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Pros
- Ease of use.
- Simple application process.
- Large number of trustworthy lenders.
- No fees.
- Flexible loan terms.
- High security.
Cons
Not available in some state.
Small maximum amount to borrow.
No pre-qualification.
Pros
- Long-lasting presence online.
- Good standing.
- Customized offers based on applicants' individual needs.
- A convenient website with easy registration.
Cons
Not a direct lender.
LoansAngel hides the WHOis information.
The FAQ section could be more extensive.
Pros
- Free to use.
- Website's good quality and intuitive navigation.
- Updated SSL encryption.
- They don't check financial health.
- Flexible conditions for different borrowers.
Cons
Sometimes, customers have to wait for money for up to two days.
Text messaging spam.
Pros
- Accepts first-time credit applicants.
- Loans can be funded one business day after the borrower agrees with a loan offer.
- Credit card consolidation loans provide direct payment to creditors.
- Borrowers can select and adjust their payment date.
Cons
An origination fee may be charged.
Borrowers can only select between two repayment terms.
There is no debt management mobile app.
Pros
- One-stop solution for finding all lenders.
- Easy 10-minute process.
- Fast transfers.
- Easy to navigate for new users.
Cons
Not a direct lender.
In case of late payments, Funds Joy will report a lower credit score to the credit agency.
A borrower must earn at least $800 per month to be eligible for a loan.
Pros
- No additional fees.
- Rates are competitive among available internet loan lenders.
- Provides a 0.5 percentage point rate reduction for setting up autopay.
- Satisfaction-guarantee service.
Cons
There is no pre-qualification option on its website.
Some lenders may ask for several years of credit history.
ExtraLend isn't the direct lender, which makes the process lengthy.
Pros
Cons
Pros
Cons
Pros
Cons
Pros
- The Company provides commission-free American stock and EFT trading without inactivity and withdrawal fees.
- The process of creating an account is seamless, digital, and quick.
- The support center offers relevant and helpful answers.
Cons
The Company is only available to American residents.
There are limited products.
The research tools are not advanced.
Pros
Cons
Pros
Cons
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We know how desperate one becomes during a financial emergency. They can do anything to arrange the money required without thinking of the long-term effects. Some people opt for payday loans from bad lenders and regret it. We don't want you to suffer from such distress! Hence, we are here with this special guide for suggesting the best alternatives to car title loans for bad credit from genuine lenders. Can you get a title loan with bad credit? Yes, you can, but the high-interest rates make this loan quite difficult to be paid back later.
A personal loan can save you from dire financial emergencies without pushing you towards debt. However, if you are skeptical about a car title loan with bad credit, worry not because we will provide you with ample alternatives too in this guide. All you need to do is keep reading until the end!
Car Title Loans Can Be Risky: Try out the Alternatives
Lenders easily provide bad credit title loans on cars because here, you keep the vehicle with the lender as collateral security. If the money is not paid back on time, the lender has got all rights to keep your vehicle forever. You might think that repaying the money is easy, and yes, it can be if you earn well, but it isn't the case for most borrowers. Experts say that one in five borrowers lose their vehicle because they cannot pay it back on time. Are you wondering why? It is certainly because of the high-interest rates. Car title loans with bad credit have sky-high interest rates, making loan repayment quite difficult.
That is why a wise borrower considers the alternatives first before going for car online title loans for bad credit. The alternatives are a better way of borrowing money without risking your vehicle. Moreover, the interest rate of the alternative loans is more affordable compared to a title loan with bad credit. Hence, you should definitely choose the alternatives first!
Personal Loans for Bad Credit
Mostly, lenders charge around 25% interest per month for a bad credit title loan. This makes the yearly interest rate around 300%, which is huge. For example, if you borrow $2000 against your vehicle, the repayment sum will amount to $2500 by the end of the month. If you do not pay back for months, you can imagine how huge the total repayment sum will be! Also, you need to add the origination and setup feed of the loan to this amount, making it even more expensive. If you cannot pay every penny back to the lender, they won't hesitate to take your vehicle forever.
