title loan report credit bureau

Breaking Down If Title Loans Are Reported To Credit Bureaus

It’s only natural to wonder if getting a title loan from Carolina Title Loans, Inc. involves a report to credit bureaus. That doesn’t typically happen. Still, it’s an excellent idea to learn as much as you can about title loans and their relationship with your credit and credit bureaus.

This in-depth guide will help you understand all of that. Here, you’ll learn if title loans are reported to credit bureaus, and more!

Do Title Loans Report To Credit Bureaus?

No, title loans aren’t typically reported to credit bureaus. That’s because title loans fall under the category of alternative funding, which tends to have different rules compared to more traditional loan options.

Without your title loan being reported to those bureaus, you won’t have to worry about your credit score being affected. Still, there are some exceptions you must be fully aware of.

For starters, it’s crucial to understand that this isn’t universal. Rules, regulations, and laws can differ between states and are subject to change over time. On top of that, being reported to credit bureaus is likely if your car were to be repossessed.

But let’s suppose you try to get a title loan in the future and are concerned about this matter. In that case, speaking to your loan representative is the best way to put your mind at ease. The representative will be in the best position to advise you then.

Breaking Down If Title Loans Are Reported To Credit Bureaus

Can I Get A Title Loan With Bad Credit?

Yes, you can still get a title loan even if you have bad credit. That’s because having perfect credit is not one of the requirements for this type of loan. In fact, all credit types are welcome to apply and still be approved if they can meet the requirements to qualify.

Will My Credit Be Checked When Getting A Title Loan?

This type of loan is secured by your lien-free vehicle title, not your credit. While your credit may be considered, and can affect the conditions of your loan, it will not determine your approval. 

As you saw earlier, you can qualify for a title loan regardless of whether your credit is good or bad. What matters is whether you can provide the required documents and fulfill the loan’s requirements.

The title loan requirements include:

  • A state-issed ID, such as a driver's license
  • The lien-free title to the vehicle being used as collateral
  • A vehicle registered in your name

Who Can I Talk To If I Have More Questions?

Suppose you have questions or concerns when getting a title loan. In that case, the best person to speak to is the representative helping you through the process.

The representative is there to ensure that you go through the process with complete peace of mind. So, they’ll be more than happy to answer your questions and clarify anything that has you feeling unsure.

You can speak to them when they call you on the phone at the beginning of the process. Similarly, you can ask them questions when you meet them in person or at any other stage of the process.

man with title loan cash in car

Where Can I Find More Information About Getting Title Loans?

Whether about credit bureaus or other topics related to getting title loans, it’s always an excellent idea to learn as much as you can.

Here are the 3 best ways to find more information:

  • Website: This website is your best resource. You’ll find plenty of information about title loans, how they work, and what they require for you to qualify. Take some time to read the information carefully before you make your decision.
  • FAQ: You can also skip to the page of Frequently Asked Questions (FAQs). There, you’ll see a list of the most important questions that borrowers ask along with quick answers to each of them.
  • Representative: As you read earlier, the representative you interact with is also an important resource when learning about the ins and outs of title loans. Ask them questions, and they’ll be glad to help address any concerns you might have.

Understanding everything there is to know about getting title loans will help you make better decisions moving forward. You can then decide if a title loan is the solution you need and know what to expect from it.

Get Started Now!

Now that you know all about getting title loans and whether it involves a report to credit bureaus, you’re ready to start.

Reach out to Carolina Title Loans, Inc. at any time through the online form, and a representative will call you soon after. Then, they’ll guide you through the process and answer any questions you have along the way!

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.