It’s next to impossible to get a bank loan if you have bad credit. Many lenders will only accept applications if you have a credit score of 690 or higher. Unfortunately, only 21% actually meet this strict criterion—leaving almost 8 out of 10 Americans out in the cold.
Fortunately, there are other ways to raise emergency money even if you have a low credit score, and the application process is even faster and easier than going to a bank. Southwest Title Loans offers bad credit title loans online for up to $15,000. The only requirement? You just need to own a car, truck, or van.
Can I Get Title Loans Even If I Have Bad Credit?
Bank loans have high eligibility requirements because they base the approval on your credit history and income. If you have missed payments, have a lot of debt, or have never taken out a loan before, you’re perceived as a “credit risk.”
They even scrutinize your employment records: if you have been unemployed, or if have an “unstable” or “irregular” source of income, they will ask for a lot of financial documents to prove that you can pay off the loan.
Title loans work differently. It is a secured loan or a loan where you use property as collateral or a guarantee. You don’t physically surrender your car; instead, a lien or legal claim is placed on the title until the loan is paid off.
Since you are backing the loan with collateral, your credit and employment history are not huge factors for approval. While you may still need a credit check, you can still get a loan even if you have bad credit.
What Are The Vehicle Requirements For Title Loans
Since secured loans are based on collateral, you just have to make sure that your property (i.e, your vehicle title) meets certain requirements.
- The vehicle title is registered under your name. Only the legally recognized owner of a property can use it to take out a loan, and the only proof of that is having your name on the title. If the title is registered under somebody else, you need to have it transferred to you. Arizona actually has an electronic transfer system, so you don’t have to go to the local Motor Vehicle Division.
- The vehicle is lien-free. A lien is a legal claim or judgment that is placed on a title. When a lien is in place, the vehicle cannot be used as collateral for a loan. There are many websites, including the official website of The Arizona Department of Transportation (ADOT), that let you check if your title has any liens placed on it.
- The vehicle is fully owned. You can only use a title for collateral if you have already paid off any car loans and in-house financing. That’s because when you borrow money to buy a vehicle, your lender will place a lien on the title until you’ve paid off the loan.
How Much Can I Borrow From Bad Credit Title Loans Online?
The maximum loan limit is $15,000, but the loan amount you qualify for depends on your vehicle’s market value. This is determined during the vehicle inspection, based on factors like the model, age, condition, and mileage.
Usually the loan amount ranges from 25% to 50% of the market value.
How Can I Get Bad Credit Title Loans Online?
There’s another big difference between bank loans and online title loans: you save a lot of time and effort! No lining up to talk to a bank representative, no long forms, no going back and forth to the bank because of additional requirements, and no delays caused by confusion.
With Southwest Title Loans, you can start your application online and then complete the paperwork and vehicle inspection in just 30 minutes. And there is no risk of miscommunication or confusion because a loan representative personally assists you through the entire process.
Here’s how our bad credit title loans online process works:
How to Start Online With Southwest Title Loans
The online title loan process is designed to help you start from your phone, tablet, or computer before completing the remaining steps in person.
1. Submit an Online Inquiry
Start by completing the online inquiry form with your basic contact information and vehicle details.
Submitting the form does not guarantee approval. It allows a representative to contact you and explain the next steps.
2. Speak With a Loan Representative
After your inquiry is received, a representative can call you to discuss the title loan process.
During the call, you can ask about:
- Required items
- Vehicle eligibility
- Store locations
- Loan terms
- Funding timing
- Repayment expectations
- What happens during the vehicle inspection
Use this conversation to make sure you understand what to bring and what to expect.
3. Complete the In-Person Review
Bring your state-issued photo ID, lien-free vehicle title, and vehicle to the selected Arizona store location.
A representative will review your documents and inspect your vehicle. This step helps determine whether you qualify and how much may be available.
4. Review the Loan Agreement
If approved, carefully review the loan agreement before signing.
Pay close attention to:
- The loan amount
- Interest, fees, or costs
- Payment due dates
- Total repayment amount
- Late-payment terms
- Default terms
- Your ability to repay
Ask questions before signing. Do not accept the loan unless you understand the full repayment obligation.
5. Receive Funds After Approval
If the application is approved and the agreement is completed, funds may be available according to the applicable funding schedule.
Funding timing can vary based on approval, transaction timing, banking schedules, and other processing factors.
Apply For Bad Credit Title Loans Online Now!
By now you know that if you own a vehicle lien-free, you are eligible for a title loan, even if you have bad credit!
If you own a lien-free vehicle title in your name, Southwest Title Loans may be able to review your inquiry for bad credit title loans online in Arizona.
We’ve laid out the requirements and the process so you can go into it with confidence and get the money you need. If you’ve got a car and you need cash, then there’s only one thing left to do: fill out the form to get the process started.
Frequently Asked Questions
Can I get a title loan online with bad credit?
You can start the title loan process online with Southwest Title Loans. Bad credit does not automatically prevent you from applying, but approval depends on the completed review, vehicle value, title status, and other requirements.
Can the entire title loan process be completed online?
No. You can start online, but the final steps are completed in person because your documents must be reviewed and your vehicle must be inspected.
What items do I need for a title loan?
You generally need a state-issued photo ID, a lien-free vehicle title in your name, and the vehicle for inspection.
Do I need a lien-free vehicle title?
Yes. The title generally must be lien-free and in your name. A vehicle that is still being financed may not qualify.
How much can I borrow with bad credit title loans online?
Qualified applicants may be eligible for up to $15,000. The actual amount depends on the vehicle evaluation and application review.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
