Can You Still Get Car Title Loans With Bad Credit?

Banks set high requirements for personal loans. Most of them will require you to have “Good” or “Excellent” credit—which means having a FICO score of 670 to 850. If you fall short of that score, you will either need to show additional financial or income documents or find someone who’s willing to co-sign your loan.

However, there are many easier and faster ways to get a personal loan. You can apply for car title loans with bad credit, and even complete the process on the same day. So, if you need to find money for an urgent expense, just read on: we’ll explain how you can get a title loan, and then personally help you with each step.

Can I Get A Car Title Loan With Bad Credit?

To fully understand the answer to this question, it’s important to understand the basics surrounding it.

car title loans with bad credit

What Is A Title Loan?

A title loan is a personal loan where you use your vehicle title as collateral. No that does not mean that you have to sell your car or surrender it to the lender—it’s still yours, and you can still keep using it while you’re paying off the loan.

Instead, you are just using your vehicle title as security or guarantee for the loan. It shows that you’re committed to making the payments on time and that you have a way of covering the loan amount.

As part of this agreement, the lender places a lien on the title loan. A lien simply means a legal claim and is common in many types of loans. For example, when you took a car loan to finance your vehicle, the bank also placed a lien on it until you were done with the monthly amortizations.

Benefits Of A Title Loan

  • No credit score requirements. You can apply even if you have bad credit or a short credit history (also called a “thin credit file”).
  • Higher loan amounts. You can borrow up to $15,000 based on your vehicle model, age and mileage, the appearance of interiors and exteriors, and working condition. So, if you need to raise a relatively large sum, then car title loans with bad credit are a much more feasible option than payday loans.
  • Less paperwork. You don’t have to present your financial information (income, employment record, credit report, bank accounts, etc.). This means you spend less time gathering documents and having them notarized.
  • Faster approval. The fewer documents, the fewer requirements, and the faster you can get your money! In fact, Missouri Title Loans, Inc. can review your application in as little as 30 minutes and then quickly tell you if you’re approved.
  • Faster payout. You can get the money the same day or the next day after you’re approved. So, if you need emergency cash ASAP, then car title loans with bad credit are the way to go.

How Do I Get Car Title Loans With Bad Credit?

Missouri Title Loans, Inc. has made it even easier to get a title loan. We designed our title loan process to be as short, simple, and convenient as possible.

The Requirements

You just need three things to apply for car title loans with bad credit: a vehicle title, a government-issued ID, and a vehicle inspection. Let’s go through these items one by one.

  • The vehicle title. You can use any car or truck to get a title loan, as long as it is registered under your name and does not have any current liens, legal claims, or court judgments.
  • Government-issued ID card. This can be a driver’s license, passport, military ID, student ID, etc. The ID should be valid and have your picture. The name on the ID must also exactly match the name on the title, so if there are any clerical errors you need to have that rectified before you begin your loan application.
  • Vehicle inspection. This is a quick visual check of your vehicle—model, age, mileage, working condition, and appearance—in order to determine the loan amount you qualify for.

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The Process

We know your time is valuable. So, our title loan process takes just 3 steps, and all of that combined can take less than an hour. It’s one of the most efficient ways to get car title loans with bad credit!

1. Inquire through our online form

We never keep you waiting, even when you’re just inquiring about the loans. Instead of calling a hotline and being put on hold, you just have to fill out the inquiry form to request a call from one of our loan representatives.

Soon after, the representative will call you to explain more about how you can get car title loans with bad credit and answer any questions you may have. Then, he or she will book an appointment for you at the nearest branch.

2. Show requirements

Go to the branch with your vehicle title, valid government-issued ID, and your vehicle for the inspection. A loan representative will immediately attend to you and quickly go through these items to see if you qualify and how much you can get. This entire step can be completed in as little as 30 minutes.

3. Get your cash

Once you're eligible for a title loan with us, you'll receive the money on the same day or the next business/banking day.

Get Your Title Loan Now!

Now you can see that at Missouri Title Loans, Inc., bad credit does not disqualify you from getting a title loan. As long as you have a lien-free vehicle title, state-issued ID, and the vehicle available for inspection, you can get started now! Don’t let a low credit score discourage you from getting a loan. Talk to us about how you can get car title loans with bad credit.

Want to know more? Increase your knowledge of credit and debt here!

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

June Mckaig

June Mckaig writes articles on finance and budgeting, hoping to provide insight amidst the overwhelming crowds of information on the internet. She feels that with all this accessibility comes a lot of false data, and she would like to contribute astute, helpful input that she knows can help others. If you would like to learn more about June's research, read more here.