When you find yourself with bad credit, acquiring a loan with reasonable terms can be a challenge. Most traditional loans base approval solely on the applicant’s credit, which can limit the financial options you have. Fortunately for those who have bad credit, there may still be affordable loan options available in Dayton, Ohio.
One of these options is a title loan serviced by LoanMart, which can be more flexible with loan requirements while remaining a great loan option with competitive interest rates1.
Get a Title Loan with Bad Credit in Dayton, Ohio
Even if you find yourself in a financial situation that has left your credit worse for wear, you may still be able to get a good loan through title loans serviced by LoanMart1. A title loan serviced by LoanMart is secured through the use of your car title as collateral. The car title is returned to you upon full repayment of the loan, and although you are using the title to secure the loan, you may continue driving during the repayment process.
As a result of using collateral to secure the loan, you can potentially receive more flexibility. The use of collateral acts as a security factor for the financer and allows for flexible eligibility requirements. This means that while credit is considered during the approval process, it is not the most important determining factor. The borrower’s car equity and ability to repay are considered far more important.
On top of an easy approval process, there are other benefits available for those who are approved for title loan funding. These benefits can include competitive interest rates, manageable monthly payments, and more. Some residents in Dayton, Ohio were approved for funding the same day!
Qualifying for a Title Loan with Bad Credit in Ohio
Even if you are a potential borrower with bad credit in Ohio, qualifying for a title loan serviced by LoanMart may be easy1. To initially qualify for a title loan, you will need to:
- Be 18 Years of Age or Older
- Have a Steady Income
- Own a Vehicle in Your Name
Dayton Residents Should Have the Following Documents
While the process to get approval for an affordable loan through title loans serviced by LoanMart can be easy, there are some documents that are needed during the process, such as:
- A valid government-issued photo ID
- Proof of income (bank statement, paystub, workers compensation statement, etc.)
- Proof of residency (utility bill, voter registration card, etc.)
- Qualifying title to your vehicle in your name
- Photos of the vehicle
What to Use a Title Loan for in Dayton, Ohio
While financial hardship can happen to anyone, many title loan borrowers have been able to regain financial support with a loan.
Some ways that title loan customers have used their funding include:
Relief from Debt
It’s not uncommon for people to have found themselves in debt, whether from medical bills or credit card charges that have added up. Title loan funding has helped to cover these expenses in the past.
When a loved one departs and a funeral is planned, it can be devastating both emotionally and financially. Most families dip into their savings to meet these costs, but it can be more convenient to use funding from a title loan serviced by LoanMart to help ease the financial burden.
Emergency Travel Costs
Traveling can be expensive enough, with so many different expenses, but emergency travel can incur last-minute fees as well. If you need to travel for an emergency, don’t deplete your savings account to handle these costs, consider a title loan serviced by LoanMart instead.
Owning a home can be expensive. New costs appear all the time, such as leaky roofs and window damage. These maintenance and repair costs can quickly add up and using a title loan serviced by LoanMart to cover those expenses can help.
Benefits of an Affordable Title Loan in Ohio
Besides being an affordable loan option for residents in Canton, Ohio, there are tons of benefits available that come with choosing a title loan serviced by LoanMart:
- Through title loans serviced by LoanMart, there are extended repayment options1
- Eligible borrowers can choose how they want to receive their money
- Credit does not always matter during the approval process1
- You are able to keep driving your vehicle during the repayment process
- Honesty and transparency throughout the process
- The inquiry process can be done completely online1
- Title loans serviced by LoanMart offer competitive interest rates1
- There are no hidden fees or pre-payment penalty fees to worry about5
Why Choose Title Loans Serviced by LoanMart When You Have Bad Credit
Even if you find yourself with bad credit in Ohio, title loans serviced by LoanMart could be an option because anyone in need may be able to obtain funding1. Residents of Dayton, Ohio can apply and may approved within the same day! To get started with a title loan serviced by LoanMart, apply online to see if you qualify or call a loan agent toll-free.