Therefore, it's time to ditch car title loans for bad credit and opt for personal loans. Unlike in bad credit car title loans, you don't have to keep your vehicle as collateral security here. Even if you have bad credit, personal loan lenders will be there for you. Many borrowers think that their credit score might affect the approval of the loan, but usually, that isn't the case because a lot of lenders in this field deal with bad credit borrowers every day. They will be more concerned about your monthly income rather than your credit score. If you have a decent income to pay back the loan, they will easily grant the money to you.
Below we have mentioned some great alternatives to car title loans bad credit. Have a look!
MoneyMutual
MoneyMutual is so far the best place for getting a personal loan. They offer short-term loans of up to $5,000. The site is full of genuine lenders from all parts of the world. Unlike car title loans for bad credit, the money for personal loans from MoneyMutual will reach your account within one day only. You will forget title loans bad credit when you use their website for taking loans because everything is super easy and quick here. You will not need more than 5 minutes to fill out the online application.
The site consists of around 2 million loyal customers who repeatedly choose personal loans from MoneyMutual. It is all because of their huge network of direct lenders, honest service, and great customer support team. Unfortunately, even though MoneyMutual is available in 49 states, it is not active in NY or CT. Other than that, there are no downsides to the site, and it is perfect from all angles!
CashUSA.com
You no longer have to search for bad credit title loans near me because CashUSA.com has the best short-term loan offers at a feasible interest rate. They offer around $500 to $10,000 loans with quick approval. The loan term usually ranges from 3 months to 6 years, depending on the amount of money you borrow. The best part of their loans is that you can use them for anything without giving any explanation to the lender. Once the loan is granted and the money is credited to your bank account, you can use it for whatever you like but make sure you pay back the sum on time.
The interest rates of the loans provided by CashUSA.com are around 5.99% to 35.99%. Of course, this depends on the amount you have borrowed and within how many months you intend to pay back the funds. Still, compared to average auto loan rates for bad credit, the interest rate seems pretty reasonable. The interest rates offered by them will be far less burdensome than the bad credit auto loan rates!
CreditLoan.com
Are you looking for a 250 loan bad credit? If yes, then head over to the CreditLoan.com website. They offer loans ranging from $250 to $5,000. The wide range allows both light and heavy borrowers to borrow from them. This is one such lending firm where you get guaranteed approval within just a few hours. The money, too, will get credited to your bank account in less than 24 hours. Isn't that awesome? All thanks to their wonderful team, working with CreditLoan.com ever since the company launched in 1998. They have won a successful customer base of 750,0000 customers from then to now.
Even though the loan term and interest rate vary, they are pretty much flexible, as reported by the customers. Besides getting the best auto loan rates for bad credit, you also get affordable interest rates for personal loans. Many lenders are generous enough to provide all sorts of loans without a strict credit checking policy. There are various types of loans available on the website. Depending on your credit score and needs, the team will help you choose the perfect loan option within just a few minutes!
BadCreditLoans.com
BadCreditLoans.com is another lending website where you can easily get a car title loan for bad credit and various other alternatives of the same. The amount of money that one can borrow from this firm ranges between $500 and $10,000. Connecting with a lender is quite smooth here due to their huge network of reliable direct lenders. You can get your loan approved within just a few hours, and the money will be directly credited to your account within a day. However, the transfer might take a little longer in case of a holiday or weekends.
The interest rate offered by BadCreditLoans.com is around 5.99% to 35.99%; the auto loan rates bad credit might be slightly higher. The loan term ranges from 3 months to 5 years (60 months). The interest rate heavily depends on a few factors like the money borrowed, loan term, and your credit score.
PersonalLoans.com
If you are not satisfied with the maximum loan amount offered by the bad credit title loans online, then PersonalLoans.com can be your perfect choice for borrowing. The maximum loan amount you can opt for on this site is as huge as $35,000, and the minimum amount you can borrow is $500. In addition, the lender network is pretty large here, making it easier to locate trustworthy lenders.
