Title Loans - How to Get One Despite Bad Credit

With car title loans, lenders can provide quick emergency funds for borrowers with bad credit. It is usually given for a pink slip that you must put up as collateral. If you fail to make the necessary repayments on schedule, your car and its title become the property of the lender. A pink slip loan is similar to pawning an item, except that many lenders allow you to keep your vehicle while making repayments. Pawn brokers, on the other hand, typically hold on to their collateral until the debt is repaid. Getting a Title Loan with Bad Credit Typically it is people with bad credit who opt for a pink slip loan. Most lenders will run a credit check prior to distributing any funds, but bad credit is not usually a deterrent for most lenders because the debt is secured by auto equity. In order for you to qualify for a title loan, you must own the vehicle being used as collateral and the vehicle must be paid off or nearly paid off. You'll need to show proof of ownership as well as your repayments on the car loan before you qualify. The lenders you choose may also consider your employment status and source of income when determining approval. They will usually offer you from 25 to 50 percent of the car's wholesale value.

Atlanta Title Pawn offers title loans for customers in the Metro-Atlanta and surrounding areas.