The Car Repair Loans That Bad Credit Borrowers Are Qualifying For

November 19, 2021 | Daniel Dewitt

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For those who need car repair loans, and prioritize accessibility and swiftness of the process, car title loans are something worth looking into. What makes Carolina Title Loans, Inc. a competitive option among options for car repair loans is that they have a straightforward quick process and we welcome clients of all credit types. Yes, that means you can qualify for a title loan with bad credit.

What Makes It Possible To Qualify For Car Title Loans With Bad Credit?

A car title loan South Carolina is a secured type of loan. Secured loans require a borrower to provide the lender with collateral during the loan repayment period. This allows lenders certain flexibility in their qualifying requirements since collateral protects their assets from the get-go.

In the case of our title loans, we are using your vehicle’s lien-free title as collateral. The loan amount you qualify for has nothing to do with your income either. It’s determined by the value of your car. As the car title stays with us, the money we loan you is protected, and we can approve you regardless of what your credit looks like.

What Do I Need To Qualify For Car Title Loans?

So what do you need to prove you’re eligible for a title loan, if not good credit? We here at Carolina Title Loans, Inc. have simplified the qualifying requirements and cut the list down to a minimum. You need just three items:

  • A state-issued ID or driver’s license to verify your identity and prove you’re over 18, as minors are automatically ineligible for a title loan;
  • Your car for inspection since the maximum loan amount will be determined based on the model’s price as mentioned in a nationally recognized pricing guide and its overall condition;
  • The car’s lien-free title in your name to prove ownership and act as collateral for the duration of the loan repayment period.

Keep in mind that your title must be lien-free and in your name. This means if there are any outstanding financial obligations placed against it, or if it’s not in your name, it will not qualify as collateral. Make sure your title is clean and transfer it to your name at the local DMV if it’s in another person’s before you start the process.

What Should My Minimum Income Be?

There’s no minimum set income amount when it comes to title loans with us. If your quest for car repair loans has been hindered by your non-standard and/or precarious income situation, it’s not likely to hinder you here.

Again, car title loans are determined and secured by the value and title of your vehicle. You don’t need to jump through extra hoops to prove your repayment ability. Any means you choose to make your loan payments, we can discuss further during the meeting.

Won’t I Have To Leave My Car With Carolina Title Loans, Inc.?

Us keeping the borrower’s car during the loan repayment period is a misconception many first-time borrowers seem to share. Obviously, this would negate their use as car repair loans if we would take the owner’s access away to have said repairs done until the loan’s paid off. Instead, the car stays with you and you’re free to use it the same as before. It’s the title that stays with us, and once the loan is fully repaid, it goes back to you.

 

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How To Get A Car Title Loan

You can easily get started comfortably sitting on your couch since all you need is to spare a few minutes on filling out an online form on our website. The form will send the information to our nearest branch, where one of our loan representatives will take over and give you a call.

They’ll provide the necessary information about the process and arrange a meeting with you. The meeting can either take place at the nearest auto title loans near me or you can give the loan representative a location of your choice and they’ll meet you there.

Either way, they’ll need to inspect your car to determine the maximum loan amount you qualify for and examine your documents to see that you satisfy all the qualifying requirements. If they approve you, they’ll help you finish the final paperwork, and you’ll get the cash you qualified for on the next bank business day at the very latest.

Get The Car Repair Loans You Need Today

We understand that people looking for car repair loans often need cash on very short notice. Our car title loans process has been designed to be simple and quick for the busiest of clients. The entire application procedure takes, on average, only around 30-45 minutes from the time we meet. Fill out the online form now to get started.