Personal Loan Requirements Explained
LoanCheetah

Experience fast title loans online in every corner of our nation. When you need cash quickly, rely on us for prompt and reliable support.

Let's Get Started
Instant Online Quote
Instant Online Quote

Get an instant estimate online.

Cash Same Day
Cash Same Day

Receive cash in your account within 24 hours.

Keep Your Car
Keep Your Car

Continue driving your car.

Personal Loan Requirements

If you are considering applying for a personal loan, you may be wondering what they entail. If you are needing money for any purpose, a personal loan online can be a great option to consider. Before you go and obtain a personal loan estimate, consider some of the important things about them you should understand before signing on the dotted line. When it comes to an online loan, you may be curious about what the difference between personal loans and installment loans are.

Differences Between An Online Personal Loan And Installment Loan

In a nutshell, an installment loan is a type of personal loan that can be paid back over a pre-determined amount of time. The monthly payments are typically the same each month. Common types of installment loans are mortgages, auto loans and student loans. Installment personal loans differ from short-term loans such as cash advances and payday loans which need to be paid back in full.

The typical loan term for a fast cash loan is between two weeks and a month. Personal loans and installment loans generally have loan terms between two and five years in length. When it comes to personal loans, there are secured and unsecured options.

Personal Loan Requirements- How To Qualify

Before you apply for an unsecured personal loan online, you need to show the lender you are not a risky borrower. A lender of an online personal loan will use a variety of factors to assess your risk. They want to determine the likelihood you will pay your loan back. Some factors they use include debt-to-income ratios, credit scores and your employment status. If you are thinking of filling out an application, below are some ways to make sure your application has a good chance of being approved.

1. Check Your Credit

For almost all loan types, a borrower’s credit score will have a significant impact on whether or not a lender will approve the application. Lenders do not generally disclose the exact scores they are looking for when determining approval. However, most will prefer good or excellent credit scores for their best rates. Before applying for any loan, check your credit to ensure there are no discrepancies to fix beforehand. You may also choose to order copies of your credit report from the top three credit bureaus. You can obtain a free copy from each bureau once a year.

2. Pay Bills On Time

If you have a credit score that is low, one of the best ways to improve it is by paying all of your bills on time. This will increase your score and improve your chance of being approved for a personal loan with a decent interest rate.

3. Pay Your Debts Down

Another major determining factor lenders use is your debt-to-income ratio. If you have a high ratio and are not in a big hurry to apply for a personal loan, take some time to pay down your debts. This can help raise your credit score and get you better interest rates on your loans.

4. Prove Stable Income

Lenders look at a potential borrower’s credit score to get an idea of their financial history. Lenders also like to look at other factors such as employment history and income when making their decision. They want proof that a borrower will be able to comfortably make all of their payments when due. Unstable employment in recent years could hurt your chance of getting approved.

5. Find A Cosigner

If you have less-than-stellar credit and you don’t have a solid employment history, you may be able to obtain a personal loan if you find someone to cosign with you. The cosigner will need to have good proof of income and a great credit score. Keep in mind that a cosigner will be assuming responsibility for the loan if you stop paying. Both you and your chosen cosigner will need to be comfortable taking on the debt together.

6. Choose The Right Lender

Not all lenders are the same. While most lenders have similar requirements that need to be met for a personal loan, each company will have its own underwriting eligibility requirements. If you have a relationship in good standing with a credit union or bank, you may have a better chance of getting a personal loan approved with them.

What Are Title Loans?

What Are Title Loans?

Title loans allow you to use your car's title to secure a loan quickly. Unlike selling your car, you're only temporarily loaning out the equity in exchange for immediate funds while retaining possession of your vehicle.

Loan Cheetah ensures you keep your wheels while accessing the cash you need urgent

Learn More
Bad Credit, No Credit Loans

Bad Credit, No Credit Loans?

How do bad credit or no credit loans, commonly known as title loans, differ from traditional loans regarding credit scoring?

Bad credit or no credit loans, also known as title loans, operate differently from traditional loans in terms of credit score requirements. In traditional lending, your credit score plays a significant role in determining loan approval and terms. However, with title loans offered by Loan Cheetah, the loan value is primarily determined by the value of your vehicle rather than your credit score. This means that even if you have imperfect credit, nonexistent credit, or bankruptcy on file, you may still be eligible for a title loan based on the value of your vehicle. Therefore, while your credit score may have limited or no influence, the value of your vehicle serves as the primary factor in securing the loan.

Learn More
Quality Title Loans

Quality Title Loans

Loan Cheetah prioritizes not only speed but also the quality of your loan. We secure your loan quickly while offering competitive interest rates, higher cash payouts, and flexible repayment plans with terms you can rely on.

Loan Cheetah Gets You Title Loans Faster

Loan Cheetah Gets You Title Loans Faster

Loan Cheetah delivers top-rated title loans in half the time it takes other lenders to process paperwork. Faster access to funds means getting back to your life sooner. Our commitment to speed and efficiency ensures your peace of mind while addressing your financial needs.

It's Time to Get a Running Start on Your Title Loans

It's Time to Get a Running Start on Your Title Loans

Loan Cheetah provides speed and accuracy, offering lower interest rates, higher cash payouts, and reduced processing time. Stop waiting for your finances to magically improve and take action with Loan Cheetah today.

Ready to get started ?

Begin with our simple application form, or call us.

FREE QUOTE CALL NOW (866) 723 3114

Title Loan Disclosure

This is a solicitation for a loan. This is not a guaranteed offer and requires a complete and approved application. Title- secured loan amounts are subject to vehicle evaluation. Results and actual amounts may vary. Certain limitations may apply.

Personal Loan Disclosure

This is a solicitation for a loan. This is not a guaranteed offer and requires a complete and approved application. Title- secured loan amounts are subject to vehicle evaluation. Results and actual amounts may vary. Certain limitations may apply.

FAQ's about Car Title Loans

A car title loan allows you to borrow money using the title of your vehicle as collateral. You temporarily surrender the title to the lender and get it back once the loan is repaid.

The amount of cash you can receive for your car title loan depends on factors such as the value of your vehicle, your income, and state regulations. At LoanCheetah, we offer loans up to $10,000, depending on eligibility.

Yes, you can continue driving your car as usual while you have a title loan from LoanCheetah. We understand the importance of transportation, so you can keep your vehicle throughout the loan term.

To apply for a car title loan, you typically need to provide a government-issued ID, the title to your vehicle, and proof of income. Additional documents may be required based on state regulations and lender policies.

Yes, LoanCheetah accepts most credit types, including bad credit. Unlike traditional lenders who focus solely on credit scores, we use the value of your vehicle to determine loan eligibility.

With LoanCheetah, you can get approved for a car title loan quickly, often in as little as 30 minutes. Once approved, you may receive cash the same day, providing fast access to the funds you need.

If you’re unable to repay your car title loan, contact LoanCheetah immediately to discuss your options. Depending on the situation, we may be able to offer a repayment plan or other solutions to help you avoid default.

Yes, LoanCheetah offers refinancing options for existing car title loans. We may be able to pay off your current loan with another lender and provide you with a new loan at a competitive rate.

No, LoanCheetah does not charge penalties for early repayment of car title loans. You can pay off your loan ahead of schedule without incurring any additional fees.

If you default on your car title loan, the lender may repossess your vehicle to recover the outstanding balance. However, LoanCheetah works with customers to find alternative solutions and avoid repossession whenever possible.