Can I Get Bad Credit Title Loans In Nevada?
If you're over 18 years old, getting bad credit title loans in Nevada is probably easier than you think — almost anyone can gain approval for this type of emergency loan. They can help those struggling financially who face a financial emergency they cannot afford by providing quick emergency cash regardless of your credit score.
In this guide from Nevada Title and Payday Loans, Inc., we will explain what bad credit auto title loans are, how to get title loans with bad credit, their requirements, and so much more. Use this guide to inform you about same-day title loans for bad credit to help determine if it is the right financing option for you.
What Is A Title Loan?
A title loan is a secured cash loan that allows car owners who have fully paid off their vehicles to use their car title as collateral to borrow money. You must have a lien-free car title, meaning your vehicle has no outstanding liens, debts, or judgments.
We place a lien on your car title and allow you to borrow money. You can borrow up to $15,000, depending on the value of your vehicle. During an in-person meeting, one of our loan associates will inspect your car and determine its value to establish how much money you can borrow. The factors that can affect your title loan amount include age, make, model, condition, and mileage.
How Do Bad Credit Auto Title Loans Work?
If you’re looking for bad credit loan solutions, a title loan could be an option. You may worry that you need good credit to get approved for a title loan, but that is not the case. Since you use your lien-free car title as collateral to secure the loan, you do not need to prove you have good credit to get approved for vehicle title loans.
The loan lender has security in the form of your car title should you fail to pay the money from the title loan. Title loans for bad credit allow those facing financial struggles to pay for urgent costs without having to worry about getting rejected because of their credit situation.
Who Can Get Title Loans For Bad Credit?
Bad credit affects many people in the United States. According to Experian, over 12% of Americans have a credit score below 580. This can affect their ability to get approved for traditional bank loans. However, that is not the case at Nevada Title and Payday Loans, Inc. We offer bad credit auto title loans to a wide variety of people to help finance their economic emergencies.
You can get bad credit title loans in Nevada if you fall into one of the categories below, own a vehicle, and are over 18:
- State residents — Naturally, you need to reside within state lines to receive a loan from us. Living close to one of our stores is a bonus since Nevada doesn't offer online title loans, so you'll need to make the journey for an in-person meeting.
- Unemployed individuals — Contrary to popular belief, you don't need a job to get a bad credit title loan in Nevada. Proof of income is not a requirement, and you can get it approved as long as you meet the other requirements.
- People with bad credit — As the name suggests, you don't need a perfect credit rating to apply for a title loan. It's made for those with poorer financial histories in mind, ensuring they have access to emergency money.
What Are the Pros And Cons Of Title Loans For Bad Credit?
The advantage of bad credit title loans is you get to borrow money without proving your creditworthiness. You can get approved no credit check title loans the same day you apply and borrow thousands of dollars for financial emergencies. You can also start the process online and receive your emergency funds within one business day.
However, the disadvantage of bad credit auto title loans is you cannot get approved if you haven’t fully paid off your car. If you have a damaged or older car, you also may not get approved for as much money as you may need. Interest rates and late fees also apply to title loans with bad credit.
The Requirements For Bad Credit Title Loans
Getting approved for a bad credit title loan requires you to meet a few requirements. Thankfully, we keep our list of requirements short to ensure you can easily find what you need and get approved in less than a day. We will verify these requirements in an in-person meeting to quickly get you the emergency funds you need.
The following are the required items for a title loan with bad credit:
- Your driver’s license or state-issued ID card
- A lien-free car title in your name
- Your vehicle for an inspection
The Approval Process For Title Loans With Bad Credit
You can get instant approval title loans with Nevada Title and Payday Loans, Inc. Our approval process is fast and efficient, with borrowers only needing to complete a few easy steps. As long as you have the required items, you should be able to get approved the same day you apply.
The following are the steps in getting approved for title loans with bad credit:
- Complete the online form found on this website. It should take just five minutes.
- Pick up the phone when one of our Nevada Title and Payday Loans, Inc. representatives calls. Their job is to tell you about the process, ensure you understand what you need to qualify, and answer any questions or concerns.
- After the phone call, head to your nearest Nevada store location with the necessary documents and your vehicle.
- Wait while one of our loan associates examines your ID and title and conducts a five-minute vehicle inspection to confirm the amount of money you can borrow.
- If you are satisfied with the amount we offer, complete the remaining paperwork with the loan representative's help.
- Finally, you get the money you need on the same or the following business day.
FAQs
Can getting a title loan affect your credit score?
You can borrow title loans with bad credit and don’t have to worry about them affecting your credit score. We do not report our title loans to the major credit bureaus, so you can borrow without lowering your credit score.
When should you get bad credit title loans?
Same-day title loans for bad credit should only be borrowed during a financial emergency you cannot afford, such as overdue rent, medical bills, and unexpected travel costs. Borrowing a title loan for a luxury purchase is financially irresponsible and should be avoided.
How long does it take to get approved for instant approval title loans?
The title loan process takes less than a day. You can fill out our online form in less than five minutes, and the in-person process takes less than 30 minutes. You can receive your emergency funds the same day or the next business day.
Apply Now For Bad Credit Auto Title Loans – Make Up To $15,000 In Quick Cash Today!
When your financial struggles have led to bad credit, Nevada Title and Payday Loans, Inc. can help with our bad credit title loans. We offer short-term title loans to those facing urgent costs, and you can get approved as long as you have paid off your car.
Get approved for title loans with bad credit today by filling out our online inquiry form!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.