Maybe you’re short on cash and need quick bad credit car loans to cover some unexpected expenses. Or maybe you’ve been turned down for a traditional loan and are looking for alternative options. Whatever the case, a car title loan can be a great way to get the money you need fast. These loans are based on the value of your vehicle, rather than your credit score. Plus, they’re easy to qualify for.
However, there are a few things you need to do to improve your chances of approval when you apply for a car title loan with Panhandletitleloan.com. Here are 5 of them:
Attach All Required Documents
One of the simplest ways to improve your chances of approval when you apply for a car title loan with us is to ensure you attach all required documents. These include proof of residency, which can be in the form of a bank statement, phone bill, or utility bill with your full name and current address. You will also need to provide proof of income, demonstrating that you have at least $1,000/month in net income from a job or other source. Pay stubs, bank statements, or other similar documents can be used to verify your income.
Speaking of income, be sure to mention all your income sources, and don’t try to exaggerate your income to qualify. We will check on this and if we find out that you were not honest, it would likely result in your loan being denied. So just be truthful from the get-go and provide all the necessary information we need for us to process your loan application.
Have a Clean Car Title
One of our top requirements when applying for a bad credit car title loan with us is that you must have a clean car title. A clean/clear car title is a sign that your vehicle has no current encumbrances against it, like another loan or lien. Additionally, a clean title also indicates that the vehicle has not been stolen or involved in any major accidents. Having a clean/clear car title will assure us of your reliability as a borrower and increase the chances of your loan being approved.
Bring In Your Vehicle for an Inspection
When you apply for a car title loan with us, one of the things we’ll need to do is inspect your vehicle. This may seem like an extra step, but there are three good reasons why we require an inspection.
- First, it helps us to determine the value of your vehicle.
- Second, it gives us a chance to make sure that your vehicle is in good working condition.
- And third, it helps us determine the loan amount you can qualify for.
By taking a few minutes to bring your vehicle for inspection, you can help us to make a more informed decision about your loan application. As a result, you’ll be more likely to get the money you need – and you’ll be able to get it more quickly.
Check For Errors
Another way to increase your chances of approval is to check for errors before you submit your application. Here are some common mistakes loan applicants make:
- Incorrect personal information – This can include your name, address, or bank account. If any of these items are incorrect, it could negatively impact your chances of approval.
- Missing signatures – Every form must be signed before it can be considered complete. Be sure to review each form carefully to make sure all required signatures are in place before submission.
- Blanks: Another common error that applicants often make is leaving blanks on their application. Leaving blanks indicates to us that you do not have the information we are asking for, and this will only delay the processing of your loan. If a question does not apply to you, write “N/A” in the space provided.
Pick a Realistic Bad Credit Car Loans Amount
Last but not least, be sure to choose a loan amount that you can realistically afford to repay. Not only will this improve your chances of being approved for a loan, but it will also help you avoid falling into a cycle of debt.
There you have it–five key things to do if you want approval on bad credit car title loans. Keep these things in mind and your chances of approval will significantly increase.
Need a car title loan? Panhandletitleloan.com is here for you. We have competitive rates and there are no hidden costs. You also get to keep your car. Apply today!