I'd like to apply for $600 loan. And as I have a bad credit score I suppose Title Loan would suit me. I have a Chrysler Voyager 2000. And I can use it as a collateral. But I don't really understand how Title Loans work. Can I drive my car? Should I go to a store or I can apply online?
How do Title Loans work?

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Answers: 1
Andrew, in your situation Title Loans really make sense. They are absolutely available for bad credit borrowers and other requirements as well as all the application process are very simple.
At first you're recommended to do some online search for the most suitable lender. Learn the state's laws and regulations concerning Title Loans. Compare the lenders' rates and terms. Some of them offer a completely online process while others need you to bring your vehicle to a loan shop for inspection. Clear it out before applying.
As you've chosen the lending company, you may start an online application or find the nearest store and drive there. Any way it's better to check if you meet all the requirements and prepare the necessary documents. In most cases you just need:
- Loan application
- Lien-free automobile title
- Government-issued photo ID
- Photos of vehicle or vehicle itself
- Proof of income
- Proof of residency
- Photos of vehicle or vehicle itself
- Proof of insurance
- A list of references
Once you've prepared all these items you may start a loan application:
- Bring your car to the lender for inspection.
- Fill out an application form (if you haven't done it online).
- Get the lender's offer of the loan amount and terms based on the value of your vehicle.
- Leave the title to the lender and get your money in a few minutes.
- Do your best to repay the Title Loan on time not to be charged any additional fees and not to risk your means of transport.
As you see, it's rather quick and easy to get a Title Loan. Bad credit is not a problem and lenders don't usually do any credit check. If you don't have a car, or don't dare to provide it as a collateral, you can always apply for an unsecured bad credit Payday Loan up to $1000. Payday Loan lenders also provide same day funding, even to bad credit borrowers.
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