Utah Bad Credit Loans Using A Car Title As Collateral
Getting car collateral loans from Utah Title Loans, Inc. is quick and easy, thanks to its relaxed requirements and few required items. Still, it’s important to remember that your credit, good, bad, or nonexistent, won’t stop you from qualifying for one of these emergency cash loans!
In this guide from Utah Title Loans, Inc., we will explain how to get bad credit title loans in Utah. We will explain how you can use your car title for collateral loans and how you can get Utah bad credit loans without worrying about being rejected due to your credit score.
Can You Apply For Utah Car Collateral Loans With Bad Credit?
Yes, you can get a title loan in Utah regardless of your credit score. You can get bad credit title loans in Utah because your creditworthiness does not determine whether you can get approved. Traditional bank loans use creditworthiness as a requirement. At Utah Title Loans, Inc., we allow borrowers of all credit types, including poor credit or no credit.
Car collateral loans use your lien-free car title to secure the loan. The reason creditworthiness is so important for traditional bank loans because there is no collateral to secure the loan. They need to know you are trustworthy to repay the loan, and they prove that through your credit score. Car collateral loans are secured, so you do not need to prove good credit to be trusted with the emergency cash loan.
Will A Loan Lender Do A Credit Check For Utah Bad Credit Loans?
At Utah Title Loans, Inc., we will sometimes conduct a soft credit check for our car collateral loans. This soft credit inquiry is to verify your credit score and will not affect your ability to get approved for a Utah title loan.
The good part about soft credit checks is they do not affect your credit. A hard credit check will be listed on your credit report, but we do not report it to the credit bureaus. We will look to see your credit score, but your approval is based on other car collateral loan requirements. You can get car collateral loans for bad credit regardless of what we find on a soft credit inquiry.
Using Car Collateral Loans For Bad Credit During Financial Emergencies
One of the vehicle collateral loan benefits is you can get approved for lien-free title loans to pay for financial emergencies. These are unexpected events where you have to pay expensive bills or costs. Many may not have the money in their bank account to afford hundreds or thousands of dollars in financial emergency costs.
However, Utah car title loans for bad credit can help you afford these costs. Borrowers can get approved for up to $15,000 in emergency cash using their lien-free car title.
Getting bad credit title loans in Utah can help pay for the following financial emergencies:
1. Medical Bills
Fast approval bad credit loans can help when you face medical bills. You can have to pay for medical expenses when you get injured or sick unexpectedly. Your health insurance may not cover the total cost of your medical costs, especially if you need to get surgery.
You can get approved for thousands of dollars to pay for expensive medical bills with bad credit title loans in Utah. Some medical costs you can pay with car collateral loans for bad credit include hospitalization, ambulatory services, surgical costs, medication, and physical therapy.
2. Late Bills
Situations can arise where you can no longer afford your rent, mortgage, or utility bills, such as your bills being increased or losing your job right before money is owed. In this situation, you can turn to car collateral loans for bad credit to help get the financial relief you need.
While you can get approved for up to $15,000, you do not need to borrow thousands of dollars. In this situation, you may only need a couple hundred dollars to afford your monthly housing payments. Utah Title Loans, Inc. can help you afford these urgent costs with our bad credit title loans in Utah.
3. Home Or Auto Repairs
Houses and vehicles are not built to last forever. Repairs will inevitably need to occur, but the costs of these repairs may not be affordable for everyone. They may cost too much when they arise unexpectedly. Rather than living in unsustainable conditions or driving around a vehicle with a defective part, you can get fast-approved bad credit loans like Utah car title loans to get the cash you need.
Auto and home repairs can cost thousands of dollars. You can get approved for up to $15,000, with the total value of your car collateral loan depending on your vehicle’s value. A loan representative will inspect your vehicle during an in-person meeting to determine its value based on its year, make, model, mileage, and physical and mechanical condition.
4. Unexpected Travel Costs
There may be situations where you have to travel without having the time to prepare. You may need to go back to help with a family crisis or go on a surprise business trip. This can be pricy, as you don’t have the time to pay for the trip, and hotel rooms and plane tickets can be more expensive when purchased just a couple of days out.
