How Do Title Loans Work If I Have Poor Credit?

How do title loans work if I have poor credit? And will I be able to get one my credit score is low? These questions are likely to pop up in your mind if your application for a bank loan has ever been rejected due to the credit history issues.

Being saddled with poor credit means many types of loans are out of reach. Another side effect could be problems getting an application for a rental space approved. However, that’s not necessarily the case with title loans offered by Missouri Title Loans, Inc. Here's what you need about how title loans work at Missouri Title Loans, Inc. if you have bad credit.

How Do Title Loans Work? What To Know About This Loan

How Do Title Loans Work To Help Me?

If you’ve ever had to deal with a financial emergency, you know the unexpected toll can take on your life. Having a hefty emergency room visit, a needed car or home repair, or paying for last-minute but necessary travel tend to be hefty expenses that make a major dent in your financial wellness. How do title loans work to help you out? They’re designed as options for short-term financial relief for short-term financial emergencies.

By using your vehicle’s title as collateral, you may be able to receive a title loan of up to $15,000 for your financial emergency through Missouri Title Loans, Inc. In Missouri, during your title loan, you are able to keep your car. And the best part: It doesn’t take much to qualify for a title loan — even if your credit is a bit shaky.

How Do Title Loans Work With My Credit?

At Missouri Title Loans, Inc., we are committed to offering title loans for those who need them the most and are living with a variety of financial situations. While having bad credit usually makes obtaining any type of loan almost impossible, all types of credit are welcome at Missouri Title Loans, Inc.

Bad credit is not a problem when you start going through the title loan process. Additionally, Missouri Title Loans, Inc. does not report the title loan to credit agencies. Bankruptcy is frequently associated with those who have long-term bad credit, but you may still qualify for a title loan if your bankruptcy has been discharged.

how title loans work with poor credit

How Do Title Loans Work For Those Who Are Unemployed?

You do not need to be employed to qualify for a title loan at Missouri Title Loans, Inc. What you need is minimal:

  • You must be at least 18 years old.
  • A driver’s license or state-issued I.D.
  • Your vehicle for inspection (it’s how we determine the amount of a title loan you may qualify for).
  • A lien-free title in your name to your vehicle. Lien-free, also known as “clear,” means you own your car outright, without judgments against it.

How Do Title Loans Work If I Have a Limited Amount of Time?

A pressing financial emergency requires quick action. At Missouri Title Loans, Inc., it can take as little as 30 minutes from start to finish to qualify for one of our title loans. We also make the experience as hassle-free and convenient as possible.

Here’s how it works:

  • Either visit one of our Missouri locations near you or fill out the car title loan online form on our website. You’ll be providing basic personal information that will be kept confidential.
  • A Missouri Title Loans, Inc. representative will call you within minutes of submitting your form. If you’re at one of our locations, the representative will review your documents. At this stage they will be able to answer any questions you may have about title loans and briefly discuss some of the common terms and conditions.
  • Gather the required title loan materials and drive to one of our locations — or have the loan representative meet you at the location of your choosing.
  • Your items will be reviewed, and a quick inspection will be made of your vehicle to determine how much of a title loan you may qualify for.
  • If you qualify, are approved, and agree to the terms and conditions of the title loan, you will receive your title loan cash that same day or the very next business day. That’s it!

woman applying for a title loan at home

How Do Title Loans Work If I Want To Get Started Today

How do title loans work? They work for you right away. At Missouri Title Loans, Inc. we offer an option for those having difficulty with a range of short-term financial emergencies and want to get it resolved quickly and easily.

Even with poor credit, you may qualify for same day title loans of up to $15,000. So, give us a call, visit one of our locations, or start the process online today. Poor credit should not be a deterrent to getting back on the right financial track.

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.

Mason Roberts

Mason Roberts is a seasoned economics writer and blogger with a knack for breaking down and simply communicating the ever-changing world of finance. He is philosophically committed to the premise that financial knowledge equals financial freedom.