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Loan Options for Consumers with Poor Credit

November 08, 2019

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Credit scores are an important part of determining what we can buy on credit, whether or not we can qualify for loans, and in some cases, it can even be used by employers to determine whether or not we will be hired. For the many consumers who have credit scores that are less than desirable, finding themselves in need of a loan can be a problem. Getting a bank loan is out of reach for this segment of the population, making it hard to get the money they need if a financial emergency arises. Nobody expects to find themselves in a situation where they can't pay their bills or extra expenses come up they can't afford, but it does happen, and when it does, what are the loan options for consumers who have poor credit?

Car Title Loans for Those Who Have Poor Credit
A car title loan is a loan you can get using the title of your car. This is a great option for those who have poor credit. At Quick Cash Auto Loans, we specialize in Car Title Loans for consumers who can't get a loan anywhere else. Our goal is to give our customers the benefit of being able to get the money they need when they need it, without having to stress about how their credit score looks. The loan you receive from Quick Cash Auto Loans is based on the value of your car, not on your credit score. We won't even look at your credit score to determine whether or not you'll get a loan, so whether you have good credit, poor credit, or even no credit at all, we treat all of our customers the same way. At Quick Cash Auto Loans, everybody who meets the minimal requirements of our terms qualifies for a car title loan.

How Does a Car Title Loan Work?

First of all, a car title loan shouldn't be confused with a payday loan. Payday loans differ from car title loans. Payday loan companies will give you a loan that corresponds with your job's pay period, which can be a week, two weeks, or a month. You are expected to pay the loan you get from a payday loan as soon as you are paid, which is where the name "payday loan" comes from. The loan is meant to get you from paycheck to paycheck. With a payday loan, if you can't pay it off, you have to pay it off with your paycheck and take out another loan immediately. The payday loan must be settled on the day you are paid. For this reason, it's easy to get into a cycle of taking out a loan, paying it off, and taking out another one right away. Interest rates tend to be high on payday loans. This makes them hard to pay off, which contributes to the cycle we mentioned above. Also, payday loan companies don't leave room for flexibility. There's no credit check for a payday loan, but these companies will not work with customers to get the loans they can manage. Car title loans are a much better option for consumers with poor credit than payday loans are.

Car Title Loan Amount
All you need is a car title that's free of any liens and is in the name of the person who is applying for the car title loan. When you get a loan from us, we simply require that you show us proof of income, proof of where you live (2 utility bills will do), a driver's license, social security card, and the title to your vehicle. We do need to see the vehicle for a quick inspection, which we can do when you visit our office. We can quickly assess your vehicle and tell you the amount of loan you qualify for in a very short time. Our proof of income doesn't necessarily mean you have to be employed. Any source of income, such as retirement or disability, is proof of income. This means you don't even need to be employed to get a loan from us.

As we mentioned earlier, there's no credit check, so once we have assessed your vehicle, we can tell you the amount of the loan you qualify from there and get the money to you typically in less than half an hour. You don't even need to worry about how you'll get to work, run errands, or continue with your daily routine because we don't keep your car while you have a loan with us. You get to continue driving your car as you normally would.

Car Title Loan Approved
As we've discussed, there are relatively few options available for consumers with poor credit. Banks, credit unions, and other traditional means of getting a loan are out of the question. Payday loans are not really good alternatives. You could borrow the money from a family member, but how many of us have family members that can dish out loans without question? Besides, borrowing money from a friend or family member can often cause undue stress. That makes a car title loan a great option for consumers with poor credit. At Quick Cash Auto Loans, we have straightforward loan terms and can get you the money you need the day you need it.

Another good thing about getting a loan from Quick Cash Auto Loans is that we value your privacy. Unlike a bank, we won't make you tell us why you need the money. You can use the loan you get from Quick Cash Auto Loans for anything. We respect your privacy and won't share your information with anyone.

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When you need a loan and your credit is less than perfect, call Quick Cash Auto Loans at (786) 600-3411 or fill out the form on our website. Our loan specialists are waiting to help you get the loan you need today.

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