Utah Title Loans, Inc. can help with these unexpected travel costs with our bad credit title loans in Utah. You can get fast approval for lien-free title loans to help get quick cash to pay for a trip that you only have a few days to prepare for.
What Are The Requirements For Utah Car Collateral Loans?
Since there is no credit requirement for Utah car collateral loans, what are the requirements to get approved for loans with Utah Title Loans, Inc.? We have very simple requirements for our car collateral loans, but we only need to verify a few details to allow borrowers to get approved for emergency cash. Verifying these requirements only necessitates borrowers having a few items.
The following are the car collateral loan requirements at Utah Title Loans, Inc.:
- Minimum age: Before any other requirement, you must be at least 18 to apply for one of these loans. Even if you’re only a few hours or days shy of 18, you’ll have to wait until you’re legally of age to start applying.
- Identification: For verification purposes, you must also provide a valid form of identification, like your driver’s license or another state-issued photo ID. That’s necessary to verify your age, identity, and vehicle ownership.
- Lien-free car title: Given that you’re using your car as collateral to secure the loan, you must have a lien-free car title as well. That title must be in your name and without any outstanding loans or judgments against it.
- Your vehicle: Lastly, you must also be able to bring your vehicle in for a quick inspection during the in-person application stage. You’ll get to keep your car afterward. The inspection is necessary to determine the car's worth and, by extension, how much you qualify to borrow.
As you can see, there are only a few title loan requirements you need to provide to continue with your application. Preparing them in advance will help ensure the application process goes as smoothly as possible.
How Do You Appy For Utah Car Collateral Loans?
Now that you understand you can get Utah bad credit loans using your car title as collateral, it’s essential to understand what you need to do to get approved for car collateral loans. At Utah Title Loans, Inc., we keep the vehicle title loan approval process simple to allow those in a financial emergency to get the emergency cash they need quickly. You only need to complete a few easy steps to get approved.
The following are the steps in the car collateral loan approval process:
Step 1: Submit The Online Form
To apply for one of these loans, you must first submit the online form with your basic details. At Utah Title Loans, Inc., we have an online inquiry form on our website’s homepage that you can fill out in just a few minutes.
The basic details required on our car collateral form include:
- Your name and ZIP code
- Your contact information
- Basic details about your car, like it's make, model, and year
After filling out the online form, double-check the information to prevent submitting inaccuracies, which you will have to correct later. Submit your online form and a loan representative at a Utah location near you will receive it.
Step 2: Speak To A Loan Representative Over The Phone
The loan representative will look over your phone and call you soon after you submit it. During this phone call, they will verify the information you provided and may ask for more to clarify what you need from your car collateral loan. You can also ask any questions you have about getting Utah bad credit loans.
After confirming your information, they will request a convenient location for an in-person meeting. This meeting is required to verify the items you must have to get approved. This meeting can happen anywhere that’s best for you, such as one of our Utah store locations, your home, or your workplace. Agree on a location, gather your required items, and head over there.
Step 3: Meet The Loan Representative
Next, you’ll meet the loan representative in person so they can verify your documents. This in-person meeting can take less than 30 minutes. They will verify to see that you have your state identification and lien-free car title in your name.
They’ll also perform a quick inspection of your car to check its condition. After referring to a nationally recognized pricing guide, they’ll tell you how much your car is worth based on its cosmetic and mechanical condition, mileage, make, model, and year.
Step 4: Sign Title Loan Documents And Get Your Emergency Cash
If you’re approved for a Utah car collateral loan, our loan agent will provide you with loan documents to sign. Upon signing the car collateral loan documents, you can receive your emergency funds through direct deposit.
Borrowers usually receive their emergency money the same day or the next business day. This allows them to easily use their car collateral loan to pay for urgent financial emergencies.
Get A Utah Bad Credit Loan With Utah Title Loans, Inc. Today!
You can get Utah car collateral loans for bad credit because you use your car title to secure the loan. Do not worry about your bad credit or nonexistent credit! At Utah Title Loans, Inc., we accommodate borrowers of all credit types. As long as you meet our other title loan requirements, you can get approved for the emergency money you need.
Take the first step right now by submitting the online form with the required details to bring yourself one step closer to getting a Utah bad credit collateral loan. We will contact you over the phone shortly to discuss what you need to do next to get quick vehicle collateral loan approval.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.