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Do Title Loan Lenders Check For A Borrower’s Credit Score?

If you’ve ever gotten a loan from a bank, you know that your credit score plays a big role and that they will for sure do a credit check. But what if you want to get a title loan? Do you have to go through the same thing with lenders checking your credit? And if you have poor credit, does this mean you can’t get title loans?

Well, you’ll be glad to know that we here at Southwest Title Loans will not automatically disqualify you. Keep reading to learn more about the role your credit plays here.

Is A Credit Check Necessary For A Title Loan?

To answer your question quickly, there is always a chance we will have to check your credit before we can let you know if you qualify for approval. It boils down to how much money we determine we can lend to you – which can be anything up to $15,000. If we determine you can possibly qualify for a higher amount of money, we will check your credit before we determine if you qualify for approval. However, that doesn’t automatically mean poor credit will get you disqualified.

woman calling about title loan process and credit score

Can I Still Qualify With Poor Credit?

As we said above, having poor credit doesn’t mean an automatic disqualification from title loans. We will still welcome you to come in and see if you qualify despite having poor credit. You see, your lien-free title serves as collateral for the loan, so this means we don’t have to base everything on your credit score. That gives working people who have suffered some setbacks access to money for emergency expenses. And, as we said, a credit check isn’t always mandatory.

What Items Are Required If Perfect Credit Isn’t?

If perfect credit is not required, you are likely wondering what items are required. Like with any loan, there are certain items we need to see to determine if you qualify for approval. The good thing is you don’t have to bring in too many items for us to make a decision. You just have to bring in a few simple things that you more than likely already have nearby. In fact, all you need is the following:

  • Your driver’s license or state-issued photo ID to prove you are not a minor.
  • A lien-free car title that is in your name for you to use as collateral.
  • The vehicle so we can inspect it to determine the loan amount.

Can Title Loans Fix My Poor Credit Permanently?

While we’ve mentioned that you can get this loan while having poor credit, that doesn’t mean you can fix your credit score just by getting this loan. If your end goal is to permanently fix your poor credit, this isn’t the loan you need. Title loans are just for emergency expenses like medical bills, late utility bills, or even emergency home repairs. This means it isn’t a means to permanently fix your finances – it just helps make emergencies easier to manage.

What Does The Actual Process Look Like?

Now that you know the role your credit score may play and the chances of getting a credit check, you can begin the process. You begin the process by filling out the online form on our website so we can get your basic information into our system. Keep in mind that this isn’t the official application, but it allows us to call so we can set up a meeting for you. This meeting can happen either at the nearest store location in Arizona or at another location of your choosing.

person looking up credit score online

Regardless of where you decide to meet, just be sure to bring the vehicle and all your required items to the meeting so the loan representative can assess them. The loan representative will inspect the vehicle to determine its resale value – which is based on a nationally recognized pricing guide – and the car’s condition. Once they assess everything, they will determine how much money you could get and if you qualify for approval.

We will also determine if we need to check your credit before making a decision. If you do qualify for approval, all you will have to do is sit with us while we go over the loan terms and help you finish the paperwork. The paperwork is your loan agreement and reiterates all of the loan terms. After the paperwork is complete, you are done! You can get into your vehicle and wait for your money. You can expect the money later the same day or the next bank business day.

Get The Loan You Need Despite Your Poor Credit

When you need title loans, you shouldn’t let your credit score stand in your way. Whether or not we have to do a credit check, we will still welcome you to come in and get through the process. Unlike bank loans, we will not automatically turn you down just because of a poor credit score. So, if you are dealing with an emergency expense and struggling to stay afloat, don’t hesitate to get this car title loan. We here at Southwest Title Loans are here to help. Fill out the online form now to get started.


Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Daniel Dewitt

Daniel Dewitt is a lifetime blogger with a finely-honed ability to break down, analyze, and interpret economic trends for the layman. He's fiercely invested in spreading financial literacy and helping everyday people gain the tools they need for their own economic success.

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