Getting A Loan With No Credit

Jul 26, 2021
Title Loans


You can never be too prepared, but sometimes life can throw a massive curveball your way. We're living in an era where your credit score affects how far you can go in life. It's easy if you can afford the basic cost of living and there are no unexpected surprises. Except sometimes you'll be hit with an expense that you weren't prepared for. It could be something small and an easy fix if dealt with immediately.

 

For example, ignoring the rattling sound your car makes. Until you can't ignore it anymore and bigger problems are discovered. It could be something bigger from the get-go such as expensive medical bills. There are times when you can make repayment plans and pay things off. Then there are times when these small or large costs end up needing to be paid as soon as possible. The thing is, you may not have any extra cash on hand or a decent credit score, but is it possible to get a loan with no credit?

Getting A Loan With No Credit

Surprisingly enough, it IS possible to get a loan with no credit. Depending on the lender you choose. You may end up paying high interest rates with less than favorable terms. When you're desperate you may even think of turning to loan sharks for "help". This is especially true if you're in need of cash urgently and don't have enough time to get it together.

 

Yet with certain lenders, you may end up caught in never-ending debt. Life can be tough, and it takes a company with heart to understand this. At Rapid Auto Loans, we've got you covered.

Are Title Loans The Way To Getting A Loan With No Credit? 

With a title loan, you essentially list an asset such as your vehicle as collateral for your loan. This means that if you are unable to repay your loan, your car is taken instead. An added bonus of taking out a title loan against your car is that you're still able to use your car. So, throughout this process, you won't be without a vehicle.

 

To qualify for a title loan on your vehicle, you need to either own it outright or have some form of equity in the vehicle.

How Does It Work? 

You may be shaking your head because nobody would get a loan with no credit. Even if they have a vehicle they could use as collateral. At least not in the traditional finance world. You'd be laughed out of the bank if you even attempted it. Once you've filled out a no-hassle title loan application online or on the phone, a loan amount will be decided based on that information as well as the value of your vehicle. You will need to make an appointment and visit one of our authorized inspection centers. This is only to confirm everything you've told us on the application. It can take up to 30 minutes to verify everything and you'll be off with the money you need.

 

Keep in mind that your car must have active insurance in place before a loan can be granted.

The Rapid Auto Loans Way

Unlike traditional financiers or even other competitors, at Rapid Auto Loans we care. Instead of the traditional 30-day title loan, with us, you'll get 12 months to make your loan repayment. The first payment is only due 30 days from the date of the loan. There are various methods of making your monthly loan repayment. Additionally, as long as you make your repayments on time or let us know in advance if a payment will be late, you can receive a grace period. Call us at 954-960-7097 for more information on our car equity loans.

OTHER ARTICLES

loans for bad credit

It can be very common for your credit score to be lower than you’d like it to be if you’ve paid your bills late in the past or have a lot of debt. Bad credit can then put you at a disadvantage when it comes to getting approved for loans in the future. Rapid Auto Loans is here to help you and will approve your loan when nobody else will.

Getting A Loan For Car Repairs

When you need car repairs, there’s no time to waste. You rely on your car to get your kids to school, get to work, and live your life. Being without a car for even one day can be detrimental. That’s why if you need a loan for car repairs, Rapid Auto Loans can help. We don’t want you to be stuck without a car any longer than you have to be.

Can I Get A Title Loan With An Older Car?

Many people applying for auto title loans have the same question: Can I get a title loan with an older car? With Rapid Auto Loans, the short answer is, yes! Why should you be penalized because you don’t drive a newer car? But there are some considerations to be aware of. Here’s how you can qualify for an auto title loan.

Curb Expenses With These Money Management Tips

Many people struggle with money management. It can be tough to figure out the best way to utilize money, especially for Millennials on a tight budget.

What Are My Options For Quick Loans?

If you’re looking for quick loans, you’re in luck. You have a few options to choose from. Which loan you choose is completely dependent on what you need the loan for and your personal circumstances. When you’re shopping for a same-day loan, chances are your main options will fall into a few main categories.

The Best Ways For You To Build Credit

What Are The Best Ways To Build Credit?

Jul 23, 2021
Bad Credit Tips

If you have neglected your credit, you may think there’s no hope for improvement. Thankfully, that’s not true! Anyone can build credit with some time and patience. The steps on how to start building credit aren’t wildly known, but we’ve compiled a list of the best ways you can improve your credit.

Rapid Auto Loans is a consumer finance company licensed under Florida 516. The term title loan is used for marketing purposes only.
All loans have a repayment period of 12 months and there is no minimum prepayment penalty. Interest Rates are determined and approved by the State of Florida based on the borrowed amount and the maximum APR (which includes interest rate plus fees and other costs for a year) is 30%. You pay interest only for the time your loan is outstanding. Below is a representative example of the total cost of the loan, including all applicable fees:
3,233.68

APPROVED LOAN AMOUNT

0.00

Government Fee

25.00

Credit investigative Fee

11.55

Documentary Stamp Tax

3,270.23

Total amount Financed

11/1/2016

Original Loan Date

29.07%

APR

316.39

Monthly Payment (x12)

Rapid Auto uses “Auto Title Loans” for advertisement purposes only and provides auto equity loans. The lenders are licensed under the “Florida Consumer Finance Act” under Florida Statute 516 and as such lenders loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of lenders activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.