Do you have bad credit and need fast cash to get back on your feet? The application process for a title loan can be flexible and fast since your car’s title is used as collateral to secure the loan. Even if you have bad credit, qualifying for a title loan can be simple if you meet the loan criteria and provide paperwork to verify your information. Keep reading to learn more about the requirements for ChoiceCash title loans for bad credit today and explore all aspects of the loan, including the application process and the pros and cons of vehicle-secured loans.1

Understanding Title Loans for Bad Credit

title loans for bad credit

Qualifying for a traditional bank loan may be challenging if you are one of the millions of Americans with bad credit. Lenders use credit scores to determine your creditworthiness, which is the measure of your ability to take on additional debt and meet your current debt obligations. A lower score indicates that you may not be less likely to repay your loans, credit card balances, or other debt obligations. If you have subprime credit, getting approved for a personal loan and receiving a low interest rate is difficult.

Raising your credit score is important, but you cannot afford to waste time if you are experiencing a financial crisis. Improving your credit score is an admirable goal that will not happen overnight, and there are no “quick fixes” to getting your credit report on an upward trajectory.

When you need emergency cash to handle unexpected expenses, car title loans for bad credit are a fast solution. This type of secured loan is known to cater to individuals with poor credit histories who may not be eligible for unsecured loans. Even if you have a past bankruptcy on your credit report, you may still be eligible to access the financial help you need through a title loan. Since your vehicle’s title is used to secure the loan, the application process can be flexible, and your past financial challenges can stay in the past.1

Requirements for Auto Title Loans for Bad Credit

Although your credit history is considered during your application, title loan lenders are primarily interested in your vehicle’s value and your ability to repay the loan. It is possible to secure a title loan with bad credit if you have a vehicle with sufficient positive equity, have proof of your ability to handle your title loan payments, and meet the other requirements, which include the following:1

  1. Provide Documents to Verify Your Information and Vehicle Ownership
  2. Be of Legal Age to Apply for a Car Title Loan

While the specific documents you will need to obtain a title loan for bad credit may vary from lender to lender and can change depending on your state of residence, you will typically need the following during the underwriting process:1

  • Valid, Government-Issued Photo ID, Such as a Driver’s License or a U.S. Passport
  • Vehicle Title in Your Name
  • Mortgage Statements, Utility Bills, or a Recent Lease Agreement to Prove Your Current Address
  • Bank Statements, Pay Stubs, or Another Qualifying Document to Prove Your Income
  • Recent Photos of the Interior and Exterior of Your Vehicle

When applying for a ChoiceCash title loan for bad credit, you can conveniently submit your documents online or send everything to a title loan officer through email or text message.1

Apply for Title Loans and Get Cash with Bad Credit

Don’t let bad credit stand in the way of applying for the financial help you need. With ChoiceCash title loans serviced by LoanMart, you can access a flexible application process that was designed to be efficient and quick – even if your credit history isn’t ideal! Take a closer look at the fast, three-step process to secure cash with bad credit through a title loan:1

Fill Out an Application Online or Over the Phone

Complete an online prequalification form or dial 855-422-7402 to get started on your application. You’ll be asked to provide basic information during your loan request, such as your name, state of residence, and your vehicle’s make, model, style, and current mileage.1

Submit Your Paperwork

After you complete the prequalification form and receive initial approval, a title loan representative will ask you to submit the necessary documents to verify your identity and other information.1

Receive Your Funds

Once your documents have been fully reviewed for completeness and you obtain final approval, you can choose how to get your money! If you decide to receive your money via direct deposit or have your funds added to a debit card, it’s possible to access your money in as little as 24 hours. You also have the option to receive a check in the mail or pick up your cash at any participating money transfer location.1

How Much Money Can I Get Through a Title Loan for Bad Credit?

title loans with poor credit

As mentioned above, the focus of your application is centered around your income and the value of the car, truck, or SUV you will use as collateral for the loan. Both of these factors affect your eligibility for a bad credit title loan and determine your total loan amount.1

Depending on your state of residence and other aspects of your title loan application, you can receive up to half of your vehicle’s value through a bad credit title loan. Use ChoiceCash’s online title loan calculator to get a loan quote with no obligation today.1

Understanding the Risks and Benefits of Getting Title Loans with Bad Credit

Auto title loans can provide a lifeline when you’re drowning in debt, unexpected expenses, or are facing other financial emergencies. While accessing quick cash can provide peace of mind and help you navigate a financial crisis, it’s important to be aware of the potential risks involved with vehicle-secured loans.

