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Are title auto loans a bad idea?

Updated: 9/20/2023
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12y ago

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Auto title loans are not necessarily a bad idea, but they do have very high interest rates that you will have to pay back in addition to the money of the loan that you go. You also need to be sure that the company that you are borrowing from is reputable.

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12y ago
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Q: Are title auto loans a bad idea?
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Loan for someone with no credit history?

People with no credit history or with bad credit can get a car title loan. Car title loans, also known as "auto title loans", "pink slip loans" or just "title loans", is a fast way to borrow money using a person's vehicle as collateral. The owner of the car is able to get the money he needs and also retain the use of his car while paying off the loan which makes it one possible solution.Some companies even refer to these loans as bad credit personal loans, because they are so suited to people with bad credit or even no credit at all.


I need a loan. Where can I get one with bad credit?

search the net would probably be the easiest way. google the type of loan you are looking for and end it with bad credit. i.e. auto loans for people with bad credit. however if you need money for an emergency. your best bet is probably to do a payday loan or a title loan. but title loans come with an extremely high interest rate.


Are interest rates on auto loans much higher if you have bad credit?

Interest rates on auto loans are much higher with bad credit compared to an auto loan with good credit. Many times a person with bad credit will receive an interest rate of 18% and up.


How can one get a bad credit auto loan?

If one has a poor credit history, there are still a few options for auto loans. One can negotiate a loan with their current financial institution, or obtain a loan from lenders such as Auto Credit Express or Valley Auto Loans.


Why would someone be interested in no credit check auto loans?

Someone might be interested in no credit check auto loans if they have bad or poor credit. Most major loan companies conduct credit checks and will screen out those with bad credit.

Related questions

What exactly are title auto loans?

Car loans I've been told are a serious bad idea and should be the last thing you would want to do. A title auto loan is where you basically put your car up on the line as collateral and the interest on it will definitely make you wish to never go on a loan ever again. DON'T DO IT, unless its really really important.


Loan for someone with no credit history?

People with no credit history or with bad credit can get a car title loan. Car title loans, also known as "auto title loans", "pink slip loans" or just "title loans", is a fast way to borrow money using a person's vehicle as collateral. The owner of the car is able to get the money he needs and also retain the use of his car while paying off the loan which makes it one possible solution.Some companies even refer to these loans as bad credit personal loans, because they are so suited to people with bad credit or even no credit at all.


I need a loan. Where can I get one with bad credit?

search the net would probably be the easiest way. google the type of loan you are looking for and end it with bad credit. i.e. auto loans for people with bad credit. however if you need money for an emergency. your best bet is probably to do a payday loan or a title loan. but title loans come with an extremely high interest rate.


Are interest rates on auto loans much higher if you have bad credit?

Interest rates on auto loans are much higher with bad credit compared to an auto loan with good credit. Many times a person with bad credit will receive an interest rate of 18% and up.


Where can one find information on bad credit used car loans?

One can find information on bad credit used car loans from: Drive Time, eLoans, Bank Rate, DMV, Best Auto Lenders, Auto Credit Express, Cars Direct, Road Loans, Auto Trader.


Where can one find more information about auto financing with bad credit?

You may find additional information about auto financing with bad credit on the Approved Car Loan, or Family Loans websites. These websites offer almost guaranteed auto loans.


Where can auto loans specific to students be found?

Auto loans for students can be found online from Cars Direct. Cars Direct specializes in offering auto loans to students and those who have no credit or bad credit. You can get a free quote from the Cars Direct website.


Can Veteran's Affairs issue auto loans?

Does the veterans administration help veterans with bad credit get loans to purchase automobiles


Which companies offer car loans to people with poor credit?

There are various companies that offer car loans to people with poor credit. Some of the companies that offer bad credit auto loans include Federal Auto Loan and BlueSky Auto Finance.


What companies offer personal auto loans to consumers with bad credit?

Some companies that offer personal auto loans to people with bad credit are EasyAutoLenders, CarsDirect, and AutoCreditExpress. All of these companies have highly trained staff that can help anyone with bad credit.


Can one have bad credit and obtain auto loans?

One can have bad credit and still be able to obtain auto loans. One can go to the website of CarLoanExperts dot com and apply for the loan. Approval will be given the same day.


Which companies provide private party auto loans for individuals with bad credit ratings?

Upon researching to find companies that provide private party auto loans for individuals it has been discovered that there are a few companies that offer these loans. One company with private party auto loans is Cars Direct.