How To Get A $2,000 Loan With Bad Credit (Even With A 500 Score)

Getting a $2,000 loan for bad credit can feel impossible. Home repairs, medical bills, and auto repairs can come out of nowhere without any time for you to save money. If you’re facing a financial emergency and have bad credit, a title loan could offer the help you need. A car title loan can serve as a quick emergency loan when time and credit are tight.

This guide from Missouri Title Loans, Inc. will explain everything you need to know about getting a $2,000 cash loan using your car title. We will review what requirements you need to meet, how the approval process works, etc.

How Can You Get Title Loans For Bad Credit?

If you haven't needed to apply for emergency funding before, you may not have heard about title loans, but these alternative loans from us at Missouri Title Loans, Inc. are your ticket to the $2,000 you need. For example, if your car breaks down and you can’t wait until payday, a title loan could cover your repair costs in under 24 hours.

You can get approved for a Missouri car title loan if you own your car outright and your title has no outstanding liens, debts, or judgments. As promised, you don't need a good credit score to acquire a title loan. Since you use a car title to secure the loan, you do not need to prove your creditworthiness.

$2,000 isn't your limit, either! Loan amounts may reach up to $15,000, depending on your vehicle’s value. The more it is worth, the more you can borrow. Borrowers also only need a few items to get approved!

3 Items You Need To Get A Car Title Loan

While you don't need a good credit score to get a $2,000 title loan, you do need to meet a few requirements. Thankfully, you will only need three items to meet the requirements. As long as you can verify your identity, age, lien-free car title, and car value, you can receive your emergency cash within one business day!

The following are the three required items you need for a car title loan in Missouri:

#1. Lien-Free Vehicle Title

You must provide a vehicle title as collateral to get approved for a title loan. We only accept lien-free vehicle titles because they prove you don't have any outstanding liens or judgments against the vehicle and own it outright. We place a lien on your title to secure the title loan, and we can't do that if you already have one in place.

Keep in mind that the vehicle title must be in your name. If it isn't, you will need to go to your local DMV office and request a title transfer. Once that is complete, you can acquire a title loan.

#2. Driver's License

Getting approved for a title loan requires you to prove your age and identity. Borrowers are only legally able to borrow money through a cash loan when they are over 18 years old. The easiest way to prove your identity is with a state-issued ID that displays your full name, age, and picture.

Most of our customers use their driver's license as proof of identity. However, you can choose any form of identification that displays your date of birth, full legal name, and your portrait photograph, such as your military servicemember's ID card, student ID, or passport. All documents must show the same legal name to process your application.

#3. Vehicle For Inspection

During an in-person meeting, we will need to inspect your vehicle to determine how much you can borrow. You must use the vehicle attached to the vehicle title you use as collateral. We accept cars, trucks, or vans, but not motorcycles, buses, tractors, boats, trailers, ATVs, or other modes of transport.

The following are the factors that can influence what your vehicle is worth:

• Service history — Cars that have been looked after are worth more than those that haven't been. If it comes with a complete service history, you can expect the vehicle to have a higher value than those without a full, evident service history.
• Make and model — High-end brands are worth more than run-of-the-mill makes and models. If you own a BMW, Mercedes, Tesla, Land Rover, or other luxury make, you are more likely to qualify for the higher loan amounts.
• Odometer reading — Average mileage is between 10,000 and 12,000 miles per year. Low mileage is anything below 10,000 miles per year, and high mileage is anything above 12,000 miles per year. As long as your odometer reading lies within the average mileage range, you won't have to worry about it adversely affecting your car's value.
• Condition — Cars in better aesthetic and mechanical condition are worth more than those that aren't. We take everything into account when assessing its value, including scratches, electrical failures, stained interiors, bumps, and cracks.
• Modifications — Aftermarket modifications, such as spoilers, decals, exhausts, and custom paint jobs, often reduce your vehicle’s value. For best results, remove modifications before attempting to get a vehicle title loan.

While a high-value vehicle can allow you to borrow thousands, you should only borrow what you need. If you need $2,000 but get approved for $10,000, only borrow what you need to help with title loan repayment.

How To Get A $2,000 Cash Loan In Missouri

Do you meet the requirements above? You can start the process with Missouri Title Loans, Inc. Our process is simple and only requires you to complete a few steps. You can start the process in minutes online, but you will need to complete the process in person at one of our Missouri store locations.

The following is how to get a $2,000 title loan for bad credit with Missouri Title Loans, Inc.:

1. Complete the online application found on this website. Since we also offer installment loans, double-check that you're completing the right one before continuing. You will need to provide your full name, contact information, zip code, and vehicle details.
2. After submitting the form, wait for one of our representatives to call you. They'll be based at your local Missouri Title Loans, Inc. store. During the phone call, we will confirm all of the essential details about title loans to ensure you understand how to get approved. After answering your questions, we will set up an in-person meeting at one of our Missouri stores.
3. Gather your required items and head to the nearest Missouri Title Loans, Inc. store. Once there, we will look at your documents and inspect your vehicle to establish how much you qualify for. You can complete the in-person process in under 30 minutes.
4. If you are happy with the amount of money we can offer you, we will show you where to sign the paperwork to confirm that you agree with the terms and conditions.
5. Finally, you will receive the amount of money you qualified for later that day or the following business day.

Get A $2,000 Title Loan for Bad Credit In Missouri – Borrow Up To $15,000 Today!

Even with bad credit, you could still get approved for a $2,000 emergency loan in Missouri. Get approved for a $2,000 cash loan with us today! The entire process can take less than 30 minutes, and you can access your urgent funds within a business day.

Start your title loan process today and get up to $2,000 in emergency funds—often on the same day. Fill out the online form now to speak with a local loan expert.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.