In Indiana, title loans are a popular way to get cash quickly. Unlike a traditional loan from a bank, you can qualify for a title loan with bad credit. And you don’t have to visit a store location – the entire process can be completed online.
Borrowers turn to secured loans because they’re looking to borrow more than $1,000. You can access more money with your vehicle equity because these are secured loans. That means the car’s pink slip serves as collateral for the loan. The lender holds the lien-free title while you can keep driving the vehicle. The lender can seize the car if you don’t make payments, so you must stay current and only borrow what you need.
The qualifications for an online title loan in Indiana are pretty simple. You must be 18 or older, have a valid driver’s license, and own your car outright. The vehicle needs to be in good condition and drivable, and you will need to submit the car at some point for an inspection.
You’ll also need to provide the title to the car, as well as proof of insurance and residency. Some finance companies will also require proof that you’re currently employed. The only reason they want this information is to be sure you make enough money each month and have the means to afford the minimum monthly payment.
If you meet these qualifications, you could receive a pre-approval of up to $10,000 in just minutes. And because title loans are so accessible, they’re a great option for people who need cash quickly but otherwise can’t qualify for a personal loan or bank loan.
Yes, you can apply for car title loans in Indiana with bad credit, and you may even be able to get cash with a title loan on a financed car. Many people with less-than-perfect credit turn to vehicle equity loans to get the needed cash. This is because equity loans are considered secured loans. So even if you have bad credit, you could still be approved for a loan as long as you own your car outright and it’s in good condition.
Remember that a title loan will always come with a high APR, and you should only borrow what you need. The lender could seize your car if you can’t make your monthly payments. But as long as you’re responsible and only borrow what you feel comfortable paying back.
The amount of money you can borrow with these loans in Indiana is almost entirely determined by your car’s resale value. Because of that, loan amounts will vary widely, but they start at $1,000 and can go up to $15,000. You can use a free online calculator to determine your car or truck’s value.
Once you have that information, you can determine how much money you want to borrow. After you know how much money you’re looking for, it’s best to use our online title loan calculator to get an estimate of lending fees and payoff amounts.
Remember that auto title loans are meant to be for a short duration, so you shouldn’t borrow more than you need. You should also only borrow what you can pay back each month.
Most equity lending companies in Indiana can give you the cash you need within 24 hours. That’s because vehicle title loans are a quick and easy way to get cash – you don’t even have to visit a company offering title loans near me in Indianapolis. The entire underwriting process can be completed online from the comfort of your own home. Plus, you’re more likely to be approved even if you have bad credit or missed some past credit card payments.
In some situations, getting your cash from a local lending place may take longer than one business day. If you apply over the weekend or on a bank holiday, this can happen. Lenders have limited control regarding ACH processing, and most banks will take an extra day or two to send funds if you apply for a vehicle title loan on a day when they’re not open. Check with your lender and see what their payment processing guidelines are. If you need the cash quickly,, you should reach out to a local company near me in Indiana. We know of a handful in Fort Wayne and Evansville that offer same-day approval with inspection and cash funding! That means you can fill out an application online and pick up the money within a few hours or two!
Are you ready to get started and understand how online title loans work and the fees and interest rates? If so, the next step is to get started with an online application! Car Title Loans 123 offers a quick online process where you can quickly submit your information and get a pre-approval notification in less than 10 minutes.
We can also work with you on an over the phone application. Contact our customer service agents at 844-567-5011. They’ll be more than happy to help you and answer any questions you may have about auto car title loans in Indiana!