Get A Car Title Loan That Doesn't Require A Credit Check

Finding a lender that offers a loan without a credit check is nearly impossible. Many personal loan lenders will require a lengthy credit check, and there's little chance you'll get approved for an installment loan if your FICO score is under 600. Worst of all, even if you find an unsecured lender that won't check your credit score, the loan amount will likely be limited to $1,000 or less.

Car title loans, on the other hand, offer an opportunity to borrow $3,000 or more with minimal credit requirements. Instead of relying on your FICO score, your lender will focus on the equity in the vehicle. Cars that are fully paid off with minimal mileage will often get you approved for a no credit check title loan and you may be able to get the funds in 24 hours or less! Don't wait to see how much you can borrow with an online title loan with no credit check! Car Title Loans 123 provides an instant pre-approval quote for online applications. You can also call us at 844-567-5011 to find out the title loan value of your vehicle.

Car Title Loans With No Credit Check - Who Qualifies

Anyone with a lien free vehicle can qualify for a title loan with no credit check. This often means the car or truck needs to be fully paid off and you must have physical possession of both the vehicle and the title. Your vehicle should be valued at $5,000 or more and you have the best chance of qualifying with a car or truck that has less than 100,000 miles.

Even though these loans don't require excellent credit, there's still a chance that we'll need to confirm your payment history and lending profile. Some companies will also check credit to verify your identity and residency, and they'll always check to see if you have any current bankruptcies.  You should still qualify for a title loan even with past loan defaults and missed payments because a title loan doesn't require excellent credit for approval.

Underwriting Requirements For No Credit Check Title Loans

The underwriting requirements for online title loans with no credit check are relatively simple. You must own a vehicle outright with a clear title in your name. The car should be worth $5,000 or more, and you'll likely have to have the vehicle inspected to verify the resale value, mileage, and current condition. In some states, such as California and Arizona, you need a car with a higher value, as loan amounts start at $2,500 in those states.

You need a steady income source showing enough cash coming in monthly to afford the required payments. Prove your income with payroll records from your employer, bank statements, or documents showing security or disability income. Lastly, you may need to submit proof of vehicle registration, and any insurance coverage that shows the car is adequately insured.

One of the most essential requirements for a title loan with no credit check is to take the vehicle in for an inspection at your nearest lending location. Inspections aren't always required for a standard title loan, but it's hard to get around this requirement if you want a loan with no credit check. Most secured loans are underwritten based on the vehicle's value, not your credit history. Because of that, your lender must be certain that the car exists and is in good enough condition to match the current resale value. The inspection can be completed in less than an hour, and during this same visit, you can sign off on the lending terms and add the title loan company as a lienholder on the pink slip.

Once you've met these basic requirements, you can apply instantly with Car Title Loans 123! The application process is typically not much of a hassle, and you can usually get underwritten and approved within hours. After you're pre-approved and complete the inspection, you can sign the lending contract and add the title loan company to the vehicle's title.

Benefits Of Title Loans Without Checking Credit

There are several benefits of online title loans with no credit check. The first advantage is that you can be approved and funded quickly, as these loans don't require a detailed credit check, which is common with most personal loans. So instead of waiting days or weeks for a traditional personal loan to fund, or even 1 to 2 business days for a title loan, you can expect a funding time of 24 hours or less with a title loan that doesn't check your credit score.

No credit check title loans also allow you to borrow far more cash than you would be offered with a payday advance. Consider that a title loan can lead to a funding amount of $3,000 to $20,000, with your vehicle serving as collateral! Compare that to payday loans limited to a few hundred dollars and even bank loans without collateral that max out at $2,500! Title loans offer the best value if you need to borrow $5,000 or more as the equity in your car or truck is far more important to your lender than your credit history.

Another benefit is that title loans have much longer payoff times. Some lenders offer repayment terms of up to 36 months, so you can take your time repaying the loan without worrying about a potential missed payment or default! One thing to remember with a longer payoff term is that you should always pay more each month as that will limit the interest charges on your loan. A payoff term of 36 months looks great at first, but most of your initially payments will be paying down interest charges when you only pay the minimum payment.

Rates & Repayment Terms For Car Title Loans With No Credit Check

The interest rates on title loans with no credit checks are high, and it can be challenging to repay the loan if you only make the minimum payment.

Online title loan companies have an APR between 30% and 150%, which can be higher for someone applying without a credit check. The fees and penalties can also vary depending on the lender, but typical fees can include a loan processing fee, pre-payment penalty, and even a title search fee.

Repayment is typically straightforward for online title loans without checking credit. You will make regular payments directly to the lender and you can repay the balance early with no penalty. Payment terms for a title loan last between 12 and 42 months, and in some cases, you can extend the term longer to get a lower monthly payment. Because of the high APR, it can take a good amount of time to pay down the loan balance.

Apply With Car Title Loans 123

Our online title loans are hassle-free, and you save time without dealing with a time-consuming credit check. Apply now with Car Title Loans 123 online or call 844-567-5011 to start today! We only need your vehicle info, contact details, and requested loan amount to get you started, and you can get a lending estimate in less than 30 minutes with us!