If you have ever obtained a loan before, you know that your credit score plays a big part in determining your eligibility. Because of this, many people with low credit scores find it hard to qualify for a loan. But the great thing about title loans is that your credit score plays almost no part in the eligibility process.
Your credit has little to no part in the approval process for a title loan. The main factor that is closely regarded is the make and condition of your vehicle.
How MaxCash Values Your Car for a Title Loan
Your credit score is not the determining factor when applying for a title loan. That honor goes to the value of your car. There are several factors that go into the evaluation of the vehicle’s equity. The make, model, year, and the mileage are all taken into account.
The condition of your car is quite important when it comes to estimating the value of it. If your car has any modifications that aren’t standard with the original design, then the value may be reduced, and you may be disqualified from acquiring a title loan. But if you do have added design features, worry not, just let a MaxCash agent know and we will try and match you with a lender.
At MaxCash, we have the experience and the know-how to help you through the process of acquiring a loan. If you allow us the opportunity, we can take away the stress of finding a lender because we compare dozens of lenders and rates for free. And while you pay-off your new loan, we’ll be with you every step of the way.
MaxCash if here to provide you with any financial help you may need. Whether that’s getting a title loan, home loan, or even a business loan, MaxCash can help with all of it. And best of all, our services are completely free.
The Approval Process of a Title Loan with Low Credit
To get approved for a title loan through MaxCash, you must first fill out our online inquiry form. This form will ask several personal questions to better know you and your car. After the inquiry is submitted, you will need t provide several pieces of documentation to verify your information.
The information required by lenders will be:
- A government issued photo ID
- The title of your vehicle
- Pictures of your vehicle (all four sides)
- Proof of vehicle insurance
- Social Security Number
- Proof of income
Once MaxCash receives your information and documentation, we will have our highly trained staff review it. We’ll call you to let you know if you have a good chance of being approved. Along with evaluating your potential for obtaining a title loan, we will also find a suitable lending company that will work best with your individual needs.
Once approved for a title loan, we will send your information (with your permission) to the most compatible lender. When the lender reviews your information, they will contact you directly and provide you with a quote for the maximum amount they will be able to lend you, as well as the interest rate that will accompany that loan.
Once the loan amount and the term length are agreed upon, the lender will inspect the condition of your car and you will be asked to sign an agreement.
With our financial expertise and our network of cultivated lenders, MaxCash can help borrowers with any financial situation. So, whether you need help figuring out how to consolidate debt, refinance a loan, or even obtaining a loan, MaxCash has the knowledge and know how to assist.
But you don’t have to trust what we say, as you can see what we have to offer for yourself by calling (833) 207-9052 or by sending an email to firstname.lastname@example.org. Our services are completely free so don’t hesitate to reach out.