What is the Best Loan Guaranteed with Bad Credit?
A title loan bases your loan approval on the current equity value of your vehicle and your ability to repay the loan instead of your credit score.
Everyone who has experienced life with bad credit has asked the question “What is the best loan guaranteed with bad credit?” at some point or another. They ask this because they know from experience how difficult it can be to get funding in an emergency situation with a bad credit score. According to the business magazine Entrepreneur, the credit score is the adult version of the SAT/ACT. Ever since we opened our doors in 1994, we, at TFC Title Loans, have worked tirelessly to help those who have had doors slammed in their faces get the funding they need through title loans.
Your credit is an incredibly important part of your finances and you need to improve it somehow. We offer the opportunity here to borrow money with a less-than-perfect score so that you can pay it off and improve your credit exponentially. The best loan to get with bad credit is a secured loan that requires collateral so that your approval is not based on your score. For 25 years now, we have made consumer education and lender transparency top priorities because we believe our clients ought to be informed on every aspect of the process. In this informational article, we will explicate all the ways in which title loans are the best guaranteed approval loans for those with bad credit and explain how we are able to lend you money despite your credit score.
We are deeply passionate about friendly customer service which is why we have created numerous resource pages to assist our customers. We also make ourselves available during extended business hours, solely for your convenience. If you wish to learn more about the title loan process, then please continue reading. If you have decided that the best option for you as a sub-prime borrower is a title loan, then fill out our online application or give us a call today!
Why We Help Individuals with Bad Credit?
The answer to this question is simple: we understand the struggle. It is so difficult to find help when you need it if you are defined by a number. At TFC Title Loans, we don’t see individuals as numbers but rather as human beings who are in financial crisis. We do all that we can to meet you where you are at and lift you up to a brighter financial future. We only check your credit score to ensure that you are not in active bankruptcy or currently undergoing credit counseling. We never let the number determine our decision.
How It’s Possible for Us to Lend to Individuals with Bad Credit?
We are able to lend money regardless of your credit score because we are in the business of lending secured loans rather than unsecured loans. Unsecured loans require high credit scores because there is too high of a risk without collateral behind the money being lent. Title loans utilize your car as collateral. We sign on as the lienholder on your car’s title, otherwise known as it’s pink slip, and hold onto that document for the life of the loan. Although, we place a lien on your vehicle you can still use it as normal as you make the monthly payments according to a schedule that we uniquely alter for each individual’s specific circumstances. The simple act of placing the lien on your car’s title ensures that there is collateral if the loan was not repaid. However, we do everything within our power to equip you in such a way so that you can easily repay the loan successfully and on time.
How Paying Off a Title Loan Can Improve Your Credit?
A title loan, from TFC Title Loans, could be the exact thing you need to rebuild your low credit because you can get one regardless of your score. Countless additional opportunities for increasing your score refuse to lend any money to you if you don’t have a perfect credit score such as traditional loans, credit cards, or housing agreements which leads to an endless and unfair cycle. These institutions want you to have an awesome score but won’t offer you the chance to improve it. But here is the good news: title loans are different. By merely paying your lender on time as dictated by the repayment schedule set about in the loan terms, you will instantaneously cause your credit report to look outstandingly improved.
A title loan from TFC Title Loans can be the best loan option with guaranteed approval out there. Additionally, it can give you the opportunity to rebuild your credit so you might give yourself a strong financial foundation so to be able to apply for lower-interest loans in the future. If, after reading this informative article, you have any remaining questions about title loans then give us a call today. Though, if you find yourself ready to get started in the title loan process then fill out our online application today!