May 24, 2017
In the U.S., there is one other fact of life more certain than death and taxes: credit. Whether it is good or bad, credit dictates how we get to spend and manage our money. When your FICO score is good, life is easier. Your car insurance and interest rates are lower, applying for a new apartment or mortgage is easy, you’re more employable, and it turns the lights on when moving into new digs. Perhaps most beneficial of all: when you have good credit, you can get even more credit for medical emergencies or unexpected expenses.
Good credit sounds great, so naturally there is a catch: it is tenuous. Several factors—like maxing out your credit cards, defaulting on student loans, or just simply forgetting to pay a utility bill or car payment—can send your score into a Fair or Bad classification. This is why bad credit is just as common as good, and shouldn’t be seen as a reflection of character. It is a fact of life that many Americans contend with. According to FICO, 20.7% of the U.S. population holds a credit score of 600 or below. Even so, low scores aren’t hopeless ones. Just as your good rating can be changed by a few financial mistakes, a bad rating can be improved with good money habits like paying your bills on time and keeping your credit card balances low.
What happens if a financial emergency arises while you are trying to rebuild your bad credit? Regardless of your FICO score, air conditioners are going to break, little Jimmy will need a new crown, Captain Woof will visit the vet, and tires will go bald. Something is going to happen that you need to take care of (and pay for) immediately. How? Lenders won’t give you the time of day, and the APRs on new credit cards will be sky-high.
However, there is one quick and easy option available: a car title loan if you have bad credit. A title loan allows you to leverage the value of your vehicle to get the money you need to cover those extra expenses. At Mid-South Title Loans in Memphis, no credit checks are required. All you need is to bring your car, its lien-free title, and your photo ID to our office. While you complete a simple application, we appraise your vehicle. A car title loan if you have bad credit from Mid-South Title Loans in Memphis ranges from $150 to $2,500 based on the value of your vehicle. Based on your car’s value and your ability to repay your loan, you’ll leave our offices with cash and car keys in hand within 20 minutes. We’ll hold on to the title while you repay the loan. When it has been repaid in full, you get your title back, along with our sincere thanks.
At Mid-South Title Loans in Memphis, we understand that life happens regardless of credit scores. With no required credit checks, we want to help you get the money you need, when you need it. We have three convenient locations throughout the Memphis metro to serve our customers: 1680 Winchester Rd, 4965 Summer Ave, and 2798 S. Perkins Rd. If you’re searching for a car title loan if you have bad credit in Memphis, all you have to do is fill out our convenient Title Loans Online Info Sheet, or stop by any of our three Mid-South Title Loans locations in Memphis and see us today.