One of the things that trip a lot of people up when it comes to getting a loan is the dreaded credit check. You know you need some extra cash, you know you have the income and the desire to pay it back, but that credit check ends up ruining everything.
Obviously, it isn’t the credit check’s fault you’re declined or even the loan company. Sometimes, your past situation just hasn’t had a chance to catch up to your current situation, and the credit check reveals you may have trouble paying that loan off, even though it isn’t true.
However, you still need some money, so how do you go about getting a loan with no credit check to hold you back?
Do You Own a Car?
If you own a vehicle, the matter of getting a loan without a credit check may be solved. Car title loans are loans where you put up your car as collateral against the amount of the loan.
If you’ve been having trouble getting a loan because of the credit check, car title loans enable you to get the cash you need, and the lender feels secure because your vehicle is there for protection if things should go sour. Once you provide proof of ownership of the vehicle, you can usually borrow money very quickly – sometimes within 24 hours!
Benefits
Naturally, the biggest benefit to getting car title loans is that the borrower gets the money quickly and without all of the potential snags of getting a regular loan. In fact, the simplicity of the process benefits both the lender and borrower.
What You Need to Know
Even though car title loans make it possible for many people to get loans when they ordinarily couldn’t, you should still use some caution when seeking one out. It’s understandable that you’d be excited to have access to extra funds, but take the time to read over the terms and conditions before you take it.
Stick with a reputable company that offers a term and rates you find reasonable, and who won’t penalize you if you decide to pay your loan back early.
Fast Access Finance offers a variety of loans for people with bad credit, good credit, or no credit history. Contact us now to find out if you qualify for a loan with no credit check.