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Car Title Loans For Bad Credit

By Jenny Williee | April 17 2019
Categories: Car Title Loans
220

Car Title Loans For Bad Credit? Bad credit is nothing funny at all. It affects you in so many ways and prevents you from having access to the cash you can use to do so many things. Bad credit is a record of past failures of you not keeping up with credit agreements. Some people find themselves in this situation out of pure circumstance and can’t seem to find a way out of it.

 

Car Title Loans For Bad Credit

When you have bad credit, it is impossible to borrow money from the banks. Landlords, utility companies, etc. all would require higher security deposits before they can do anything with you. Bad credit is a terrible thing for anyone and it seems to close all doors of progress that leaves you in financial limbo. 

Even though you have bad credit you still have to deal with several issues in your life including emergencies. It can happen to anyone at any time and whether you like it or not you will have to seek help.

At Car Title Loans California, we offer car title loans for bad credit. No matter how bad your credits are we can always help you find a way to get the kind of cash you need to successfully deal with the situations in your life. We place ourselves as the last chance to get a loan for anyone who is dealing with the horrors of bad credits and wants to find a solution to their problem. 

To get a car title loan with bad credit you need to go on and apply as you normally would. There are two ways to do this; online or at an office near you. We will provide you with all the details, you just fill them up and send them over and we will deal with the rest. You also need to submit all the required documents.

We need to have your government issued an ID card, proof of income, proof of insurance, references, and of course the title to your car. You have to make sure that all of these documents are up-to-date, and will pass through the authentication process without any issues. Once all of these documents have been submitted and verified, we will provide you with a contract. This contract will contain everything you need to know about the agreement of your title loan including:

  • How you’re going to pay back
  • The amount of the loan itself 
  • Information about your vehicle
  • The interest you’re expected to pay on the loan
  • Terms and conditions of the loan, etc. 

After signing the loan we will then issue you the cash you have asked for by sending it to your bank account or through Western Union (if you don’t have a bank account). Please note that the amount of money that you will receive from us will be determined by many factors including the value of your car, your negotiation skills, and your proof of income.

People who have very convincing documents to show they have been earning a steady income in a while, do get the chance to ask for more money than they imagine. We provide every customer with the opportunity to present their case and take advantage of all of our support factors, available tools, and other resources, so they can get the kind of cash they need. 

What Leads To Bad Credit?  

Even though we provide customers with car title loans for bad credit, it’s important that we enlighten them about what causes bad credit scores in the first place. This kind of information will help reduce the errors many people commit with their finances that leads them into big trouble. We hope that as you get the title loan from us, you’ll pay back your loan and begin to make necessary steps to repair your credit.

One of the major things that leads to a bad credit score is paying late. You have the opportunity to use your credit card to make purchases and enjoy yourself. However, when you start paying back late you run into problems. Some people don’t even pay at all, so they just leave their credit history bare, making it very dangerous for their survival.

Try to make sure that you pay back your credit card debts in time to avoid it pilling up penalties and fees and making it impossible for you to have a debt-free life. Filling for bankruptcy seems like an easy way for you to get out of a terrible debt situation but it seriously hurts your credit score, so try as much as possible to avoid it. Instead, go for consumer credit counseling before you go on filing for bankruptcy. 

A late payment on your home can lead your lender to foreclose your home which can be very bad for your credit score. You can avoid such a situation by going for car title loans for bad credit, pay up your mortgage and avoid a negative effect on your credit score.

Credit card balances are another thing that seriously hurts your credit score. Also, applying for too many credits or loans can cause your credit score to seriously drop. Credit inquiries account for about 10% of your credit score so that too many credit score applications within a short while will have a serious effect on your credit score, no doubt about that. You should also avoid using your credit card to buy everything and pay up any debt on it before the end of the month to avoid a pile-up of interests that accumulates on your account and hurt your credit score. 

If you have issues with your credit it will be very difficult for you to cope, especially when you need money to deal with emergencies. Car Title Loans California is a company that provides you with all the resources and tools you need to have a clean credit score that will boost your financial capabilities. We offer you a highly effective system that takes your needs into consideration and deliver to you the very best in all the things that you desire. 

