Most people worry that their credit score will stop them from getting a loan, but that’s not the case with Carolina Title Loans, Inc.! Here, you can qualify for a title loan no matter if your credit is good or bad. This easy-to-follow guide will help you find out how title loans work and how you can submit a loan application immediately!

 

What Loan Options Can You Get With All Credit Types?

When you first learn finance basics, you likely heard that you need perfect credit to get a loan. That couldn’t be further from the truth!

Suppose you’re looking for a helpful loan option but have less-than-perfect credit. In that case, one option you can consider is a title loan. You can apply for this type of loan no matter if your credit is good or bad as long as you satisfy its short list of requirements.

As the name suggests, this loan option is one that involves your car title. More specifically, it enables you to use your car title as collateral to secure a loan of anywhere between $601 and $15,000 through a quick and easy application process.

While owning the car authorizes you to use its title as collateral, the amount you could qualify to borrow will depend on the value of that car. That’s why a part of the application process includes a physical inspection of the vehicle to assess its condition and overall value.

Still, you get to keep the car if your application is approved, making this loan option all the more convenient. That means you won’t have to disrupt your daily routines, like commuting to work or taking your family around, just to apply for one of these loans.

How Do You Qualify For A Title Loan?

Title loans are popular for more than just being accessible to people with all types of credit. Besides that, they’re also popular among borrowers because of their relaxed requirements.

Here’s what you’ll need to qualify for a title loan:

• 18 years old: For starters, you must be an adult of at least 18 years old to apply for one of these loans.
• Valid identification: Next, you must be able to provide valid identification in the form of a driver’s license or another state-issued ID. Your ID is necessary to verify who you are, how old you are, and whether or not you own the car title you’re using.
• Lien-free title: Of course, the highlight here is the car title. Yours must be registered in your name and lien-free or ‘clear’. That means you own the vehicle outright, aren’t still paying for a loan on it, and have no outstanding judgments against it.
• Car ready for inspection: Lastly, you must have the car with you for a physical inspection. This inspection will only take a few moments when you meet a loan representative in person. Once it’s done, you get to drive the vehicle home and keep it.

These requirements are quite relaxed compared to some other kinds of loans. Better yet, getting all the items shouldn’t take long, allowing you to start your application fast. 

What Does The Title Loan Application Process Look Like?

You’ve likely read or heard that loan applications are long and complicated. However, anyone who teaches you finance basics likely didn’t know or didn’t mention that title loan applications are quite the opposite. Applying for this type of loan is quick and easy, and this is what the process looks like:

Step 1: Starting The Process

You can start this step anytime you want from the comfort of your home, regardless of the time. Take the first step by providing your information through the online form on the website.

Once you submit your information, a representative at a nearby store location will gather your details. Soon after that, they’ll call your phone to brief you on the rest of the application process.

During that call, the representative will also discuss when and where to meet you for the next step in this process. Remember: you can ask the representative any questions you might have at any step of this process. They’ll be more than happy to help you! 

Step 2: Completing The Application

Next, you’ll meet the loan representative in person with your car and the required documents. The representative will verify your documents and assess your car’s value. Then, they’ll let you know if you qualify for the loan and how much you can borrow based on that value. 

Step 3: Receiving The Money

If your application is approved, you can expect the money to be yours as early as the same day or by the next business day. Meanwhile, you can drive your car home and go about your day!

 

Submit Your Loan Application Today!

Don’t let your credit score stop you from completing your loan application! Fill out and submit the online form to get started with helpful Carolina Title Loans, Inc. Representative. Before you know it, you’ll be completing your application with their help and waiting for the outcome!

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