Title loans are known for having far fewer requirements than traditional loans, which makes them accessible to most borrowers. There are no credit checks, and lenders typically do not require detailed financial histories. Even so, understanding what disqualifies an applicant for a title loan is important because certain issues can still prevent approval. Most disqualifying…
Category: Title Loan Risks
Title Loans: A Double-Edged Sword for Subprime Borrowers
on December 9, 2017What is a Title Loan? A vehicle title loan is a secured loan that does not review a borrower’s credit history during its approval process. Also known as a title pawn, pink slip loan, or title pledge, title loans offer an alternative lending option to more than two million American adults each year. These short-term…