The interest rate offered by PersonalLoans.com is between 5.99% and 35.99%, and the loan term is around 3 to 72 months. This site, too, takes only one business day to transfer your funds. Hence, it is a quick relief when you require money urgently!
CashAdvance.com
Borrowers, who want to opt for a tiny amount of short-term loan over a car title loan bad credit, can choose CashAdvance.com. Here, the loan amount is not huge; it ranges from just $100 to $1,000. Even though it is a reliable site, the rules are difficult to follow. For instance, borrowers choosing this site must have a monthly income of $1,000. Also, the repayment is made weekly, and the interest rates are quite high like the auto loan bad credit rates- 200% to 2,290%. Yes, you can choose this site, but picking some other lending firm from the recommendation list will be better, we feel!
Cash-Out Refinance Loans
If you are paying EMI for your current vehicle and need help, you can use this loan. A cash-out refinance loan can help you pay the amount of the car and then keep the rest for your personal use. Once the vehicle amount is paid, you need to start paying off the loan. The interest rate of this loan is a bit similar to auto loan interest rates for bad credit. The repayment can be weekly, monthly, or yearly, depending on the loan scheme offered by the lending firm. Below we have provided the names of a few lending firms that offer cash-out refinance loans at affordable auto loan interest rates with bad credit. Read on!
Car.Loan.com Auto Loan
Here, you can fill out a loan application for free and easily apply for loans at affordable auto loan rates bad credit score. You will not need more than 3 minutes to fill out the form and submit it. Car.Loan.com provides same-day approval loans, making the process quick and easy. The firm has been working since 1994, and since then, it has won the trust of many loyal customers. Even though there is no strict credit checking policy, you need a monthly income of at least $1500 to get the loan approved. The loan term and the average bad credit auto loan rates vary. Borrowers must get in touch with the lender to discuss the loan's interest rates and other terms and conditions.
Auto Credit Express
Auto Credit Express is another trustworthy firm with a huge network of lenders who have closed one billion dollars in providing bad credit auto title loans. The firm provides flexible bad credit auto loan APR rates. There is no strict credit, bankruptcy, or repossession checking. If you have a bad credit score, you can still apply for the loan, and it will get approved. But the only clause attached to the bad credit loans is that you need to have a minimum monthly income of $1500. If you have this minimum income, getting a cash advance at reasonable refinance auto loan rates bad credit is easy.
The bad credit auto loan interest rates in this firm range from 3.99 to 29.99%. Like Car.Loan.com, the application process does not take longer than three minutes. Also, most loans get approved within one business day if the documentation and your monthly income are on point. Since 1999, Auto Credit Express has impressed its customers with their excellent quality service, best auto loan rates with bad credit, great customer support team, and quick cash delivery!
myAutoloan.com
Here, you can find all sorts of loans for used, new, and refinancing cars. In addition, borrowers can connect with reliable lenders via myAutoloan.com no matter in which state they stay. The best part is that the application process takes just two minutes, which is less than the application process time required by the other two firms mentioned above.
If you are a fan of credit union auto loan rates bad credit, be happy because here, too, you can avail similar interest rates. In addition, once the application form is filled, they will give you up to four offers within just a few minutes. You can get the loan at a much lower price than you can ever imagine by using these offers! After the application is submitted, the money reaches the bank account within just 24 hours.
The Top 5 Car Title Loans for Bad Credit Online
Borrowers who have read about all the alternatives and yet think that it is a car title loan that can fulfill all their requirements perfectly, we have something more for you! Below are some of the best online car title loan services for bad credit. They have cheaper current auto loan rates bad credit, and are more secure for borrowers. Check the list below to know which lending firms we are talking about!
