No credit check title loans are one of the fastest and easiest loans to be approved for. The reason: Instead of a credit score the vehicle value is used to determine the loan amount. Essentially, your car is your credit. Title loans are secured by your car so, most of the time, no credit is needed. There are, however, title lenders that do run a credit check. Often this is not a hard inquiry, but a soft inquiry. If you are new to car title loans it is worth learning how car title loans work before proceeding with one.
Auto Title Loans No Credit Check
Can I get a Title Loan with Bad Credit? Auto title loans with no credit check are widely available. A car title loan is a short term loan secured by the vehicle. One of the advantages of a title loan is that your vehicle is your credit. Most title lenders do not require a credit check (Fast Title Lenders does not). This means you can qualify for a title loan with any credit. So yes, you can get a no credit check title loan with bad credit.
Title Loan Credit Requirements
As stated, most title loans do not require a credit check. This means the lender does not look at your credit report and you can qualify for a title loan with any credit. This includes:
- Bad credit
- No credit
- Ok credit
- Any credit
Some borrowers have a recent negative incident on their credit report that precludes them from other forms of financing. With a title loan, this usually does not matter. The vehicle is used to secure the loan so the risk of missing payments is mitigated by the secured interest in the vehicle. What this means is, the lender is willing to overlook the negative incident in the credit report because a default on the title loan the lender can repossess and sell the vehicle to cover the cost of the loan.
Bad Credit Car Title Loans
Car title loans for bad credit are very common. Most lenders do not check credit and those that do usually value the vehicle’s equity to make the loan. This means a bad credit title loan is easy to get approved for. Essentially your car is your credit.
Reasons for wanting a No Credit check Car Title Loan
Different borrowers have different reasons for wanting a title loan with no credit check. These reasons include:
- No hard inquiry – Some borrowers do not want a hard inquiry on their credit report. Hard inquiries remain on your report for up to two years, so minimizing them helps increase your credit score.
- Low credit score – Some borrowers have a low credit score which may have caused other loans to be denied. It is understandable that they do not want this to be the case with a title loan. The good news is lenders like us do not check credit.
- Privacy – Other borrowers prefer the privacy that comes with not having a credit check.
How do I get a No credit check Title Loan?
Getting a no credit check title loan is an easy process. Getting a bad credit title loan is the same as any other title loan since there is no credit check. Because there is no credit check, the lender will not know what your credit score is. This means they should treat you the same regardless of your credit history and credit score. To start the process, simply choose the best title loan company and submit an application. Choosing the title lender is the single most important part of getting a title loan.
The Best Deal on a Title Loan with no Credit Check
Just because your credit isn’t perfect doesn’t mean you should overpay for a title loan. In fact, because the lender does not look at your credit you should get the same interest rate as everyone else. This is how we operate at Fast Title Lenders. We treat all customers the same and give the same low rate. Our reputation is important to us which is why we are one of the reputable title loan companies in the industry. Our rate is a fraction of most lenders. Use our Title Loan Calculator to get a no credit check title loan estimate today.
Why is the Lender so Important?
Some Title loans, and more specifically, title lenders, have a bad reputation for good reason. Many lenders, including some of the largest lenders, treat their customers poorly, charge very high rates, and do not have good customer service departments. This can leave customers with higher than expected bills, excessive fees they were unaware of, and uncorrected issues. In some cases this can be the wrong repossessed car, a missing title, and no person to fix the problem. To find out how a lender treats their customers, read some of the complaints from the Better Business Bureau and Ripoff Report. These are more accurate representations than other online reviews. We discuss this in detail in our complete guide on how to get a title loan.
Another way to find out how a lender operates is to read some of the lender’s posts online. In 2016, Google severely restricting advertising by title lenders online. This led to an increase in Search Engine Optimization by some of the lenders with the lowest reputations. If you read one of their posts and it makes no sense, they are probably not the best choice.
Choosing the Best Lender
Finding the best title loan company should be a priority when shopping for a bad credit title loan or any title loan. Some lenders with poor reputation employ the following tactics:
- Charging very high interest rates
- Not disclosing all fees and costs
- Making loan agreements difficult to understand
- Aggressively collecting payments
- Making loans that are difficult to repay
- Repossessing cars with small balances
Finding a transparent, honest lender is the key to making sure your title loan is affordable and you do not lose your car. Spend some time, read about others experiences with the lenders, and make your decision.
No Credit Check Title Loan Payments
Regardless of your credit situation, making your title loan payments on time should be a priority. Your vehicle is collateral for the title loan. This means missed payments may lead to losing your vehicle. This means you will want to make sure you can afford at least the minimum monthly payment. Use our title loan calculator to find out different monthly payments for different loan amounts, interest rates, and terms.
Also make sure to find out how to make your payments before you sign the loan agreement. Most lenders allow convenient payment methods like online portals and debit cards over the phone, but not all do. Some lenders still require you to pay in person.
Getting a no credit check Title Loan – Next Steps
Moving forward with a no credit check title loan is easy. Simply find a lender that doesn’t check your credit and apply. Most lenders allow you to apply online so you should be able to do this quickly without leaving your home. To find out more about how to get a title loan and other information related to how title loans work visit us. At Fast Title Lenders we try to provide real, factual, actionable information that helps our customers make the best choice about a title loan. This includes a detailed explanation about how title loan interest works; which is essential to understand before entering into one.
No Credit Check Online Title Loans
For car title loans online with no credit check the process begins the same way; with an online title loan application. The application only takes a few minutes to complete and can be approved within minutes. You can qualify for an online title loan with no credit check with good credit, bad credit, or no credit.
A no credit check title loan, in most cases, is simply a title loan. This assumes the lender does not check your credit. Fast Title Lenders does not check credit, so customers with bad or no credit are treated the same as all customers. This includes Online Title Loans no Credit Check. If you’re interested in learning more about our title loans simply visit our site our feel free to get a title loan quote at any time.