Bad Credit Loans in Los Angeles
March 16, 2015
If your credit has been negatively impacted and you have bad credit, it will be tough to find a bank in Los Angeles that will offer you a loan. This can be discouraging and may make you wonder if you can get a loan with bad credit personal at all. Luckily, you can get a loan in Los Angeles with bad credit, a car title loan from Car Cash Loans.
What is a Car Title Loan?
A car title loan (or auto title loan) is a loan based on the value of your vehicle. A lender will assess the value of your vehicle and may offer a loan on it. Note that you must own the vehicle outright with no payments left.
Will I Lose My Vehicle?
The only way that you’ll lose your vehicle is if you default on your car title loan. This is similar to the risks that you’ll face with any collateralized loan, as the purpose of the collateral is to secure the loan. Otherwise, with an auto title loan in Los Angeles, you’ll keep your vehicle during and after you borrow the money you need.
How Long Can I Take to Pay it Back?
A car title loan can be repaid quickly or over several years. You can work out a payment plan that is convenient for you. This will allow you to make affordable monthly payments.
Does it Take Long to Get a Car Title Loan?
Car Cash Loans will generally have you in and out in about an hour with a cash loan and no credit check. With a bank, you would probably have to fill out a load of paperwork only to hear that your bad credit has disqualified you from a loan. Which sounds better to you?
What Credit Score Do I Need?
There is no minimum credit score required in the LA area in order to get a car title loan. Bad credit is no issue when obtaining a car title loan in Los Angeles. This is because your vehicle will act as collateral, giving the lender a backup plan if you don’t pay. Car Cash Loans will never check your credit.
What Will Happen to My Credit Score?
If you pay your car title loan off properly, you’ll build positive credit and likely raise your credit score. This will show future lenders that you are capable of paying off debt. Therefore, you may have more borrowing options in the future. You may even get favorable interest rates!
How Much Does My Vehicle Have to Be Worth?
Car Cash Loans offers loans on vehicles that are worth at least $5,000. Most modern vehicles are worth at least this much, so this won’t be a problem for many borrowers.
Do I Need a High-Paying Job to Get a Loan?
The income verification process is minimal when applying for a car title loan. After all, this is to determine whether you can repay your loan or not – not to purchase a mansion. You don’t have to be a billionaire to get a loan with Car Cash Loans!
Should I Apply For a Car Title Loan?
A car title loan can be a great option if you need quick cash and have bad credit. A bad credit score doesn’t have to keep you from borrowing money. You may not be able to go back in time and correct your credit problems, but you can still borrow the money you need. Why let a bank keep money out of your hands?
Bad credit can put the brakes on your borrowing needs with banks. However, even if have bad credit, you can still get available bad credit loans in Los Angeles. Give this option strong consideration if you need cash quickly and have bad credit.