TMG Loan Processing
TMG or the Tradition Media Group is the best when it comes to offering car title loans. They accept loan applications at any hour of the day and offer loans up to $50,000, depending on the car's condition and model. You must be able to repay the money in monthly advances in order to borrow from TMG. However, if you have the right documents and income, the loan application will get accepted in just 24 hours.
MaxCash Title Loans
You will be surprised to know that MaxCash Title Loans is one such lending firm that has provided around 3,50,000 auto title loans for bad credit. They charge affordable current auto loan rates for bad credit. Besides car title loans, they also offer cash-out refinancing loans at an affordable rate. Once the team approves the loan, you will receive the funds in just one business day.
Premier Title Loans
Borrowers wanting to take money from Premier Title Loans must have a paid-off car and a clear pink slip with no pending payments of the vehicles. You can get the loan approval in just 15 minutes. If you want super fast delivery of the loan money, you need to pay extra charges. But we feel it is unnecessary because Premier Title Loans credit money by the end of one business day, which is already quick enough.
Champion Title Loans
Champion Title Loans has a great network of 100% trustworthy direct lenders. They take in your loan application form and, if approved, help you find the best lender suiting your needs. TMG is also a part of their network besides other renowned lenders.
Ace Cash Express Loans
You can apply for different types of loans from Ace Cash Express Loans. Even though they provide a decent service, current bad credit auto loan rates charged by them are unnecessarily high. The firm accepts loan applications both offline and online. However, the online process is quicker and more preferred!
Frequently Asked Questions
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Can You Get a Title Loan with Bad Credit?
Yes, getting a title loan with bad credit is possible if you contact a good lending firm. The firm must have a huge network of direct lenders so that they can help you find a lender quicker. Finding a bad credit title loan becomes easier for those with a stable monthly income of at least $1000. Your income assures the lender that you will be able to pay back the funds on time. -
How Much Can You Get for a Title Loan?
Auto title loans are usually there in the market for those borrowers who have a poor credit score. The amount of money you can get from the loan depends on a few factors:
- Every lender has its own lending limits. So, if they have a lending limit of $5,000, you cannot get more.
- The amount lent also depends on the condition of the vehicle. If you own high-end cars kept in proper condition, you can borrow a huge amount against the vehicles.
- The loan term, interest rates, and extra charges indirectly influence the loan amount.
Hence, there is no concrete answer to how much one can borrow. But usually ranges from $1000 to $10,000 with low auto loan rates bad credit.
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Is there a Credit Check for Title Loans?
Most companies these days offer title loans without any strict credit checking policies. In that case, the lender is more concerned about your monthly income. Usually, those with a monthly income of at least $1000 can get a title loan more easily than those who don't. -
An Auto Title Loan May Worsen Your Situation
As we have said earlier, do not opt for an auto title loan until you have zero alternatives left. These cash advances have typical auto loan rates for bad credit that can push you towards debt. Also, if you cannot repay the loan on time, your vehicle will be taken by the lender, which is definitely a hefty loss! -
What is the Difference between Secured Personal Loans and Auto Title Loans?
Personal loans are usually paid back in fixed installments, and the interest rate is also. Unlike in auto title loans, you don't have to keep your vehicle as collateral security for the loan approval. Also, your credit score plays an important role in personal loans. -
Who Are the Best Auto Title Loans?
The best car title loans online bad credit is provided by companies like Max Cash Loans, Loan Mart, TitleMax, Auto Cash USA, etc. You can check their review to pick the best one! -
What Other Companies Offer Secured Loans?
Some other companies you can seek for secured loans are Loan Center and American Auto Title Loan. They have provided several genuine loans in the past throughout the country! -
Can I Get a Loan from a Credit Union?
Yes, borrowing from a credit union is a valid option, especially if you want to borrow a huge amount. Several lenders offer credit union loans without any credit checks. -
What are Some Other Ways to Avoid Car Title Loans?
You can avoid car title loans by opting for other types of loans like personal loans, installment loans, and bank loans. Another great way to avoid personal loans is borrowing from relatives and friends.
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