When people in Wisconsin face a financial crisis, it sometimes seems like there’s nowhere to turn. But, if you need money to pay for an unexpected bill or other expenses then an option to consider is a title loan. These hassle free secured loans allow you to tap into the available equity from your car or motorcycle. Anyone who qualifies 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 a loan quickly in less than one business day.
When you apply for Wisconsin auto title loans, you will need to provide certain documents to prove that you are the vehicle’s legal owner and meet our minimum requirements. These documents may include the following:
– The title to the vehicle that will be used as collateral for the loan. The pink slip is always the most pressing requirement for any lending transaction. This acts as your collateral for the loan amount and the car’s title is 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. The VIN 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 secured loans without a store visit are only available to people who reside in WI. Therefore, if you live in a neighboring state, you may want to consider applying for a loan from that state.
One of the great things about title loans is that they are not based on your credit history. 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.
Auto equity loans can be an excellent option for people who are struggling to get approved for a traditional loan from a bank or credit union. 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 quick credit check, but a history of missed payments or recent loan defaults won’t lead to a quick rejection. Bad credit loans are currently being underwritten for those who qualify. 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 funding up to $15,000, one of the highest limits in the state. The vehicle’s value is determined by several factors, including its make, model, year, and current condition.
– If you have a newer car 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 amount will be reflected in the loan offer. For instance, we constantly see higher loan amounts in Milwaukee versus places like Madison and Oshkosh.
The 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 payment terms from 12 to 36 months. You can choose the repayment term that best fits your budget and timeline to pay off the loan. A lender first sets this repayment schedule, but that doesn’t mean you can’t negotiate a payoff that works better for both parties. Only borrow an amount that you can pay off with no trouble. Please don’t get stuck in a scenario where you take out a loan but can’t pay it back or risk missing payments.
Try to pay off your loan early and ensure any lender will allow early payments on your loan with no penalty. By doing that, you can avoid excessive interest rates and get back your pink slip quicker!
You can apply online, over the phone, or at any location that offers car title loans. Each of these has its benefits and drawbacks. For instance, you can apply online from the comfort of your own home. Still, you won’t be able to get your money as quickly as if you go through a brick and mortar location.
If you apply over the phone, you’ll have an instant decision and can receive your money in person at a store, but you may not get the best interest rate. You can go into a store that offers vehicle title loans in Milwaukee, and 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 terms in Wisconsin. You can get a great rate and borrow money with your car’s equity!