Is It Possible to Acquire Title Loans with No Credit Check?
Financial emergencies can come and go unexpectedly, but you may not be ready when they arrive. If they do, nothing beats the relief that comes with accessing the money you need right away. Thankfully, you may have several loan options available that could help you in this situation. However, you may not qualify for many unsecured loan options if you have a low credit score.
Simply put: lenders will use your credit history as a guide to see if you are a risk to lend to. The lower your credit score is, the more of a risk you are. It’s frustrating when you need help to cover your expenses and cannot find a financial resource willing to give you access to funding.
If you are looking for online title loans with no credit check required, you may be surprised to know that credit is not the most important part of the title loan approval process!
Learn more about the value of credit checks and why you do not need perfect credit to qualify for a title loan!¹
Is a Credit Check Required to Get Money for Online Car Title Loans?
It’s important to note that if you want to obtain cash through a title loan, you must undergo a credit check. But don’t stress! Even if you have bad credit or previously filed for bankruptcy, you may still qualify for a ChoiceCash title loan.¹
Credit checks are necessary when acquiring any form of financial assistance, and they are tough to avoid. But if you’re worried about credit disrupting your title loan eligibility, know that it’s not the main focus during the approval process. Instead, title loan lenders focus more on your car’s value and your ability to make monthly payments!¹
Keep in mind that when you apply for an auto title loan, your credit would go through a hard inquiry check. That happens at the end of the loan process, which may affect your credit score by a few points. Yet, you could see it improve with time and effort on your part.
If your credit score is less than ideal, you may think you must avoid a credit check at all costs. However, with a secured loan, your credit is not the most important part of the approval process, although it is considered. Don’t spend time searching for online title loans with no unnecessary credit check required.
What you may not know is that having bad credit will not always stop you from qualifying for the cash you need! Speak with a ChoiceCash title loan representative at 855-422-7402 for further details.¹
How Do Online Auto Title Loans with No Credit Check Work?
Borrowers can secure online title loans through collateral, which in this case, is their vehicle title. This collateral makes the approval process flexible and assumes the risk of lending to a borrower without a strong credit history.¹
Essentially, a borrower could use their car’s title instead of their credit history to qualify for money! With a title loan, these two factors will matter the most during the inquiry process:
- The Value of the Car
- The Borrower’s Ability to Pay Off Online Car Title Loans
While title loan lenders will still check your credit during the approval process, it will not be the focus. You may still have the chance to qualify for emergency cash even if you have a bad credit history!¹
The main eligibility factors are the car’s equity and the borrower’s ability to afford a loan. The borrower’s loan amount will also depend on those two factors; the more a vehicle is worth, the more significant a loan amount could be!¹
Do you feel like title loans are a suitable option for you? Go online to start your inquiry process for a ChoiceCash title loan today!
What Documents Will I Need to Apply for Online Title Loans with No Credit Check?
While title loans may be one of the most flexible loan options to apply for, you must have a few documents handy. Luckily, these documents will likely be ones you have lying around your house, car, or mailbox! Even better, you can submit them online via fax or email for your convenience.
The required paperwork can help a ChoiceCash title loan agent verify your information and speed up the approval process! Once ready, you can expect to submit the following:¹
- Proof of Reliable or Alternative Income: Borrowers wouldn’t need a traditional occupation to satisfy this requirement. You could simply use various alternative forms of income to prove your ability to repay an auto title loan, such as: pay stubs, settlement income, Social Security/Supplemental Security Income, bank statements, retirement income, worker’s compensation, pension income, or even a letter of employment from your employer!
- Proof of Address: A title loan agent will ask for you to show proof of where you currently reside. To prove that, you could use several documents, such as: recent credit card statements, mail, phone bills, mortgage statements, utility bills, rental/lease agreements, etc.
- The Title to a Qualifying Car in Your Name: Your vehicle title must be in your name for you to use it as collateral. Don’t worry if you happen to share a name on it, as you could still qualify for a car title loan. If there is an “AND” in between both names, all parties must send documents separately; but if there is an “OR” in between, either you or the other member could do the title loan process unassisted. Talk to a title loan representative if you have lost or misplaced your title, as they could help you find out how to replace it with a new one. You may still be able to qualify for a car title loan if you are financing your vehicle!1 If you’re still making payments on your car, the title loan lender may ask you to complete and sign a form authorizing them to pay off your existing car loan. Then, the remaining balance of your car loan will be added to your new car title loan if you are approved.
- Proof of a Valid, Government-Issued Identification: Borrowers must use a valid, government-issued photo I.D. card to prove their identity to a ChoiceCash title loan agent. It could be your passport, driver’s license, or other certified state identification cards.
- References: You may have to present a few contacts to a ChoiceCash title loan agent. These could either be personal, professional, or both. Generally, people will use their friends, family, or even coworkers as references.
After you submit the documents through the online portal, you could quickly move on to the final step of the loan process: collecting your cash if you qualify for an auto title loan!¹
What Does a Car Inspection Entail for an Online Auto Title Loan with No Credit Check?
