Get the Quick and Convenient Financial Help You Need!
The residents of Louisiana are a resilient bunch, but no one is immune to experiencing hard financial times. With the recent inflation rise, many people struggle to pay their monthly bills. Over half of all Americans can’t save enough money to have more than $1,000 in their accounts at any time.
When an emergency strikes, you may not have the safety net to take care of yourself. It only takes one lousy month to throw your finances off indefinitely, and that can be a scary situation to find yourself in. If you live in Louisiana but need money quickly, you can inquire about online title loans!
Unlike traditional bank loans, which can deny people funding with bad credit scores, title loans can be accessible to those with poor financial histories! Your credit score will be checked during your inquiry, but lenders care more about other factors.
Online title loans can be convenient and quick options for those struggling to consolidate their debt. Start your inquiry today by filling out this pre-approval form or calling to speak directly with a representative. It can be easier than you think to find a car title loan online with instant approval in Louisiana!
How Do Online Title Loans Work in Louisiana?
Applying for an online title loan can be simple, but you must learn about the process before getting started. This information ensures you are clear later during your inquiry or repayment time.
Title loans work by allowing people to borrow money from lenders using the available equity in their vehicles. You can inquire about this financing option if your car has some positive equity. If you obtain approval, lenders will place a lien on the vehicle title and remove it after you pay the funding back.
Failure to pay your title loan back can result in car repossession, so you mustn’t miss any monthly payments. If you’re struggling to pay your loan back, contact the lender to explain your circumstances, and they may be able to provide alternative assistance!
Title loans are considered unsecured options because they use the vehicle title as collateral in exchange for funding. Unsecured loans do not rely on physical assets– instead, lenders will check a person’s credit score to determine their eligibility.
Why Are Credit Scores Important for Unsecured Loans?
Credit scores tell big banks how ‘responsible’ a person is regarding their money. If you have a history of unpaid bills, lots of credit card debt, or opening and closing many accounts, this can indicate to traditional lenders that you’re not good at paying loans back.
Lenders will look at your credit score with a title loan, but they care more about how much equity is in your vehicle and if you have enough income to repay the loan. The amount of equity your car has can affect your approval and possible loan amount, so it’s crucial to determine!
Consistent income proof doesn’t mean you must work a traditional 9-5 job– it simply means that you receive payments from an outside source steadily for more than 90 days. You can be unemployed when applying for a title loan, but you can not use government unemployment checks as proof.
What Income Proof Is Acceptable for an Online Title Loan in Louisiana?
Many alternative income sources may be acceptable during your inquiry for an online title loan! This factor is why title loans can be much more accessible options to people from a variety of backgrounds– you don’t need a traditional job or excellent credit to qualify potentially.
For an online title in Louisiana, you can use the following income:
- Worker’s Compensation
- Social Security Benefits
- Alimony/Child Support
- Some Self-Employment
- Settlement Income
- & More
Providing income proof during a title loan inquiry is not just a requirement; it’s a federal law! Before approving a loan, lenders must check that a person has enough money. This rule prevents predatory lending practices, like entering the debt cycle!
If you have questions about your income circumstances, contact a title loan agent today!
Apply for an Online Title Loan in Louisiana Today
If you’re struggling to pay your bills or an unexpected expense pops up, applying for an online title loan could be the answer you need! The inquiry and approval process can be quick and convenient, and some qualified borrowers may even obtain approval within the same business day as starting. It can be easier than you think to find car title loans online with instant approval in Louisiana!
Find out if you qualify for funding by filling out this pre-approval form or calling to speak with a title loan agent.