When people in Wisconsin face a financial crisis it sometimes seems like there’s nowhere to turn. If you need money to pay for an unexpected bill or other expenses then an option to consider is a title loan. These secured loans allow you to tap into the available equity from your car or motorcycle and you can use that collateral as security for a loan of up to $15,000!
Getting a title loan in Wisconsin with the help of Car Title Loans 123 has never been more convenient. We offer multiple ways for qualified borrowers to apply and you can get fast for your car title in less than one business day.
When you apply for a title loan in Wisconsin, you will need to provide certain documents to prove that you are the vehicle’s legal owner and that you meet our minimum requirements. These documents may include:
– The title to the vehicle that will be used as collateral for the loan. The car title is always the most pressing requirement for any type of title loan transaction. This is your collateral for the loan amount and the car’s title will be checked against all national and state databases.
– Proof of income (a recent pay stub, for example)
– The Vehicle Identification Number (VIN) for the car or motorcycle being used as collateral. This is necessary to look up the recent vehicle information and to determine if it qualifies for the requested loan amount.
It is also important to remember that title loans with no store visit are only available to people who reside in Wisconsin. If you live in a neighboring state, you may want to consider applying for a title loan from that state.
One of the great things about title loans is that they are not based on your credit history. This means that your credit score will not necessarily disqualify you from getting a loan, as long as you can provide the required documentation and meet our other minimum qualifications.
This also means that title loans can be a great option for people who may have bad credit or who are struggling to get approved for a traditional loan from a bank or credit union. Title loan lenders in Wisconsin know that anyone applying for an auto title loan has likely been turned down for other unsecured loan offers. They may still run a short credit check, but a history of missed payments or recent loan defaults won’t lead to a quick loan rejection. Bad credit title loans are the majority of loans currently being underwritten in Wisconsin and while the interest rate is high, your chances of getting approved are much higher.
The amount of money you can borrow with a title loan in Wisconsin will depend on the value of your vehicle. Car Title Loans 123 offers title loans of up to $15,000, which is one of the highest limits in the state. The vehicle’s value is determined by a number of factors, including its make, model, year, and current condition.
– If you have a newer car that’s in good condition, you may be able to borrow more than the average loan amount in Wisconsin which is currently around $2,500.
– If you have an older car or motorcycle that is not in as good of condition or has mileage over 100,000 you may only be able to borrow a few thousand dollars.
As always the loan amount depends on the resale value. Some areas of WI have higher resale values and that will be reflected in the loan offer. For instance, we constantly see higher loan amounts in Milwaukee versus areas like Madison and Oshkosh.
The length of time you will have to repay your title loan in Wisconsin will depend on the loan amount and your repayment schedule. Car Title Loans 123 offers online title loans with terms from 12 to 36 months, so you can choose the repayment term that best fits your budget and timeline to effectively pay off the loan. This repayment schedule is first set by a lender, but that doesn’t mean you can come to terms on a length that works better for both parties. Only borrow an amount that you can pay off with no trouble. Don’t get stuck in a scenario where you take out a title loan in Wisconsin but can’t pay it back or risk missing payments.
Try to pay off your loan early and make sure any lender will allow early payments on your loan with no payment penalty. By doing that you can avoid excessive interest rates and most importantly get back your car title quicker!
You can apply online, over the phone, or at any location in Wisconsin that offers car title loans. Each of these has its own benefits and drawbacks. For instance, you can apply for title loans online from the comfort of your own home, but you won’t be able to get your money as quickly as if you go through a brick and mortar location.
If you choose to apply over the phone, you’ll have an instant decision and can receive your money in person at a title loan store, but you may not get the best interest rate. Finally, if you go into a physical store that offers vehicle title loans in Milwaukee, you’ll be able to talk with a representative face-to-face and get all of your questions answered, but the process will take longer since they need to verify all of your documentation.
No matter how you decide to go about it, make sure to do your research on different title loan payment amounts and payoff scenarios. Work with a lender that offers the best title loan terms in Wisconsin. By doing that you can get a great rate and borrow money with your car’s equity!