A vehicle inspection is another essential aspect of the approval process for an online title loan. While that may sound inconvenient, it is not the case with a ChoiceCash title loan. Don’t worry about wasting gas money and physically traveling to an office for this requirement since you can do it online!¹
Curious about how an online inspection works with a ChoiceCash title loan? It’s pretty simple! You would only need to take clear and visible pictures of your vehicle and upload them online. Make sure you cover every angle of your car, including its:¹
- Driver’s Side Door
- Passenger-Side Door
- Vehicle Identification Number (VIN #)
- Odometer Reading(Usually Located Close to the Speedometer)
With these photos, your car’s current condition can be evaluated. Remember, if you want to obtain a considerable loan amount, your car must have plenty of positive equity, and you must have the right income to support that total. So if you maintain your vehicle in good condition, it could potentially possess plenty of value!¹
The following conditions affect your car’s equity:
- How Much You Owe on the Vehicle, if Anything
- The Current Mileage Listed on the Odometer
- The Make, Model, and Style of Your Car
- The Year a Manufacturer Released Your Vehicle
Typically, borrowers could access up to 50% of their car’s equity through a title loan! But if you’re like most borrowers, you may not know much about your vehicle’s current equity. Fortunately, there is an online calculator tool available for ChoiceCash title loan borrowers to quickly acquire an estimate with a quote, free of obligation! Dial 855-422-7402 if you need further assistance.
What Happens to My Vehicle When I Qualify for Online Title Loans with No Credit Check?
Be aware that title loan lenders will place a lien on your title after you obtain your funding. This lien will be removed once you pay off the loan in full.
People that qualify for a ChoiceCash title loan could enjoy some exclusive advantages, such as keeping their cars during the repayment process! You could continue to drive your car as long as you make on-time monthly payments!¹
With a ChoiceCash title loan, there are several payment methods that borrowers can choose from:
- Set Up Automatic Payments with Your Bank Account
- Pay Online Through the Online Portal
- Send Checks in the Mail to the Payment Center
- Pay via Phone
- Visit Any Participating MoneyGram Location Nearby
How Much Cash Can I Acquire Through Online Auto Title Loans with No Credit Check?
The amount you can borrow through online title loans will depend on a few factors:
- Your Level of Income
- The Amount of Available Positive Equity in Your Vehicle
As you may know, the average amount you could access is up to 50% of your vehicle’s value; that means you might get anywhere from $1,000-$10,000! Go online to inquire about a ChoiceCash title loan today. You may receive your desired cash in as little as one business day if you qualify!¹
Are There Any Risks Involved with Getting an Online Title Loan with No Credit Check?
Although online car title loans could come with benefits, you may wonder if they have disadvantages. Unfortunately, a title loan could have some potential risks like any other loan option you may apply for. Yet, you can potentially avoid those risks if you’re a responsible borrower!
Some disadvantages of an auto title loan include:
- Losing Your Car to a Repossession: Title loan lenders can repossess a borrower’s vehicle if they fail to repay a loan. However, most lenders prefer to avoid that consequence since it can be expensive to arrange a repossession. Instead, an auto title loan lender would rather find an alternative solution with you. For example, if you talk with your lender and work out a compromise, you could get the chance to make a payment within a grace period. Don’t forget to make consistent payments each month to steer clear of repossession.¹
- Damaged Credit: Failure to meet your payment obligations each month could negatively affect your credit report. But that’s true for any loan you apply for! Payment history, which is paying back your loan on time, is part of a huge percentage of how your credit score is calculated. Avoid defaulting by making on-time payments. You can also choose to set up automatic withdrawals from your bank account.
What is the Inquiry Process Like for Online Auto Title Loans with No Credit Check?
The inquiry process for online title loans with no credit check doesn’t need to be complicated! In fact, a ChoiceCash title loan could offer borrowers a quick, three-step approval process known for its speed and efficiency.¹
You can expect the inquiry process to be like this:
- Submit a Loan Inquiry: You could complete this loan step online or over the phone with a ChoiceCash title loan representative at 855-422-7402. If you qualify, simply answer a few questions about your vehicle and income to move forward in the inquiry process!¹
- Send Your Required Documents: Quickly deliver your documents online via email or fax! Through that method, you could receive an approval status in no time!¹
- Collect Your Funds After Approval: If you qualify for an online title loan, the next step is to choose how to get your cash and sign your loan agreement! With a ChoiceCash title loan, approved borrowers can choose to pick up their funds at a participating money transfer location nearby. They can also opt to receive a check in the mail or set up a direct deposit to their bank account. Or, get your funds put into your debit card.
Where Can I Apply for Online Title Loans with No Credit Check?
Ready to apply for online title loans? Get started by inquiring about a ChoiceCash title loan today! You would only have to:
- Go Online and Fill Out a Short Inquiry Form
- Or Call a ChoiceCash title loan agent directly at 855-422-7402!
It can take no time at all to see if your vehicle qualifies for cash! Don’t let your bad credit history stop you from getting the financial help you need.¹