When you lack the income and credit score to get a traditional bank loan, you may wonder what options are available to you when you need cash now. You may not have a 401k to borrow against or any friends or relatives from whom to borrow money. You might believe you have few options when it comes to securing financing for emergency expenses.
In these circumstances, you may find that your best options is to use assets that you have at your disposal. When you have a car with a clear title, you may qualify for a title lien or one of the Jax car loans programs that are available online. Before you put in your application, you can review the terms and discover what perks can come with this type of financing for people who need to raise cash quickly.
No Credit Check
Mainstream lenders like banks and credit unions want loan applicants to have good credit scores in order to be approved for financing. If your score is below 650, you will be turned down for a loan in most cases.
However, getting a score of 650 or higher can be difficult if you have had credit troubles in the past or have a low income and few assets. Rather than rely on a bank to extend credit to you, you may prefer to do business with a lender that can use the value of your car to determine for how much cash you can be approved right now.
The loan available through the program right now bases the amount of your financing on the value of your car or truck. You may receive most or all of the value, which could be enough to pay your emergency expenses as well as leave you some left over just in case.
This type of application process spares you from a hard hit on your credit file, which itself will cause your score to sink. It also spares you from being rejected for having a score under the number required by most banks and mainstream lenders.
You can apply for financing on the website and save yourself an in-person visit or phone call. Once you submit the application, you can expect to hear back promptly from the company. You may receive your money in your bank account in a few days for your convenience.