If you have poor credit, you may think that it’s impossible to qualify for a loan without first making improvements to credit score, but that’s simply not the case!
What Are My Options?
You might be surprised to find out that there are tons of available loans for people with poor credit, no matter how bad their credit score might be. Even people who have declared bankruptcy, had their home foreclosed on or had vehicles repossessed can get loans.
If you’ve got terrible credit, but need a loan, don’t worry, because Car Capital Financial could get you the cash you need in just a matter of minutes. Call us now at 1-888-500-9887 to find out how we can help!
Poor Credit Loans:
Title Loans
If you have a dismal credit score, the chances are that you will struggle to get a conventional loan, like one from a bank. You can save yourself the humiliation of asking friends and family for help by taking out a cash for title loan on any vehicle that you’ve paid off entirely, or nearly paid off, and you can get that money today from Car Capital Financial.
Our car title loans are safe, reliable and best of all – they’re affordable. We do not require credit checks, down payments or even that you leave your vehicle with us while you make loan repayments. In fact, all you need to get a poor credit title loan from us today is to call us right now at 1-888-500-9887. Title loans are issued based on your ability to repay the loan.
You can use the equity you’ve built up in your car as collateral to get a secured personal loan directly from us, which you’ll have the luxury of repaying over a period of 36 months. And best of all, unlike neighborhood loans and other forms of quick cash schemes, we won’t require that you pay off the full loan by the time you receive your next pay check.
Credit Unions
Credit unions are easier to get loans from than traditional banks, but depending on how bad your credit is, they may or may not be willing to lend to you. Credit unions may be willing to offer small loans for people with poor credit, but if you need a large amount of money, then you may not be able to get that funding here.
Credit unions are typically more willing to lend than traditional banks because they’re nonprofit organizations that assess potential borrowers on a more personal basis than traditional banks (who see you as little more than a credit score). Credit unions are more willing to analyze your current employment situation, including your current salary, review your personal credit history, and then make a more educated decision on whether or not you qualify for a loan.
Advantages to going through a credit union are that they are one of the cheapest poor credit lenders around, with low interest rates and easy repayment schedule, but the main disadvantage is that they likely won’t fund you if you need a lot of money, or if your credit is truly terrible. It’s worth a shot though!
Friends & Family
Most people attempt to avoid taking out loans from their friends and family at all cost, but people who need loans for poor credit scores should at least ask those they know for assistance. If you take this route, make sure to be honest about your financial affairs, reaching out only to those who you think might really be willing to hep.
You may be surprised at how generous your friends and family can be, especially after they know that you’ve having a particularly hard time getting your finances in order. Be cautious about borrowing money from them because it could lead to problems further down the line, especially if you think you’ll have any trouble paying the loan back.
Do not take out a loan from your friends or family if you aren’t absolutely certain that you’ll be able to pay it back, as this is the fastest way to completely ruin an otherwise great relationship! However, even though you may have never thought of your friends and family as poor credit loan lenders before,now that you’ve got your back up against the wall don’t be ashamed to reach out to ask them for help.
Neighborhood Loans
This is one form of lending that exists specifically to provide loans for people with poor credit scores, and who serves basically no other population, and for one simple reason: no one who can get money from another source would visit a neighborhood loan lender! Neighborhood loans are available in every major town or city across America, and it’s likely that you’ve got a neighborhood loans lender within just a few miles of your house.
Payday loan centers specialize in offering loans for poor credit scores, but the problem is that they cost entirely too much and can often lead to serious financial hardship down the line. Neighborhood loans typically require that the entire amount lended be paid back by the time borrower’s receive their next paycheck, which makes it virtually impossible for borrowers to live up to their contract, and which causes their interest rates to rise.
Since neighborhood loans typically start out with some of the highest interest rates in the entire lending industry, including among those lenders who specialize in offering loans with poor credit, the added interest increase can make a neighborhood loan virtually impossible to pay back. Not only is the interest expensive, but there are typically also other hidden costs, like prepayment penalties, hidden fees and other tricks to keep you from ever being able to pay back your loan in full.
Neighborhood loans are so dangerous that a variety of states have even outlawed them entirely in an effort to protect their citizens from this shady form of lending, so even if you need money now, be sure to check out all other available options before hitting up the neighborhood loans center down the street. You’ll need to be exceptionally careful to make sure that you don’t permanently ruin your finances!
Online Loans
Google searches reveal a plethora of online lenders willing to provide loans for people with poor credit scores, but are these companies trustworthy? In many cases, not at all! Most of these sites operate similar to neighborhood loan officers, demanding nearly immediately repayment of their loans, along with excessively high interest rates and other fees that make getting money from them prohibitively expensive.
Along with those risks comes the fact that tons of online lending websites are simply scams, set up by people in foreign countries attempting to steal your personal information for identity theft purchases. Be careful about who you give information to, as you could soon find yourself with unwanted new sources of credit, including fake credit cards, car loans, and other loans or sources of funds that you never received, but will be responsible for paying back!
About Car Capital Financial
Getting a loan from a reliable source can be a major challenge if you have a poor credit score, but we can make that easy for you. We’ve provided loans for people with poor credit for over 15 years, and we can help you right now!
Call now to schedule a meeting at one of our many Southern California locations, where we’ll assess the value of your car and offer you the cash you want on the spot. We can get you the money you need in as little as 30 minutes of receiving your phone call, but we can’t do anything until we hear from you.
Call 1-888-500-9887 to get the financial assistance you need along with the customer service that you deserve!