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Do Car Title Loans Affect Your Credit?

April 13, 2018

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Do Car Title Loans Affect Your Credit?We all get into financial difficulties from time to time. Maybe you've lost your job, or you simply have unexpected bills. You might have even taken out loans to cover these unexpected expenses, only to find out that you're having trouble paying a loan off. Even worse, maybe you've tried getting a loan to help with your financial troubles and haven't had much success. Whatever the case, a car title loan might be the solution you're looking for. Car title loans are different from other types of loans and easier to get, but do car title loans affect your credit?

What are Car Title Loans?

Car title loans are popular because anyone with a clear car title can get one. If you have a car title, you simply leave the hard copy of the title with a car title loan company as collateral for the loan you would like. The size of a loan can vary, depending on the value of your vehicle, but it is possible to get a substantial loan to help you pay off your unexpected bills or debt. Car title loans are easier to get. They take almost no time because of the simple process and limited requirements involved. This is a great advantage for someone who is in quick need of fast cash.

Do Car Title Loans Affect My Credit?

In most cases, no, car title loans do not affect your credit. If you leave your car title, take out a loan, then pay off the loan and reclaim your title, there is no effect on your credit whatsoever. This means there is no negative impact, but it also means paying off car title loans don't necessarily help your credit score either. Many car title loans don't report to credit agencies, meaning car title loans don't affect your credit. Quick Cash Auto Loans, for example, doesn't look into your credit history, nor does it report to credit agencies, so you never need to worry about your credit history being harmed when you take out a car title loan with us.

Not all car title loan companies work the same. Some of them do report to credit agencies, meaning it is possible to get a negative report if you fail to pay off a loan, even if the loan company claims your car. On the plus side, some title loan companies report loans that are paid off as well, which can help build your credit score. It's important to ask about the topic of credit reporting when you take out a car title loan. A reputable title loan company will gladly provide you with the information. In the end, however, you are probably in the market for car title loans because you're in a financial bind. You have every intention of paying back the loan and keeping your car, so credit reporting, or the lack of credit reporting, shouldn't be an issue.

In general, car title loans have no effect on your credit score and most don't even require you to have a great credit score to get a loan. This is because everything is based on your car title loan, your employment history (you just need a job in most cases), and the length of your residency. Bank loans and other types of loans can have negative effects on your credit score even if you're late making a payment. This makes car title loans a fantastic way to get yourself on the right track when you find yourself in dire financial need.

Quick Cash Auto Loans Has a Fast and Easy ProcessCar title loans have many advantages over other types of loans. Some of them include:

  • No strict requirements for loan
  • Car title only for collateral
  • Keep driving your car
  • No damage to credit score
  • No credit checks
  • Fixed interest rates
  • Flexible schedule for loan re-payment

As you can see, there are many advantages to car title loans. There are no strict requirements for getting a car title loan, so the process is fast and easy. If you have a car title, you can get a car title loan. The best part is, you get to keep driving your car, which means you can continue to live your day to day life as you always have. This can keep your stress levels down and allow you to focus on taking care of your financial needs.

Car title loans not only have no negative effect on your credit, but they also typically require no credit check. Sometimes people go through a rough period in life and may make choices that leave poor marks on their credit score. There's no need to worry about that with a car title loan. No credit check is required as long as you have a clear car title, and the great news is, every make and model of car is eligible for a car title loan.

Quick Cash Auto Loans is the Answer

If you've found yourself in a bind and you're looking for quick cash to help you get back on your feet, Quick Cash Auto Loans is the answer to your problems. We specialize in car title loans and making sure you get the money you need when you need it. Don't let stressing over money hold you back. If you have a clear car title, bring it in and let us help you get back on the right path.

With Quick Cash Auto Loans Your Credit won't be Harmed
Quick Cash Auto Loans is a consumer finance company licensed in Florida under statute 516. Our goal is to serve you and your financial needs by helping you get the cash you need for whatever reason you need it. We value your business and care about our customers and their needs. The process is simple. All you need to do is fill out the form on our website and we'll contact you to set a convenient appointment in our office. We can assess your vehicle and secure your loan on the spot, without the need for a lot of paperwork or credit history. The amount of the loan you receive will be based on the equity in your vehicle. It couldn't be easier. Our goal is always to help you achieve the worry-free loan you need to put your finances back in order with no disruption in your day to day routine. That's why you will drive away in the car you use to secure your loan. Continue to go to work, continue to run errands, and continue to live your life without worrying about your financial situation.

Car title loans are easy to secure through Quick Cash Auto Loans, so get started today by giving us a call at (786) 600-3411 or by filling out the form at the top of this page. Find us on Facebook as Quick Cash Auto Loans and follow us on Twitter @QCashAutoLoans and Instagram @QuickCashAutoLoans.

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