify for a Florida Loan with Poor Credit?
Looking to find the best Florida loans for bad credit? It can be easier than you think! With loan options like ChoiceCash Title Loans, you can get started on your inquiry form from the comfort of your home.
If you’re ready to see if you qualify for funding, it can be helpful to start gathering the required paperwork as soon as possible.
When you work with ChoiceCash Title Loans, the paperwork you’ll need can be simple to locate. Typically, you will need:
The title of your car must be in your name to get an auto title loan. A car title is an essential document that establishes proof of ownership for the automobile you drive. If the vehicle title is not currently in your name or you have misplaced it, don’t panic. You can speak with the loan representatives to learn more about transferring the title to your name. If the title is misplaced, you can learn how to request a duplicate title at your local Department of Motor Vehicles. Call 855-422-7402 to learn more!
Proof of Income
The biggest eligibility factor in the approval process for a title loan is your ability to afford a loan payment each month. This ability influences whether you qualify for a loan and if you do, how much cash you may be able to receive. When you choose a loan option like ChoiceCash Title Loans, there are many documents you can submit to prove your income. These documents include bank statements, pay stubs, and more.
You may use a state identification card, driver’s license, or a U.S. passport to verify your identity for a car title loan. A military ID or another government/state-issued ID can be acceptable.
Photos of The Car
With loan options like ChoiceCash Title Loans, there is no need to leave your home to inquire about the cash you need. The necessary vehicle inspection can be completed while you’re sitting on the sofa at home! All you must do is snap some photos of your automobile and submit them with your paperwork during the inquiry process. Take clear photos of the back, front, and sides of the car as well as the odometer reading. A car title loan agent will evaluate them, and if your vehicle’s condition is suitable, you may be approved for the cash you need.1
Can I Apply for Florida Loans Without a 9-5 Job?
Without traditional income, it may be difficult to qualify for many Florida loans with bad credit. Luckily, you do not need to have a 9-5 to qualify for a car title loan!1 There are many ways to earn an income besides a traditional job. You may be self-employed or own a small business, and if that is the case, you can use your tax returns to prove your income.
Other forms of alternative income include:
1. Worker’s Compensation
2. Settlement Income
3. Disability or SSI Income
4. Pension Income
5. Retirement Income or Annuity Payments
Are Car Title Loans the Best Option for Florida Residents with Poor Credit?
ChoiceCash Title Loans can offer Florida residents with poor credit a different type of financial resource- a car title loan. Unlike traditional loan options, you do not need to have a perfect credit report to inquire about a car title loan with ChoiceCash Title Loans.1 By using your vehicle’s title as collateral, you could secure the cash you need to get back on your feet through a car title loan.1
Collateral can be a great way to get a loan. A car title loan is a secured loan through collateral, which can give a borrower some additional benefits they may not receive through an unsecured loan option. Some of the benefits of a secured loan include:
· Loans May Be Easier to Get Approval For1
· You Might Receive More Money Than You Would From an Unsecured Loan Option1
· Bad Credit is Not Always an Issue1
Can I Keep My Car If I Qualify for Florida Car Title Loans with Bad Credit?
Most Florida residents use their vehicles as their main source of transportation. If you are in that majority, you are likely concerned about the availability of your vehicle after you receive approval for a car title loan. You may be pleased to know that responsible borrowers retain access to their car throughout the repayment period! Keep your keys and your normal driving routine by simply paying off your loan on time each month. There’s no need to rely on ridesharing apps or friends to get you where you need to be every day.
What are the Benefits of a Car Title Loan in Florida if I Have Poor Credit?
If you are searching for the best way to apply for Florida loans with poor credit, your focus may be on your eligibility for cash. But did you know that there are more benefits to a title loan than just the cash you receive? With loan options like ChoiceCash Title Loans, there are many benefits that a borrower can take advantage of, including:
1. An Online Inquiry Process: If you are like most consumers, you prefer online shopping. So why not inquire about your title loan online? With ChoiceCash Title Loans, you can use your smartphone or computer to start your loan inquiry online from the comfort of your home. No need to leave your couch to get things done!1 Get started on your loan inquiry today by heading online, or give a loan agent a call directly at 855-422-7402.
2. A Faster Way to Get Cash1: When you’re faced with a financial emergency, you do not have time to spare. You need a loan option that can keep up with you! Qualified borrowers can get their cash in as little as 24 hours through a ChoiceCash Title Loan today.1 In fact, the entire approval process has been designed with speed and convenience in mind. It can take no time at all to inquire for a loan and see if you qualify for the cash you need!1
3. Payments Start Low and May Decrease2: Would you like to be rewarded for doing something as simple as paying back your title loan on time?2 With ChoiceCash Title Loans, there may be an opportunity for you to qualify for this reward.2 If you are a responsible borrower each month, you could get the chance to earn payments and interest rates that may decrease.2
Where Can I Find Florida Loans with Bad Credit Online?
Your search for the best Florida loans with bad credit online can be over! With loan options like ChoiceCash Title Loans, you can take advantage of a convenient online approval process that is made with you in mind.1
If you’re ready to find out if your car qualifies for the financial help you need, it’ll only take a few minutes!1 Get started on your car title loan inquiry through ChoiceCash title Loans today by completing these three simple steps:
1. Call or Click Online: Ready to see if your vehicle and income qualify for a car title loan? The first step is to simply submit a prequalifying inquiry form online or over the phone at 855-422-7402. Both options can take no time at all to get through!1
2. Send in Your Paperwork: If you have been prequalified, the next step is to submit your documents to verify your information. At this point, a loan agent can reach out and request that these documents be submitted online for your convenience.
3. Get Approved and Get your Cash1: Once your documents have been viewed, a loan agent can make an informed decision about your eligibility for a car title loan. If you are approved, the last step is to sign your loan agreement and choose how to collect your cash! Qualified borrowers can choose to collect their cash through a few different methods. You can choose between collecting a check in the mail, or visit a participating money transfer location nearby. Or, you can also have the cash deposited directly to your bank account. Borrowers who qualify for ChoiceCash Title Loans can receive their money in as little as 24 hours after loan approval, so why wait to see if you qualify for the financial help you need?1