Native Effects Of Bad Credit

Bad credit is just bad for you. Even though you can get car title loans for bad credit, you shouldn’t play with it at all. Here is a list of negative effects of bad credit so you can start thinking of how to fix things using the opportunity given to you by car title loans. 

#1: Your Loan Application Can Be Denied

Your credit score greatly affects your ability to successfully receive a loan from lending companies. The lower your credit score, the lesser the possibilities of finding a lender who will be willing to approve your loan request.

If you have bad credit, your chances of getting approved for loan irrespective of the type of loan will be very difficult because it poses a high risk to the lenders. Several people who needed an emergency loan to solve an urgent need has been disappointed due to bad credit. Even if your credit score almost meets up to the cut-off of a lender, there is a high possibility of your loan being denied by the lending company. This is why many people cherish what we do at Car Title Loans California because, despite bad credits, we still give loans successfully to thousands. 

#2: Higher Interest Rate On Approved Loans

You may be lucky enough to be approved for a loan application but you will most likely end up with a very high and unfavorable interest rate or even be given restrictive terms. If a lending company considers your loan to be approved despite your bad or low credit score it means they will charge you with a higher interest rate. As stated by the Bank of America, “A higher credit score increases a lender’s confidence that you will make payments on time and may qualify for lower mortgage rates. Also, some lenders may reduce their down payment requirements if you have a high credit score.”

Apart from paying back your loan with a higher interest rate, you could also be required to make a down payment of 10 to 20 percent of the requested loan amount. The loan interest rate and down payments may vary with different types of loan (personal loan, auto loan, credit card loans, home loans, etc) but they all apply the same principle.

#3: Higher Insurance Premiums

Many insurance companies check background credit score as they see an association between bad credit scores and increased number of insurance claims and as such, increases the rate of insurance premium to the people with a poor credit score. Outstanding debts levels and timely payments are of importance to insurance companies. After running a background check on your credit score and they discover that you have got low credit, they will impose a punitive premium rate increase on you. 

#4: Difficulty In Getting Approved For An Apartment

Landlords check the credit scores of their potential tenants unless the local law openly forbids its practice. If you have bad credit, you may less likely get approved for a lease or rented apartment and it will be signed over to another tenant with a good credit score.

Just like the financial institutions and insurance companies, landlords make an assumption that people with bad credit are most likely not to deliver on time with their monthly payments and this puts them at higher financial risks.

As a home applicant, your bad credit can have a negative impact on where you may end up living. Landlords that own apartments with modern properties in desirable locations, normally give their apartment to renters with very high credit scores because the higher demands for their apartments or properties give them the luxury of picking who they want to rent their house to. On the contrary, landlords with inferior properties, located in an undesirable neighborhood, may be lenient in regard to credit score since the demand for their properties isn’t high. This means having a bad credit score could land you in a cramped and unattractive apartment which is not what you desire. Moreover, the processes it takes to evict a tenant that is defaulting in rent payments usually cost the landlords a lot of time and money. 

#5: Tougher Time Getting A Job

Most jobs especially those of higher positions have specific criteria that job seekers need to meet and one of them may include having a good credit score. In states where such policy practices are accepted, it may be difficult and tough to land yourself a job of your choice due to your bad credit history especially if you have excessive outstanding debts. It is also in some companies’ policy to inform their job applicant that they lost a job opportunity because of their poor credit history.

#6: Challenge In Starting Your Business

Reposesion on Car title loans california

It is not only difficult and challenging in securing a job with a low or bad credit history; it can also affect your chances of starting or owning a business.

A lot of businesses tend to receive financial assistance from the bank or any financial institution but if it is discovered that you have bad credit, you will less likely be approved for a loan application. Even your great business ideas and plan will not get your loan approval. Bad credits can come with a lot of negative effects and consequences than you may imagine and so it is of great importance that you should do everything possible to get your credit back to shape and plan your spending properly.

Conclusion 

When it comes to getting Car title loans for bad credit we are the number one people to call. Car Title Loans California offers all of our customers every opportunity they deserve to find solutions when in trouble and to turn their financial situations around. We are committed to the welfare of our clients and we ensure that everything they desire is made available to them in good fate.