One of the main potential consequences of bad credit title loans is repossession. A car title loan is secured through collateral, so failing to keep up with your loan payments may result in the lender repossessing your car. The simplest way to avoid repossession is to prioritize paying off your title loan, creating an effective budget, and communicating with your title lender if you can’t stay on top of your loan payments. Title lenders are more willing to work with you if you reach out to them before you default on your loan, not after.
While there are some potential disadvantages involved with title loans, there are also benefits to consider before you submit an application. By obtaining a title loan and making your payments on time, you have the opportunity to improve your credit score if your title lender reports your payment behavior to one of the major credit bureaus like Experian or TransUnion. A higher credit score can open up doors to better financial opportunities in the future! Bad credit title loans also come with additional benefits, such as fast access to cash! If you need quick financial help to get back on your feet, a title loan can be the answer.1

Benefits of Choosing ChoiceCash title loans with Poor Credit Today

If you need a title loan with bad credit, look no further than ChoiceCash title loans serviced by LoanMart. Below are some of the advantages you can experience if you qualify for a ChoiceCash title loan serviced by LoanMart:1

  • Easily Apply Online or Over the Phone: You can find out if you qualify for title loans with bad credit without visiting a store! Applying for the financial help you need should not be a hassle. Call 855-422-7402 to speak with a ChoiceCash title loan agent or fill out a short prequalification form online.1
  • Competitive Interest Rates: Qualified borrowers with bad credit can access competitive interest rates through ChoiceCash title loans serviced by LoanMart.1
  • No Prepayment Penalties and Flexible Payment Options: You don’t have to worry about prepayment penalties or hidden fees when repaying a ChoiceCash title loan! Paying back your title loan is as simple as setting up automatic payments from your bank account, paying online or over the phone, sending a check in the mail to the payment center, or visiting a participating money transfer location to pay in person.1

Frequently Asked Questions

What are the Alternatives to Title Loans?

Payday loans are another type of alternative loan option, but they typically come with high interest rates and fees that can be tough to handle. Qualified borrowers can access competitive interest rates through ChoiceCash title loans serviced by LoanMart!1

What’s the Lowest I Can Get for a Title Loan with Bad Credit?

Qualified borrowers may receive anywhere from 25-50% of their car’s total value through a car title loan. However, if you qualify for a title loan with bad credit, you do not have to take the entire amount you are eligible for.1

Can You Get a Loan With a Low Credit Score?

Yes, it is possible to get a title loan with a low credit score. In order to obtain a title loan, a borrower must pledge their vehicle as collateral. Because collateral is used to secure the loan, an applicant can apply for a ChoiceCash title loan without a perfect credit history.1

What Do I Need for Title Loans With Bad Credit?

To qualify for a title loan with bad credit, you must meet the initial criteria. You must be at least 18 years old, have a qualifying vehicle title in your name, and be able to provide proof of income / alternative income.1

Do Title Lenders Check Your Credit Score?

Typically, a credit check is an important part of the title loan application process. But, other factors, such as the value of your car and your income, can be more important during the approval process. It is possible to qualify for a car title loan with bad credit!1

Caro H.
Caro H.
Caro H. graduated from Elmhurst University in 2016 and received a BA in communications. In the past, she has authored financial and marketing content for multiple Fintech companies and real estate agents. She is currently responsible for managing the ChoiceCash content team. Although she produces engaging content for the financial education blog in her spare time, her primary focus is overseeing the article creation process to ensure the information is accurate, intelligible, and meets the strict editorial guidelines in place.